Alior is not crypto currency friendly

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Alior is not crypto currency friendly

Postautor: LukAss741 » wtorek, 23 stycznia 2018, 10:07

I heard from many people that Polish banks suck when it comes to crypto currency related transfers but I thought it is complicated particularly for exchanges to open bank accounts for this kind of business.
Apparently not. Alior will terminate my individual accounts due to transfers to and from crypto currency exchanges. What ever. At least I can now find better bank.
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Alior is not crypto currency friendly

Postautor: hassejo » wtorek, 23 stycznia 2018, 13:19

Could you share us, which crypto currency exchange you were using ?

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Alior is not crypto currency friendly

Postautor: LukAss741 » wtorek, 23 stycznia 2018, 14:14

abucoins, bitbay, bitmarket, bitmarket24, bitmaszyna, anxpro, bitstar, kraken, bitstamp, bitlish, coinfloor, therocktrading, quoine, dsx, dgtmarket, nevbit.
I think these are all I ever sent deposit to or received withdrawal from/to my account at Alior.

I asked them publicly https://www.facebook.com/AliorBankSA/po ... 0390158178
They said it is due to 8b paragraph 3 point 1-3 of the Act of Counteracting money laundering and terrorism financing ("Ustawa o Przeciwdziałaniu Praniu Pieniędzy Oraz Finansowaniu Terroryzmu")

They however never contacted me to ask for details of any payment as they should have because most of my transfers were worth more than 15k € according to:
2) podejmowaniu czynności, z zachowaniem należytej staranności, w celu identyfikacji beneficjenta
rzeczywistego i stosowaniu uzależnionych od oceny ryzyka odpowiednich środków weryfikacji jego
tożsamości w celu uzyskania przez instytucję obowiązaną danych dotyczących tożsamości
beneficjenta rzeczywistego, w tym ustalaniu struktury własności i zależności klienta;
3) uzyskiwaniu informacji dotyczących celu i zamierzonego przez klienta charakteru stosunków
gospodarczych;

Anyway I understand that it is easier for them to just terminate accounts than to thoroughly verify origin of received money or purpose of payments.

My primary EUR bank which I have been using for transfers to and from crypto currency exchanges since 2014 is based in other EU country and thus needs to comply with the same CTF regulations. They only call me from time to time to ask for details regarding some transfers on my account. I provide them with all information they ask and everything is fine then. But I guess PLN market will be a little more challenging regarding finding proper bank for this kind of transfers. I guess I will try ING.

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Alior is not crypto currency friendly

Postautor: miso20 » sobota, 27 stycznia 2018, 11:25

@LukAss741, if you used so many exchanges than I am not surprised they terminated your accounts. I don’t want to be misunderstood that I support banks, but it is just natural for me that if You had so mamy accounts you made mamy transacations. And this is What looks very suspicious for banks that have to block money laundering. Most of people have just few crypto exchange accounts.

Banks are more likely to end cooperation with companies because they make lots of transactions. Usually they not trend to do this with private person. For example I have account in alior and never had problems. But as I said - I have just few accounts and usually Buy rarely for long term. You need to Asi yourself how mamy transactions you usually did? Add arbitrage to this and there nothing surprisng they closed your account ;)

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Alior is not crypto currency friendly

Postautor: LukAss741 » poniedziałek, 29 stycznia 2018, 14:43

And that is the difference between decent bank and Alior. While other banks from time to time ask for information and documents regarding certain transfers as they are obliged by the law Alior does none of that and then they only terminate accounts. If they had asked for details regarding any transfer I would have been able to prove what is the origin and purpose of it.

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Alior is not crypto currency friendly

Postautor: havocboy » sobota, 17 lutego 2018, 20:57

Thanks for informations, I updated my list "banks friendly to cryptocurrencies". If someone have more info about other banks please send me a message.

List: http://kryptowalutowo.pl/banki-przyjazne-kryptowalutom/
Contact: havocboy@wp.pl

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