1Wk·

Crypto payout/bank/security

Hello,

I would like to sell some of my cryptos in the near future.

I have already read about bank problems etc. several times!

How did that work for you?

Should I let my bank know in advance that a larger amount (approx. €10,000) is coming into my account?

I don't want my account to be frozen 😛

$ETH (+1.94%)
$BTC (+1.92%)
#crypto
#krypto

15 Comments

Peter G.@Sontoshi_Nakagoku

1Wk

It's always good to let people know if you have nothing to hide ;P. 10K isn't really much now, but if there's not much else going on in your account, it can't hurt. Maybe you can just stagger it(?).

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Anne@AnneS

1Wk

@Sontoshi_Nakagoku yes, I will stagger it one way or another! Thank you

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Horrax D@Horrax

1Wk

@Sontoshi_Nakagoku I transferred €8k from my crypto account to my ING current account last month without warning. There were no problems at all. I've only had the current account for about 6 months.
I would generally only worry about higher 5-digit amounts. But well, better safe than sorry ...

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Anne@AnneS

1Wk

@Horrax thanks, that's reassuring 🤣

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Alpalaka@Alpalaka

1Wk

Let the bank know and if they complain, you can deposit the proof of origin of the money

And if you have the transaction list from the broker, it's no stress anyway

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Anne@AnneS

1Wk

@Alpalaka Yes, I have! Should I then include the complete transaction list?

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Alpalaka@Alpalaka

1Wk

@AnneS You can still present it to your bank advisor as proof, but I would black out the remaining non-relevant transactions - it's none of his business

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LKG@LKG

1Wk

why don't you do peer2peer, there are certainly people who want that

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Stefan21@stefan_21

@LKG if it were that easy😅
Unfortunately, I've seen people get their accounts terminated several times now after P2P transactions. I've also bought P2P from time to time via Peach or Robosats and built up a small non-KYC stack. But you have account transactions with all kinds of strangers and if one of them is somehow suspected of money laundering or similar, the account is quickly terminated. Suspicion, the account is quickly blocked😅
Or you can exchange Bitcoin for cash, in which case you have to meet up with strangers who can also rip you off...
It's not really that much fun

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Pauljto@Pauljto

1Wk

With such a sum, I would first and foremost observe the AWV reporting obligation anyway. Call them and give them a "heads up", so to speak.

It also wouldn't hurt to let your bank know. :)

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Anne@AnneS

1Wk

@Pauljto Thank you! I was planning to do the same with the bank!

Above all, I have changed my reference account on the crypto exchange in the meantime...
That means all the deposits of the last years were made from a different iban (but the same bank)

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Stefan21@stefan_21

1Wk

At under 10k it shouldn't be a problem. I think 10k is a limit above which there could be questions. In general, it's always better if you let us know in advance before your account is blocked because of something like this :D

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CryptoLite@CryptoLite

1Wk

I had the same concern when I cashed out before bank just asked for exchange proof. But honestly, I moved away from constant trading stress. Launchpools became my escape: earned ~$500 staking $BGB this year, and with 5M $SWTCH up for grabs in BG’s pool, it feels like a smarter, low-stress way to grow. Anyone else?

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Artiskon@Artiskon

So far I have had no problems transferring amounts over 10k to my account.
However, with Bitget, for example, it also comes from an account with my name.

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Thomas M.@Goldzuckerspecht

10 k is nothing. Simply cancel in advance or only transfer the cash step by step from the crypto portal. Otherwise, I would change banks. Revolut is a good alternative

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