Hello. I’m new here, in Texas. But, my husband works in oil & gas and he’s in Denmark. I can add one more bank to our list if it has the service we need. He has a client in Denmark (oil & gas industry) who wants to pay him with an electronic deposit through his Gibraltar Private Trust bank account. I know we can do a bank transfer but this guy insists on an electronic deposit. The last bank transfer he did got screwed up. Is there some way to do an electronic deposit? Is there a bank that makes this easier?
One person suggested that the money go through my AT&T account but I don’t think that will work.
Thank you for any suggestions. Again, please do not suggest a transfer. We know about that option.
One option could be a fast-growing flow of money today, for example, using Bitcoin or the USDT currency (which is much more stable). Setting up these accounts has been made easy and here is one of the best ways to make money transfers easily Crypto.com: The best place to buy Bitcoin, Ethereum, and 250+ altcoins. Another option could be to use the Paypal channel if the options it offers are sufficient, i.e. you can pay directly from a debit card using an email address to anyone who has Paypal enabled and it is easy to open it. Finally, another link to the bank’s page through which electronic money transfers also work Electronic Deposit certainly there are other options, but here were a couple of examples that I hope could be of some use in your case.
Very sad to hear about your astonishingly bad experience, I myself have never had any problems with them. There are several alternative submission methods in this blog post Top 15 International Money Transfer Apps 2021 - Wise
Thank you Sami. I’ve tried Bitcoin. When any American bank sees that in a withdrawal or deposit, they close the account. If it’s a deposit, they send the money back. I’ve told the client about Paypal but he says he can’t do an electronic deposit that way. I’ll try again.
Thanks much
Thank you for the feedback. I teach English online. In 2 years and about 50 clients, I have had 3 that did not want to use PayPal, 2 because they were in China. One in the US but from India. I never had a problem with it. Paypal is owned by Google. As well as Venmo. thanks.
Angela, Indeed, U.S. banks seem to be coming back with this rapidly increasing virtual currency in modern times. However, if you are interested, I would advise you to visit Simple Bank https://www.simple.com/, which is perhaps the only bank in the entire vast US that accepts Bitcoin payments and is naturally subject to personal information in local registries meaning foreigners cannot access the bank directly. customers. In addition, here is a broader report from a service provider on the US virtual currency banking situation Best US Banks for Cryptocurrency such as Bitcoin
I understand the guy’s preference, bank wires cost real money but EU SEPA transfers are quite cheap. I’m quite sure that’s what he wants to be able to do. And ideally that’s what you want as well.
It sounds like what you want is a simple EU bank account. It shouldn’t matter what country it’s in since you only really care about doing the transfer out back to the US. I’d presume you would want it anyway since your husband is having to deal at least somewhat in EUR.
There are several ways to do this.
If your husband is actually physically in Denmark with a visa, he can probably find a bank in Denmark that will open an account for him.
It is supposedly not that hard to open a bank account in the Netherlands, it just requires visiting and jumping a few hoops. I’d have to find the right reference for doing so. People have done it. Obviously that’s problematic at this moment though since they do insist on the physical visit to the bank and to the office where you get a ID number.
N26 bank may do it for you, esp if you can provide a Denmark address. I haven’t looked into it.
dukascopy bank in switzerland will open accounts for US citizens. Fees though. But part of SEPA.
Transferwise is a good solution as suggested. I’d suggest it’s probably the simplest solution for your need, versus cryptocurrencies or the like, since all you want to do is move money from A to B and have a EU-based IBAN to give to your client and maybe you want a credit card.
thank you so much! This is really what I know will work. You would not believe how many banks I tried. I’ve lost 4 accounts trying to use Bitcoin. If I can’t get the ATT process to work (I’ve already started it), then I will sign up with SIMPLE.
Perfect Money lets you hold, receive and send money in Bitcoin, USD and Euros. You can then send the money to your account in almost any country in the world. They also don’t report your spending to any country.
After you register, you can add and save your bank account details with Transferwise or any bank account in any currency. Your transfer options are USD and Euros (they also have bitcoin)
It’s Perfect Money, they are not a traditional bank but more like an online wallet.
“Gibraltar Private Trust bank” is a US bank in Florida.
If he wants to do a “electronic deposit” then you need a US bank account. You live in Texas and don’t have a US bank account?
Give him the correct routing number and it should work fine. Sometimes the routing number for direct deposits are different than from wires, so get the right one.
Just for your knowledge, fully licensed banks (usual banks that you see on the street) are almost never friendly to crypto activities. Especially in the US. Your best way would be to use EMI (Electronic Money Institution). There are many fintech around in Europe. Don’t rely on mass-market institutions such as Transferwise. Many of my clients had problems with them, and many times their accounts have been frozen for a couple of months while dealing with the compliance team (very generic communications).
I would suggest finding a business-oriented EMI. Bankera would be one of them. They usually don’t accept US citizens, but I could push it through. Just let me know if you need any help.