Banks

[ZS-SAS]

Hi all,

When do banks actually start asking questions?

At the moment I have a set up where all I do is order the ID's for someone.

He collects the money, sends it to me in lump sum, I buy BTC in local bitcoins, then I transfer it to a wallet and buy the ID's and they're sent to his.

He sends the money and also my cut, so I keep a little bit.

When would they start asking questions? I've made around 200 from ID's so far doing it all myself and now this is how it's going to be, will they ask to prove my income? I do also work so that comes in once a month, could I maybe say that I do some work for the lad then I buy some bitcoin to invest or something if they say anything?

Anyone have any advice?

[Chinobey]

Hi all,

When do banks actually start asking questions?

At the moment I have a set up where all I do is order the ID's for someone.

He collects the money, sends it to me in lump sum, I buy BTC in local bitcoins, then I transfer it to a wallet and buy the ID's and they're sent to his.

He sends the money and also my cut, so I keep a little bit.

When would they start asking questions? I've made around 200 from ID's so far doing it all myself and now this is how it's going to be, will they ask to prove my income? I do also work so that comes in once a month, could I maybe say that I do some work for the lad then I buy some bitcoin to invest or something if they say anything?

Anyone have any advice?

How much money is going in there a month you reckon? Unless it's over a k a month they are very unlikely to ask questions even going up to like 4k a month is usually okay. Obviously, this depends on the bank as well, revolut asked me questions after about 5k over a few months whereas HSBC I have had way more than that and never had questions asked.

If questions are asked something such as you were buying something on his behalf should work fine, banks are not the friendliest towards cryptocurrency but buying crypto for someone is perfectly legal and not against any policies. However, a big mistake would be to say you are selling him something as there are tax issues that arise if you are regularly selling goods as a source of income.

Also massive sums raise more questions than small regular sums so 3k a month could be fine but a large sum of like 10k+ may get them asking.