Quote from: totom on February 11, 2018, 10:00:28 PM

Quote from: LeGaulois on February 11, 2018, 06:44:42 PM

Quote from: Anarchist on February 11, 2018, 01:38:34 PM

Quote from: totom on February 11, 2018, 01:19:28 PM

Is there a risk that these service providers will follow CRS and report account balances back to our tax agencies? I am looking for a EUR card that I can use for normal living expenses. I would prefer not to be charged with tax evasion Grin

No, because legally they are not considered as a bank but rather as a payment system (similar to Paypal)

Yep, they aren't considered as a bank so the companies don't report anything to the tax agencies, however, if an institution from the government (such as police, tax agency, justice court, and similar) ask to the companies to provide a report needed for their investigations, they will give everything without a question

Thanks for the replies. So even N26, Bunq, Mistertango etc. are not legally considered as banks? If they don't report anything then the government institutions shouldn't even know to ask for information from them Grin

You're welcome.
N26 and Bunq are a pure bank now. Bunq got its banking license with the Dutch Central Bank 2-3 years ago and N26 got it from BaFin during 2016. It was the reason they changed the name to N26 Bank.
Mistertango isn't considered as a bank but as an electronic payment company supervised by the Bank of Lithuania. So they don't a banking license but another one