Ninjastic
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Re: [LIST] Free EU bank accounts that you can be opened directly online
by
LTU_btc
on 11/02/2018, 23:19:02 UTC
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
Don't know how about others, but Mistertango have electronic money institution license issued by central bank of Lithuania
https://www.lb.lt/en/frd/view_license?id=412
But it's not a full bank. I'm not sure, they report to government institutions or not, but if they will get request to do that - they will provide all information about you that they have.