Many companies ask for superfluous information from the client that they do not need. Not only to comply with general EU requirements, but also to be extremely diligent and make such inconvenient decisions on their own for their clients, ostensibly on the grounds of protecting against money laundering or supporting terrorism.

After all, they themselves know and understand that you do not launder much money with USD 20 and you do not help terrorism much with that amount. But it is all because of some restrictions, controls and surveillance that benefit them. What then about the official banks, which are being sued and tried for millions or billions of money laundered?

I think that their zeal will kill them and that customers will simply walk away from them, opting for sensible services where the company is on the side of the customer, does not squeeze the customer, does not demand too much and applies the most minimal requirements.

I understand that companies can be squeezed by the government, but it takes time to see whether a company stands up for its customer and fights for them, or whether it is prepared to sell them out to the government. Reputations are built up over a long and patient period of time but can be destroyed overnight. It is very good that we write about all events and problems, so the people has a possibility to sort out who is who.

I have myself come across cases where the requirements are too high, in my opinion. I have left some of the services and closed my account, and stayed in others because they are still quite normal and I need the service they provide.

Many companies ask for superfluous information from the client that they do not need. Not only to comply with general EU requirements, but also to be extremely diligent and make such inconvenient decisions on their own for their clients, ostensibly on the grounds of protecting against money laundering or supporting terrorism.

After all, they themselves know and understand that you do not launder much money with USD 20 and you do not help terrorism much with that amount. But it is all because of some restrictions, controls and surveillance that benefit them. What then about the official banks, which are being sued and tried for millions or billions of money laundered?

I think that their zeal will kill them and that customers will simply walk away from them, opting for sensible services where the company is on the side of the customer, does not squeeze the customer, does not demand too much and applies the most minimal requirements.

I understand that companies can be squeezed by the government, but it takes time to see whether a company stands up for its customer and fights for them, or whether it is prepared to sell them out to the government. Reputations are built up over a long and patient period of time but can be destroyed overnight. It is very good that we write about all events and problems, so the people has a possibility to sort out who is who.