Hi All,
Quite a while back I opened an AdvCash account in my own name, its been sitting dormant for quite some time.
Can anyone advise me if its still the same with this account where inbound funds must come from another account in the same name, e.g Adam Smith to Adam Smith? This is the detail directly from AdvCash on their portal
'No transfers from other people, friends, family etc. Only you can send these transfers.
No transfers from any businesses, exchange or money services. Please use only your own account in a bank.
No cash deposits in bank branches to any IBANs from our invoices. Only transfers from your bank account.'
Has anyone tried and succeeded with sending in bound funds from another source without issue?
Also their limits on transactions are quite low
How much can I send?
At least EUR 100 and not more than EUR 3,000 per single transfer, a day or a month. You can raise this limit by contacting our customer support and providing a few documents.
Not more than EUR 30,000 a year.
Has anyone tried to raise the limits and if so what additional documents were required?
Thanks in advance
I have rised the limit to the double 60K per year - they requested additional documents like bank statement and declartion of funds. Was easy for me to provide, after a week they lifted the account!
AdvCash is really easy to work with. I use the debit card in shops and also withdraw 2500 euro per day without problems.
blizz said:I have rised the limit to the double 60K per year - they requested additional documents like bank statement and declartion of funds. Was easy for me to provide, after a week they lifted the account!
AdvCash is really easy to work with. I use the debit card in shops and also withdraw 2500 euro per day without problems.
It's a good service. However, in most online shops card don't work, because it don't have 3D secure
Btraveler said:It's a good service. However, in most online shops card don't work, because it don't have 3D secure
Yes Adv delivers to certain regions and excludes other regions of the world, the cards issued are strictly for adv withdrawals,or shopping.
online usage restrictive as @blizz mentioned, Thus far limitations exist towards achieving various opsecs.
But can I still have money paid into my account from other people and not just myself?
bigladsmith said:But can I still have money paid into my account from other people and not just myself?
you can do that if you get IBAN transfers, they can't see from where the money comes unless something has changed which I don't think has.
I've set it up in my own name & only transferred 100 bucks worth of Bitcoin so far, which I exchanged into Bitcoin.
Would they ask for proof of ownership even for Bitcoin?
In my case it would be OK even transferring from Binance with full KYC in my own name to Advcash, I will simply use them only as an extra card for now.
AdvCash is not the best to use if you are going to receive or send money to 3rd party.
Actually I have not found a good solution at all, the way we are doing it, we receive crypto to kraken, transfer to a street bank, from there to Wise or where it has to go.
James Spader said:AdvCash is not the best to use if you are going to receive or send money to 3rd party.
Actually I have not found a good solution at all, the way we are doing it, we receive crypto to kraken, transfer to a street bank, from there to Wise or where it has to go.
Could you share some suggestions on answering questions that street bank may raise using this method?
discussionor said:Could you share some suggestions on answering questions that street bank may raise using this method?
It depends on where you live! For instant if I have a street bank in Spain it won't help you if you live in Paraguay !
Yes
sonato said:It depends on where you live! For instant if I have a street bank in Spain it won't help you if you live in Paraguay !
Yes but there are are parallels across many banks in different countries. Most street banks at least in OECD countries will question where the funds came from if you transfer in from Kraken.
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