Arbusers

midoritea wrote:

jarora wrote: I asked the company Payoneer (USA), EntroPay (UK), ePayments (UK), CSC24Seven (Cyprus) and all wrote that will not send any of your account information to your country.

I was under the impression that it won't work directly like this. An UK institution will simply report to UK authorities, who in turn exchange relevant reports across borders. But I may be wrong.

In case of banks in the past, and I think it was a general rule, they were obliged to send the relevant information to the authorities of their customers country of residence (if they were foreigners, nts).
This is a new standard though and in parts colliding with the old one. There are few ppl at the moment who know all ins and outs so the golden year of crystal ball reading ahead for accounting firms...
For everyone else it means that in situation like this no company can be held accountable for their words.

You can be sure, that they are going to follow CRS.

THERE WONT BE ANY POINT FOR THEM TO ASK FOR ADRESS PROOF if they are not going to follow CRS.
CRS requires KYC with customer and actuall address.. so they will for sure follow CRS othervise they would not bother to ask for adress documents..

It's plastered all over your account right now, look up at the top "NOTICE: verification required"

This is no win. Give in your address your in the CRS, don't and your money is confiscated.

For those who have multiple Neteller accounts with significant balances, I think its time to start worrying.

Do they have any form of checking a person real address? In this case and if the addresses don´t match I believe they can start to make huge sums by blocking and stealing balances from multiple ID´s accounts which use fake/generic address details.

It's stuff like this that makes me believe bitcoin is going to become massive in the future because of the impact it can have on these issues we are dealing with.

Why Neteller ask for this and Skrill not? Did neteller has prepaid card only for  SEPA countries like Skrill does or for all countries?

And what does this additional verification require?

its a utility bill.
Pretty much standard in other e-wallets, standard AML / KYC.

They started with UK accounts last year, or two, and many had accounts locked.
Now, maybe they start asking earlier 'just in case' they are pressed into having them, to avoid suspending accounts and verification backlogs.

Still, they ever increasing loss of financial privacy is very worrying

vivekananda wrote: Why Neteller ask for this and Skrill not? Did neteller has prepaid card only for  SEPA countries like Skrill does or for all countries?

Only hypothetical, Skrill is based in the UK while NT is based in the Isle of Man. This could make a difference.

Thordin wrote: just in case

This might be a correct estimation.

This might turn out to be VERY troublesome...

What would you guys consider to be significant enough balances to be reported? Would you say making smaller transactions between wallets (even at the cost of higher volume paid in commissions to these thieves...) should attract less attention, as would happen between bank accounts? Or any other ways to attract little attention?

Folks have any plans to deal with this... or just wait? I certainly ain't sure what to do about it

Unless they report sum of your transactions per year  .. and if you are doing surebets you are basiclly moving money from soft to sharp ,so your sum could get really big..

CRS is all about account balance (at the end of the year, at the end of some period, lets say one month, average or max in a year).
CRS in not about transactions, but if account becomes suspicious off course that transactions can and will be visible.

I think in every CRS report MUST BE personal tax number. Nobody ask for this number except banks when you open account. E wallets don't have and don't asked for tax numbers yet.

The minute they ask for the TIN (Tax Identification Number), we will be 100% sure that they participate in the CRS.

I do not have skrill , but just wondering if they also ask for utility bill?