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E-wallets and CRS

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Bellazio
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Re: E-wallets and CRS

Tue Nov 12, 2019 12:30 pm

What about the new changes?
Bellazio
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Re: E-wallets and CRS

Fri Dec 13, 2019 1:08 am

No one has an idea?
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arbusers
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Re: E-wallets and CRS

Fri Dec 13, 2019 7:06 am

Bellazio wrote: No one has an idea?
What are the new changes you are referring to?
Bellazio
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Re: E-wallets and CRS

Sat Dec 14, 2019 12:16 am

They sent an email in date 12/11 saying they are going to make some changes. Does someone know if they’ll start to report to CRS?
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arbusers
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Re: E-wallets and CRS

Sat Dec 14, 2019 8:46 am

Bellazio wrote: They sent an email in date 12/11 saying they are going to make some changes. Does someone know if they’ll start to report to CRS?
Did you read that e-mail or are you asking someone else to read it for you?
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Re: E-wallets and CRS

Sat Dec 14, 2019 8:07 pm

I'm curious why anyone didn't mention it before. I think someone who understand very well english and law should read their new term of use in detail and tell us. Their email isn't very clear about it.

"What changes have we made?

Skrill Account Terms of Use

    We have clarified the way in which we will charge certain administration fees.
    We have updated the terms which govern how Third Party Providers may access your Skrill Account with your consent.

Rapid Transfer Customer Terms

    We have updated these terms to explain the way in which your personal data may be used in order for us to provide you with the Rapid Transfer service

Skrill Cryptocurrency Terms of Use

    We have introduced a new feature to the Skrill Cryptocurrency Service which enables you to use your Crypto Account rather than the e-money balance in your Skrill Account to purchase an interest in a Supported Cryptocurrency.
    We have also revised the fee structure for the Skrill Cryptocurrency Service so that you will pay a flat fee for transactions of less than EUR 100.
    Please note that these changes will become effective on 15th November 2019.

Skrill Money Transfer Terms and Conditions

    From 15th January 2020, the fee for domestic Skrill Money Transfer transactions will be 2%.
    All Skrill Money Transfer transactions will also be subject to a currency conversion fee of 3.99%.

You can view the updated fees which will apply as a result of these changes here. "
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Re: E-wallets and CRS

Sun Aug 30, 2020 8:29 am

This is the most interesting topic in all forums.
Do you know if PayPal exchange information? This is still not clear to me.
Thank you.
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arbusers
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Re: E-wallets and CRS

Mon Aug 31, 2020 7:26 am

neopas wrote: Do you know if PayPal exchange information? This is still not clear to me.
PayPal keeps a banking license from Luxemburg. By default, they have to exchange information. However, it seems to me that during these last years PayPal did not exchange any information in regards to the CRS (Common Reporting Standard). This makes me think that they operate under several regimes and they hide under the one that suits them best.

In addition, there is something that worries me with PayPal. They change their Terms and Conditions almost every month. They notify their customers via e-mail and if you click to see what was changed you see a very long sheet. Now it became a routine to receive this sheet and I believe that no-one has the courage to read it. As the devil hides in the details, you never know what comes out of there. I am suspicious with everyone in these payment businesses and this PayPal tactic seems very sneaky to me.
scout1721
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Re: E-wallets and CRS

Fri Sep 04, 2020 2:42 pm

Hello to everyone,

Is it safe to use Skrill MasterCard to withdraw money from ATM? I mean, do any authorities collect the information of transactions? Such as name of cardholder etc. 
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arbusers
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Re: E-wallets and CRS

Sun Sep 06, 2020 4:29 pm

scout1721 wrote: Hello to everyone,

Is it safe to use Skrill MasterCard to withdraw money from ATM? I mean, do any authorities collect the information of transactions? Such as the name of the cardholder etc.
Yes, they do collect all information from your transactions. But who and how is collecting this information? When is this information distributed with others?

-The bank that owns the ATM collects the information.
-Then the Bank of the country that you make the transactions in, is collecting all information from all banks. For example, if ou use a Rabobank ATM in Holland to withdraw funds, then Rabobank and the Bank of Holland holds all info.
-The issuers of the card (mastercard-Visa-PaySafe etc) are also keeping relevant information.

Each country has set different filters for reporting all information. For example, if you withdraw more than 10.000 EUR within 1 month, then the bank will ring a bell in the Tax Authorities of the country.

If you use foreign ATMs in foreign countries to withdraw funds, then theoretically, you are adding one more burden, as the Bank of country X should contact the Tax Authority of country Z.

In any case, if you want to stay under the radars, you must try not to be caught from various filters.
Last edited by arbusers on Sun Sep 06, 2020 7:36 pm, edited 1 time in total.
Mtipster
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Re: E-wallets and CRS

Tue Jan 18, 2022 8:35 pm

Long time no new posts here...

I've been reading about DAC7 and DAC8, there are some bad news.

As I understood, DAC7 will be implemented on January 1st 2023, with 1st deadline for reports January 31st 2024 for 2023.
E-money institutions will have to report about sellers of goods, services... As I understand, moving money between bookies accounts shouldn't be included here, but who knows...

DAC8 is more about crypto providers, but there is also much talk about e-money. Nothing is concluded yet, there were consultations and some further conclusions were set for Q4 of 2021, but it seems they delayed it, haven't found anything further. I prepaid on some newsletter on some shitty EU site to email me an update, expecting not so good news.

Arbusers, any new info on your side?
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arbusers
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Re: E-wallets and CRS

Wed Jan 19, 2022 2:37 am

As ewallets become less important for the smart bettor, we pay less attention to these developments.

DAC7 is about the individuals and the companies that sell goods and services via e-money. The end user that deposits/withdraw money to/from a bookmaker is not falling under the scope. The bookmaker will fall under the scope. Maybe this will force more bookmakers to drop e-wallets.

DAC8 looks more dangerous to me as it deals with people that have business profits via e-money or cryptos. Before anything else the procedure must define what ''business profits'' are. As a first step, the e-money institutions will have to collect the TIN numbers of their clients, so you will understand that you will be under the scope, the minute that your ewallet asks for it.
Mtipster
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Re: E-wallets and CRS

Wed Jan 19, 2022 8:50 am

arbusers wrote:
Wed Jan 19, 2022 2:37 am
DAC8 looks more dangerous to me as it deals with people that have business profits via e-money or cryptos. Before anything else the procedure must define what ''business profits'' are. As a first step, the e-money institutions will have to collect the TIN numbers of their clients, so you will understand that you will be under the scope, the minute that your ewallet asks for it.
I agree, TIN collection should be a red alert.

However, I've always wondered if they extract any data from verification documents we send them or they just store it in picture format. In theory, they could extract TIN from ID scans, I hope they don't.
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arbusers
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Re: E-wallets and CRS

Wed Jan 19, 2022 9:11 am

Not all national documents include a TIN number. Most don't.
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arbusers
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Re: E-wallets and CRS

Mon Mar 14, 2022 7:47 am

Dont base any decision on posts made back in 2015. There are fresh news an info, and I strongly suggest you take latter posts into consideration too.

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