Migom Bank - ideal for sole proprietors and high rollers (SWIFT, Visa, Cryptocurrencies)

Yesterday came bad news. Latvian banks once again lost their licenses for money laundering and all their transactions and cards were blocked.



It's a mess everywhere now, there's money laundering control everywhere.
Now my favorite card has gone down the drain and I need to think about where to transfer money and where to get service.

It is better to keep money abroad than within a country that has been on the verge of a complete default and collapse of the banking system for 5 years.

From the huge list of offshore and foreign banks, Migom Bank caught my attention.



Firstly, this is the Dominican Republic, and not Cyprus and Latvia, which have driven everyone crazy.
Secondly, there is a clear Russian transliteration in the name, perhaps these are Russian roots.
Thirdly, opening a private/corporate account there costs about 2500 euros (?) through intermediaries. Why is it so expensive?

I looked for detailed characteristics about the Migom bank.

Migom Bank is a global neobank focused on emerging markets, offering a full suite of e-banking services tailored to the needs of small and medium-sized businesses and entrepreneurs.

OPENING A BUSINESS ACCOUNT
Migom Bank Ltd. is considered an international financial institution. The supervisory authority that regulates its activities is the Ministry of Finance of the Commonwealth of Dominica.

ADVANTAGES OF MIGOM BANK
* availability of a full set of licenses and documents;
* the ability to open an account in a few days from anywhere in the world;
* convenient mobile applications;
* opening an online account in Migom Bank;
* the ability to open an account for both corporate andindividuals;
* bank accounts with full online access to account management and detailed reporting;
The bank's correspondent accounts are located in Italy, Canada, England, France, Lithuania, Luxembourg, Austria, Switzerland and the USA;
* multicurrency IBAN with SEPA and SWIFT support available;
* accessible internet banking: the application provides access to all Migom Bank services;
* it is possible to obtain a VISA debit card;
* execution of OTC transactions – crypto-fiat exchange for large amounts with the assistance of a bank, without limits.
* personal banking services (Private Bank).
* international transfers in several currencies;
* issue of debit cards, deposit certificates;
* services for investing in securities in major world markets.

Migom Bank offers the world's first BTC (Bitcoin) bank account and ETH (Ethereum) bank account to all banking clients, merging traditional finance with Blockchain technology. If you are looking to open a cryptocurrency account, please note that Migom Private Bank is a pioneer in the field of inter-market cryptocurrency "super-exchange" clearing system, allowing clients to seamlessly trade on all major cryptocurrency markets simultaneously worldwide, eliminating the limitations of a single source of liquidity and execution.

Additionally, Migom Bank offers its qualified account holders:
* one of a kind instant exchange of cryptocurrency to fiat and fiat to cryptocurrency;
* over-the-counter cryptocurrency trading services;
* safe storage of assets in Switzerland;
* the possibility of immediate transfer of funds or crypto assets.

Users who decide to open a Bitcoin account with Migom Bank can securely access all of the bank's services via their mobile app or online account dashboard. The financial institution is fully licensed to provide retail depository and interbank services, a full range of cryptocurrency-related services, securities transactions, and investment banking services.



INFORMATION ABOUT RATES MIGOM BANK
Account Opening: Due Diligence and Processing Fee
2500 EUR
Monthly account maintenance fee
29.97 EUR
Annual account maintenance fee (from 2nd year)
97 EUR
Incoming SEPA/SWIFT transfer from external bank
1.5% (min. 3 EUR)
Outgoing transfers to the EU (SEPA)
1.25% (min. 6 EUR)
Transfer to an external bank outside the EU (SWIFT)
2% (min. 40 EUR)
OTC exchange USD to cryptocurrency (BTC, ETH)
2%
Cryptocurrency exchange fee for Bank clients
0.25%
Card issue (including delivery and initial balance of 20 euros)
200 EUR

HOW TO OPEN A CORPORATE ACCOUNT
Migom Bank offers a full range of banking services in accordance with the highest international standards.
The standard application review period is 1 week. You can order a consultation on opening an account with Migom Bank to learn more about the bank's rates and the requirements that must be met to open a corporate account with Migom Bank.

FREQUENTLY ASKED QUESTIONS

Is it possible to open a Bitcoin account in Migom Bank?

Yes, this financial institution allows customers to open a cryptocurrency account, perform various transactions with crypto assets, and quickly exchange fiat for cryptocurrencies.

What documents are needed to open an account at Migom Bank?

As a rule, a neobank requires a standard list of documents. Therefore, if you need to open a corporate account with Migom Bank, you should provide registration documents, information about the founder and directors, as well as information about the persons who will be authorized to manage the account. The financial institution may also request additional information at its discretion.

Why is it worth opening an account with Migom Bank?

Migom Bank is one of the first global neobanks to offer a wide range of services for companies operating with crypto assets.

The issue has been resolved! Without a promo code, the bank charges 500 euros for opening accounts. Intermediaries are ripping you off for 2,000 euros out of thin air. If you don't read the forms carefully, then opening accounts online in a foreign bank is 2 days with verifications and 500 euros to the bank (Migom Bank, Dominican Republic).

Coin! What ratings does Moody, Fitch and S&P give to Migom Bank? If higher than BBA, then 2.5K EUR is quite a reasonable amount for non-residents!

I don't understand agency ratings. S&P assigned BB to General Motors, what does that mean?

After verification, Migom Bank requires signature of General Terms and Conditions (50 pages in English). About 2500 eur is not discussed yet, but you need to read the conditions - all this can be hidden among the small lines.