MSB Friendly Banks

MSB Friendly Banks

Here is my updated listed of MSB Friendly Banks that I was able to draw up for USA, Canada, and Europe.

MSB Friendly Banks Europe

  • Philippine National Bank (PNB) Europe Plc
  • Raiffeisen Bank Intl Ag, Vienna, Austria
  • AO Raiffeisen Bank, Moscow, Russia
  • Raiffeisen Bank, Slovenia
  • Bank Meinl, Vienna, Austria
  • Baltikums Bank
  • Ceska Sporitelna, Czech Republic
  • CIMB Bank, Singapore
  • Bank of Communications, Hong Kong
  • DBS Bank Ltd, Hong Kong
  • Punjab National Bank, Hong Kong
  • Indian Overseas Bank, Hong Kong
  • LHV Pank (Estonia) (yes, they spell it Pank rather than Bank).
  • Atlas BankA, Montenegro

MSB Friendly Banks UK:

  • Sterling Bank
  • Rails Banks

MSB Friendly Banks USA:

MSB Friendly Bank Canada

Bonus: Here is a list of banks, you might want to contact them to find out if they bank Money Services Businesses.

Two more Canadian Banks go the Derisking Route.

Reports are coming in from various Money Services Business that two Canadian Banks have gone the derisking route and have closed down MSB/MTO related bank accounts.

The two banks in question are:

It seems the prospect of losing access to banking in Canada is getting all too real. Because the market is so small, MSB Friendly Banks are hard to discover and work with.

Everyone is maintaining a very small quote of MSBs and are shedding off the riskier MSBs or simply reducing the count.


MSB Friendly Banks

I’ve just established a relationship with two new MSB Friendly Banks. One bank is in the United States whilst the other MSB Friendly Bank is in Europe. I will be posting an application on how to apply for an introduction to these banks in the coming days.

I’m still trying to find MSB Friendly Banks in Canada, but have not been able to. It seems, quite a lot of Canada MSBs have lost access to banking in the recent weeks.

Even EFT Canada is now withdrawing its facilities from companies who are engaged in the Money Transfer Business.

All these regulations will result in cryptocurrencies taking a larger portion of the pie and many MSBs and MTOs dropping fiat and dealing with cryptocurrencies (whether they do it legally or not, is questionable).

BEHIND THE HEADLINES: The Caribbean’s major financial crisis — NationNews Barbados — Local, Regional and International News

The situation in the Carribean with respect to having correspondent banks in the US to work with Carribean MTOs is going from bad to worse.

Hardly any MSB Friendly Banks are willing to take business from the Carribean, forcing a lot many MTOs to piggy back on the services of other providers, other currencies or exit the market altogether.

This is a great article (short read) that explains what is going on in the West Indies.


Source: BEHIND THE HEADLINES: The Caribbean’s major financial crisis — NationNews Barbados — Local, Regional and International News