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Your banks are slow. Many process SEPA transfers a lot faster than that, try N26 to Revolut if you're curious. Also the SCT inst scheme has started being rolle
by hocuspocus 7y ago
Your banks are slow. Many process SEPA transfers a lot faster than that, try N26 to Revolut if you're curious.
Also the SCT inst scheme has started being rolled out.
- wcoenen 7y agoThis was to move money between trading accounts. I don't think these new nimble "mobile" banks offer stock trading accounts just yet. edit: also, those banks are UK ones. I'm not inclined to open accounts there with Brexit going on. Foreign accounts are also a pain for tax admin.
- literallycancer 7y agoWhere do you live that you have to report you own foreign accounts? Asking companies to report them might be justified, but individuals?
- wcoenen 7y agoBelgium. https://finances.belgium.be/fr/comptes-%c3%a0-l%e2%80%99%c3%a9tranger https://finances.belgium.be/fr/comptes-%c3%a0-l%e2%80%99%c3%...
- retiredcoder 7y agogenuinely asking, why would not be justifiable? That is tax on personal income and capital gains just like any other.
- literallycancer 7y agoIt creates a burden for people in that they have to do more paperwork. That time could have been spent on productive economic activity instead. On another level, why should the state have a list of my accounts at all? It already sees all the accounts at banks within their territory. They don't need to concern themselves with accounts outside their jurisdiction. In the context of income taxes, it should be enough to report total earnings, regardless of which specific account holds them.
- dharma1 7y agosame in Netherlands afaik. https://www.iamexpat.nl/expat-info/dutch-expat-news/dutch-tax-your-worldwide-net-assets https://www.iamexpat.nl/expat-info/dutch-expat-news/dutch-ta...
- hocuspocus 7y agoN26 is German. Revolut is London based but has an ECB license. Yes, the SEPA scheme is old and working only during business days according to the TARGET2 calendar, but you definitely can process a transfer within a couple hours (my online stock broker does).
- literallycancer 7y agoThe N26 app is garbage. Revolut is OK, but it's a money changing service, not a bank. I did a transfer from the Revolut account and it took 3 days. Topping up is fast because it charges your card, rather than doing a transfer.
- ehrtt 7y agoThe Transferwise borderless account is pretty good, at least I much prefer it to Revolut - since SEPA transfers happen same day, the app is better and the debit card is free.
- literallycancer 7y agoTransferwise refused to open an account for my company because its address was a PO box.