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my own bank

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correltrade
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my own bank  Reply with quote  

I know it may seems to be a crasy question... but it is serious.
Do you have any idea how one can create his own bank.
Of course you can always take a jar, put some money inside, and call it a bank, but it is not what i mean.
The regulation is certainly different depending in the countries, but what could be the easiest way to create a bank that accept online payments ?
For instance, do fiscal heavens allow you to open banks (I know that Anguilla do not...) ?
Post Wed Sep 28, 2005 7:43 pm
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Doro Ajani
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Yes, you can do it. It's really a matter of finding a suitable jurisdiction in order for you to get a banking license from.

For that, you'll need to do some research.
Post Thu Sep 29, 2005 8:13 am
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correltrade
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quote:
Originally posted by Doro Ajani
Yes, you can do it. It's really a matter of finding a suitable jurisdiction in order for you to get a banking license from.

For that, you'll need to do some research.

Thank you for this comment, but I already know that we can do it...
...if not there wouldn't be any private bank.

Bests,
Maxim
Post Thu Sep 29, 2005 1:39 pm
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ScottRigot
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I've never heard of anyone actually trying to setup their own bank.
Post Tue Oct 04, 2005 7:46 pm
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WorkerBee
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ok I figure by now you've probably done some research-but I just wanted to say that there was a small group of my associates who did open thier own bank (offshore) the plan was to use a certain percentage of the banks cash on hand to trade notes on the international market-the plan failed miserably-the bank ,even though it hired a trader to act on its behalf(out source third-party service provider) and even though the funds were transfered to the traders client account(the trader is a private contractor-not a bank employee)was accused of attempting to trade securties on the international market without having been designated as a TRADING BANK eventually lost it's Charter and had all of it's funds seized. My associates have yet to recover from this blow-I was closely observing how all of the events unfolded and it's only my opinion that even though you may be able to perform all of the initial requirments to get a bank opened-it does not guarantee that you will be able to KEEP the bank from continually be accused of some level of impropriorty that will keep it's practices allways under close scrutiny by local or international regulatory entities-all of which have long standing relationships with the Major Players which are set up to automatically challenge wether or not newcomers have thier t's crossed and thier i's dotted. The short version of all of this is as follows: sure you can open a bank-but just as it is in most businesses which are extremely regulated it would be wise to attempt to "get an invitation to the party" - just because you found your way past the front door does not guarantee that you may stay untill you are ready to go. "I was just one of many depositors whom were told that they were part owner of a PRIVATE BANK-we belived that our bank had the ability to conduct it's business in the international arena - OH but we have been SHOWN OTHERWISE
(all depositor(s) who did not appear in federal court to explain just what we thought we were doing attempting to bank offshore Lost the FULL AMOUNT OF THIER DEPOSIT) Some only lost thousands-some lost Millions - not one red cent has been returned to it's rightfull owner. Not trying to scare anyone-just merely sharing my previous experience with you in the hopes that it might cause you to be extremely dilligent in your research.
Post Fri Jan 27, 2006 6:53 am
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WorkerBee
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ok I figure by now you've probably done some research-but I just wanted to say that there was a small group of my associates who did open thier own bank (offshore) the plan was to use a certain percentage of the banks cash on hand to trade notes on the international market-the plan failed miserably-the bank ,even though it hired a trader to act on its behalf(out source third-party service provider) and even though the funds were transfered to the traders client account(the trader is a private contractor-not a bank employee)was accused of attempting to trade securties on the international market without having been designated as a TRADING BANK eventually lost it's Charter and had all of it's funds seized. My associates have yet to recover from this blow-I was closely observing how all of the events unfolded and it's only my opinion that even though you may be able to perform all of the initial requirments to get a bank opened-it does not guarantee that you will be able to KEEP the bank from continually be accused of some level of impropriorty that will keep it's practices allways under close scrutiny by local or international regulatory entities-all of which have long standing relationships with the Major Players which are set up to automatically challenge wether or not newcomers have thier t's crossed and thier i's dotted. The short version of all of this is as follows: sure you can open a bank-but just as it is in most businesses which are extremely regulated it would be wise to attempt to "get an invitation to the party" - just because you found your way past the front door does not guarantee that you may stay untill you are ready to go. "I was just one of many depositors whom were told that they were part owner of a PRIVATE BANK-we belived that our bank had the ability to conduct it's business in the international arena - OH but we have been SHOWN OTHERWISE
(all depositor(s) who did not appear in federal court to explain just what we thought we were doing attempting to bank offshore Lost the FULL AMOUNT OF THIER DEPOSIT) Some only lost thousands-some lost Millions - not one red cent has been returned to it's rightfull owner. Not trying to scare anyone-just merely sharing my previous experience with you in the hopes that it might cause you to be extremely dilligent in your research.
Post Fri Jan 27, 2006 6:53 am
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