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AIB & Bitcoin Withdrawals

  • 05-07-2021 1:42pm
    #1
    Registered Users Posts: 7 brianstann


    In people's experience, how do AIB react if sizable amounts are transferred from reputable exchanges (Bitstamp, Kraken, etc) to AIB? I have a longstanding personal account there but never withdrew/made transfers from exchanges. My initial purchases of BTC were actually from a transfer I made from AIB to MtGox and Bitstamp years ago, so I have proof of where the funds came from.

    Will they definitely ask questions / start a KYC/AML process that will drag on, or does it depend?

    If the amounts are quite large (6 figures+) does the situation change at all?

    I am mostly worried about having account shut if they decide they dont like the crypto source of funds : is that likely or would the worst case be they simply say dont transfer those funds here?

    Cheers


Comments

  • Registered Users Posts: 7,396 ✭✭✭ Chinese whospers


    brianstann wrote: »
    In people's experience, how do AIB react if sizable amounts are transferred from reputable exchanges (Bitstamp, Kraken, etc) to AIB? I have a longstanding personal account there but never withdrew/made transfers from exchanges. My initial purchases of BTC were actually from a transfer I made from AIB to MtGox and Bitstamp years ago, so I have proof of where the funds came from.

    Will they definitely ask questions / start a KYC/AML process that will drag on, or does it depend?

    If the amounts are quite large (6 figures+) does the situation change at all?

    I am mostly worried about having account shut if they decide they dont like the crypto source of funds : is that likely or would the worst case be they simply say dont transfer those funds here?

    Cheers

    They might look into it, but I very much doubt they'll close the account if you can detail how you got from €A to €B.

    I’m in love with him and I feel fine.

    ^^^ although, I’m okay with getting back to winning ways, Jurgen.



  • Registered Users Posts: 330 ✭✭ HGVRHKYY


    Don't think you've anything to worry about there, there'll have been plenty of people who've done this over the past year or two with the recent bull run. Just notify them beforehand


  • Registered Users Posts: 15,223 ✭✭✭✭ Donald Trump


    They will include your transfer on their reports to Revenue.


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