crypto currency or digital currency trading

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Ali Cheeema New member

Member since 03 April 2022

Ali CheeemaNew member03 April 2022 21:20:31

asslam o allaikum all .

I am living in Saudi Arabia since from 2011, recently i started trading of Cryptocurrency in P2P mode . i used my personal bank accounts for this purpose . i used these accounts for sending & receiving amount from different buyers & sellers with in Saudi Arabia . now my bank account is closed permanently by the bank , due to lot of transactions. Now I have stop this freelance business. During my visit in Bank he told me that your account is closed because you open account for Salary transfer but you are using this for your business. So i think may be there is any other type for this . please suggest me.

I don't wants to close this online freelance activity .

please suggest me any Saudi Bank that can accept maximum transactions limits . & amount up to 1 million (as transactions) per month .

or please suggest me any registration by Saudi Govt to start online p2p trading of Digital Currency.

Thank you

Arsal7 ViP

Member since 09 November 2020

Arsal7ViP03 April 2022 21:34:44

1357

Stop that at once. You will go to jail for this. You can not do any business here while living on a working visa.

You were lucky that the bank did not alert the authorities.

Lemongrass 2021 Member

Member since 20 February 2021

Lemongrass 2021Member03 April 2022 21:35:34

There is no bank with accept such amount in transfer in or out unless you have registered company

The bank will not accept that due to security

The best thing to do is to find a good Saudi man and open up small business with based on that you will have to receive and send money without any resistance

Take advice from any banker as well with give you proper feedback and decision

Regards

Abdo

Ali Cheeema New member

Member since 03 April 2022

Ali CheeemaNew member03 April 2022 21:52:32

thanks for suggestions . please also guide me . what are the requirements if i wants to start same in Dubai .

Ali Cheeema New member

Member since 03 April 2022

Ali CheeemaNew member03 April 2022 22:14:40

@Arsal7

I was working Online . as a Part time .

Arsal7 ViP

Member since 09 November 2020

Arsal7ViP03 April 2022 23:35:49

1357

@Arsal7
I was working Online . as a Part time .

- @Ali Cheeema

It just doesn't matter.

You cannot do this while having a working visa.

Now, it is upto you, keep going and you will find yourself in jail eventually.

What you can do?

Use the bank of your home country.

sathappan Active member

Member since 29 September 2014

sathappanActive member05 April 2022 10:18:13

@Ali Cheeema May i know which platform u r using for online crypto trading. I would suggest u to deposit and withdraw in ur nationality bank account. Need further details contact let me guide how does it work

Mohammad0909 New member

Member since 05 April 2022

Mohammad0909New member05 April 2022 12:52:15

@Ali Cheeema Hello. The same thing happened to me too. Can you please tell me what happened after the bank closed your account? Were you able to get back your funds? Did it become a big issue? Pls reply brother as I am very scared

Mohammad0909 New member

Member since 05 April 2022

Mohammad0909New member05 April 2022 13:10:32

@sathappan hello! Can you pls guide me too on how to do that?

sathappan Active member

Member since 29 September 2014

sathappanActive member10 April 2022 10:39:08

#10

@Mohammad0909 ok. No probs. Contact me

Fufq New member

Member since 05 November 2022

FufqNew member05 November 2022 15:16:17

#11

any updates regarding closed bank account. are they open now or still closed

mavenlou09 New member

Member since 25 October 2022

mavenlou09New member01 March 2023 03:52:04

#12

@Ali Cheeema hello are you still into p2p

heyes68 Active member

Member since 28 November 2021

heyes68Active member17 September 2024 20:11:11

#13

SAMA hasnât yet created a clear legal framework for companies to operate crypto exchanges or services, so just switch to a business account. After that, look into https://solana-scripts.com/pumpfun-bundler. This tool helps track trades and reduce bank issues with a clear, compliant system.

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