How to prove source of funds 4 bank?

[Rey Mysterio]

As there are certain factors of security especially when it is cryptocurrency related it is very common for a bank to require a lot of details regarding your cryptocurrency and how you came to be in posession of it. Giving the required information will help them understand the origin of your funds are legit and not of any fraudulent nature they'll soon verify and give you back access to your account.

[1715086507]

1715086507

[udidrone]

After transfer BTC to banks account finally, they frezze my account and asked to provide documents, source of funds. From my crypto wallet, funds where transferred to banks account, so I transfer to my self. What documents could be about BTC source...?

can I ask what country are you? because here in my country it is not advisable to do that because when they sees that your fund came from cryptocurrency they will really freeze your account and will ask for proofs. For me you better not told about your earning that come from crypto. Now, if you will provide a documents that will prove your income come from crypto, then expect you will not be able to recover your acct anymore.

Which country is it? I just know if we deposit on Bank, they will freeze our account if connected with crypto. If in my country there are local exchanger to exchange BTC to fiat first then withdraw in bank.

[pat4cryptoreal]

In my country there is a stipulated amount of money a personal account can deposit or withdraw per week and there is amount a cooperate account can deposit or withdraw also per week. To avoid your bank account being block follow the rules strictly. Now that your account have being go to your branch manager with some prove immediately.

[Kakmakr]

Just a pointer for future reference - Localbitcoins create an online receipt for every transaction you make. I’m sure other wallet providers do the same.

How much money are we talking about which led to your account being frozen please OP?

I think the Bank flags all tx's above $10 000, but they also know what Bank accounts are used by Bitcoin exchanges, so they will flag those to frustrate Bitcoin users. This is just another example of how Banks <centralized financial organizations>, control people's lives.

The Banks cannot target individual Bitcoin transactions if it is done between two parties, but they can control Bitcoin to Fiat conversions. So the solution might be to stay away from Fiat and only to deal with Bitcoin, if you can.

[jseverson]

Jesus dude, you've been transferring 20k Euros a month? How many months were you even able to get away with this? Either way, if you're handling this much money, your best bet would be to hire a lawyer.

You mentioned payslips and I hope you're earning more than 20k a month. Just out of curiosity, what actually is your source of funds? Have you simply been trading crypto, etc.? Exchanges have a trail, and if you could get that, it might help you get off the hook.

[Connor Guzman]

There are the crypto files and documents of your exchange and buying memos. You can show this to them. Also, your bitcoin profile and waist number would also be helpful. But if somehow your country doesn't allow bitcoin, then it'll not be easy.

[Barbarian]

If you live in a country where laws are strict in terms of money laundering and proving source of income then you should consider taking out your money using a bitcoin atm machine. The fees are higher but at least you can get them without proving source of income

His bank account is frozen so there is nothing he can do now, as soon as that money hits your bank account then it may be labeled as a suspicious transaction and the bank will ask you to explain yourself, this is why it is better to do the explaining before that happens to avoid this scenario.

[pawanjain]

This is the reason why bitcoin was created  These banks can control our money whenever and however they want. What's the use of our money if we can't even use it.
If bitcoin was as widely adopted as fiat then we didn't had the need to convert BTC to fiat.

For your query, just tell the bank the source of the income. How did you get those BTC whether it was from trading, investing, bounties or airdrops whatever it is. Tell them it's not illegal to earn money through cryptocurrencies and provide them the proof that you have earned it legally and request them to unblock the bank account.

[denzkilim]

It's hard to prove something that should be anonymous, and maybe you had withdrawn a large sum of money or something that's why it has affected your reputation and current status of your bank. Probably they have a rule whether they support cryptocurrencies or not. I think you should check out with the manager there and try to convince that you had done the right thing.

I'm just wondering why you created a new account to ask a question, assuming you have one.

There are a lot of cases in our country that involves the withdrawing of crypto currency to fiat transferred to a bank and the money is being frozen by the bank especially when it is a large amount of money, bank employees will surely ask for proofs that you're money is from a legit source of fund and will ask you to provide documents.
The best thing that the OP can do is to take screenshots of his/her transactions from where did he/she get his funds and print it then provide it to the bank the asks for it. I don't know if the bank officials will accept this kind of documents or proofs but its worth trying rather letting your money be frozen forever.

Moral lesson of this situation is to never cash out a huge amount of money from any bank especially if those banks don't accept crypto currency connected funds.
It's better to cash out a few amounts of money at different days to avoid this kind of situations on banks especially if your country doesn't have a solid ruling on the use and possession of crypto currency related funds.

[Jadyn Arroyo]

There is no document that you can provide, since the Bitcoin is an anonymus system. You should check if it is allowed to make such kind of transaction. Try other methods where the bank does not want to check your source of income.

[prehisto]

This is quite stupid actions.

You should have known that your account would be flagged. Use local-bitcoins or at least dont do 20k at one time XD.

[gentlemand]

Crypto is anonymous, so I can't provide any documents.

Either you paid for it with fiat, in which case there'll be either bank transfer details or cash withdrawals to point to. Or you earned it, mined it or were airdropped it on places like this which can be easily demonstrated too.

You didn't magically end up with thousands of Euros in crypto. You obtained it somehow and there'll be a way of proving it.

[Oniko]

Money does not come from nowhere. The money comes from a bank and is credited to your account. Apparently this bank does not have a high level of trust, so questions arise from your bank.

[gabmen]

Crypto is anonymous, so I can't provide any documents.

Either you paid for it with fiat, in which case there'll be either bank transfer details or cash withdrawals to point to. Or you earned it, mined it or were airdropped it on places like this which can be easily demonstrated too.

You didn't magically end up with thousands of Euros in crypto. You obtained it somehow and there'll be a way of proving it.

Yeah i was in this situation once before and i've provided screenshots of exchanges where i trade and a couple of campaigns i've worked on. I don't know but i think it helps if you also have existing banks accounts to show along with it.

[kopijos]

After transfer BTC to banks account finally, they frezze my account and asked to provide documents, source of funds. From my crypto wallet, funds where transferred to banks account, so I transfer to my self. What documents could be about BTC source...?

documents commonly used for transactions are passports and ID cards. it is a natural thing to use to see your income in crypto and that avoids the suspicion of the bank to see your transaction.