If you could use a SEPA bank account in Europe, here is a new way: Shine, a French banking startup not dissimilar to the Germany’s N26, offers free bank accounts to anyone with a self-employed status with a connection in France.
Shine only launched in March 2018 and even though they hardly have 1.5K Twitter followers at time of writing, the rumor has it they already opened 10K bank accounts.
10 000 users en 3 mois 😍 Nous avons compté, si nous vous remercions tous en 3 mois aussi, nous aurions 8,5 mercis à dire par jour chacun. C'est faisable. 😏 pic.twitter.com/GYGwYf7nJk— Shine (@shine_tools) June 5, 2018
The biggest advantage is obvious - a free bank account in France within the European SEPA zone. It is not necessary to own or lease a house in your name in France, as per the Shine Tools FAQ it is sufficient if someone who does is willing to participate as your host. You both then need to jointly pass the standard KYC and AML checks involving national ID scans and proofs of address.
The Shine app targets individuals who work as micro-entrepreneurs at the moment. The status of the enterprise must be verifiable, currently supported are only the following few statuses but more are going to be added during 2018.
- Sole Proprietorship (EI), Individual Company with Limited Liability (EIRL)
- Simplified Joint Stock Company (SASU)
- Unipersonal Limited Liability Company (EURL).
Shine has 24/7 email support and offers automated tax prediction tool as well as tax consultants ready to answer your questions.
Shine Tools and Crypto
We reached out to Shine to ask whether they avoid cryptocurrency-related dealings.
Judging from the March 2018 positive news about loosening of cryptocurrency business regulations from the French government we expected them to be crypto-friendly.
However, a representative of Shine Tools responded to us that they are NOT accepting any self-employed customers nor companies that work in the cryptocurrency business. Transactions with cryptocurrency trading platforms will be flagged and detected p2p trading patterns will be problematic.
Data is beautiful
Top 8 Women in Blockchain Technology [Infographic]
When it comes to women in crypto, the pre-2016 OG heads will probably come up with names like Alena Vranova and Blythe Masters. Alena Vranova is the former CEO of Satoshi Labs, the company that...
Blockchain Consortium in Trade Finance: 6 Notable Networks [Infographic]
The success of trade finance blockchain implementations depends on how widely they are adopted. That's why we have seen businesses form consortia based on similar interests.
Comparing Forex Market with Cryptocurrency Markets [Infographic]
One of the few metrics that cryptocurrency markets have in common with the forex markets in 2018 is the high percentage of total trades being located on few most popular markets.
Brand development in forex and crypto: Most expensive domain names [Infographic]
Crypto infographics - Most expensive domain names in forex and crypto. Targeted brand development in forex and crypto with domain names.
Blockchain Technology 101: Blockchains, Blocks and the Role of Price [Infographic]
Blockchain technology 101: What is blockchain, what types of blockchains exist and what role does the cryptocurrency price play.
Real-world companies that accept crypto payments [Infographic]
Infographic - Graphic map of businesses that let customers pay in bitcoin.
Infographic: Blockchain Hacks & Crypto Trading Platform heists 2018 vs 2017
Blockchain infographic comparing the biggest crypto heists of 2018 and 2017. In 2017 the focus lied more on ICOs, smart contracts and wallet.
15 crypto kings that are making history with their engagement in the field of cryptocurrencies
Coining The Bucks With Cryptocurrencies Have you ever wondered how much masters of the cryptocurrencies are worth? Like the guy who founded Ethereum, or the one who started Ripple, for example. The answer, in short,...
The Good And The Bad Of ICOs
Infographic: The good and bad of ICOs - Which token sales raised the most money in 2018?
Industry News Releases
While the leaderboards are getting filled up with variety of blockchain games sporting all sorts...Read >>
- Devery Doubles Down on B2B Enterprise Solutions
- Wyre acquired Hedgy, platform for smart contracts on Bitcoin
- Blockchain KYC Platform traceto.io Partners with Yincubator
- Zilliqa announced blockchain grants for technology developers
- SALT Lending on the inquiries about the state of their business
- BitGo, Kyber Network and Republic Protocol announced development of a Bitcoin-backed ERC20 token