What real bank or EMI?

[clemens]

I would like to get a thread here that could give a picture of which bank or EMI is the absolute easiest to open an account in! You can either use the Poll below or just post what you have to say below.

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[clemens]

Let me start with Transferwise and my experience. I have opened a UK account with Transferwise for my UK LTD, all they needed was a passport or a bill as well as all company documents. The whole process took less than 3 hours. After they got my documents there were only a few questions and then they wanted a web page address which they got. Since then, I've probably moved around £ 230,000 without the big issues.

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One of my favorit articles in Mentor Group ~ Sending money anonymously archieve Financial Anonymity

 

[Brianthedog]

we were refused by transferwise for our US LLC because " Unfortunately, we will not be able to provide our services in such capacity as we would only be able to transfer your treasury payments and not customer-related ones."

opened an account with mercury really very easily, but they then closed it after a few months in the name of "compliance"

We found a US bank that would accept non us alien owners remotely, and was easy to open, and we'll see how that goes. Reasonably big name, but they didnt ask for evidence of address etc for the owners or the business, so i figure its only a matter of time.

 

[ShillGates]

Transferwise - that's good - however they stopped after about 300k and told me to pick the cash up after 60 working days lol.

apparently one of the corps i did business with has the same name by accident now as some fraud company that happened in a different geo about 25 years ago.

What's this world coming to hahaha

revolut - sure easy to open but don't forget - all emi tout for business as the make money if your monthly fee mainly so all emi want is a customer who deposits 1000 orso and then forgets and let them charge 20 a month for life .
anyway - I also got a few businesses at revolut - 4 years doing fine - until a few weeks ago they closed without warning - think I can collect my 7 figures money from them in a few months as well - roll my eyes .

maybe this thread should be about - the easiest emi to give you your money back after the pull the plug on you ?

Last edited: Sep 23, 2020

 

[Brianthedog]

Why on earth would you keep a million in an EMI?

On that note, if you had a million dollars/euros why would you be on a website like this, and not taking advice from some of the most expensive professionals in the world?

 

[otcable]

You don't get to be a millionaire by paying people millions to tell you things =)

 

[ShillGates]

because focusing on making money is better than thinking what can go wrong or reducing taxes.

no professional adviser can overrule compliance or some stupid bank algorithm. Besides lawyers are the most overpaid and overrated people in this world as at the end of the day you are their cli

Yes diverse investment products are needed and besides - I don't lie awake about blocked money as I know I will get it at some point since I pay my taxes and declare everything. However I can afford to loose it as well.

Transfer wise does communicate but 60 working days is not according to the aml rules but revolut - is shocking do not acknowledge anything whatsoever.

looking at the pretty picture on revolut website screenshot- in excess of 1 million lol besides we been with them for years and had our twice yearly audit done - so forgive me for thinking that everything is ok but suddenly out of the blue some switches off the light and no one is home at revolut.

oh and as for this forum love it as I can see the struggles and questions coming by I had ten years ago and it made me realize something I would like to share

first build the business and make money the easiest setup way for you then worry about tax reduction when you can actually afford it and it makes sense from a personal real life point of view. Live in a high tax country and love life there - why move - suck it up. It will cost you probably more in lost opportunity and problems with banking than you would actually save in taxes by moving to the cook islands.
If you pay 40 percent taxes ;

60 percent of 1 million is still more than
95 percent of 100k - if you would have moved to Malta at 5 percent but lost opportunity due to banking issues.

 

[erni]

OffMyBack said:
60 percent of 1 million is still more than
95 percent of 100k - if you would have moved to Malta at 5 percent but lost opportunity due to banking issues.
Click to expand...

I could not agree more! second that. Transferwise has at least been good for me.

 

[drspak]

brianthedog -
i am interested in knowing the name of this usa bank.
I'm afraid Mercury will close my bill soon.

 

[sonato]

Is Mercury bank still valid option?