TW closing UAE accounts

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Fred said:
Fred said:
We always open accounts for Dubai Companies in Paysera for our clients.

There is a workaround we can provide you via PM to keep it working in future.

In our eyes Paysera is the best Electronic Money Provider for companies incorporated in UAE for EUR.

Forget about all the other rip off EMI's with the non refundable application fees and even can't provide SWIFT payments at all or only in in name of the EMI instead of your company.
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Hello, Fred. I would like to know more about the Paysera setup. I have signed up for their services for a BG company, but couldn't do it for my RAKICC one.
 
orange said:
orange said:
1 week, hahahahahahaha, optimistic but might be possible

Payoneer - was the quickest to setup, took a just a few days, but they do take their 2% which is a lot. But its a working solution. (they accept only deposits from corporations such as google, apple, amazon..)
- got GBP account with sort code and account number, EUR account with IE IBAN (ireland)
- tested with payment from UK google developer account, and then transfered it to my personal account in Croatia, smooth sailing (except that darn 2% fee)

Currenxie - very professional and smooth setup, took about a week or two, mostly because they needed a "Certificate of Incumbency" no older then 6 months, and my agent took her sweet time (about a week) to get it. But very pleased soo far.
- got GBP account with sort code and account number, and EUR account EE IBAN (estonia). (they also cant accept payments from non-business accounts, as far as i know)
- google accepted UK account as payment method (they do this by sending a small amount), but still haven't done the full transfer as its still not that time of month
- but they have fixed small fees which is awesome

Paydo - at some point they stooped responding, answering my nudges with "we're on it, well let you know...", its been 22 days since I sent over the documents


My advice would be Currenxie and Payoneer as a backup (at least that works for me as an app developer)

ps. you can lower the fee on payoneer to 0.6% as mentioned by rowena if you have a high enough turnover (over 100k eur), but it requires you to bite the bullet a few months until they see that's a normal thing for you.
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I can confirm Payoneer is working, but they are very rigid and are basically marketplace oriented. However, I have also been able to receive payments from them from Stripe successfully. Their bank account is not debitable though, so this is a problem for refunds. Also, they are pretty expensive for sending money to traditional banks.

Thanks for the Currenxie review. I will try them.

Any other solutions you have found this far?
 
OJ333 said:
OJ333 said:
I can confirm Payoneer is working, but they are very rigid and are basically marketplace oriented. However, I have also been able to receive payments from them from Stripe successfully. Their bank account is not debitable though, so this is a problem for refunds. Also, they are pretty expensive for sending money to traditional banks.

Thanks for the Currenxie review. I will try them.

Any other solutions you have found this far?
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Currenxie works, and im very happy with it so I stopped looking (i have payoneer as a back up).
Now that I have been using it for a while, I can say that transactions are fast (usually same day for in and out transfers) and cheap fixed transaction fees.
For my scenario where I get payed by google/apple as an app developer it works really well.

There are only two slight downsides:
- you have to pre-approve every outgoing IBAN, and that takes a few hours to approve. Once the IBANs are in the system/contact list, its fine going forward. But if you have to send money to a lot of new people could be a hassle.
- the transaction info on the sent money is filled with Currenxie name and data, with your part going on the end of it, so you might seem less professional sending money to people

Other then that its great, both are not issues for me
 
When they wanted to verify the address did you use a certificate of incumbency and if yes, does your address contain a PO Box?
 
i had nmoney stock in payoneer for 6 mounth , on their decision without explanation. it took 12 mouths to recover funds from trasferwise good luck with them , if you move more than 10k a mounth is useless
 
the ai software are design to learn from mistake , but hopefully your account will not lock in the learning process
 
orange said:
orange said:
Currenxie works, and im very happy with it so I stopped looking (i have payoneer as a back up).
Now that I have been using it for a while, I can say that transactions are fast (usually same day for in and out transfers) and cheap fixed transaction fees.
For my scenario where I get payed by google/apple as an app developer it works really well.

There are only two slight downsides:
- you have to pre-approve every outgoing IBAN, and that takes a few hours to approve. Once the IBANs are in the system/contact list, its fine going forward. But if you have to send money to a lot of new people could be a hassle.
- the transaction info on the sent money is filled with Currenxie name and data, with your part going on the end of it, so you might seem less professional sending money to people

Other then that its great, both are not issues for me
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Thanks for your advice on trying Currenxie, @orange. The account opening with them for my FZ-LLC worked great.

I am about to release my first app for iOS and Android with IAPs from the FZ-LLC and was wondering whether my payouts from Google and Apple will be subject to a 30% US withholding tax. Can you let me know, whether any US withholding taxes are deducted from your earnings from Google and Apple?

Did you select GBP and EUR as your payment currencies from Apple and Google due to tax optimization or just out of personal preference? Thank you!
 
It looks like you guys get off topic here! Please open a new thread to discuss anything then not related to the topic.

As I always say, it is so boring to pull the warning button.

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orange said:
orange said:
Currenxie works, and im very happy with it so I stopped looking (i have payoneer as a back up).
Now that I have been using it for a while, I can say that transactions are fast (usually same day for in and out transfers) and cheap fixed transaction fees.
For my scenario where I get payed by google/apple as an app developer it works really well.

There are only two slight downsides:
- you have to pre-approve every outgoing IBAN, and that takes a few hours to approve. Once the IBANs are in the system/contact list, its fine going forward. But if you have to send money to a lot of new people could be a hassle.
- the transaction info on the sent money is filled with Currenxie name and data, with your part going on the end of it, so you might seem less professional sending money to people

Other then that its great, both are not issues for me
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Are you still doing great with currenxie? I'm in the onbaording process with them.
 
Zikki said:
Zikki said:
Are you still doing great with currenxie? I'm in the onbaording process with them.
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Yes, smooth sailing with currenxie all the way.
I have been using them for the past 8 months. I'm getting paid from google/apple to currenxie. I also transfer funds from there to my personal bank account in my country every month without problems. Currenxie to personal transferwise is also working if anyone was wondering.
 
orange said:
orange said:
Yes, smooth sailing with currenxie all the way.
I have been using them for the past 8 months. I'm getting paid from google/apple to currenxie. I also transfer funds from there to my personal bank account in my country every month without problems. Currenxie to personal transferwise is also working if anyone was wondering.
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Do Currenxie give IBAN?
 
I'm with Currenxie and it's all good.
They don't provide debit card (unless you have a HK company and for business depense)
Not in the website policy, but they don't approve any Crypto/Forex Trading related platform (transfer/receipt)

I would recommand CurrnencyFair instead of Currenxie for UAE companies, as they have lower fees for conversion to AED.
(Especially if you live in UAE)
 
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