Best Physical Bank

[SimpleGuy]

Hello everyone,

I have a company in the UAE, in free-zone, a local office and a full-time employee present on site. Also two subsidiaries (Czech Republic and Madagascar). I use Stripe to collect payments.

For the subsidiaries I have no problem for the bank accounts. But for my parent company in the UAE, a few. I have accounts with Currenxie, Multipass and Emirates Islamic.

For EMIs, Currenxie and Multipass don't provide credit cards, and I'm pretty scared they might close the account overnight, not being able to discuss it with an advisor.

For Emirates Islamic, you might think it's a real bank. Admittedly, we have a real adviser who responds 1 week later (like a robot), but the service is bad, the fees are exorbitant and the card is only in AED.

I am looking for a bank in a safe country (Singapore, Hong-Kong, United Kingdom, Mauritius, because apparently it is too complicated in the EU). I'm looking for a physical bank, not an EMI, that provides multi-currency accounts, a multi-currency card, and good customer service.

Can anyone recommend one to me?

Cordially,

 

[JohnLocke]

You may speak with @Gediminas or @Fred both are very good in banking for such UAE entities.

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[Forester]

SimpleGuy said:
Hello everyone,

I have a company in the UAE, in free-zone, a local office and a full-time employee present on site. Also two subsidiaries (Czech Republic and Madagascar). I use Stripe to collect payments.

For the subsidiaries I have no problem for the bank accounts. But for my parent company in the UAE, a few. I have accounts with Currenxie, Multipass and Emirates Islamic.

For EMIs, Currenxie and Multipass don't provide credit cards, and I'm pretty scared they might close the account overnight, not being able to discuss it with an advisor.

For Emirates Islamic, you might think it's a real bank. Admittedly, we have a real adviser who responds 1 week later (like a robot), but the service is bad, the fees are exorbitant and the card is only in AED.

I am looking for a bank in a safe country (Singapore, Hong-Kong, United Kingdom, Mauritius, because apparently it is too complicated in the EU). I'm looking for a physical bank, not an EMI, that provides multi-currency accounts, a multi-currency card, and good customer service.

Can anyone recommend one to me?

Cordially,
Click to expand...

JohnLocke said:
You may speak with @Gediminas or @Fred both are very good in banking for such UAE entities.
Click to expand...

Yes, definitely. Especially @Fred is IMO really knowledgeable.

Further:

1) To the best of my knowledge and experience, Currenxie does not close accounts “out of the blue”. And note e.g. when you communicate with their support by e-mail, there always is a phone number to reach the clerk who is writing to you (in the e-mail signature). It is true that they do not issue cards to non-HK companies; nevertheless, you can take cards from Soldo or perhaps Wallester (check, if you do not know them).
I cannot say about Multipass, though.

2) Do you consider Switzerland and/or Liechtenstein to be safe countries? If so, that you might be quite well served there ”“ but it depends on the business you are into, the year turnover and the amount of money that you are able / willing to deposit: can you share? I might be able to direct you somewhere then...

3) I cannot say about Madagascar but I can imagine quite well that some bank in the Czech Republic can onboard your UAE company, too (I have in mind some particular as I know this market a little bit). But in such a case I would be afraid that the Czech taxmen would be eager to tax this UAE company ”“ which is the situation that you probably do not want to happen...

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