Bank account with Card

[Alexmorgan]

Gentlemen

Im living in Bahrain and i have a business account for my company in US

Im really facing a problem regarding getting money out of my company

What is the legit EMI or Bank that i can get card shipped to me?


Wise dont do it
Blaccatcard wont issue a card for me
Revolut dont even want me to download their app
Bankera wont ship cards
Same with N26
Dukascopy have bad limit besides they report every movement you do to your country of residence
Skrill wont ship either
Advcash is suspicious besides they dont have swift


I dont wanna fake any document to have the card


Do you have any solution or advice ?

 

[Clank]

Aren't you able to open a bank account in Bahrain as a resident?

 

[Mssquirrel]

Xapo bank? It worked for me as resident in Paraguay. I think they would send cards anywhere

 

[Alexmorgan]

Jbb1 said:
Aren't you able to open a bank account in Bahrain as a resident?
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I dont wanna use my Bahrain Personal accounts

mrsv said:
Xapo bank? It worked for me as resident in Paraguay. I think they would send cards anywhere
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comparing to the known banks or EMI are they are good?

Do they considered as broker platform or Bank?

 

[meze99]

If you are looking to bypass CRS, then Xapo Bank won't help, since Gibraltar will report your account to Bahrain.
Perhaps Payoneer will be able to send you a card. Your best option is to go to USA and open a non resident bank account there.
Is there a particular reason why you can't use a debit card that comes with your US business bank account?

 

[Clank]

Alexmorgan said:
Do they considered as broker platform or Bank?
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They are a bank

 

[Alexmorgan]

meze99 said:
If you are looking to bypass CRS, then Xapo Bank won't help, since Gibraltar will report your account to Bahrain.
Perhaps Payoneer will be able to send you a card. Your best option is to go to USA and open a non resident bank account there.
Is there a particular reason why you can't use a debit card that comes with your US business bank account?
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Regarding payoneer i asked them if i can withdraw money from my US company bank account to my personal account with payoneer and they told me no


Regarding the debit card Mercury clearly saying dont use your company account to your personal things thats why im avoiding any personal activity on it besides its a legit company and that will ruin the financial history that im building to it

Jbb1 said:
They are a bank
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I saw the reviews in Trust Pilot

is it scary for 4 digit?

Jbb1 said:
They are a bank
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I asked xapo they do ship cards

The problem is the reviews and they lost USD rail because of the losing their correspondent bank

Any help guys?

Last edited: Jul 28, 2023

 

[meze99]

Personal things can be business expenses sometimes. Xapo Bank at the moment cannot be funded via SWIFT in GBP as well, so there is no way you can send there money from your company, unless you open a business account in GBP in the UK to use faster payments system. If you are able to buy USDT/USDC from your business account then you better use Advcash UnionPay card (2,5% comission for loading + 1% currency convertion), the only issue with it - it works only for offline purchases/atms, there are few websites that accept unionpay cards online, mostly airlines and Chinese trip.com booking service. Xapo Bank is an offshore bank, so it reports everything to your home/permanent residence country. Advcash doesn't, but you pay 3,5% for that privelege and you have to fund it via p2p exchanges using crypto or bogus invoices from an exchanger to wire USD.

 

[Forester]

meze99 said:
Xapo Bank at the moment cannot be funded via SWIFT in GBP as well, so there is no way you can send there money from your company, unless you open a business account in GBP in the UK to use faster payments system.
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Or unless you open a SWIFT and SEPA capable business account in EUR to send it via SEPA.
But I'm afraid that this does not solve the fundamental problem, see below.

meze99 said:
If you are able to buy USDT/USDC from your business account then you better use Advcash UnionPay card (2,5% comission for loading + 1% currency convertion), the only issue with it - it works only for offline purchases/atms, there are few websites that accept unionpay cards online, mostly airlines and Chinese trip.com booking service.
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+ it's costly 🙁

meze99 said:
Xapo Bank is an offshore bank, so it reports everything to your home/permanent residence country.
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And this is the fundamental problem.

meze99 said:
Advcash doesn't, but you pay 3,5% for that privelege and you have to fund it via p2p exchanges using crypto or bogus invoices from an exchanger to wire USD.
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Exactly.

Alexmorgan said:
Regarding payoneer i asked them if i can withdraw money from my US company bank account to my personal account with payoneer and they told me no


Regarding the debit card Mercury clearly saying dont use your company account to your personal things thats why im avoiding any personal activity on it besides its a legit company and that will ruin the financial history that im building to it


I saw the reviews in Trust Pilot

is it scary for 4 digit?


I asked xapo they do ship cards

The problem is the reviews and they lost USD rail because of the losing their correspondent bank


View attachment 5091View attachment 5092 View attachment 5093

Any help guys?
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I (hopefully) understand your position.
Be advised that if you want to avoid Bahrain institutions being informed about your income, the only reasonably realiable way is to open an account in some non-AEOI/CRS country (such a possibility still exists) and wire money there (from your company account).
(For possible account opening in some non-AEOI/CRS country, search here at forums, it was discussed repeatedly.)

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I am just a simple countryman. Anything I say is only a personal opinion, not a certified advice 🙂

If you think it makes sense, you can like it; if opposite, please, tell me, why I am wrong...

 

[Clank]

You can use Zenus bank then, no CRS.

 

[Alexmorgan]

Jbb1 said:
You can use Zenus bank then, no CRS.
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Are they are reliable?

Do they ship cards to me in Bahrain?

 

[Clank]

Alexmorgan said:
Are they are reliable?

Do they ship cards to me in Bahrain?
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Yes, they ship cards to Bahrain.

They are a full reserve bank, so they should be safe.

I've been using them for more than one year without any trouble.

 

[Alexmorgan]

Jbb1 said:
Yes, they ship cards to Bahrain.

They are a full reserve bank, so they should be safe.

I've been using them for more than one year without any trouble.
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Thank you

They good for 4 to 5 figures weekly?

And do mercury will have problem with them?

 

[Clank]

Alexmorgan said:
Thank you

They good for 4 to 5 figures weekly?

And do mercury will have problem with them?
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They are both US banks so no issues.

You can ask them directly.

 

[Forester]

Jbb1 said:
You can use Zenus bank then, no CRS.
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Alexmorgan said:
Are they are reliable?
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Jbb1 said:
They are a full reserve bank, so they should be safe.
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Well, may be. Nevertheless, do not overlook that Zenus Bank is licensed and regulated by the Office of the Commissioner of Financial Institutions (OCIF) in Puerto Rico; and it is not FDIC-insured. Simply a Puerto Rican International Financial Entity (again, I do not mean that they should be unreliable because of that; just it is not a standard US bank).

Jbb1 said:
I've been using them for more than one year without any trouble.
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Good to hear (and good for you 🙂 )

Alexmorgan said:
And do mercury will have problem with them?
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Jbb1 said:
They are both US banks so no issues.
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Just a correction: No, none of them is a US bank. For Zenus see above; Mercury is a financial technology company, not a bank. Banking services are provided by Choice Financial Group and Evolve Bank & Trust ”“ FDIC members (so using Mercury you are using a US bank; but indirectly ”“ as it is usual with EMIs).

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I am just a simple countryman. Anything I say is only a personal opinion, not a certified advice 🙂

If you think it makes sense, you can like it; if opposite, please, tell me, why I am wrong...

 

[Alexmorgan]

Jbb1 said:
Yes, they ship cards to Bahrain.

They are a full reserve bank, so they should be safe.

I've been using them for more than one year without any trouble.
Click to expand...

How long it take them to deliver the card usually?