Advice on receiving USD locally

[TicketSeller]

Hi Guys,

Bit of advice needed, I have a UK LTD which resells event tickets in the USA. I seem to be having issues with cross border accounts getting closed (Wise, Revolut). Ive tried sites such as airwallex and payoneer but applications for both were declined stating it was “outside their scope”

I get paid from a marketplace that uses hyperwallet to process payments, so its the same sender for every incoming transaction.

Is there anywhere else I can try, marketplace only pays out to USD local accounts through ACH

 

[jafo]

I would fly to the US and open a local bank account there.

 

[wellington]

TicketSeller said:
Hi Guys,

Bit of advice needed, I have a UK LTD which resells event tickets in the USA. I seem to be having issues with cross border accounts getting closed (Wise, Revolut). Ive tried sites such as airwallex and payoneer but applications for both were declined stating it was “outside their scope”

I get paid from a marketplace that uses hyperwallet to process payments, so its the same sender for every incoming transaction.

Is there anywhere else I can try, marketplace only pays out to USD local accounts through ACH
Click to expand...

You also need to determine if you are violating securities laws -> ... (SERIOUSLY).

 

[Forester]

jafo said:
I would fly to the US and open a local bank account there.
Click to expand...

Well, it might help ”“ but no garantie, see below.

wellington said:
You also need to determine if you are violating securities laws -> ... (SERIOUSLY).
Click to expand...

Exactly. That's the issue, IMO.

Reselling event tickets is in many cases (I have no clue how it is in your case) considered to be illegal. And this can perfectly be the reason for not being onboarded by Airwallex and Payoneer ”“ they are simply cautious. (Not discussing Wise and Revolut accounts getting closed ”“ it can be because of this or because of anything other.) How well did you describe them your business?

Opening an account with a local US bank might help, as they will probably be less nervous than an EMI but
1) I am not sure how big chances has a UK LTD to bank locally in the U.S. without proper substance etc... but OK, you have US customers
2) If you are doing something not perfectly legal, you will be in such a case finished quickly.

So the advice is: Check and re-check the legality of your business first. Then, if you find that everything is legal, apply for an account with any bank or EMI that offers ACH accounts (a lot of, from EMIs some UK, some non-UK as e.g. Currenxie HK) and do your best to describe them your business properly, to assure them that you are perfectly legal. If you are in the greyzone... I am afraid that your chances are not very high.

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

 

[myhand]

You business isn't accepted by most payment processors and EMI's because it is illegal in the eyes of them. You will need some sort of front store to protect your business and to get accepted by them.

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[jafo]

Forester said:
Reselling event tickets is in many cases (I have no clue how it is in your case) considered to be illegal.
Click to expand...

WOW! I was today years old when I found out about this:

Easier to deal with if the OP knows the states he sells into. There is no federal law. I learned something new, although it is a mala prohibita which in this case means nothing to me, personally!