What's alternative European EMI to Wise, Currenxie and Zen ?

[dany]

I've been searching for various EMIs and neobanks that can offer me a business account for my small company. I already have the ones mentioned in the title, but I'm looking for additional options in case anything goes wrong.

I'm in the process of selling another smaller project, with a sale price of around €1.5M, and I want to distribute the funds across different EMIs. I've already spoken with Wise support, provided them with all the sales documentation, and they confirmed there shouldn't be any issues. However, I don't want to rely solely on this, so I'd prefer to split the amount into smaller portions.

I have a Swedish AB with paid-in share capital amounting to approximately 1 million SEK.

 

[Martin Everson]

There are hundreds of EMI's in EU. If you have EU residence to go with that Swedish company you have an almost unlimited choice and also a few neobanks.

Wouldn't know where to start to be honest conf/(%

Maybe look through the below list and see ones that suit your needs.

https://thebanks.eu/list-of-emis

Toggle signature
Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.

 

[Houdini]

Do you consider them all on the list reliable, just asking or is one better than others ?

 

[JohnnyDoe]

Martin Everson said:
There are hundreds of EMI's in EU. If you have EU residence to go with that Swedish company you have an almost unlimited choice and also a few neobanks.

Wouldn't know where to start to be honest conf/(%

Maybe look through the below list and see ones that suit your needs.

https://thebanks.eu/list-of-emis
Click to expand...

Some only onboard local companies, others are very picky about foreign companies. I applied with most for an Estonian Ltd with 50k Eur paid capital and audited financials.

Toggle signature

@JohnnyDoe ”“ Your #1 Source for Guidance in Different Offshore Fields​

 

[diatessaron]

If Wise has confirmed there won't be any issues, there will be issues. Try Bank Frick.

 

[Forester]

dany said:
I'm in the process of selling another smaller project, with a sale price of around €1.5M, and I want to distribute the funds across different EMIs. I've already spoken with Wise support, provided them with all the sales documentation, and they confirmed there shouldn't be any issues. However, I don't want to rely solely on this, so I'd prefer to split the amount into smaller portions.

I have a Swedish AB with paid-in share capital amounting to approximately 1 million SEK.
Click to expand...

An (IMO) important question, to avoid misunderstanding:
Do you intend to perform some operations with this 1.5M capital or you want just to park it safely somewhere?
Background: EMIs ”“ in general ”“ are not designed for just parking a remarkable amount of cash there, they expect operations. Some of them say this even very explicitly, see e.g. here https://www.offshorecorptalk.com/th...w-and-do-it-works-with-wise.43193/post-326504. On the other hand, a client with clean funds wanting just to park 1.5M is well welcome in many reasonable banks...

JohnnyDoe said:
Some only onboard local companies, others are very picky about foreign companies. I applied with most for an Estonian Ltd with 50k Eur paid capital and audited financials.
Click to expand...

Just a side-note: At non-former-Soviet-bloc financial institutions, a Swedish AB is perceived very differently (in a positive way) than an Estonian Ltd, I am afraid.

diatessaron said:
If Wise has confirmed there won't be any issues, there will be issues.
Click to expand...

🙂 +1 😉

Last edited: Oct 25, 2024
Toggle signature
--------------------------------------------------------------------------------------------------------------------------------------

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...

 

[Martin Everson]

Houdini said:
Do you consider them all on the list reliable, just asking or is one better than others ?
Click to expand...

You want me to examine all 600+ ?

Toggle signature
Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.

 

[Houdini]

No No, I just wanted to ask if you had any favorites 😀

 

[Martin Everson]

Houdini said:
No No, I just wanted to ask if you had any favorites 😀
Click to expand...

lol...no favorites. But if you want to keep the door open to a crypto friendly EMI with crypto backed loans etc then maybe Nebeus. They are based in Spain but are fairly new.

https://nebeus.com/


But if credibility and large scale of operation as an EMI matters than Ebury which has Santander Bank as one of its backers. I would put it in same level of credibility as Wise if not higher in fact.

https://ebury.com/

Toggle signature
Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.

 

[dany]

Martin Everson said:
But if credibility and large scale of operation as an EMI matters than Ebury which has Santander Bank as one of its backers. I would put it in same level of credibility as Wise if not higher in fact.

https://ebury.com/
Click to expand...

very helpful, I will try to apply for an account with them. I have been looking for an alternative to wise for a long time. Revolut does not work for me.

 

[Houdini]

Martin Everson said:
lol...no favorites. But if you want to keep the door open to a crypto friendly EMI with crypto backed loans etc then maybe Nebeus. They are based in Spain but are fairly new.

https://nebeus.com/


But if credibility and large scale of operation as an EMI matters than Ebury which has Santander Bank as one of its backers. I would put it in same level of credibility as Wise if not higher in fact.

https://ebury.com/
Click to expand...

That's definitely something I can work with. I haven't used these EMIs' services before, so I'll go ahead and apply for an account with them to have a few alternatives on hand.

Thanks for your help””you're the go-to person when it comes to finding a reliable service for storing funds!