LeuPay Rejecting Legal, Transparent Businesses

[rowena]

Hello,
I applied for LeuPay business account for my company which is UAE based company. I sent them all required documents and business plan also I completed video verification but today they wrote this:

Dear Sirs,

By this e-mail we inform you on the immediate suspension of the LeuPay Service and termination of the Agreement due to compliance reasons.

Please be advised that your LeuPay Business account is terminated.​

My business is very simple, legal and crystal clear(All documents and structure are legal and real). I make mobile applications for Apple App Store and Apple making payments from directly their official bank accounts. I only work with Apple. This business clean and legal also my source of money is the world biggest and most reputable company!

This is completely ridiculous. They rejected %100 legal and transparent business. I think LeuPay is dangerous company and don't use it for big amounts.

P.S.: I also applied for Transferwise Business account and they opened my account in 5 days...

 

[blockchain4ever]

rowena said:
I think LeuPay is dangerous company and don't use it for big amounts.
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But they rejected doing business with you, they didn't freeze any existing assets. How is that dangerous?

 

[rowena]

blockchain4ever said:
But they rejected doing business with you, they didn't freeze any existing assets. How is that dangerous?
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They simply refusing legal business without giving proper answer. It is a risky company to work with in my opinion.

 

[John Spectre]

It's a not related to the LeuPay, but why you need them if you can use local UAE bank for this purpose?

 

[rowena]

John Spectre said:
It's a not related to the LeuPay, but why you need them if you can use local UAE bank for this purpose?
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UAE local banks don't open a bank account for local offshore companies if you don't have a residency visa.

 

[rowena]

Update: Paysera also accepted my application today. LeuPay creating problem without giving a reason...

 

[KraftyAndy]

Why do you expect them to give a reason which would mean providing information about their internal procedures?

 

[blizz]

Leupay so real banks have no obligations to give any reason for why they reject a business or private person! Your business looked shady to them and that's why they rejected it.

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Be part of the elite, be Mentor Group Gold coo-:!y

 

[Old Spice]

My guess is it's better they rejected you before accepting any funds that might have been frozen after the fact. I'm more worried about banks that accept you as a client and then 3 months later start changing their payments policies to continue with you as a client. i.e. go from 0 to 100 Euros a month in maintenance fees or something similar. Which situation would you prefer?

 

[NewMorty]

How has Paysera been working for you?

 

[rowena]

blizz said:
Leupay so real banks have no obligations to give any reason for why they reject a business or private person! Your business looked shady to them and that's why they rejected it.
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Not correct. My business is crystal clear and %100 legitimate also have same business relationship with Payoneer since 4 years. I have only one money source and it is the world most reputable and biggest company in the world(Apple Inc) and of course Apple Inc is not doing shady business.

NewMorty said:
How has Paysera been working for you?
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Working with no issues also I am working with TransferWise and again no issues.

 

[lookingforward]

Had almost zero problems with LeuPay yet, was quite sad as they changed their ibans to Bulgarian from Maltese, had some of my money stolen from my account once, they were slow, but i got them back, their support is doing good job as well now. Using both personal and business accs there

 

[K12AN]

This is not a rejection of your business. They have stopped accepting all applications in uae as well as many other countries now.
Very sad, as they were the best solution for me.
What did you do? Who did you move to?

 

[rowena]

K12AN said:
This is not a rejection of your business. They have stopped accepting all applications in uae as well as many other countries now.
Very sad, as they were the best solution for me.
What did you do? Who did you move to?
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I am using paysera and tw without issues. Which countries are still available for LeuPay business ?

 

[Martin Everson]

rowena said:
Which countries are still available for LeuPay business ?
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Good question. I see they only accept clients from the below countries but does this cover corporates also?

See https://www.leupay.eu/en/faq/current-client/countries

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

 

[K12AN]

Yes. They only support these countries now for both corporate and personal. Shame

 

[K12AN]

Does Paysera offer GBP accounts?

 

[Martin Everson]

K12AN said:
Yes. They only support these countries now for both corporate and personal. Shame
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Ok good to know. Damn it is a shame but I understand that keeping banking relationships and their business running is more important.

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

 

[rowena]

rowena said:
Hello,
This is completely ridiculous. They rejected %100 legal and transparent business. I think LeuPay is dangerous company and don't use it for big amounts.
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I warned before, they now started to suspend accounts because of compliance issues without giving notice. They closed thousands of customer accounts in one night and now you have to deal with customer service to recover your money.

 

[negon]

They were a bad choice from the very beginning but promoted here by people that simple don't know what they are doing! Anyway, if you have all supporting documents for your company and your person it should still be possible to get your funds released and move to another EMI provider.