Between These Three Mainstream EMIs, Which Would Work Best? (Monese / Transfer Wise / Revolut)

[GC12]

I've just received my Revolut card. I've ordered the metal card and it's sexy but it is any good? I heard they trigger "source of income" checks extremely easy so I'm thinking of keeping it a bit and then canceling it.

From these four services, which do you consider to be the safest (as in not trigger KYC verifications):
- Monese
- Transfer Wise
- Revolut

I kinda regret signing up for Revolut to begin with, but worst case scenario, I'll pay two months fee to cancel. No big deal. However, Monese and Transferwise are actually useful? In the context of what this forum is all about.

 

[extremedox101]

-monese limits are crap , i don't think they are for serious business maybe if you consider $500 big .
-transferwise will trigger source of funds soon or later i read in this forum mid 5 figures , still is better standard emi than others(i use with caution)
-revolut is not available to me , but i don't think it's fancy . many bad reviews online like closing accounts and no support reply.

 

[GC12]

For transfer wise, mid five figure per transfer / top up or per year?

 

[moneyrequired]

extremedox101 said:
-transferwise will trigger source of funds soon or later i read in this forum mid 5 figures , still is better standard emi than others(i use with caution)
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all my funds are from stripe.com or similar. What kind of documents should I sent to EMI when they ask about source of funds?

 

[JohnSeed]

moneyrequired said:
all my funds are from stripe.com or similar. What kind of documents should I sent to EMI when they ask about source of funds?
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You want to send them invoices and what else that can show proof that you have received the money from your customers 🙂

 

[GC12]

I guess the question is what you do when you don't have the required documents / or one doesn't want to share.

 

[speedster]

GC12 said:
I guess the question is what you do when you don't have the required documents / or one doesn't want to share.
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You don't open a bank / emi account.

 

[Martin Everson]

Thats pretty much it. You have to follow their terms and conditions. If your not comfortable sharing information then leave that service alone.

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

 

[extremedox101]

moneyrequired said:
all my funds are from stripe.com or similar. What kind of documents should I sent to EMI when they ask about source of funds?
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not my business type ,i don't work with payment processors but i guess invoices.

GC12 said:
For transfer wise, mid five figure per transfer / top up or per year?
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gross/all time .

 

[here2learn]

speedster said:
You don't open a bank / emi account.
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Darks???

 

[sonato]

here2learn said:
Darks???
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darks will always work if you get high quality real darks.

From Revolut and Transferwise I would always choose Transferwise.

 

[GlobalConsult]

That depends on the customer, the amount, the origin, etc.

What many still haven't understood, banks and EMI have to follow certain AML rules!

 

[ShillGates]

Revolut got accounts closed, transferwise got accounts closed, monese - doing well they dont ask, i dont tell.

revolut, transferwise and all other emi's with a backdoor in lithuania are sharing info freely through their central bank, do not forget that, as we did not have problems with these 2, we had problems (unfounded) with another. But a bit too much if a coincidence that the other accounts got affected without warning