Can I trust Wamo?

[totofox60]

I have a company in Estonia and Cyprus and I live in Qatar.
I trade within Europe and SEPA is very important to me. Wise and Revolut won't open accounts for me. I discovered Wamo and couldn't find any sources on this site. What is your opinion?

Thanks in advance.

 

[JohnLocke]

Okay, if you make one more post with this bank you have identify yourself as the owner of this service and will get banned! Let this be a friendly warning from a friendly Admin that is in good mood today. The weather is nice here, I enjoy business 😉

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[totofox60]

James Spader said:
Okay, if you make one more post with this bank you have identify yourself as the owner of this service and will get banned! Let this be a friendly warning from a friendly Admin that is in good mood today. The weather is nice here, I enjoy business 😉
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Hi James,
I did not understand what you said. I'm a new member because I couldn't find any information about it. I am writing for the first time. I do not understand.

 

[Forester]

I doubt that Wamo opens accounts to companies with non-(EEA / CH / Gibraltar) owners. But try to ask.
@James Spader: I must admit, I do not understand well, too 🙂 Do you think that @totofox60 's intention is just to promote wamo??

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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...

 

[Offshr]

Forester said:
I doubt that Wamo opens accounts to companies with non-(EEA / CH / Gibraltar) owners. But try to ask.
@James Spader: I must admit, I do not understand well, too 🙂 Do you think that @totofox60 's intention is just to promote wamo??
Click to expand...

I opened some accounts for Maltese companies with them. They open an account fairly quickly with minimum documents required. Only EEA beneficiaries are accepted.

The Internet banking is not bad, but they are still growing. They are quite new to the market. Can recommend as effective EMI solution but only for small amounts with which you are ready to risk in case everything went wrong.

 

[totofox60]

Offshr said:
I opened some accounts for Maltese companies with them. They open an account fairly quickly with minimum documents required. Only EEA beneficiaries are accepted.

The Internet banking is not bad, but they are still growing. They are quite new to the market. Can recommend as effective EMI solution but only for small amounts with which you are ready to risk in case everything went wrong.
Click to expand...

thank you for feedback.

 

[Buratino]

total bulls**t. 90% of payments raise compliance issues, often beyond the pale. Support is extremely incompetent. Payments for entry and exit are carried out manually very slowly. In any situation they do not understand, the account is frozen (??) and they carry out some kind of checks. I think this is some kind of micro-micro company and you should not even waste your time on them. I can only say that only the Multipass.io company is worse than them.

 

[SirGRA]

Hi!
My experience with Wamo, until now, (more than 2 years) has been positive!
I open a business account with Wamo more than two years ago, this after Wise decided to close all my accounts out of the blue (one was an account of a Cypriot company, but they close ALL my other accounts, including business and personal, FU Wise).
All went fine until last year when they had an issue with their service provider (UAB PAYRNET) that lost its bank license, unfortunately this affected many EMIs.
It took them around 30 days to move from the LT provider to a NL provider (Modulr Finance B.V) while communicating and try to explain what was happening. Not many EMIs would do that!
After this they resume their bank services and everything returned to normal.
Since then I have to say that I'm happy with their service.
I also fully understand that others may have other experiences and opinions.
Better would be using decentralised crypto only not relying on third parties, unfortunately that is not yet the world we live in.
Best regards

Last edited: Sep 29, 2024

 

[Forester]

SirGRA said:
All went fine until last year when they had an issue with their service provider (UAB PAYRNET) that lost its bank license, unfortunately this affected many EMIs.
It took them around 30 days to move from the LT provider to a NL provider (Modulr Finance B.V) while communicating and try to explain what was happening. Not many EMIs would do that!
Click to expand...

Yes, I share the opinion that the way how Wamo handled this problem (I witnessed it) was very pro-customer and, unfortunately, rather exceptional.

SirGRA said:
After this they resume their bank services and everything returned to normal.
Since then I have to say that I'm happy with their service.
Click to expand...

Nice to hear that.

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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...