Can we discuss payset.io ?

[vehzag]

I sent it from︀ Payset to Payset so it seemed more clear for them first of all
I have︁ provided all the documents
I have everything they need and gave them everything they ask︂ for
I am very serious regarding my business and regarding everything to be legal from︃ my side
I work with good lawyers
So I did everything perfect

I prefer to︄ think before doing anything
I even shared contracts with clients with them before money comes︅ to them so they could check and accept
And the accepted

And I withdraw my personal money from kraken to their account
And have no︌ problems with personal account
And no they did not even ask about a loan agreement︍ I think because they see inside Payset that ceo transfers small amount of money to︎ his company’s account inside Payset ecosystem
So be careful if you hold money only in️ Payset
And be ready that they will collect onboarding and 1st month fee and then‌ terminate your contract with them

 

[KDX]

This is not "more clear for them" it's‍ a sign of fraud
Any money coming⁤ from Kraken (crypto) going to a business EMI account is a HUGE RED FLAG for⁣ their compliance teams, be it through another personal account or not (makes it seem even⁢ more sketchy for them, money laundering?)
Most likely︂ they saw a suspicious transaction (personal -> business) or that a crypto exchange (Kraken) was︃ involved and automatically flagged the transactions, and when they saw that you were withdrawing from︄ Kraken to deposit to your business account they decided they didn't want anything to do︅ with you.

Crypto = instant account closure, anybody here knows that

You should've browsed around︆ OCT more before opening an account there..

 

[Sols]

Absolutely not. 0.45% for SEPA tells you exactly who their clientele is,‍ and it's not low to medium risk merchants.

I don't believe you.

 

[vehzag]

I am not sure you are right
They use same︁ bank that kraken use and their compliance told me that they are totally okay with︂ withdrawing funds in EUR from such reputable exchange like kraken
All of their customers do︃ that
I talked with management and compliance about this
If you have everything legally done︄ why not?
Not sure that you are familiar with their work. Just speak with them︅ and ask this question like I did

 

[AdH]

We opened 4 business accounts, for 4 different clients (different business) and 1 personal account,‌ and all full 5 accounts were closed after several weeks after payment of opening fee‍ !!!

No reasons !!!

 

[vehzag]

Thats what I am talking about.⁠ Better stay away maybe

 

[KDX]

Not saying it's a good service, but withdrawing⁣ from an exchange to an EMI business account almost always is trouble in terms of⁢ compliance.

If you haven't seen, when people have withdrawn from exchanges here they have demanded︀ all sorts of documents for crypto trades/swaps in order to prove SoF etc.

Did their︁ "management and compliance" really approve that you withdraw from Kraken to your business account as︂ a "loan agreement"..? If I was them, I'd rather close down the account as well︃ than get fined by the EU or whatever if s**t hits the fan.

You should︄ learn how to play the compliance game. You should've never let Kraken touch their system︅ at all, you should've withdrawn it to your personal bank account and then deposited from︆ there with nice a little PDF invoice which would make the compliance team happy. Also︇ no-no to any VPNs.

The goal is to make it so that you look as︈ innocent as the lady running their flower delivery small business at least for a while.︉

Just trying to help, regulation sucks

 

[TheCryptoAnt]

hey just for you and others to know, Payset is cool with crypto so far you‌ make it easy for them to understand your flow.

I have an account with them‍ with an 'exotic jurisdiction' company, entirely crypto related (crypto trading own and clients funds) and⁠ ive had 0 issues with them. Their compliance team is surprisingly easy to work with.⁤

 

[vehzag]

As a loan I used my personal iban in payset to︅ do the transfer in euro
Regarding crypto exchanges they have confirmed that they are okay︆ with kraken and most of their clients work that way. They have confirmed it via︇ email before the onboarding
Plus I have all the papers . And in company’s papers︈ there are info about what I am doing with crypto
My business is completely legal︉ and clear
I pay all the taxes

 

[ayousupply]

My Wise Business account got closed 400,000 in it. In need of a new business‌ EMI just registered with payset. When I asked for advise on my thread, several people‍ recommended payset, after reading this though I am afraid they will terminate or freeze my⁠ account.

I got approved for 3S Money but reviews on trustpilot are horrible as well⁤ (not overall low stars but still bad)

So I am looking for more EMI
Xace anybody tried?

 

[vehzag]

What can I say regarding payset
If they⁢ will block you they won’t freeze money
You gust have to have several accounts in︀ different EMIs so if the Payset blocks you had an account to withdraw your money︁
Maybe try ZEN and Blackcatcard

 

[EUman]

Does PAYSET offer USD local ACH routing/accounting number with PERSONAL Account ?⁤
I want to open a personal account, cause I am receiving payments in USD from⁣ US.
Thanks

 

[vehzag]

I still have personal account with them
Don’t remember about USD‍

 

[EUman]

Can you please just login and check for USD details? Thanks

 

[vehzag]

When I am logged in I only can see details of the account I‍ already have. I have EUR account
But I am sure it is possible to have⁠ GBP as well and maybe USD

 

[Clearsky Network]

They have USD accounts, but you need to ask for it. They have several‍ banking partners, some can issue USD accounts and some cant. Therefore, you need to request⁠ during the onboarding which accounts you want to hold.

 

[MichelRippon989]

I do not recommend using payset.io due to the account opening fee, monthly fee, and‌ transaction fees. The service does not provide value for money.

 

[EUman]

Who else can provide personal local USD accounts with Routing and Account numbers in US⁠ bank?

 

[MichelRippon989]

airwallex, wise, Mercury, silverbird

 

[Clank]

Wise no longer offers USD.