Do you know PaySend a swiss neobank?

[burden]

As the title say, do you know Paysend ?
https://paysend.com/en-ch
They are Swiss based neobank. They can send international transfers for just 2 CHF - I don't know if that's only for personal use and no company use?

 

[JohnnyDoe]

burden said:
As the title say, do you know Paysend ?
https://paysend.com/en-ch
They are Swiss based neobank. They can send international transfers for just 2 CHF - I don't know if that's only for personal use and no company use?
Click to expand...

Paysend is a UK (Scotland) company. They offer pure money transfer and currency exchange services, like xe.com.
Depending on where you visit them from, they appear to be based in that country (typical marketing trick).
I never used them, but I have an account, so I will try. Thanks for reminding me that they exist 😀

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[Sols]

They are not Swiss. It's a UK EMI.

It's a little⁠ strange that their claimed UBO (PSC) to the UK Companies House shares surname with another⁤ person, who claims to be the company's founder. It does not seem like a stretch⁣ to imagine that the real UBO is the founder but they have presented the founder's⁢ spouse as UBO for some reason.

They occasionally run aggressive marketing campaigns. Their focus is︀ more on sending money than keeping a balance on an account.

 

[burden]

I see, it's not for me. Thank you for the input, much appreciated.

 

[icecold]

Bastards, they should clear advertise what they are and where they are from!

 

[lostguy]

Regular EMI bank, not useful for much

 

[DeutschSamoaner]

Applicable in October 2022: In regards to Paysend, for the limit of 1.000 EUR‌ per 6-month period, they don't require any documents. In order to increase it to 10.000‍ EUR limit per 6-month period, they require a personal ID document, that can also be⁠ from any applicable country in which they operate (around 170 jurisdictions).

If you manage⁤ to get a proof of address (other non-banking/Fintech institutions not accepted in a case of⁣ bank statement), your limit would be raised to 15.000 EUR in a 6-month period. It⁢ is a good trick to spend the 10.000 EUR limit first, and then apply for︀ the 15.000 EUR one. That way you would have a 25.000 EUR limit per maximum︁ one year, depending on the moment you decide to raise it to 15.000.

To order︂ Paysend card, you need to provide the proof of EU/EEA residence (EU/EEA ID card, EU/EEA︃ passport or EU/EEA residence permit). Any of these documents would also allow you to receive︄ money from other Paysend accounts and increase your one-off top-up limit.

I haven't tested larger︅ amounts, so it is preferable for someone more experienced to give their opinion on that.︆

 

[icecold]

It's a good solution for small amounts to be transferred without KYC! Not bad, wonder‌ how long such service will last.