Em@ney PLC from Malta - any feedback?

[Infoseeker1979]

Hello,

do you guys know anything about Em@ney PLC from Malta? the only thing i know is that they are italian.
They have a linkedin presence but not other info I could find.
ANy experience would help
thanks

 

[JohnLocke]

May I ask why you spell the company name that way?

 

[Infoseeker1979]

sure, because the name of the company is spelled in that way too 🙂

 

[Martin Everson]

Yes emoney is a well‍ established lowkey company in Malta for the Malta gaming scene. They cater to gaming, crypto⁠ and high risk industry. Their pricing is not a rip off but not cheap either⁤ but they have a mobile app etc and have been around a while.

You can⁣ see what they need document wise below for account opening. However you need to contact⁢ them directly as they assess you right from the get go as to whether they︀ want to even bother with you 😉.

https://checklist.emworld.eu/CheckBusiness

 

[Infoseeker1979]

thanks a lot for the feedback - actually i have already⁢ been accepted i just need to pay the fee and i should be fine!

 

[lrotter]

They are reliable guys, not that big company but rather stable

 

[Oleksa75]

Hello, Mr. Infoseeker1979! Please, can You detail what are their fee's for application? Seems no⁠ information on site at all. Is it individual solution for each case separately? Thank You⁤ very much!

 

[Infoseeker1979]

thanks for the feedback 🙂

 

[Infoseeker1979]

Hello! sure, 200 EUR for the application fee⁠ + 500 EUR of annual fee that together have to be paid before receiving the⁤ credentials for the home banking - let's see

 

[JohnLocke]

You say it is 700 euro to get an account with this company, paid upfront?‌

 

[Infoseeker1979]

after the application has being accepted, in order to get‍ the credentials for the home banking is necessary to send original documents and one time⁠ fee + annual fee = 200+500 EUR

 

[jackfrost]

Btw if you are paying high fees you can also look at Agribank-AgriBank - Farm‌ Loan and Agricultural Financing solutions in the UK for Maltese real corp bank accounts.

Next to bnf one of the last real banks left to accept customers. Lombard has also‍ gone back to only allowing corporate accs that have local employees office etc so single⁠ person Ltds are not cutting it.

Depending on your industry hefty onboarding + yearly fees⁤ though. High risk / Gaming is around 2k onboarding + 2k yearly for example. Think⁣ they start off with something like 1k+1k or so.

PS: I dont use them and⁢ cannot vouch for them.

 

[Infoseeker1979]

for now we were looking for︀ "cost effective" alternatives but thanks for the info 🙂

 

[reesek]

its either you pay upfront fees to setup and then have reasonable to no operational‌ fees or you pay high operational fees all the way
depends how you see yourself‍ using the service, for several transits or a longterm relationship

 

[BlueMist]

Agribank doesn't have SEPA,⁤ so incoming transfers are charged at 0.1% (max €50) and outgoing 0.1% min. €10. It⁣ takes ages to open a corporate bank account with them, even for MT holding company...⁢

 

[reesek]

also they freeze funds from time to time giving it a hard time with sof‌

 

[Infoseeker1979]

agribank or Emoney?

 

[hgeree]

Hi all,

Any idea for cost effective corporate bank account opening in Malta for LTD‌ ( where no fidicuery, but the owner and CEO is non resident)?

Thank you

 

[jackfrost]

thanks good to know. as stated⁠ i personally do not use them. i just heard about them from two accountants refering⁤ clients there after lombard also stopped accepting new ones.

BNF has been mentioned everytime too⁣ although both times i was advised to simply go there myself and apply along with⁢ a personal account. They dont seem to do the introduction thing.

I have not applied︀ for any. I might try with BNF as backup depending on what kind of fees︁ they have. Non EMI banking is getting harder for MT companies that is for sure.︂ CIM also has a block on MT companies right now. They will only open if︃ the company is already aged, you are already a client personally with them for some︄ time and if they can argue the company profile in front of the compliance department.︅ Expect heavy KYC.

 

[BlueMist]

You are right that AgriBank is one of the few taking new Malta companies, I also︃ know that from two sources. The problem is they are very slow and don't have︄ SEPA. Perhaps not the best bank to deal with if you do a lot of︅ day to day transactions. I have pretty well aged company (almost 10 years) and BNF︆ for instance asked me to fill in a questionnaire but they never got back to︇ me. Lombard Bank has never replied to me on my enquiry sent their International Banking︈ Unit. MeDirect says they can open provided there is a local substance - office.

Banking in Malta has become extremely challenging.