EMI for high-med risk industries that accept us llc - non resident

[extremedox101]

hi

i'm in process to choose between opening personal account on local bank to receive payments from high risk industry or setup account with standard emi that accept foreign owned us llc .

i don't know which option is more risky on long term if either institutions look up the name of my payer company and decided to end business with me . i bet it easier for emi to block my money but the bank may just close my account and let me withdraw in worst scenario because i would have access to branch in my country . the bank compliance also is less likely to connect the dots due to ignorance and taking things in formal way .that opposite to some emi's which constantly trying to prove they are smarter than their customers .

the reason i see some advantages with us emi is that i can cut monthly costs of international wire transfers over 100 euro to my bank and use ACH instead attached with debit card to cash out .


i would rather apply for high risk emi but doesn't appear to be available on my personal research and other references on oct .

Last edited: Jun 28, 2021

 

[Fred]

hi @extremedox101 ,

for now you have only Mercury, Novel and Wise available for non-resident‌ US LLC - they are much more monitored then a local real physical bank.

The aboth EMI/Banks are not really high risk - it's worth a try at least as‍ all of them verify you in a certain matter of time - in case you⁠ already have incorporated the US LLC.

 

[extremedox101]

thanks fred

yeah i⁣ did read about mercury but some reviews said they are tricky with onboarding . i⁢ have wise personal account but i want keep things clear with them .

can you︀ place a link of novel website . also if you know bentoforbusiness could you share︁ your opinion ?

thanks again.

 

[Fred]

Sure.

https://www.trynovel.com/
They are pretty much the same like Mercury but they use other Correspondence‌ Bank then Mercury so the user experience could differ. Wise is most likely the highest‍ monitored of all of them. You can check Revolut US as well they have again⁠ another Correspondence Bank but not sure if they work for non-resident US LLC.

Bentoforbusiness never⁤ heard - sorry.

 

[extremedox101]

thanks for the link .

it's looks⁣ new and the faq not yet populated with full information but i may e-mail them⁢ to ask which type of industries they accept .

what other ways to spend funds︀ alongside the virtual cards ? revould support seems impotent as far as i know .︁

i will add novel as second option if i decided to go with emi .︂

thanks mate

 

[fredouille1973]

it is not corresponding bank, they are⁣ using the same credit union behind Mercury and another one, swift services are impossible, they⁢ don't like non US transactions

 

[Fred]

Well Novel is using Blue Ridge Bank, Mercury is using Evolve Bank &‍ Trust and Revolut is using Metropolitan Bank.

However they have only decdated accounts for local⁠ ACH and Fedwire transfers to receive SWIFT they are using shared/pooled accounts - at least⁤ Mercury.

 

[fredouille1973]

Relay is using also Evolve Bank & trust... which is shity..

will try novel

 

[extremedox101]

i tried to reach novel via chat it's been a week no follow up e-mail‌ .

the domain is 4 months old .
Updated Date: 2021-03-03T00:00:44Z
Creation Date: 2021-03-03T00:00:41Z

i have emailed relay at the begging of year they don't support my industry . they‍ do look deep for your industry/source of transfer?

 

[JohnLocke]

Did you⁤ do any progress with this bank. Stumbled over them today searching for a particular topic.⁣

 

[extremedox101]

no i didn't