EMI like transferwise/revolut for EU company
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What exactly do you need from the EMI? I mean, what solutions/services does it have to provide?
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If you do a Google search on this forum you may be able to find a lot of threads about TransferWise and Revolut as well as other EMI's.
Here is an example on how to search :
https://www.google.com/search?sourc...hUKEwiZu7zi8ZPnAhVNiIsKHRfKCD8Q4dUDCAY&uact=5
and here for Transferwise:
https://www.google.com/search?ei=go...hUKEwiwip7n8ZPnAhVtwIsKHQhfBoIQ4dUDCAs&uact=5
More then 1500 hits on Google 😉
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Here is an example on how to search :
https://www.google.com/search?sourc...hUKEwiZu7zi8ZPnAhVNiIsKHRfKCD8Q4dUDCAY&uact=5
and here for Transferwise:
https://www.google.com/search?ei=go...hUKEwiwip7n8ZPnAhVtwIsKHQhfBoIQ4dUDCAs&uact=5
More then 1500 hits on Google 😉
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I use both of them and I do not think it is one answer to this question. It depends on what is the most important features to you. Personally, I prefer Transferwise for business and Revolut as a person. But again, it is probably mostly about what services I actually need.
Business wise I need accounts in EUR, USD, GBP, and a couple of other currencies to receive payments as well as paying suppliers. For me Transferwise does this perfectly and in a very transparent way when it comes to fees. Often it is also extremly fast. A payment from Transferwise to another EUR account in Spain, Germany or other Euro countries often takes seconds instead of hours.
To accept crypto payments I used to use Wirex, but then they closed down the option of outgoing SEPA payments. I have thought about using AdvCash, but so far I have managed with Bitpanda exchange and a SEPA account in Germany. Never try to send payments from a crypto exchange directly to Transferwise.
Revolut is better for me as a person as they have perks and services that are useful. I have a paid plan wich I think gives me good value for money.
This is interesting. Are you able to elaborate at all on what happens if you do?
The only reason I ask is that Transferwise mentions on its website that while you can't send to cryptoplatforms from your Transferwise account, it is ok for you to receive from cryptoplatforms into your Transferwise account:
"We can't support transfers to Bitcoin or any other cryptocurrency, directly or indirectly, through our services. But you can send money to your balances with bank details from a platform that deals with Bitcoin or another cryptocurrency."
Have you found it to be different in practice? If so, are there any intermediaries that you would recommend?
it is a matter of time before you can send and receive crypto with Transferwise. Most EMI's are able to do this soon. If you struggle to find one, use AdvCash.
I know that they seem to allow to receive from crypto platforms, and it might be that this also works well. The feedback I have received from multiple clients that are using/have been using Transferwise is that they have been shut down due to receiving funds from crypto exchanges, so it is a bit unclear what to belive. It might be that there are other reasons why clients have been shut down, but it might also be that TW is fine with a litte bit of money coming in from exchanges, but as soon as it starts to get serious they do not want any part of it.
Personally, I would not use TW for receiving funds from exchanges. But, the main reason for that is that TW works very well and I do not want to jepordize that relationship.
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