EMI with USD account for non-EU resident

[Offshr]

Hello,

I have a need to pay small amounts in USD (800-3000) to offshore banks to countries like St. Vincent, BVI etc.
Up to now I did it via Revolut and was completely happy. But since I left the EU lately my ID card has expired and Revolut limited my transactions, the account will be closed soon.
Which EMI can you suggest for me in this case for such payments?
My general concern is the fees amount.

I have an account with Wise, but for some reason they do not allow to make transfers to offshore jurisdictions.
I opened with Bankera but they provide only EUR account which is quite basic tbh.
I applied to Paysera account but they are reviewing my KYC for for over a week now, which itself sounds ridiculous.
Also opened with AdvCash but they do not provide such a service.

A bit of surprise for such a difficulty in the modern world given that I am applying for individual accounts.

 

[HoneyBoo]

Will you be paying with a Debit card or bank transfer ?

 

[Offshr]

menzu said:
Will you be paying with a Debit card or bank transfer ?
Click to expand...

With bank transfers.

 

[Forester]

Offshr said:
I have a need to pay small amounts in USD (800-3000) to offshore banks to countries like St. Vincent, BVI etc.
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Please, share a full list of destinations. Various Caribbean or another “offshore countries” can be treated differently by banks/EMIs. For example, Airwallex some time ago was OK with BVI and Grenada but not with St. Vincent and Grenadines.

Offshr said:
Up to now I did it via Revolut and was completely happy. But since I left the EU lately my ID card has expired and Revolut limited my transactions, the account will be closed soon.
Click to expand...

What is your current residence and nationality? It matters...

Offshr said:
Which EMI can you suggest for me in this case for such payments?
My general concern is the fees amount.
Click to expand...

Just as a general first shot, try to check Moneycorp. (As I do not know your full list of destinations, I can't say for sure.)

Offshr said:
I applied to Paysera account but they are reviewing my KYC for for over a week now, which itself sounds ridiculous.
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A week for KYC is completely common now, even much more. (I am not advocating for Paysera, just describing the common reality.)

Offshr said:
A bit of surprise for such a difficulty in the modern world given that I am applying for individual accounts.
Click to expand...

Just a remark, maybe surprisingly it might be easier to find a business account provider.

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I am just a simple countryman. Anything I say is only a personal opinion, not a certified advice 🙂

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[Offshr]

Forester said:
Please, share a full list of destinations. Various Caribbean or another “offshore countries” can be treated differently by banks/EMIs. For example, Airwallex some time ago was OK with BVI and Grenada but not with St. Vincent and Grenadines.
Click to expand...

Basically the more offshore centres acceptable the better. Right now I have an urgent need for BVI, St.Vincent, Hong Kong to make transfers.

Forester said:
What is your current residence and nationality? It matters...
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I cannot share this publicly, but it is autside the EU and it is not toxic like Russia, Iran, North Korea.

Forester said:
Just as a general first shot, try to check Moneycorp. (As I do not know your full list of destinations, I can't say for sure.)
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Great, thanks for advise!

Forester said:
A week for KYC is completely common now, even much more. (I am not advocating for Paysera, just describing the common reality.)

Just a remark, maybe surprisingly it might be easier to find a business account provider.
Click to expand...

Idk, for offshore jurisdictions I have a few options in Lithuania and Cyprus. Bot for normal multycurrency account with swift and SEPA they charge a lot. And they promise documents requests for every transactions, so idk tbh what to do with that.
The offshore banks are also expensive and non reliable.

 

[Forester]

Offshr said:
Basically the more offshore centres acceptable the better. Right now I have an urgent need for BVI, St.Vincent, Hong Kong to make transfers.
Click to expand...

Sorry for some silence, I was on a short holidays...

Well, Moneycorp should be OK with BVI, St.Vincent and Hong Kong as well, I hope.
Or you can try Nebeus ”“ that freshly introduced transfers functionality. Their list of supported countries is surprisingly long...

Offshr said:
I cannot share this publicly,
Click to expand...

Well, it is at your sole discretion (feel free to PM me, if necessary).

Offshr said:
but it is autside the EU and it is not toxic like Russia, Iran, North Korea.
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Be advised that the list of “high-risk countries” is usually much, much longer than the abovementioned, sometimes even surprising and it varies from one institution to another.

Offshr said:
Idk, for offshore jurisdictions I have a few options in Lithuania and Cyprus. Bot for normal multycurrency account with swift and SEPA they charge a lot.
Click to expand...

I do not fully understand what you mean; but yes, Lithuanian EMIs are usually not very cheap (exceptions occur).

Offshr said:
And they promise documents requests for every transactions, so idk tbh what to do with that.
Click to expand...

It is completely common nowadays; be prepared for it everywhere.

Offshr said:
The offshore banks are also expensive and non reliable.
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I do not understand what you mean by “offshore banks” ”“ generally, any bank outside the jurisdiction of your residence and/or activity is for you a offshore bank. If you mean the banks in jurisdictions like you named above (BVI, St.Vincent and Hong Kong), you can be right or wrong as well ”“ it depends on a particular bank (but generally, for example banks in HK are OK).

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I am just a simple countryman. Anything I say is only a personal opinion, not a certified advice 🙂

If you think it makes sense, you can like it; if opposite, please, tell me, why I am wrong...

 

[Offshr]

Forester said:
Sorry for some silence, I was on a short holidays...
Click to expand...

Thank you very much indeed! It is really helpful.

Forester said:
Well, Moneycorp should be OK with BVI, St.Vincent and Hong Kong as well, I hope.
Or you can try Nebeus ”“ that freshly introduced transfers functionality. Their list of supported countries is surprisingly long...
Click to expand...

Just opened an account with Nebeus, they do not provide wire transfers (eur only sepa) but rather only card withdrawal. Overall, quite a lousy copy of AdvCash
There was a funny story with proof of address, they did not accept my statement from Wise at first, than they accepted it, but the support replied that they cannot accept the document (effectively after they accept it).
So I would not recommend that thing.

I applied to Moneycorp bus still have not received any reply from them. Will be in touch with them.

what I really need is wire transfers in USD.

Forester said:
Well, it is at your sole discretion (feel free to PM me, if necessary).


Be advised that the list of “high-risk countries” is usually much, much longer than the abovementioned, sometimes even surprising and it varies from one institution to another.


I do not fully understand what you mean; but yes, Lithuanian EMIs are usually not very cheap (exceptions occur).
Click to expand...

Forester said:
It is completely common nowadays; be prepared for it everywhere.

I do not understand what you mean by “offshore banks” ”“ generally, any bank outside the jurisdiction of your residence and/or activity is for you a offshore bank. If you mean the banks in jurisdictions like you named above (BVI, St.Vincent and Hong Kong), you can be right or wrong as well ”“ it depends on a particular bank (but generally, for example banks in HK are OK).
Click to expand...

Thanks once again!

 

[Forester]

Offshr said:
Thank you very much indeed! It is really helpful.
Click to expand...

You are welcome.

Offshr said:
Just opened an account with Nebeus, they do not provide wire transfers (eur only sepa) but rather only card withdrawal.
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Apparently, it is under heavy development. I have even seen the fees for SWIFT transfers somewhere at their webpages ”“ and, simultaneously, I remember the announcement “debit cards coming soon”.

Offshr said:
Overall, quite a lousy copy of AdvCash
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🙂 Good point. Nevertheless, it seems to me that the Nebeus and AdvCash setups (and maybe business concepts) really differ.

Offshr said:
There was a funny story with proof of address, they did not accept my statement from Wise at first, than they accepted it, but the support replied that they cannot accept the document (effectively after they accept it).
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🙂 Well. It should not happen ... but it can happen (it is not the ugliest issue).

Offshr said:
So I would not recommend that thing.
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Well, I am neither promoting nor advocating for Nebeus, I have no personal experience with them; I only made some personal research after @JohnnyDoe pointed at them in another thread and at this moment (taking into account your experience) I would rather say: stay tuned.
(BTW, Modulr Payments that is backing them for fiat payments operation is the company that is backing also Revolut /or at least, was backing two years ago/, as I found. I do not like Revolut at all; but I must admit that their scale of payment operations is really huge, so being able to back them means something.)

Offshr said:
I applied to Moneycorp bus still have not received any reply from them. Will be in touch with them.
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Keep us posted. I wonder, how fast Moneycorp processes applications nowadays.

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I am just a simple countryman. Anything I say is only a personal opinion, not a certified advice 🙂

If you think it makes sense, you can like it; if opposite, please, tell me, why I am wrong...