EU IBAN for FZCO in ecommerce

[winjamin]

We just got our account with 3S suspended, as they didn't think our type of business was worth the risk I assume. We operate an ecommerce business from dubai, selling to EU countries, which requires us to offer bank transfers as a payment solution. As our customers are facing fees and what not when trying to transfer directly to us in Dubai, we are looking for a solution where we can obtain an IBAN account within EU.
We have around 1000 transfers of 200€ per month.

Any suggestions to whom we might replace 3S with?

 

[FreedomSearcher]

Why not just set up a US LLC subsidiary? And then get a Mercury bank account there?

 

[Martin Everson]

winjamin said:
Any suggestions to whom we might replace 3S with?
Click to expand...

Have a word with BVNK or maybe SatchelPay in worst case.

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[Clank]

Currenxie

 

[TheCryptoAnt]

winjamin said:
We just got our account with 3S suspended, as they didn't think our type of business was worth the risk I assume. We operate an ecommerce business from dubai, selling to EU countries, which requires us to offer bank transfers as a payment solution. As our customers are facing fees and what not when trying to transfer directly to us in Dubai, we are looking for a solution where we can obtain an IBAN account within EU.
We have around 1000 transfers of 200€ per month.

Any suggestions to whom we might replace 3S with?
Click to expand...

Try Payset

FreedomSearcher said:
Why not just set up a US LLC subsidiary? And then get a Mercury bank account there?
Click to expand...

Because he needs SEPA

 

[uranium]

AFAIK Uae is banned from EURO for banking
Only usd works for dubai
Why don't you accept credit card payments via stripe

 

[Clearsky Network]

winjamin said:
We just got our account with 3S suspended, as they didn't think our type of business was worth the risk I assume. We operate an ecommerce business from dubai, selling to EU countries, which requires us to offer bank transfers as a payment solution. As our customers are facing fees and what not when trying to transfer directly to us in Dubai, we are looking for a solution where we can obtain an IBAN account within EU.
We have around 1000 transfers of 200€ per month.

Any suggestions to whom we might replace 3S with?
Click to expand...

Do individuals transfer the 200€ or companies?

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TG: @ClearskyPayments
Join our payments channel https://t.me/PaymentSolutionsClearsky
Payment and Financial Licenses: https://t.me/FinLicense

 

[winjamin]

FreedomSearcher said:
Why not just set up a US LLC subsidiary? And then get a Mercury bank account there?
Click to expand...

I'm not familiar with Mercury, but if they don't provide a bank account with an EU location for SEPA-transfers, it is of very little use to us.

Martin Everson said:
Have a word with BVNK or maybe SatchelPay in worst case.
Click to expand...

Thanks, I will contact BVNK first.

Jbb1 said:
Currenxie
Click to expand...

I will take a look at Currenxie as well, thanks.

TheCryptoAnt said:
Try Payset



Because he needs SEPA
Click to expand...

Will do, thank you!

uranium said:
AFAIK Uae is banned from EURO for banking
Only usd works for dubai
Why don't you accept credit card payments via stripe
Click to expand...

We sell nicotine pouches, which I highly doubt Stripe will approve of.

Clearsky Network said:
Do individuals transfer the 200€ or companies?
Click to expand...

Strictly individuals.

 

[uranium]

winjamin said:
I'm not familiar with Mercury, but if they don't provide a bank account with an EU location for SEPA-transfers, it is of very little use to us.



Thanks, I will contact BVNK first.



I will take a look at Currenxie as well, thanks.



Will do, thank you!



We sell nicotine pouches, which I highly doubt Stripe will approve of.



Strictly individuals.
Click to expand...

I heard of it nicotine pouches are trending in Sweden
You are probably doing drop shipping. What ever bank you find, be clear with them from beginning about what you are selling
I think those high risk credit card processors can accept your business

 

[wasted]

i'm on the same page - looking for EUR virtual IBAN account. registered for currenxie but they offer eurozone-based account only for amazon sellers, otherwise you can get UK (local payments only) or HK based (swift) EUR account.
also tried with currencyfair but they offer a shared account DE-based, no virtual IBAN.
still looking

 

[Clank]

wasted said:
i'm on the same page - looking for EUR virtual IBAN account. registered for currenxie but they offer eurozone-based account only for amazon sellers, otherwise you can get UK (local payments only) or HK based (swift) EUR account.
also tried with currencyfair but they offer a shared account DE-based, no virtual IBAN.
still looking
Click to expand...

You can get a UK SEPA enabled EUR account, it has the same functionality as any EU EUR account.

 

[Clearsky Network]

winjamin said:
I'm not familiar with Mercury, but if they don't provide a bank account with an EU location for SEPA-transfers, it is of very little use to us.



Thanks, I will contact BVNK first.



I will take a look at Currenxie as well, thanks.



Will do, thank you!



We sell nicotine pouches, which I highly doubt Stripe will approve of.



Strictly individuals.
Click to expand...

No wonder account is suspended. EMIs do not like C2B transactions unless its a licensed entity

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TG: @ClearskyPayments
Join our payments channel https://t.me/PaymentSolutionsClearsky
Payment and Financial Licenses: https://t.me/FinLicense