Feedback on wittix.com

[yngmind]

Any feedback on wittix.com EMI.
It's like Wise they offer personal and business accounts.

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Business Bank Account for your US LLC Remotely

 

[EliasIT]

Thanks for pointing in the direction of this EMI, I will try to apply for‌ an account with them.

 

[DerAufklaerer]

Wittix is licensed and regulated by the Supervision Service Department of the Central Bank of‌ Lithuania and is granted Electronic Money Institution (EMI) licence No. 48, with a payment system‍ participant code No. 33000, and conducts business under the laws of the Republic of Lithuania.⁠

So i thnk it will reported likely ZEN

 

[yngmind]

Please check their AUP before applying -

https://wittix.com/acceptable-use-policy

Lots of countries are not accepted, including‌ the UAE.

I have read some reviews on their Trustpilot page regarding the corporate account,‍ and it's not nice.

 

[EliasIT]

really you consider Trustpilot to be trustworthy when‍ it comes to services like this ?

 

[yngmind]

Seems like a legit review, though.

So, to get the‍ corporate account, you need to pay a fee for the account opening and provide a⁠ lot of documents.

 

[Forester]

For sure;⁤ and what's the problem?
(Be advised that you will be reported sooner or later by⁣ any institution from some AEOI/CRS country.)

Well, the validity and reliability of Trustpilot reviews︁ is really close to zero in many cases. Keep in mind that these reviews are︂ (mostly/very frequently) made by biased people who, in addition, lack the knowledge at the field︃ of financial services.

It's not exceptional with LT EMIs.
Yet in general, as of the latest actions of︆ the LT regulator, it is better to look elsewhere, I am afraid.

 

[EliasIT]

Well said, trust pilot in the financial industry is most often worthless.

 

[EliasIT]

Reporting is‌ not the problem for my current business, to find reliable EMI's is the problem.

 

[yngmind]

Did you open an account with them?

 

[Lincoln Burrows]

They're very expensive even for first-tier personal/business accounts, which are supposedly low-risk; they charge "€5‌ + 0.15%" for every sent/received transaction. Both a static fee and a percentage is criminal!‍

They also don't support SEPA Instant like most of the crappy EU banks/EMIs, so if⁠ someone sent you a payment Friday night, you'll get it Monday morning (hopefully).

 

[JohnnyDoe]

Crypto friendly?

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[Lincoln Burrows]

No.

 

[JohnnyDoe]

Lincoln Burrows said:
No.
Click to expand...

This means that you can't run a crypto exchange business or an ico through them, not that they are against crypto.

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[Lincoln Burrows]

any sort of business‍ or activity that relates to the following*:

 

[JohnnyDoe]

Lincoln Burrows said:
any sort of business or activity that relates to the following*:
Click to expand...

I don't run an crypto exchange or launch icos. I want to know if I can process through wittix fiat that originates from legitimate crypto transactions and come from regulated exchanges or the other way around.

Last edited: Nov 18, 2024
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[Lincoln Burrows]

[No content provided]

 

[JohnnyDoe]

Lincoln Burrows said:
View attachment 8234
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Thank you. Therefore, they suck.

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[cryptotree]

I have tried to send crypto there from an exchange and they didn’t allow it‌ (about 1.5 years ago)

 

[Jeanvaljean]

Yes they really suck !!! I’ve opened with them, as soon as the first wire‌ landed , my account under review asking thousands of irrelevant questions