How long does it usually take to get verified with EMI?

[Butcher82]

Hello!

Anyone has a hint on how long it usually takes to get verified with the major EMIs like LeuPay, TransferWise, Paysera and Revolut?

I created the Business profiles there about a week ago and they are still under review, not asking any additional docs or anything. I wrote to their supports and they told me just to wait.

I'm guessing how long this all verification process takes. And maybe someone has some tips on how to get verified there more easily? I am going with UK LP company, e-commerce business 🙂

Thanks!

 

[Martin Everson]

A week is not really much time for a corporate account opening wait at least two weeks. There is no shortcuts in compliance I am afraid.

Not sure if e-commerce companies is their target client base either. They are not a merchant account service provider and there is no defined client base that comes with e-commernce. Unless you say customers come via apple or android store or a third-party merchant processor it would be high risk for Transferwise to accept wires directly from strangers.

Let us know how you get on. I am sure everything will be ok. It's just my personal thoughts.

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Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.

 

[Butcher82]

Thanks a lot for your thoughts, Martin. They write everywhere "get IBAN same day" and this is never true 🙂

I have an online billing provider and need to get the funds from the billing to this account. And chose EMI to the normal banks as I thought it works faster 🙂

I will be getting wires only from the billing, nobody else. Hope this is fine for them.

 

[Martin Everson]

Butcher82 said:
Thanks a lot for your thoughts, Martin. They write everywhere "get IBAN same day" and this is never true 🙂

I have an online billing provider and need to get the funds from the billing to this account. And chose EMI to the normal banks as I thought it works faster 🙂

I will be getting wires only from the billing, nobody else. Hope this is fine for them.
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Ok that's a tidy setup and how a EMI or bank would expect it to be done.

Keep us updated 🙂

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Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.

 

[GCE]

I have been delayed for more than 3 days by Paysera. In comparison LeuPay/myPOS proceed faster.

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[Butcher82]

GCE said:
I have been delayed for more than 3 days by Paysera. In comparison LeuPay/myPOS proceed faster.
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Thank you, will try myPOS too. thu&¤#

 

[Butcher82]

Got verified with myPOS within a few hours! That's quick! Are they reputable? Has anyone used them? 🙂

 

[lostguy]

Butcher82 said:
Got verified with myPOS within a few hours! That's quick! Are they reputable? Has anyone used them? 🙂
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with real docs? I will have to try them now!

 

[Butcher82]

lostguy said:
with real docs? I will have to try them now!
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Yes, real documents + video verification.

 

[Aleksandr Prilepa]

Took 10 minutes tops for a personal Revolut account. Corporate accounts are probably different yea.

 

[GCE]

Butcher82 said:
Got verified with myPOS within a few hours! That's quick! Are they reputable? Has anyone used them? 🙂
Click to expand...

Yes, i have been using them on everyday basis for around 2 years. Great service!

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Bulgarian Company Formation | Starting at 160 EUR | GCE

 

[Butcher82]

GCE said:
Yes, i have been using them on everyday basis for around 2 years. Great service!
Click to expand...

Thanks for the feedback, going to try them out. They look like the daughter company of LeuPay.
There's a message inside that they are changing IBANs since next week to the other bank or something. Do you have the same? 🙂
And are you receiving and sending wires without problems? Or they ask for supporting documents or anything?

 

[Grigorijs]

Butcher82 said:
Got verified with myPOS within a few hours! That's quick! Are they reputable? Has anyone used them? 🙂
Click to expand...

As I can see there can be opened only Business account not Personal.
I'm disappointed. Maybe am I wrong?

 

[lostguy]

Butcher82 said:
Thanks for the feedback, going to try them out. They look like the daughter company of LeuPay.
There's a message inside that they are changing IBANs since next week to the other bank or something. Do you have the same? 🙂
And are you receiving and sending wires without problems? Or they ask for supporting documents or anything?
Click to expand...

if that is the case and from what I read then it's a no go - or did you try them already ?

 

[Butcher82]

lostguy said:
if that is the case and from what I read then it's a no go - or did you try them already ?
Click to expand...

yes, they have only UK IBANs now.

 

[offshorewebhosting]

Payoneer an option?

 

[dunduk]

It took 4 working days to open a business account with TransferWise for my Scottish LP

 

[Spinat]

Took me less than 1 day to get verified with MT!

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