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IBAN for Estonian company

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twee

twee

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Aug 16, 2019
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Hi guys,


I need account with IBAN for my estonian company. I'm searching for solution.


Can anybody explain me about international transfers for accounts opened in EMI (for example ePayments, Paxum, Paysera, Revolut, etc)?
Can I receive/send payments from/to US for example or it works only for Europe?
Representavies of EMIs tell me absolutely different things about international payments.


Please help me

Thank you!
 
Hi, of course
But the‍ main problem is that I don't have full information from EMI about international payments for⁠ IBAN they provide.
Everybody says different about it
 
Are you EU resident? If you are, there are several banks which you wont have‌ any trouble to open if your business snd structure are ordinary
 
If you have an Estonian company in low/med risk business, you do not need to‌ use s*** EMIs. Go to LHV bank.
 
Whats wrong with using Transferwise? Even LHV use Transferwise to make international payments.

However payments‌ from/to US is always going to be a problem wherever you go.
 
I opened estonian company to start operating from EU, however both LHV and transferwise rejected‌ .. just waste of money
 
Thank you for answers

I'm not EU resident and my business is IT/Media, so thats‌ why I have a lot of rejects from banks and spent a lot of money.‍ And now I want to use EMI for send/receive money and I need international payment⁠ solution.
 
Nice country thu&¤# Very odd decision they took. Hummm maybe‌ they have a blanket ban on Africa other than South Africa which is quite common.‍
 
I know, it was quite disappointing, it seems to be that these banks have been‌ burnt under estonian e-residency and e-business programs, and have been declining most of the bank‍ account opening unless you can show some real connection with estonia which is in contrary⁠ to e-residency and e-business model.
 
EMIs are a two-tiered compliance beasts. TW Borderless Account is especially bad⁠ due to their global reach.

It's literally a chain of light bulbs where failure of⁤ one will fail the entire system.

1. The EMI, TW will monitor your payments and⁣ block the account if an AML alert is triggered.
2. TW has under-pinning payments infrastructure⁢ banks that also monitor payments and block the payments if an AML alert is triggered.︀ If this happens, you must resolve each incident yourself by providing documentation. TW does not︁ help with this. Meanwhile, your entire TW account remains blocked, including balances in other currencies.︂ One more source opinion, more account freeze risk.
3. TW has more than 1 under-pinning︃ bank. If let's say the provider of CAD or AUD infrastructure you never used decides︄ that companies or individuals from specific jurisdictions should be scrutinized a little more, or booted︅ altogether, you have your relationship at risk. Paranoia from an effectively un-related party imposes relationship︆ risk and for this reason alone TW Borderless Account is unfit for any serious business.︇
4. TW also has a tightening "Acceptable Use Policy" which in substance means you must︈ use their FX service as frequently as possible and make them money. If you do︉ not do so, they will find a reason to boot you even if there's no︊ real ML risk. We have seen more than one case of a low/med risk EU︋ business getting booted by TW. We can't assume all users are telling the truth, but︌ there are too many cases on this forum and elsewhere for this to be a︍ coincidence.

TW Borderless Account sucks, but for occasional cross-border payments, it's okay to use them.︎
 
Hi, can you clarify please, what's‌ wrong with paysera?

Thank you in advance
 
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