You don't understand how TW works. It bases on traditional banks in US, UK, EU...and use AI to verify users. So it makes some processes easier than traditional banks, also it has its own rules to block shady users. You asked what to choose open bank accounts? TW or Traditional, I said I opened both, even should be 2 traditional banks and 2 EMIs
If not Transferwise for UK LTD which one then?
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i agree . most of them are Lithuanian emi's and often pricey for non-resident + high risk .... or no other choice that rise many question mark???
so from this perspective how easy for them to throw away new emi's . i don't trust that easy come easy go .
You didn't say me anything, the other person did.
And once again: if the bank is shitty, than TW has to be at least as shitty as the bank because TW has to be constrained by KYC of the bank because TW uses and deals the bank. TW itself isn't a bank therefore it may not dictate the rules to the bank.
TW cooperate with traditional banks but those banks don't open for offshore companies (like Barclays UK). TW (like other EMIs) adds a layer of compliance/KYC using technology while traditional banks cannot do, there should be some deals between them to work together, traditional banks can only base on some signals like sudden big inflow of money etc. Therefore, TW can be good/bad in some cases, while to open accounts with traditional banks will follow traditional KYC and take even months to get in. TW has its own "bank" as well named Transferwise Europe SA (TRWIBEB1XXX)
What are you talking about - months to open an account in a bank? It takes a least half a year, but normally 2 years.
Traditional banks also have software, as software isn't what TW has access to inclusively.
Dear sir, I don't undertsand your indian english.
Traditional banks also have software, as software isn't what TW has access to inclusively.
Dear sir, I don't undertsand your indian english.
Estonia sounds good after all what I read about it, just setup costs annoy me a little.
What EMI can you open for an Estonian company, also that has to be reliable?
We are not yet there! They don't sit in the trees eating bananas.
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If money is your hope for independence you will never have it. The only real security that a man will have in this world is a reserve of knowledge, experience, and ability!
My personal favorite thread posted in the Mentor Group. Group of investment companies to avoid licensing.
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