Is currenxie a Hong Kong based EMI?

[uplana]

As the title says, wonder if Currenxie is a Hong Kong based EMI / Neobank?

How reliable do you find them to be with a 100K euro deposit ?

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[troubled soul]

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[JohnLocke]

I have stumbled upon them a few times in my business, they seems to be‌ used by a few big players.

 

[uplana]

Got my account - multicurrency account.

Where do I put Bank Code and Branch Code‌ if I want to transfer money from my other account to this account for a‍ test?

My other account is with Wise.

 

[JackAlabama]

If it is⁠ a HK wire by Swift. Put it like this:

bank code - branch code -⁤ 9digit account#.

The people there are generally quite smart and hard working, so usually money⁣ finds its correct destination fast. (I banked there for many years)

But be careful; Afaik⁢ Currenxie does not allow self-funding (or maybe they changed it, but better check it?)

 

[Fred]

They do since 2021.

Guess you are‍ referring to the early days when they were basically a Payoneer clone.

The whole operation⁠ is run on Citibank in the backend - so as long as they keep good⁤ with Citibank - Currenxie is a decent option.

Always keep in your mind - issue⁣ with EMI's is the underlaying financial institution / bank.

They got basically LHV Bank shutdown⁢ over night for certain countries of incorporation same like every other EMI - due to︀ there good relationship to Citibank (can even imagine the whole thing is some kind of︁ Citibank Fintech Pilot project) they could replace instant with Citibank UK accounts.

 

[JackAlabama]

Good points. They changed in HK︁ as well, away from DBS to Citi.

Yah, I still had the early days in︂ mind, never bothered to re-check for updates. 😉

 

[uplana]

Thank you.‌

That is also what my customer must do ?

 

[JackAlabama]

Yes. This and enter the bank swift code or select Citi according to the‍ bank to send from.

 

[uplana]

okay final question.

With all this war in Ukraine and Russia an China being the‌ best friend of Russia. Would you still trust a Chinese EMI like Currenxie ?

 

[JackAlabama]

Id never hold significant cash in emis. Just for transactions and⁠ chunk change.
If you hold a western passport and the war drags china actively in,⁤ and they face sanctions, Id expect a sharp payback.
So Id either have a non-western⁣ passport ready or plan accordingly.

 

[Forester]

I have never had a problem and I'm trusting them for‍ such sums. Nevertheless, I would not start with such a transfer; better to begin with⁠ 4 figures...
I can confirm.

Are you sure? I was warned before self-deposits even in the beginning of 2022. (It︁ was possible but only in special cases.)
I agree completely.
Not a long time ago they were still using LHV︈ (that I consider to be rubbish) for SEPA transactions. Have it changed? (I do not︉ use Currenxie for SEPA so I do not know.)
I do. But having said︌ that, I must say that I fully agree with @JackAlabama' s statement below.

 

[uplana]

Thank you for all replies, it looks like I can work with them without troubles.‌ That was my main concern if they make lot's of troubles.