Local AUD account providers?

[Settled]

Hello friends and like minded people!

Lately I have been searching like a mad man for EMI's that provide Local AUD accounts. Besides Airwallex and Currenxie I haven't found any! Are they even out there? Of course they must be, I just don't know where to look and I am tired of searching endlessly. Therefore I decided to ask here.
While Airwallex and Currenxie does offer this, they are not very happy about payments from individuals. Business transactions have been fine, even for six figures. But I need more providers offering local AUD accounts.

Volume is currently between 300-500K AUD a month and growing, with the same amount in FX as I convert everything into EUR and GBP.
Transaction size are between 10K and 150K.

So...does anyone know a provider or perhaps have a different solution? I have tried with solutions such as Stripe but they become a real pain in the ass when transactions hit a certain value.

I am based in the UK by the way.

Looking forward to get some help here. I'm no stranger to a finders fee for a good solution.

Thanks in advance and I am happy to be part of this great forum.

 

[JohnnyDoe]

What exactly do you mean by “local”?
You might try with ANZ in Port Vila, Vanuatu.

 

[Settled]

What exactly do you mean by “local”?
You might try with ANZ in Port Vila, Vanuatu.

Thanks for engaging Johhny!
With local I mean an account with BSB and account number to be able to receive local transfers through NPP, etc.

 

[JohnnyDoe]

Thanks for engaging Johhny!
With local I mean an account with BSB and account number to be able to receive local transfers through NPP, etc.

Wise 🤣 (don’t even try it)
I don’t know any EMIs other than those you mentioned.
These numbers justify a mission to Australia.

 

[Settled]

Wise 🤣 (don’t even try it)
I don’t know any EMIs other than those you mentioned.
These numbers justify a mission to Australia.

Lol, yeah I won't even bother with Wise.
Indeed they do, just have to convince my imaginary friend to go there, or perhaps find some friends down under.

I find it a bit odd there are so few options for local AUD accounts. Must be a reason why.

 

[JohnnyDoe]

I find it a bit odd there are so few options for local AUD accounts. Must be a reason why.

nobody cares about AUD apart from carry traders. It’s quite a joke of a country and economy, but their retardness can play in your favor if you know how to handle them.
I would avoid local friends, you can’t trust them.

 

[Filda]

Wise may be the friendliest for individual payments even though their enforcement is quite unpredictable.
Worldfirst, PingPong, Lianlian - almost any Chinese platform supports it
Sokin but you have to request it manually
There is also Payoneer but I am not a big fan of their services
You can also open with Moonova which is the underlying provider for some EMIs, but their minimums are higher

 

[Settled]

Wise may be the friendliest for individual payments even though their enforcement is quite unpredictable.
Worldfirst, PingPong, Lianlian - almost any Chinese platform supports it
Sokin but you have to request it manually
There is also Payoneer but I am not a big fan of their services
You can also open with Moonova which is the underlying provider for some EMIs, but their minimums are higher

Wise is a no go for me. Never had good experiences with them. They are decent for amounts below $1000 but for amounts over that the monkeys enters the chat.

WorldsFirst only allowed me to open an account for transfers coming from my own company, so I use it as a transit account only and as a backup if another EMI decides to pull the trigger on the account.
PingPong rejected two of my applications (for two different companies and UBO) without explanation. Same with Statrys and LianLian, however I will try these again with another UBO.

Sokin on-boarded me but the request for a local AUD account has been pending for two weeks now.

Payoneer I have setup but are afraid of using it, heard so many horror stories about them, plus they are expensive, 1% for incoming transfers, add FX to that and you're looking at another 0.5-1%.

Moonova (Who Currenxie and others use) never got back to me, a shame because I was really happy when I found them and they initially answered my email.

 

[Settled]

nobody cares about AUD apart from carry traders. It’s quite a joke of a country and economy, but their retardness can play in your favor if you know how to handle them.
I would avoid local friends, you can’t trust them.

Can hardly understand them as well. 🤣