Most reliable EMI for Hong Kong

[katalizator]

Hello,

What do you think is the most reliable EMI for HK company. I want to be able to send/receive SWIFT payments in USD. Business activity is online advertising. Transferwise doesn't work with with HK. Are there any other companies like TW?

 

[moneyrequired]

neat.hk, but I'm not sure if they match all your requirements

 

[katalizator]

emailed them. No answer yet.

 

[sudhiros]

N
NEAT is not at all a good option, i have an account with‌ NEAT and no can not really do free business with them, they have so many‍ restriction and the it is not online , you dont get a seperate account number,⁠ you have to share their account number with the main bank they bank with

I am also looking for an option to open an account in EU with some EMI⁤ institution , if some one can help of guide it will be great, at present⁣ the requirement is small so a personal account with ability to send/ receive 20-30K EUR⁢ is enough for me right now

Any advice is welcome

Thanks

 

[siulung]

I don't recommend neat.hk. They alway ask you to provide an invoice or PO‍ from your client for each transaction when you receive a incoming money. Also, their EMI⁠ account name comes with "NEAT XXXXXX" XXXX is your company name.

 

[For Free]

Currenxie is a good choice and reliable. They always check and approve your vendors prior‌ any transaction, but once the vendors are approved, you will be fine to send money‍

 

[uplana]

also for international transfers from HK to EUROPE ?⁠

 

[For Free]

Yes. 14 currencies in 1 HK account. The only weird thing is if you/customer want send‌ money there, you must put "Currenxie - Company Name". However they support to open Euro‍ account in European, USD account in US, GBP account in UK... Currency exchange only works⁠ in HongKong account

 

[uplana]

what does that mean, please‌ elaborate ?

 

[For Free]

When customers pay to you, they must put beneficiary name "Currenxie - Your company", otherwise‌ the fund will be returned. This may cause some problems if sending banks are strict‍ with the contracts

 

[startfleetio]

AirWallex is one of the best with a big presence in HK, very competitive rates‌ and good customer service. If you are interested, I can give you the link to‍ claim $12500 Free FX fees. Their banking partner in HK is DBS Singapore.

 

[LilChiChi]

Thanks for the information, just applying but trying both⁠ today - Out of curiosity, are these account that you can hold you money in⁤ safely for a short period (say 6-12 months)?

Also do you have any idea how⁣ long the application/KYC process takes with them Currenxie?

 

[For Free]

I use Currenxie to pay and receive normally⁤ and services are good. You can hold your money there, I don't see any problem.⁣
KYC process may take few days only. Prepare your documents properly and it will be⁢ done quickly. Beware to check the list of countries that you can pay by Currenxie︀ and they always approve your beneficiaries before you can transfer

 

[LilChiChi]

Great - Thanks for the help!⁣

 

[LilChiChi]

Just got the account set up⁣ and requesting the multicurrency account which should take a few days.

Out of curiosity, do⁢ you hold most of your money in those accounts or diversify across other banking providers︀ and/or EMI's?

 

[For Free]

Try to⁠ diversify if you can. Don't put all eggs in one basket. I feel safe with⁤ Currenxie so far, but I keep the account less than $100k

 

[uplana]

the few days are gone, how is it‍ going ?

 

[LilChiChi]

All gone well thanks, just got paid and went through very smoothly.
I've been able‍ to set up various multi-currency accounts - Just figuring out how to set up standing⁠ orders/direct debits to automate payments.