Need to receive SEK wtihin EU

22kay

22kay

New Member
May 25, 2020
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Hi,
I have a corp in Sweden that needs to receive SEK wires. Currently this has worked out in EURO with Wise, but they do not offer to receive SEK and customer will not pay in EURO anymore.

I have been in contact with several banks in Sweden, but they all give me a hard time and different excuses to reject my request to open a bank account. I am almost certain it is because I am not a EU-resident.

All papers, registrations, etc, is in place and fully legit.

What would you suggest to use, to be able to receive SEK payments? The customer uses wires for the payments.
 
Marios said:
Marios said:
Would you consider a non-dedicated account with an EMI?
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I assume that is what what I have with Wise. An account that can hold SEK, but it is not possible to wire in SEK to that account unless it is marked with a reference.
Their EURO account cannot either receive SEK, it has to be EURO.

If that is what you mean, then in this case no, it will not work.
 
22kay said:
22kay said:
Thank you, sent a message to them to see if they would be able to receive SEK.

How "safe" is Bankera, considering some people have had trouble with them, as read in other threads?
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Very safe.

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You tried Revolut?

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JustAnotherNomad said:
JustAnotherNomad said:
How do you do that? I thought Revolut isn't available (yet) in the UAE?
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I got my card and account when I was visiting my EU citizenship country. I was told Revolut was going to launch UAE couple years ago, not sure what happened - perhaps couldn't get regulatory approval.

There is YAP in UAE though, quite new - don't think available to the general public yet.
 
Marc Rich said:
Marc Rich said:
I got my card and account when I was visiting my EU citizenship country. I was told Revolut was going to launch UAE couple years ago, not sure what happened - perhaps couldn't get regulatory approval.
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So you told them you are living in your home country in the EU? And it's just a personal account, not a company account?
"I want an account for my UAE company, but I can pick up the card while I'm visiting my family" obviously wouldn't work...
 
JustAnotherNomad said:
JustAnotherNomad said:
So you told them you are living in your home country in the EU? And it's just a personal account, not a company account?
"I want an account for my UAE company, but I can pick up the card while I'm visiting my family" obviously wouldn't work...
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It's just a personal account, thats why. Nothing related to my UAE businesses. Reason for the account was personal and it just happened that one time a client was based in Sweden and wanted to pay SEK so he just paid to my Revolut.

I also order some personal items from Sweden to the UAE and pay with revolut, but that is a different story I guess.

For OP however, being a non-EU resident, I am not sure if he can open a Revolut account.
 
Doesn't Revolut report under CRS now? Hope you are aware that your home country's authorities will probably be informed that you told Revolut that you live in your home country.
 
Correct, you need to be EU-citizen for an EU-company. On the other hand, you need to have a specific setup for a Swedish board of the corporation, so you still would have someone that is at least an EU-citizen to be on the board, and that person would be able to open the account with Revolut.
 
Hi, just wanted to confirm that it works perfectly to receive SEK using a Revolut business account (should be same for personal I assume, but you need to be an EU-citizen or resident, not sure).

Revolut is a little cumbersome to get things going (but very, very helpful, you will get all the help you need and fast responses). All in all, I feel they are a much better option than Wise, which do not offer receiving SEK.

Thank you all and especially to @Martin Everson that got me going for this option from the beginning.
 
22kay said:
22kay said:
Correct, you need to be EU-citizen for an EU-company. On the other hand, you need to have a specific setup for a Swedish board of the corporation, so you still would have someone that is at least an EU-citizen to be on the board, and that person would be able to open the account with Revolut.
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why would I want to open an account with Revolut if I can have something better and not reporting with Wise or Paysera for instant?
 
"if I can have something better and not reporting" - in my case I have no problems with the reporting, it's the other way around, the Swedish banks that have that problem...🙂
 
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