Online banking, dating website

[Mattias85]

Hello all.
Im new to this forum, got recomended to go here from a friend glad to be here.

So i have abit of a problem, im looking for a good online bank that accept Online dating not adult just normal dating websites and reveice money from there and then send for my freelancers that works for me.
Im working towards Swedish customers.
And on top of this if someone also would know any good payment provider that dont take to high rates but still is well known and good.


So i would like some help if anyone have the information about this it would be greatly appriciated.

 

[Forester]

Welcome here 🙂
OK. As you are new 😉, be advised that more information is necessary to give⁢ you some reasonably-founded advice.
Particularly (I presume that the dating website is run by some︀ company; if by some individual, modification is straigthforward):
- where is the company incorporated?
- citizenship and residence of UBO(s) and directors,
- what currencies you need to operate with︁ (very probably SEK, as you serve SE customers, but what else?)
- what are the︂ destinations of future outgoing and incoming payments
- what is the expected monthly and yearly︃ turnover (summarized for all the currencies)
(Sorry for being so inquisitive but you will hear︄ these questions from any bank/EMI nowadays 🙁. And all of this matters.)
The information asked above will be useful also here. And in addition, please share what payment︆ instruments you need to accept (I presume cards – which ones?, what else?)

 

[Mattias85]

Thanks for the reply. Sorry yeah im not really up top speed whats needed, and‌ quite new with all this about companies overall and trying to learn.
- Yes its‍ run by a company and its from Cyprus.
- The citizenship is from Sweden, but⁠ lives in Thailand of the UBO.
- Using only Euro even thought its Swedish customers.⁤
- Will be sepa transfers, right now we are using Bitsafe/Yoursafe for all the freelancers.⁣ And everything is done in Euro, for both incoming and outgoing payments.
- The monthy⁢ turnover will be around 100k euro and the yearly around 1.2m euro.

Hope this answers︀ everything you needed. 🙂

 

[Au999]

I've never had any issue with regular vanilla banking for non-adult online dating business or‌ at least no problem up until I got out of the biz a couple years‍ ago. Unless things have changed massively can't see it being a big problem at any⁠ choice of mainstream or online bank (and in truth I actually had a couple more⁤ spicy dating sites too - nsfw but not adult)

 

[Forester]

Unfortunately, things have substantially changed in the last few years. 🙁
And for this particular case –⁣ a Cypriot company, the dating business for Swedish customers (i.e. a typical offshore), a Swedish⁢ UBO living in Thailand => a high-risk / the red flag for all mainstream banks,︀ both Cypriot and offshore; and troubles with EMIs. I don't say it's impossible but definitely︁ not easy-breezy.
🙂 No problem. You are welcome...
Yes, the answers are complete 🙂 (The director of the company︉ is Cypriot, as usually – I presume; correct?)

Nevertheless, one more question appears: You say︊ that you are using Bitsafe/Yoursafe until now. What's wrong with them and should be different︋ with a new provider? What is the reason for change? (I can generate some speculations︌ but it's always better to ask. And I am not advocating for Yoursafe, I'm just︍ asking.)

 

[Mattias85]

Ok awsome. Yes thats correct! 🙂

Yeah with them i had some problems since i wasnt really doing everything by the book︃ so i messed up basicly with my private account there and that went out on︄ the company account (The company account is not in my name, but since the private︅ account was closed they now looking into the company acc aswell that sent money for︆ my private account.) Might be fixed still since the company sent them all papers and︇ such. But anyways i have a new company ready and wanna start from scratch and︈ do everything by the book. And with this past with yoursafe i really dont want/can︉ start over with them with that bagage if you get what i mean.

Thanks for the️ reply!
Wich online banking did you use when you were active with this if i‌ may ask?

 

[Au999]

Just the Bank of Scotland‍ lol although their Forex was terrible for south Africa earnings

 

[Forester]

OK.
Your openness is really appreciated 🙂. And I think you took your⁢ lesson 😉
A wise decision.
Yes, I think I understand you︄ perfectly – and I share your opinion.

Well, some recommendations:

As I have already written,︅ your business can be, unfortunately, treated as high-risk. To what extent, it depends on how︆ successfully you will convince the EMI (or neobank) that your dating site is really innocent︇ 😉

Especially if you at least pretend that you need SEK payments (BTW, why not –︈ when you have SE customers???), you might be successfull with Intergiro (SE EMI, really good).︉ They have a waitlist for SMEs now (AFAIK) but with a 100k/month turnover you can︊ be eligible for an enterprise package where issues are fully negotiable. (I can help you︋ there if necessary.)
They are able to offer you the payment processing, too.

Another possibility︌ that comes to my mind is Verifo (LT EMI, high-risk friendly and open to tailor-made︍ solutions). You will probably not be eligible for the cheapest package there; but with a︎ 100k/month turnover it should not be a problem.
Again, they are also able to offer️ you the payment processing (AFAIK).

You can try Zen.com as well (again LT EMI, founded‌ and managed by a really clever Polish guy.) They are also offering SEK payments so‍ you could use it as an argument. They are probably not so rock stable as⁠ Intergiro, but seem OK. They offer payment processing for really good prices.

And generally, it⁤ is recommendable to have at least two accounts, for backup purposes.

 

[bonox]

You will find people who had no troubles open an account for such business and‌ others who get decline one by one by the banks. It's all up to your‍ relationship wit the bank. If you know a banker and can explain your business to⁠ them, they will open the account.

That said, I would still be interested in learning⁤ about a online bank accepting such business just like that.

 

[Forester]

I agree, perhaps even⁤ at 100% 😉 . (I would not guess that someone will have really no troubles but⁣ it's a minor issue.)
Just adding that a good introducer can help well, too. (The⁢ core is that an introducer is willing to listen to you and finds a time︀ for it. And then, a bank clerk (or a monkey) is more open to listen︁ to the introducer than to you and the introducer knows well what the clerk /︂ the monkey wants to hear 🙂 )

 

[treasureinyou]

Or have multiple accounts for a "website advertising" business.