RECEIVING OTHER THAN MAIN CURRENCY IN EMI ACCOUNT

[Suzy Emerald]

Hello,

I wondered if anyone knows of there is an EMI or similar service (with IBAN) around that accepts incoming payments in a currency that is not the main currency of your EMI account. E.g. If the currency set to my MisterTango account is EURO, I currently cannot receive payments in USD, SEK or other currencies.

 

[KJK]

Just check whethet the EMI supports SEPA payments only or SWIFT as well. Some such as Paysera only accept SEPA, some others support wire transfers without any restrictions.

 

[Suzy Emerald]

Hello, it is more about the fact that e.g. Transferwise doenst except incoming transfers in other currencies than the currency set as the main currency (eur). In that aspect all these EMIs are not really multi-currency. Just wonder if there are EMIs that do accept different curriencies inbound.

 

[KJK]

I have no problems adding both EUR, USD as well as PLN and other currencies to my Transferwise account (no conversion, direct deposit). Mistertango is for EUR only.

 

[Suzy Emerald]

Adding additional currencies to yout TW account are for converting your balance to these currencies. You cannot receive them.

 

[clemens]

okay, so only for Taiwan accounts it's an issue?

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[Suzy Emerald]

TW I mean TransferWise. You can only receive money in the currency of your account. I wonder of all EMI services are like that or that there are ones out there that let you receive currency B while your account is in currency A.

 

[clemens]

but what if you send USD from Transfer Wise to a normal bank account locally and that is EUR - you will receive EUR then.

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[Suzy Emerald]

correct, the bank will convert the USD to EUR. But my TW account is in Euro and customer wants to send me USD to my TW account. TW isnt multicurrency really so I wonder if there is an EMI out there that can receive different currencies than the one of my TW account.

 

[Nyep]

TW does support receiving in USD (except for US residents/citizens/entities).

 

[Suzy Emerald]

ok, but neither can I receive Japanese Yen or SEK in my TW Euro account . I understand that is the limitation of TW.