SEPA Bank + Card for Non-EEA Resident or Non-EEA Business

[Forester]

Well, this︊ is really strange and it does not smell well to me. Verifo was always really︋ open-minded.

It's really difficult to say, lacking︎ a more deep knowledge of your business and how it is running. Particularly Serbia should️ not be a problem by itself – I even witnessed, some time ago, Verifo having‌ accepted a Cuban subject, so no political prejudices, I guess. (Of course, times are changing‍ but...) Hence I guess that the problem could be either you (do not take it⁠ personally) or your business – this includes also a way how you present these... If⁤ you share some details, you might receive some recommendation. (As you might feel uncomfortable to⁣ do it at the publicly searchable forum, evt. feel free to enter a Mentor Group⁢ and describe it inside.)

 

[ilke]

Lithuanian EMIs are pretty scared now (to‍ speak in laic terms) and this is (unfortunately) no longer not unusual in my eyes.⁠

I encourage OP to explore some mid- or high-risk friendly EMIs in the UK; maybe⁤ something like Monetley, Paydo, maybe also Multipass or Payset. Though I do not have direct⁣ experience with the latter 2, all of these should not restrict Serbia.

 

[Forester]

Well, yes – you are right, I must say. (And I am not surprised,‍ when I see e.g. what LT regulator does in the last time.)
Anyway, my feeling⁠ is that the problem is is not only with EMI, in this case. I presume⁤ that here https://www.offshorecorptalk.com/th...ow-receiving-from-individual-customers.46275/ @vgahdmi123 talks about the same business. Re-read the first post 😉 But I⁣ am just speculating 🙂

Yes, in general UK should be better than LT, nowadays︂ – no doubts. I jusr admit I am not sufficiently oriented at this market (of︃ 300+ EMIs 😉 )
BTW – I conclude that you have a direct experience with Monetley:︄ could you elaborate more on that? I wonder mainly about reliability. (They offer just account,︅ not card, correct?)
Multipass and Payset (especially the former) represent fairly expensive solutions. Interpolitan Money︆ comes to my mind, too.

 

[vgahdmi123]

For those who ask what is business about, it is VPN Business, subscription model, I‌ have play store app with 1.5k+ users, they pay 1 month, 6 month or 12‍ month subscribtion.
Nothing too weird, there are many other VPN business.
I have all paperwork,⁠ business is paying taxes in my country, funds are received on bank account or via⁤ credit card.

The only issue why I am searching for EMI is that 40% of⁣ the users does not want to pay by credit card and there is where I⁢ am losing the money, since we are not in SEPA, bank takes 13 Eur out︀ of 50 Eur i receive for subscribtion which is nuts. then i spend additional %%︁ on taxes which kills my profit margin.

 

[ilke]

Unfortunately, the Lithuanian regulator truly has been quite⁤ crazy in the time surrounding now.

I don't think that the VPN solution of @vgahdmi123 is super complex or risky, however, EMIs generally try to avoid C2B regardless of the⁣ type or purpose.
Yes, it is a simple but quite︁ good e-money account with SEPA and SEPA instant clearing. There is not many extra features︂ and I think you are correct, they don't have card issuing.
True, they are not cheap solutions. Interpolitan could work, have not tried︅ them before due to no need but I know that they make 'on-demand' solutions fitting︆ to this risk type and involved countries.

 

[Forester]

Oh well. I must admit I did a different speculation when I saw the⁤ words “sw licences”. This changes the game.

OK.

Understandable.

OMG.

Sure.
I have certain︃ idea but rather not for a public sharing. Can you enter Mentor Group, or can︄ I send you a DM?

Exactly.

True; but︇ still I consider this case being strange a bit.

OK. Thanks!

 

[vgahdmi123]

@Forester how to i enter mentorship group? Sorry for dumb question but cannot find it?‌

 

[Forester]

Well, as I see, it is somehow quite well hidden‍ now 🙁 Sorry. Go to the Menu (usually to the left of the heading OffshoreCorpTalk but⁠ it can depend on your device) and then continue for the Account Upgrade. Or –⁤ I guess – if you click on the Mentor Group link (usually) at the bottom⁣ of the page, it should direct you to the Upgrade (I cannot check this as⁢ I am already “upgraded” – I mean having access rights to Mentor Group). Sorry for︀ the burden, really. (Or we can discuss this in DM.)

 

[vgahdmi123]

got response from Interpolitan today, they are willing to open but the cost is 3000‌ GBP for setup, are they reliable that it worth this amount?

 

[Forester]

What's your monthly/annual turnover – can you‍ share?

 

[vgahdmi123]

30-50k eur, their monthly charge is 250 gbp which is fine for me, but i‌ dont see reason to charge 3000 for setup
btw tried to send you pm but‍ also no option 😀

 

[Forester]

See, I‍ was asking about the turnover for the following reason: TBMK, pricing at Interpolitan Money is⁠ on the case-by-case basis. I presume that you were asked about your turnover when checking⁤ the possibility to be onboarded. If someone has 30-50k EUR monthly turnover (I understand that⁣ it is for a month) then the assumption that he is able and can be⁢ willing to pay 3k GBP for onboarding is reasonably fair (it's <10% of a monthly︀ turnover). Hence, why not to ask for it? 😉
(This is the reason 🙂 )

Bottom line:︁ I presume / understand that these 3000 GBP are to pay only when onboarded. If︂ it was just for a KYC procedure, payable upfront with no refund if failed, I︃ would call it a robbery.

Re: amount, see above 🙂
Re: reliability... honestly: I have no personal experience︅ with Interpolitan Money. From what I have heard, they are reliable. Yet any other member︆ is encouraged to comment on this.

Yes, naturally. As a quite new member you do︈ not have rights to do it. Just for the information, anyone can start conversation with︉ / send direct messages to other forum members either after (roughly said) being here active︊ for some time and gaining some reputation; or immediately after upgrading to Mentor Group. Details︋ are to find in Help section here https://www.offshorecorptalk.com/help/conversation-criterium/ or Account Upgrade...

I will DM you,︌ probably on Monday.

 

[vgahdmi123]

as an update:
After 1 month and checking different options, in the end I got‌ approved by

EM Bank
EBury (wanted 5000 GBP onboarding fee)
Interpolitan (fastest approval but high‍ fees)
Satchelpay

Satchelpay was the most convinient in term of fees, no fee for incoming⁠ transaction, onboarding is 1K eur for non-eu companies, but monthly maintenance is only 50 eur.⁤
In the end i chosed them and got my account today.

 

[ilke]

Good to hear!

Ebury is mostly for large scale; they issue accounts via large⁢ business banks and work well for big transactions, therefore the price does not surprise me︀ so much.

Interpolitan also matches my experience, they are pretty friendly but the costs reflect︁ that 🙂

Nice that Satchelpay is cooperative.

 

[Forester]

Yes, really good news.︂ Congrats, @vgahdmi123.

Yet I am a little bit afraid about Satchelpay re: reliability. I︃ do recommend to have one more solution available at hand.