Stable EMI for five figure transactions

[Mister M]

Dear Offshorecorptalk Community.

I am looking for an personal/business EMI account, to receive low five figure amounts without any hassle of additional compliance or source of funds. Blackcatcard started asking for SoF recently even on amounts around 10000€. Atleast they resolved this within seven days.

Happy about any recommendations, especially for personal accounts.

Kind regards

 

[JohnLocke]

It really depends on how you run your company. As long as you have receipts (i.e., invoices) for all the transactions you make, and they are not fake or manipulated in any other way, there shouldn't be any problems. Of course, it also depends on the business model you have presented to the EMI (Electronic Money Institution) you are using. Is it a legitimate business, and have you disclosed everything or omitted something?

Otherwise, Wise, Revolut etc. works very well.

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[Mister M]

JohnLocke said:
It really depends on how you run your company. As long as you have receipts (i.e., invoices) for all the transactions you make, and they are not fake or manipulated in any other way, there shouldn't be any problems. Of course, it also depends on the business model you have presented to the EMI (Electronic Money Institution) you are using. Is it a legitimate business, and have you disclosed everything or omitted something?

Otherwise, Wise, Revolut etc. works very well.
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Thank you very much, but using Wise or Revolut is a hassle. Once they start asking for SoF, it takes ages to get the account unblocked. Thats why I am asking for a better solution to receive these sums without having the hassle to go through a lot of freezed funds. Blackcatcard worked in the past for me, but they start to become more and more picky.

Do you have any suggestions that could fit my needs?

 

[void]

paysera never asked for anything....

 

[JohnLocke]

I tried to get an account with Paysera a few years ago, but without success. And then there were all the problems with the company that you can also read about on this forum. But if they never ask for SOF, then it's probably something to consider again. From which country do they operate and are they Russian-owned?

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[Mister M]

JohnLocke said:
I tried to get an account with Paysera a few years ago, but without success. And then there were all the problems with the company that you can also read about on this forum. But if they never ask for SOF, then it's probably something to consider again. From which country do they operate and are they Russian-owned?
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Judging by Payseras Trustpilot reviews, they block accounts without any reason and ask for SoF for every little transaction, so thats a No-No for me

 

[JohnnyDoe]

I still have personal and corporate accounts with Paysera, I have been asked a few docs here and then, nothing too stressful.

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[Forester]

JohnLocke said:
I tried to get an account with Paysera ...
From which country do they operate and are they Russian-owned?
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It's a Lithuanian EMI, with offices in some more European countries (I recall ”“ and have briefly checked ”“ Bulgaria, Estonia, Georgia; and it's not all, probably). More than 10 years in the business, used quite a lot, TBMK.
The owners are Lithuanians, AFAIK; but I do not know whether there are some Russian ties in the background or not...

Mister M said:
Judging by Payseras Trustpilot reviews, they block accounts without any reason and ask for SoF for every little transaction, so thats a No-No for me
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Validity and reliability of Trustpilot reviews is really low and in many cases close to zero. (I do not want to say that the Paysera is excellent, I have no proofs for this.)

Mister M said:
I am looking for an personal/business EMI account, to receive low five figure amounts without any hassle of additional compliance or source of funds.
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Unfortunately, it is not very well doable now, I am afraid.

Mister M said:
Blackcatcard started asking for SoF recently even on amounts around 10000€.
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It's quite common. 10k is a sum that is big enough for a lot of EMIs to start with some compliance, at least for personal accounts.
For business accounts, it mainly depends on your business and your track record; for example, Currenxie does not ask me for an additional compliance for low 5 figs incoming payments from known clients but for outgoing to a unknown subject they do some compliance (although bearable).
Of course, if you have a personal account with some private bank and something like seven figures there, they will probably not ask you about five figures transaction; but do not expect it from some (reasonably reliable) EMI, IMO. (Anyone is pleaded to correct me if I'm wrong...)

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[Zikki]

JohnnyDoe said:
I still have personal and corporate accounts with Paysera, I have been asked a few docs here and then, nothing too stressful.
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You are quite lucky. Complete legitimate business here but I have to review my KYC questionnaire once every two months, during the verification the account is inactive (basically frozen) until validated... again and again.. depending on the timing, it comes with headaches (paying wages and so on)