Transfer USD from LeoPay to other banks?

[Jusimoto]

Hi,

I've recently made a big sum transfer from my PayPal to LeoPay in USD. Now I try to transfer the USD amount to other bank accounts and as far as I know that's not supported by LeoPay for a long time now? Is there any way to get the USD out of there or do I have to make the conversion to EUR in LeoPay and loose money because of bad exchange rates?

 

[Flatworld]

...why you transfer USD to Leopay recently? so many bad reviews here... 😳

 

[Jusimoto]

Flatworld said:
...why you transfer USD to Leopay recently? so many bad reviews here... 😳
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Yeah, didn't know about the problems... But many local drop shippers here in Lithuania recommended it. I don't get how you can receive USD but can't send it anywhere. If anyone has encountered this problem, please advise. Thanks.

 

[Bmw850]

Why don't you send in euros?

 

[Jusimoto]

Bmw850 said:
Why don't you send in euros?
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I would loose 200 eur by converting 10k USD to eur in LeoPay, where I would not loose that amount doing it localy.

 

[Martin Everson]

Jusimoto said:
I would loose 200 eur by converting 10k USD to eur in LeoPay, where I would not loose that amount doing it localy.
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Better than loosing 10k with a laundromat owned by same owner of now defunct laundromat Satabank. You made a bad choice with Leopay.

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Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.

 

[Bmw850]

Mate everybody come here saying they got big money and cry for 2 cents.
So 200 is 2% of 10k. Do you really want to move money for free?
I m not a CSP or a lawyer or a tax advisor. Only a businessman and my advice is move your money fast for 200 euros lost, before you loose everything with Leopay because it what will happen

 

[Bmw850]

@Martin Everson big lol. Next time I ll wait for your comment before putting mine😛

 

[Jusimoto]

Bmw850 said:
Mate everybody come here saying they got big money and cry for 2 cents.
So 200 is 2% of 10k. Do you really want to move money for free?
I m not a CSP or a lawyer or a tax advisor. Only a businessman and my advice is move your money fast for 200 euros lost, before you loose everything with Leopay because it what will happen
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Martin Everson said:
Better than loosing 10k with a laundromat owned by same owner of now defunct laundromat Satabank. You made a bad choice with Leopay.
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When you're doing business 200 eur is not just trash that you can easily throw away, when it can obviously be avoided. I did the same thing through LeoPay with GBP and everything went fine.

Do you know any solutions for USD and GBP wiring from PayPal to bank that gets you USD and GBP VISA cards from which you can transfer the funds to your local banks?

Thanks.

Martin, if there are better ways than LeoPay, I will gladly listen. What about Revolut?

 

[Bmw850]

I m out of tip mate. You take a big risk letting your money at leopay and it s my concerns. I don't really mind about the 200 euros.
I guess professionals will come during the day and will offer you other ways to fit your requirements.
Good luck

 

[Martin Everson]

Jusimoto said:
When you're doing business 200 eur is not just trash that you can easily throw away, when it can obviously be avoided.
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Risking 100% of 10k for $200 is called stupidity for any business person new and old.

Jusimoto said:
I did the same thing through LeoPay with GBP and everything went fine.
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Many people did the same thing through their sister company SATABANK and it went fine.....wait hold on a minute. Many people used Bernard Madoff and never had an issue.....now wait a minute....hummm I think there is a pattern here.

Jusimoto said:
Martin, if there are better ways than LeoPay, I will gladly listen. What about Revolut?
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See the EMI list on forum. Try transferwise or Revolut. Sorry but I don't personal deal with USD period. The fact you chose Leopay speaks volumes in itself.

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Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.

 

[Jusimoto]

Martin Everson said:
Risking 100% of 10k for $200 is called stupidity for any business person new and old.



Many people did the same thing through their sister company SATABANK and it went fine.....wait hold on a minute. Many people used Bernard Madoff and never had an issue.....now wait a minute....hummm I think there is a pattern here.



See the EMI list on forum. Try transferwise or Revolut. Sorry but I don't personal deal with USD period. The fact you chose Leopay speaks volumes in itself.
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I was recommended LeoPay by many local community members. First time I hear about these problems is on this forum. If I had knew that LeoPay was shady I wouldn't have created an account on it or I would have looked in at it more. But as there was a very strict and regulated account creating process I didn't suspect anything. Anyways, I'll see if Revolut (which I have also heard some bad things about) will work for me. There's probably no banking insitution in the world that hasn't done shady things 🙂

Thanks

 

[Martin Everson]

Jusimoto said:
There's probably no banking insitution in the world that hasn't done shady things
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Yes but Leopay is no bank and it is run by Bulgarian owner with Russian mafia connections. It started of good and then went down hill unfortunately changing jurisdictions and names to cover its trail. However if genuine customers like you leave it will only make the problem worse as it will leave their laundromat with no cover business.

Feedback also on USD with Leopay is not good but at least you got the USD in first place.

https://www.trustpilot.com/users/5d0f29132895f2baa7b82a72

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Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.

 

[Jusimoto]

Martin Everson said:
Yes but Leopay is no bank and it is run by Bulgarian owner with Russian mafia connections. It started of good and then went down hill unfortunately changing jurisdictions and names to cover its trail. However if genuine customers like you leave it will only make the problem worse as it will leave their laundromat with no cover business.

Feedback also on USD with Leopay is not good but at least you got the USD in first place.

https://www.trustpilot.com/users/5d0f29132895f2baa7b82a72
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Yeah I wonder how I even got the USD in, because it said no incoming or outcoming USD transactions are available. Well, I guess I'll just convert to EUR and transact that amount. Thanks for the help.

 

[Martin Everson]

Jusimoto said:
Well, I guess I'll just convert to EUR and transact that amount.
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Well let us know if it worked. Or they have not communicated to you the USD is frozen but looks available to you eek¤%&

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Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.

 

[Jusimoto]

Martin Everson said:
Well let us know if it worked. Or they have not communicated to you the USD is frozen but looks available to you eek¤%&
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The eur. money came to my bank account quickly. I will continue to use LeoPay for my gbp transactions until I find a better solution. Thanks for the info.

 

[fuorissimo]

Martin Everson said:
Yes but Leopay is no bank and it is run by Bulgarian owner with Russian mafia connections. It started of good and then went down hill unfortunately changing jurisdictions and names to cover its trail. However if genuine customers like you leave it will only make the problem worse as it will leave their laundromat with no cover business.

Feedback also on USD with Leopay is not good but at least you got the USD in first place.

https://www.trustpilot.com/users/5d0f29132895f2baa7b82a72
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I read what is wrong: no EPB, no leopay, no here, no there...

Delaware, wrong. Porto Rico, failure. Euro Pacific Bank, scam.

NO ONE post or tell, do this or do that. I have read about 300pages on this site: ZERO EMI, ZERO BANK and ZERO solutions for offshore company. I continue only to read: WRONG THIS, WRONG THAT, but ZERO useful awnsers.

Why?

 

[Nyep]

Jusimoto said:
Yeah I wonder how I even got the USD in, because it said no incoming or outcoming USD transactions are available. Well, I guess I'll just convert to EUR and transact that amount
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You can avoid the conversion if you got one of the free debit cards from Leopay denominated in USD. In that case you can "load" that money to your Transferwise Borderless account via the debit card and "only" pay 0.75% instead of 2%+fees.

 

[Jusimoto]

Nyep said:
You can avoid the conversion if you got one of the free debit cards from Leopay denominated in USD. In that case you can "load" that money to your Transferwise Borderless account via the debit card and "only" pay 0.75% instead of 2%+fees.
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Thanks for the tip. Do you know why exactly I can't just directly transfer the USD funds to another account from Leopay? Thanks.

 

[Nyep]

Jusimoto said:
Do you know why exactly I can't just directly transfer the USD funds to another account from Leopay?
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Leopay lost their USD capability back when they were still called Leupay and operating via Satabank. They used to say that it's "temporarily unavailable", and a while ago they cleverly decided to drop "temporarily" out of the sentence, when it was clear that no banking partner will ever let them run USD transactions through. The US is trigger happy, and no bank is willing to risk their USD peers over a small player like Leo.

Pretty damn weird that you were able to receive USD in the first place.