UK LTD - Bank account to receive payouts?

[internationalgangster]

Hi Guys!

What bank / EMI can you recommend for a UK LTD to receive payouts from stripe / other payment processors?

Except Wise.
Needs to have EUR IBAN.

Expected volume: high 5, low 6 figure incoming per month.

Bonus: Needs to accept director living in China.

Thanks for all recommendations!

 

[JackAlabama]

what is your line⁤ of business? Gonna be the most determining factor.

 

[internationalgangster]

Ecommerce

 

[erni]

Did you try Revolut, Luna or Mister Tango ?

 

[internationalgangster]

not yet, will try

 

[ilke]

Worldfirst or Airwallex would⁤ be the best for this.

PingPongX or LianLian are also reasonable alternatives, but I do⁣ not have direct experience with them.

 

[montterio]

Is PayDo a good one ?

 

[ImKing]

They look very interesting‌ also with the many payment methods accepted
https://paydo.com/payment-methods/

 

[Clearsky Network]

Paydo is good, just onboarding takes time.

Payset, Payine, Airwallex

 

[CoinMaster]

are they‌ similar to Wise i.e. fast SEPA transfers, nice UI ?

 

[Clearsky Network]

Not at all...
Wise is cheap and relatively fast. On the other hand‌ the account is opened and closed very fast without any specific reason. No one to‍ talk with... (based on previous experience only)
Paydo is way more expensive and the onboarding⁠ takes longer, on the other hand you will get a dedicated account manager and very⁤ professional support.

 

[montterio]

Well my onboarding is very fast ... even at⁣ weekend they respond and approve account

 

[SoNewToAllShit]

Are you satisfied with the account with them @montterio ? I'm instantly looking for new‌ EMI's and banks to put my money on.

 

[YoungLansk]

The onboarding process is VERY VERY VERY long and complicated.

 

[fanban]

What timeframe we look into?

 

[YoungLansk]

We tried twice, probably 2 weeks of back and furth asking all kind of papers‌ and questions then we got rejected ( kosher Tech Business )

 

[brianK]

Reminds me of the time we had to apply for merchant accounts for card⁠ processing in the past, took ages to get the approval and final go live.

 

[ImKing]

two weeks would be acceptable if they can approve the account at the end⁠ of the day.

 

[SoNewToAllShit]

What bank did you replace this choice with then ?