Yeah but my account is closed on Wise 😀. I will check out Kraken. But exchanges are not secure either
Wise closing my business account need new EMI or bank
- Thread starter ayousupply
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Ok update guys. I am exchanging the € to $ at 3s Money, exchange rate on wise is much better 🙁 but ok what can i do..
Will update as soon I do the transfer to the US company
Will update as soon I do the transfer to the US company
So the transfer is stuck with compliance at 3s Money. I hope they will soon release the payment. They have the documents. Any one had issues with them?
update, transfer went through. I am happy with 3S Money. Only downside their conversion from EURO TO USD sucks
update, transfer went through. I am happy with 3S Money. Only downside their conversion from EURO TO USD sucks
Not to point out the obvious - but why are you transferring directly from high risk merchants to EMIs or Banks in the UK? Europe / other?
This is automatically a red flag and the compliance costs just make clients like that for low cost focused banking untenable hence de banking.
You’d do best to utilize a high risk merchant that you pay the fees (higher) to process you into the banking system - they charge more because they are running higher compliance processing - once they are satisfied you can then transfer to normal banking that is reliant on the high risk processor to︀ have carried out the verification and can lean on that to cover their own arse︁ whilst not having to deal with the high costs of you being their client -︂ they also will file SARs more routinely because funds are coming from the high risk︃ merchant - but again that’s to cover their arse, but as you are legit (presumably)︄ these ultimately lead no where and are merely a formality of banking.
This is automatically a red flag and the compliance costs just make clients like that for low cost focused banking untenable hence de banking.
You’d do best to utilize a high risk merchant that you pay the fees (higher) to process you into the banking system - they charge more because they are running higher compliance processing - once they are satisfied you can then transfer to normal banking that is reliant on the high risk processor to︀ have carried out the verification and can lean on that to cover their own arse︁ whilst not having to deal with the high costs of you being their client -︂ they also will file SARs more routinely because funds are coming from the high risk︃ merchant - but again that’s to cover their arse, but as you are legit (presumably)︄ these ultimately lead no where and are merely a formality of banking.
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