WorldCore.eu (feedback & review)

[Milky Moon]

I like to investigate new EMI's, so to get a feel of the future of banking/finance. Some have good affiliate programs, which is a added bonus.

Most EMI's/NeoBanks have straightforward onboarding procedures. Some are bad. Some have not really thought trough their onboarding. WorldCore falls in this last category.

Filling in the verification page is easy, uploading the documentation is easy also. You then have to click extra for starting the verification. And then the problems begin.

Question after question after question.
- Why do want a account (checked the boxes, on the form).
- Can you prove you own the affiliate domains/websites. (if I can add the affiliate-ID on the website, probably yes)
- What e-currencies do you want to trade in ? (you only have 1)
- and the last one:
Our compliance department declined verification status for your account.
Reason:
Please specify which way you are planning to fund your Worldcore account?
Solution:
Please provide full details and re-submit the form.

As WorldCore is reading the forum:
Why do you not ask these question beforehand, on the verification form as to make the onboarding procedure a smooth and pleasant experience ? This is now taking more than a month .....

Maybe organise a dinner for both your compliance department and your webdesign department ?

 

[suzy]

Maybe organise a dinner for both your compliance department and your webdesign department ?

LoL sounds like an interesting way of cooperation.

That said, they increase the compliance requirements all the time. They want to work like banks do but they are not and that's why most people choose them first. However, if they keep increasing the requirements soon people will go to a real bank rather an EMI because of the same document supply procedures for both.

 

[JohnLocke]

I have been doing fine with AdvCash all the time. They don't provide IBAN account numbers but in my situation it has not been necessary. If there is any new service or service that we should know about and which is easier to apply for with IBAN account number, then please guys, post here.

 

[negon]

So far I have been happy with worldcore and not been facing any troubles. However as you say OP, it has been over the last months they changed their policy.

 

[Sdp4462]

Of course governments everywhere want financial institutions to "know their clients" better in case there is a problem. The questions are a pain for everyone, but it is unlikely they will go away. Of course, you have to decide how to answer them...

 

[mrau]

Hi Milky Moon. Are you talking about a corporate account opening? (Not an individual one) right?

 

[Milky Moon]

No this was my personal account.

 

[mrau]

No this was my personal account.

Thanks @Milky Moon then I don't understand their question about ownership of affiliate domains/websites
What if someone doesn't own one?
Is it the same verification form for all personal accounts or this is something they are making to you? (Enhanced verification, etc)

 

[belarus]

interesting, have the same question, say someone own the website but it's in the name of a 3rd party?

 

[Milky Moon]

Yes, ultimalety I provided a link http://website.tld/worldcore.txt with some 'complements' to their compliance staff.

The account was then verified. For joining the referer programme you have to sign a 5 page document and give worldcore exclusivity. Which I refuse.

As far as I can see the contract is aimed at partnering, (introducers) so I guess they also have some room for improvement there too.