This will effect 50+ EMI who used Payrnet as their provider. e. g, Wamo. At the moment funds are safeguarded in properly designated accounts at the Bank of Lithuania.
The Bank of Lithuania website has published more information about this decision here...
I have been using Wise since 2014. I have had personal, and business accounts with Wise since they started offering borderless accounts. When Wise opened the UAE office, I was asked for a picture of my UAE ID, I was stupid enough to do so. To make the long story short, Wise seized services to...
I am a resident of the UAE and have a Wise account for my UK and EE companies. All went well for two years with no issues. Last month I transferred EUR 5k from my UAE FZE LTD's bank account as a salary to my Wise personal account. I got an email from Wise asking loads of crap, e. g. what I do...
IMHO UAE just needs the money. By the way for an FZ company, to my knowledge, at least a hot desk space is always required. Unless it is some sort of "Offshore" FZ company, good luck to open a bank account with that.
Mashreq Neo - After opening AED account (Personal), you could instantly open foreign currency account in EUR/USD etc. Not sure if this is still possible. They delivered the debit card using fetchr. Emirates ID card required though.
@uplana because the only two options available "in my country" are
a) issued by UnionPay - not suitable for ZA. they use Visa and MC
b) VISA in crypto - high fees (required converting EUR to BTC + 2.95% loading fee + 0.75% FX fee)
I found ibandirect, the fees are too high. Any experience?
Advcash I think we tried last year and the debit card was a no go.
It's getting tougher every day.
@holywater I will try Dukascopy, thank you for the tip.
I'm looking for an EMI to provide a personal account with IBAN and a debit card for NON-EU residents. Preferably not one that charges EUR 900 opening fee :) It's for a citizen & resident of South Africa. It's not crypto-related, but it would be great if the EMI were open-minded (no Forex broker...
There are "consultants" in the UAE who can help create "substance/presence" and open bank account. In my case, the FZ (not RAK, though) hooked me up. I'd try to ask in the FZ.
Does any of you friendly people know of any EMI that excepts UAE FZ LLC and preferably issues debit cards in Euro? In a nutshell, I'm looking for a Wise Boadersless Business or Revolut Business copycat where I could hold and transact in multiple currencies.
Thank you!
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