Amnis Treasury - Sounds Too Good?

[inector]

Found this online EMI - AMNIS Europe AG

They use Erste Group Bank AG on backend, so you get deposit insurance in Austria of 100k

But...Swiss corp, Liechtenstein licence, Austrian bank...why this mess?

Anyone used it?

 

[JohnLocke]

You mean these guys ?
https://amnistreasury.com/

 

[apres777]

You mean these guys ?
https://amnistreasury.com/

I think so.

Can't say much about them yet but spoke to one of their agents and they made a pretty good first impression (OBV this might deceives.)

The agent was pretty much better informed than most of the banking monkeys I spoke before. (Also he was able to speak fluent German and proper English therefore I consider them to actually be located in DACH Region)

They seems pretty straight forward regarding onboarding and needed documents. Regarding jurisdictions they told me they would do UK ,GER, CH and HK Entity actually wouldn't be a problem either (That's the ones I asked for probably more are available) They definitely ask for UBOs and residency, therefore needed documents differ from company to company (since I'm living in a HRJ they would need SoW from me for HK Entity for example.)

They also pretty immediately asked regarding crypto exposure, therefore I think they might not be the biggest fans of that.

Their business model is based on FX Rates keep that in mind, therefore they require your company to make international payments in different currencies, otherwise onboarding you as a client wouldn't be interesting for them (Therefore not a proper setup for a holding e.g)

Might give it a try

 

[Sols]

Medium risk appetite (won't take most typical offshore, won't take most high risk industries), reasonable pricing, and open to international businesses (cross-border transactions and cross-border ownership).

 

[Marzio]

I spoke with them and the bottom line is that they can onboard only companies where the UBO is tax resident where the company is incorporated.

 

[apres777]

I spoke with them and the bottom line is that they can onboard only companies where the UBO is tax resident where the company is incorporated.

They're handing out different informations then. Might go through onboarding and let you know.

We particularly spoke about a HK LTD. with European UBO but residence in HRJ and that wouldn't be a problem.

 

[Marzio]

Might go through onboarding and let you know.

That would be useful for all.

Residence in HRJ

I don't recognize HRJ, where is that place? Maybe you meant HRK (Croatia?)

 

[inector]

Currently speaking to them, will keep this updated.

Are there any alternatives to this? Bunq is one, but they only onboard Dutch companies...

 

[apres777]

That would be useful for all.



I don't recognize HRJ, where is that place? Maybe you meant HRK (Croatia?)

Sorry I'm talking about "High Risk Jurisdiction".

 

[2fire]

I have an account for several companies with Amnis for more than a year. I am moved from Wise (which is blocking account and asking for KYC again and again by different people). We collect money from our clients and subsidiaries in MENA and everything works smoothly. They even once saved money by blocking transactions to fraud account (mistakenly placed by my accountant). Time to time they might request documents for transactions, but nothing crazy. They don’t asking stupid questions again and again like CIM.

 

[inector]

I have an account for several companies with Amnis for more than a year. I am moved from Wise (which is blocking account and asking for KYC again and again by different people). We collect money from our clients and subsidiaries in MENA and everything works smoothly. They even once saved money by blocking transactions to fraud account (mistakenly placed by my accountant). Time to time they might request documents for transactions, but nothing crazy. They don’t asking stupid questions again and again like CIM.

For MENA they told me not to have too much exposure. You use your account purely for MENA ?

 

[2fire]

For MENA they told me not to have too much exposure. You use your account purely for MENA ?

Not purely. I am using them as global account. As a bank details you will have “The Currency Cloud Limited”, at their web site you can see with which countries they work:

https://support.currencycloud.com/h...*MTcwMDIyNDM3Ny4xLjEuMTcwMDIyNDM5My40NC4wLjA.
As my practical experience for me bounced incoming payments from Ukraine, Morocco.

Money from UAE / KSA at all comes instantly ‍

I don’t know for how long Amnis will works as good as now and will not become Wise.
Wise even blocked my personal transfer for “silver subscription” to Offshorecorptalk, thinking I am buying Silver ‍

 

[Forester]

They use Erste Group Bank AG on backend, so you get deposit insurance in Austria of 100k

But...Swiss corp, Liechtenstein licence, Austrian bank...why this mess?

I would not call it a mess, perhaps. CH and LI financial world is really closely connected and AT banks are known to be more lenient than CH and LI ones... (and again, there are clear CH-AT ties...)

Generally, AMNIS IMO looks as really interesting. Although they claim to be in business since 2014, as I can see, I've never heard of them (really, it does not mean much ); but thebanks.eu does not list them and neither neobanks.app. Nevertheless, their current licence is truly real, see EUCLID - Register (properly licensed in LI since 2021).
Also their (presented) transparency is impressive, see Meet amnis - the Platform for International Transfers | amnis – I have probably never seen such an exhaustive team list, I must say.
Probably worth trying, or at least worth a proper due diligence...

As a bank details you will have “The Currency Cloud Limited”

Interesting. Their webpage speaks about Erste (AT) only. Nevertheless, TCC is good. I guess that they probably have more banking partners and perhaps use different partners for different clients... (E.g. Intergiro did the same in the past.)

As my practical experience for me bounced incoming payments from Ukraine, Morocco.

Money from UAE / KSA at all comes instantly ‍

Both expectable from TCC, IMO.

Wise even blocked my personal transfer for “silver subscription” to Offshorecorptalk, thinking I am buying Silver ‍

ROTFL (but this is a Wise standard)

 

[JohnnyDoe]

I applied for a business account, I was kindly rejected because outside of their risk appetite.
But I was pleasantly surprised by their rep Colin, who called me and explained why my company didn’t fit their onboarding criteria: they don’t work with companies that as part of their business act as intermediaries between buyers and sellers, because they are a small company and unable to handle the regulatory compliance required for this type of clients.
He suggested me to instead apply with worldfirst and ibanfirst

 

[SCHLOSSFINANZ]

yes Amnis is a very solid and reliable Payment Institution

 

[JohnnyDoe]

yes Amnis is a very solid and reliable Payment Institution

It’s just another small monkey circus which happens to have one random humanoid working there.