An EMI for both EU and Russia

[bandanna]

Hello,

I’d like to ask if there’s an EMI, whether for private or corporate clients, that can store both EUR and RUB, for which I’m able to transfer to and from Russia.

I don’t care where’s the EMI based, my assumption it’s easier to find such thing based in HK or SG than EU.

Grateful for your tips!

 

[Marshal]

I doubt you will find any bank in Singapore that deals with RUB. Happy to be proven wrong.

 

[clemens]

If you find one, post here please. I don't know about any!

 

[Fouche]

Hello,

I’d like to ask if there’s an EMI, whether for private or corporate clients, that can store both EUR and RUB, for which I’m able to transfer to and from Russia.

I don’t care where’s the EMI based, my assumption it’s easier to find such thing based in HK or SG than EU.

Grateful for your tips!

Hello!
Your case won't work perfectly. If you want EMI - Kazakhstan but cheesy KYC and high fees. Classic banking - China, Turkey but you will need introduction.

 

[bandanna]

Hello!
Your case won't work perfectly. If you want EMI - Kazakhstan but cheesy KYC and high fees. Classic banking - China, Turkey but you will need introduction.

So through a bank in Turkey/China I can store and move both EUR and RUB?

 

[avalanche]

Hello,

I’d like to ask if there’s an EMI, whether for private or corporate clients, that can store both EUR and RUB, for which I’m able to transfer to and from Russia.

I don’t care where’s the EMI based, my assumption it’s easier to find such thing based in HK or SG than EU.

Grateful for your tips!

Sounds like you're looking for a bank. Probably somewhere in Armenia

 

[Fouche]

So through a bank in Turkey/China I can store and move both EUR and RUB?

In China only CNY, USD - no EUR
Turkey you can do both.
anyway it won't work for any business, closer look needed.

 

[TheCryptoAnt]

Hello,

I’d like to ask if there’s an EMI, whether for private or corporate clients, that can store both EUR and RUB, for which I’m able to transfer to and from Russia.

I don’t care where’s the EMI based, my assumption it’s easier to find such thing based in HK or SG than EU.

Grateful for your tips!

For private you can try banks in Armenia and Kazakhstan.

 

[Clearsky Network]

There is a bank with license in Western Sahara. They have very high fees but do provide RUB accounts.
I wouldn't trust such a bank with a penny, but you dont really have much choice.
Other than that bank in Kazakhstan, Serbia and Armenia could work

 

[Marshal]

Other than that bank in Kazakhstan, Serbia and Armenia could work

Which bank in Serbia offers RUB accounts?

 

[Revoltec]

Which bank in Serbia offers RUB accounts?

Raiffeisen
https://www.raiffeisenbank.rs/racuni/devizni-racun/

 

[Sudox]

There is a bank with license in Western Sahara. They have very high fees but do provide RUB accounts.
I wouldn't trust such a bank with a penny, but you dont really have much choice.
Other than that bank in Kazakhstan, Serbia and Armenia could work

Out of curiosity are you able to share the name of this bank? To my knowledge there aren't any independent banks in Western Sahara and any banks that claim to be licensed there are scams and should be avoided similar to Comoros.

 

[jaichja]

I would like to say something about Raiffeisen in Serbia. I opened bank account there this summer, EUR and local also, I am from there. But, I am not living there, so they told me I need to put local time on my phone if I want to use online their app, there is some kind of glitch. So I do that, but apparently I am far away, or whatever, because it didn't work, and now my account is blocked So, if you are not live there, that can be a problem. But if you are there, everyone said it is really good.

 

[ilDavid6311]

Which turnover we talking about? If high, my advice is to avoid EMI and go for an high-street bank, in Turkey, Serbia, Armenia, Kazakistan...

 

[JimBeam]

I would like to say something about Raiffeisen in Serbia. I opened bank account there this summer, EUR and local also, I am from there. But, I am not living there, so they told me I need to put local time on my phone if I want to use online their app, there is some kind of glitch. So I do that, but apparently I am far away, or whatever, because it didn't work, and now my account is blocked So, if you are not live there, that can be a problem. But if you are there, everyone said it is really good.

But what if you go on a vacation and you login to check your balance or pay some bill.

 

[jaichja]

But what if you go on a vacation and you login to check your balance or pay some bill.

Man who is working in bank and with whom I talked when I opened my account, said he was using in Greece without any problem, but he didn't change time on his phone, he left it on Serbian time (that is 1 hour before Greece, CET). I am far away now, so I can't left it on Serbian local time. I changed time before I used the app, but still I had problem. If you live outside of Serbia, it can be problem. Just for vacation, maybe not, I don't know.

 

[wellington]

I'd imagine you are in need of something that is essentially a 'front-end' sitting on top of various EMI's & Banks...

There's a few out there, essentially you have dashboard money which you can turn into real money via SEPA bank transfer (or RUB equivalent) and where USD is concerned its Caribbean Dollar sitting behind USD (front end dashboard), you'd also have the ability for various cards for specific rails, for Example Visa/MasterCard for Eurozone/US, and Unionpay for China/Russia etc which on the front end appear as $ or Euro but backend is either Caribbean Dollar, or Euro's.

The problem ofcourse there is so many moving parts, for examples, the Unionpay would sit on a bank in the Caribbean which would correspond to banks elsewhere, their card system would be issued under the branding of the supplier but be provided by a the Bank in the Caribbean but ultimately issued via a US Card-vender.

... etc... which comes with a lot of risks with services going down, providers cutting services to the ultimate end company thus you etc.

---


There is however a Private Bank in Switzerland that still deals with Rubles, CHF, EURO (might also do $ can't remember) fees (maintenance about 1k a year, lots of paperwork filing, card(s) provided by another swiss company (can't remember the name) but the bank has been mentioned on here a few times...

 

[Revoltec]

I would like to say something about Raiffeisen in Serbia. I opened bank account there this summer, EUR and local also, I am from there. But, I am not living there, so they told me I need to put local time on my phone if I want to use online their app, there is some kind of glitch. So I do that, but apparently I am far away, or whatever, because it didn't work, and now my account is blocked So, if you are not live there, that can be a problem. But if you are there, everyone said it is really good.

Maybe try use a VPN and log in from Serbia as well?

 

[Marshal]

I would like to say something about Raiffeisen in Serbia. I opened bank account there this summer, EUR and local also, I am from there. But, I am not living there, so they told me I need to put local time on my phone if I want to use online their app, there is some kind of glitch. So I do that, but apparently I am far away, or whatever, because it didn't work, and now my account is blocked So, if you are not live there, that can be a problem. But if you are there, everyone said it is really good.

That's karma of any bank that deals with RUB Just kidding

 

[Sudox]

Hello,

I’d like to ask if there’s an EMI, whether for private or corporate clients, that can store both EUR and RUB, for which I’m able to transfer to and from Russia.

I don’t care where’s the EMI based, my assumption it’s easier to find such thing based in HK or SG than EU.

Grateful for your tips!

Easiest would be in one of the CIS countries (Armenia/Kazakhstan/Kyrgyzstan/Tajikistan/Uzbekistan) as opposed to HK/SG as others have already said.

Whilst researching more about the current situation in Russia I came across Bank 131 opens corporate accounts in rubles, dollars, and euros (Current accounts for businesses | Bank 131) and I wonder if anyone has experience with them as they claim to support transfers in both RUB and EUR in an out of Russia.