Bankera for US/Global transactions

[MrDeddy]

Hi Guys,

I have a plan to set up n offshore company in the UAE for general trading (buying and selling IT hardware equipment).

I do not initially qualify for UAE bank account and so was looking to use an EMI - specifically Bankera for this purpose. However, I was just chatting with Bankera online and they informed me of the following:

• They only offer EUR accounts - can not send/receive USD
• They can only send/receive funds from SEPA banks - so EU only

This was not my understanding, anyway, I wonder if anyone has experience using Bankera?

Based on the above, can anyone recommend an EMI that will allow me to send receive funds from EU/US and Asian banks (Singaporean for example)?

Also a crypto friendly EMI is preferred.

Thanks

 

[Sols]

Take a look at Currencie and AirWallex if you have Asian suppliers/customers. Transferwise might also be an option.

Most EMIs are limited to SEPA+EUR payments. They only get access to SEPA and EUR because Bank of Lithuania is handing it out like flyers, which is good for transacting within the SEPA region. But as soon as you cross over into other regions, the EMI needs to partner up with other banks or payment processors, most of whom have a lower risk appetite than the type of EMIs that take on non-resident offshore companies, and so they are unable to offer other currencies.

USD is especially difficult due to how aggressive the US is and the constant threat for banks to have access to USD pulled in case of any wrongdoings.

 

[Gediminas]

Hi Guys,

I have a plan to set up n offshore company in the UAE for general trading (buying and selling IT hardware equipment).

I do not initially qualify for UAE bank account and so was looking to use an EMI - specifically Bankera for this purpose. However, I was just chatting with Bankera online and they informed me of the following:

• They only offer EUR accounts - can not send/receive USD
• They can only send/receive funds from SEPA banks - so EU only

This was not my understanding, anyway, I wonder if anyone has experience using Bankera?

Based on the above, can anyone recommend an EMI that will allow me to send receive funds from EU/US and Asian banks (Singaporean for example)?

Also a crypto friendly EMI is preferred.

Thanks

You can apply to Pervesk to access SWIFT. You can apply to Bankera and then ask to move your account to Pervesk (both belong to the same company group). Let me know if you need any help.