Complete List of MULTI-CURRENCY Emis and Banks?

[banafinfodafuggiano]

Can we please make a full complete list of all EMIs and Banks that accept most of the first world companies that also provide
MOST of the main currencies available with LOCAL bank account details and that also provide virtual payment cards?

I'll start with:

- Wise
- Airwallex
- Currenxie


Anything else as good as the ones mentioned above?

 

[xeathk]

Revolut
3s money
Payset
OFX

 

[Cloudbanck]

Verifo
Zen
Interpolitan (companies can be registered anywhere not sanctioned, except US)
Narvi
Bilderlings
Intergiro (EEA only)
Juni (UK and EEA only)
Satchel (companies registered in any non-blacklisted country)
Statrys (mainly companies from HK, SG, BVI)
Vivid Money (companies registered in the EEA, and directors resident in the EEA only)
Levro (mainly US companies)

Not sure about virtual cards, but they usually offer it.

 

[jafo]

Genome.eu
mistertango.com
nebeus.com

 

[Marshal]

mistertango.com

Are they still okay and safe to use? I haven't used them personally, but have seen many bad reviews about them, including on this forum.

 

[Forester]

Can we please make a full complete list of all EMIs and Banks that accept most of the first world companies that also provide MOST of the main currencies available with LOCAL bank account details and that also provide virtual payment cards?

Such a list will never be complete; but I understand your intention and praise it!

Just quickly, some amendments:
– Worldfirst
– Ebury

and one correction:
Intergiro currently does not offer local payments, TBMK. Just SWIFT in some currencies.

 

[jafo]

Are they still okay and safe to use? I haven't used them personally, but have seen many bad reviews about them, including on this forum.

I always stay at high four digits and use them ONLY to pay for personal expenses they can easily recognize and search on Google, e.g., groceries, pharmacy, Amazon, etc., I do NOT send money to "people." Not even family, except my mom, when she was alive.

On the business side, I confirm with them before I give my clients (only multinationals or well-known companies easily found on Google) the green light to wire the money. So far, so good.

EDIT: Added "do NOT"

 

[banafinfodafuggiano]

Revolut
3s money
Payset
OFX

Revolut and OFX do not provide LOCAL bank accounts for 90% of their currencies, only SWIFT ones and local ones based off your residency.

I always stay at high four digits and use them ONLY to pay for personal expenses they can easily recognize and search on Google, e.g., groceries, pharmacy, Amazon, etc., I do NOT send money to "people." Not even family, except my mom, when she was alive.

On the business side, I confirm with them before I give my clients (only multinationals or well-known companies easily found on Google) the green light to wire the money. So far, so good.

EDIT: Added "do NOT"

What a nightmare.

I used to receive payments of $400,000 USD in one go into my Canadian business bank account 5 years ago from private customers without a single question raised.
EMIs can really be a pain in the butt.



Other question: How do all these EMIs manage to get local bank accounts in each country? Do they contact each individual local bank individually and try to convince them to open multiple bank accounts for their overseas customers, or they rely on a third party service like currencycloud?

 

[Sols]

Other question: How do all these EMIs manage to get local bank accounts in each country? Do they contact each individual local bank individually and try to convince them to open multiple bank accounts for their overseas customers, or they rely on a third party service like currencycloud?

A mix of all those things. Look at for example Wise's annual report and you'll see they have licenses in a lot of countries.

 

[jafo]

I used to receive payments of $400,000 USD in one go into my Canadian business bank account 5 years ago from private customers without a single question raised.

I'm not even going to say what we did up to 2010.
Up to 2000 would shock most people.
During the 90s, it was just wrong.
In the 80s? Looking back, if we did that today, we'd do a stand-up count twice daily and order commissary on Friday to pick it up the following Thursday.

 

[Forester]

What a nightmare.

Unfortunately, not a nightmare. Today's reality.

I used to receive payments of $400,000 USD in one go into my Canadian business bank account 5 years ago from private customers without a single question raised.
EMIs can really be a pain in the butt.

Well, “5 years ago” is the keyword, I am afraid.
A bank or an EMI, that's not so important. It is true that many of EMIs are not accustomed to routine 6 figures transfers, it is simply not their purpose; but some are.

@jafo depicted it pretty right below.
Tempora mutantur.

I'm not even going to say what we did up to 2010.
Up to 2000 would shock most people.
During the 90s, it was just wrong.
In the 80s? Looking back, if we did that today, we'd do a stand-up count twice daily and order commissary on Friday to pick it up the following Thursday.

 

[daniels27]

amnistreasury.com
pingpongx.com
currenciesdirect.com
hyperwallet.com
payoneer.com
photonpay.com
vertofx.com

 

[Cloudbanck]

Interesting list! Here is my research

Amnis - Swiss company with a swiss team, founded in 2014, focused on SMEs, you get a swiss IBAN in the company name, and I think US, UK, EUR accounts too. I have asked them if US LLCs can open an account.
Says non-fiat currency is a restricted activity, so not so crypto friendly, but seems pretty solid otherwise.

Pingpongfx - Very chinese, headquartered in mainland China, but global presence with money service license in the US and EMI licenses in Luxembourg and the UK. The non-chinese site is PingPong: The Leading Cross-Border Payments Platform
No idea if they onboard US LLCs, I asked them on their form.

Photonpay.com - From Guandong/Hong Kong/Macau area, headquarter seems to be in Shenzen in mainland China, but with legal entities in Hong Kong (office), UK (office), US, Lithuania. Again, not sure if they onboard US LLCs but I have asked them.

Hyperwallet - Owned by PayPal, seems to be more a payment service than an EMI with stand alone accounts.

Currencies Direct - Started out as an fx exchange service in the UK in 1996, but possibly they now offer proper accounts like an EMI (to be confirmed). Global presence with offices in Spain, Portugal, South Africa, US, Canada, India

VertoFX - Started in the UK in 2018, Y-Combinator is an investor, tech focused, founders are Africans living in London so they have a bit of an Africa focus and Africa understanding which I like since I (partly) live in West Africa. You get local bank account details in multiple countries/currencies. Not crypto friendly, they write "Please Note: we do NOT and WILL not deal with cryptocurrency exchanges or affiliates as this currently falls outside of our risk appetite."

Payoneer - US based, founded in 2005, seems it is more a payment service and doesnt provide stand alone accounts, as per this thread Payoneer ask me for a bank account in order to get my bank account in Payoneer where Payoneer requires users to have a bank account somewhere else to link to Payoneer.

 

[RobertNozick]

https://www.yoursafe.com/ (ex Bitsafe)
FV Bank

Both crypto friendly

 

[JohnLocke]

nice share of a list for EMI's the comments from you guys are awesome and very helpful for anyone who find this thread!

 

[Forester]

Amnis - Swiss company with a swiss team, founded in 2014, focused on SMEs, you get a swiss IBAN in the company name, and I think US, UK, EUR accounts too.

Just a tiny amendment – if nothing has changed very recently (~4 months), they have a LI licence, not a CH one (but being a CH company) and they have had as partners Erste Bank AT and The Currency Cloud (UK), so I am a little bit surprised with CH IBAN... Could you share BIC code that belongs to the CH IBAN? I wonder who is backing them there...

Says non-fiat currency is a restricted activity, so not so crypto friendly, but seems pretty solid otherwise.

Yes, it seems so.

FV Bank

TBMK, FV bank does not offer local payments other than US (ACH, namely). Or am I wrong?

 

[Marshal]

FV bank does not offer local payments other than US (ACH, namely). Or am I wrong?

Exactly, not very useful for someone based in Europe.

 

[Cloudbanck]

Just a tiny amendment – if nothing has changed very recently (~4 months), they have a LI licence, not a CH one (but being a CH company) and they have had as partners Erste Bank AT and The Currency Cloud (UK), so I am a little bit surprised with CH IBAN... Could you share BIC code that belongs to the CH IBAN? I wonder who is backing them there...

I just tried their demo account and it doesnt show the BIC. Would like to know too!
It says

• CH-IBAN in the name of your company for local collections
• Free, local payments and collections in the UK, US, CH & EU

right on their landing page.

 

[Forester]

I just tried their demo account and it doesnt show the BIC.

Oh well. Does it show at least some (generic/artificial, of course) IBAN?

Would like to know too!
It says

• CH-IBAN in the name of your company for local collections
• Free, local payments and collections in the UK, US, CH & EU

right on their landing page.

Understandable.

 

[RobertNozick]

TBMK, FV bank does not offer local payments other than US (ACH, namely). Or am I wrong?

Yup, EUR is available