Do you know PaySend a swiss neobank?

[burden]

As the title say, do you know Paysend ?
https://paysend.com/en-ch
They are Swiss based neobank. They can send international transfers for just 2 CHF - I don't know if that's only for personal use and no company use?

 

[JohnnyDoe]

As the title say, do you know Paysend ?
https://paysend.com/en-ch
They are Swiss based neobank. They can send international transfers for just 2 CHF - I don't know if that's only for personal use and no company use?

Paysend is a UK (Scotland) company. They offer pure money transfer and currency exchange services, like xe.com.
Depending on where you visit them from, they appear to be based in that country (typical marketing trick).
I never used them, but I have an account, so I will try. Thanks for reminding me that they exist

 

[Sols]

They are not Swiss. It's a UK EMI.

Paysend plc is authorised and regulated by the Financial Conduct Authority in the United Kingdom, reference number 900004. Company number SC376020. Global HQ: 20 Garrick Street, London, WC2E 9BT, United Kingdom

It's a little strange that their claimed UBO (PSC) to the UK Companies House shares surname with another person, who claims to be the company's founder. It does not seem like a stretch to imagine that the real UBO is the founder but they have presented the founder's spouse as UBO for some reason.

They occasionally run aggressive marketing campaigns. Their focus is more on sending money than keeping a balance on an account.

 

[burden]

I see, it's not for me. Thank you for the input, much appreciated.

 

[icecold]

Bastards, they should clear advertise what they are and where they are from!

 

[lostguy]

Regular EMI bank, not useful for much

 

[DeutschSamoaner]

Applicable in October 2022: In regards to Paysend, for the limit of 1.000 EUR per 6-month period, they don't require any documents. In order to increase it to 10.000 EUR limit per 6-month period, they require a personal ID document, that can also be from any applicable country in which they operate (around 170 jurisdictions).

If you manage to get a proof of address (other non-banking/Fintech institutions not accepted in a case of bank statement), your limit would be raised to 15.000 EUR in a 6-month period. It is a good trick to spend the 10.000 EUR limit first, and then apply for the 15.000 EUR one. That way you would have a 25.000 EUR limit per maximum one year, depending on the moment you decide to raise it to 15.000.

To order Paysend card, you need to provide the proof of EU/EEA residence (EU/EEA ID card, EU/EEA passport or EU/EEA residence permit). Any of these documents would also allow you to receive money from other Paysend accounts and increase your one-off top-up limit.

I haven't tested larger amounts, so it is preferable for someone more experienced to give their opinion on that.

 

[icecold]

It's a good solution for small amounts to be transferred without KYC! Not bad, wonder how long such service will last.