EMI with USD account for non-EU resident

[Offshr]

Hello,

I have a need to pay small amounts in USD (800-3000) to offshore banks to countries like St. Vincent, BVI etc.
Up to now I did it via Revolut and was completely happy. But since I left the EU lately my ID card has expired and Revolut limited my transactions, the account will be closed soon.
Which EMI can you suggest for me in this case for such payments?
My general concern is the fees amount.

I have an account with Wise, but for some reason they do not allow to make transfers to offshore jurisdictions.
I opened with Bankera but they provide only EUR account which is quite basic tbh.
I applied to Paysera account but they are reviewing my KYC for for over a week now, which itself sounds ridiculous.
Also opened with AdvCash but they do not provide such a service.

A bit of surprise for such a difficulty in the modern world given that I am applying for individual accounts.

 

[menzu]

Will you be paying with a Debit card or bank transfer ?

 

[Offshr]

Will you be paying with a Debit card or bank transfer ?

With bank transfers.

 

[Forester]

I have a need to pay small amounts in USD (800-3000) to offshore banks to countries like St. Vincent, BVI etc.

Please, share a full list of destinations. Various Caribbean or another “offshore countries” can be treated differently by banks/EMIs. For example, Airwallex some time ago was OK with BVI and Grenada but not with St. Vincent and Grenadines.

Up to now I did it via Revolut and was completely happy. But since I left the EU lately my ID card has expired and Revolut limited my transactions, the account will be closed soon.

What is your current residence and nationality? It matters...

Which EMI can you suggest for me in this case for such payments?
My general concern is the fees amount.

Just as a general first shot, try to check Moneycorp. (As I do not know your full list of destinations, I can't say for sure.)

I applied to Paysera account but they are reviewing my KYC for for over a week now, which itself sounds ridiculous.

A week for KYC is completely common now, even much more. (I am not advocating for Paysera, just describing the common reality.)

A bit of surprise for such a difficulty in the modern world given that I am applying for individual accounts.

Just a remark, maybe surprisingly it might be easier to find a business account provider.

 

[Offshr]

Please, share a full list of destinations. Various Caribbean or another “offshore countries” can be treated differently by banks/EMIs. For example, Airwallex some time ago was OK with BVI and Grenada but not with St. Vincent and Grenadines.

Basically the more offshore centres acceptable the better. Right now I have an urgent need for BVI, St.Vincent, Hong Kong to make transfers.

What is your current residence and nationality? It matters...

I cannot share this publicly, but it is autside the EU and it is not toxic like Russia, Iran, North Korea.

Just as a general first shot, try to check Moneycorp. (As I do not know your full list of destinations, I can't say for sure.)

Great, thanks for advise!

A week for KYC is completely common now, even much more. (I am not advocating for Paysera, just describing the common reality.)

Just a remark, maybe surprisingly it might be easier to find a business account provider.

Idk, for offshore jurisdictions I have a few options in Lithuania and Cyprus. Bot for normal multycurrency account with swift and SEPA they charge a lot. And they promise documents requests for every transactions, so idk tbh what to do with that.
The offshore banks are also expensive and non reliable.

 

[Forester]

Basically the more offshore centres acceptable the better. Right now I have an urgent need for BVI, St.Vincent, Hong Kong to make transfers.

Sorry for some silence, I was on a short holidays...

Well, Moneycorp should be OK with BVI, St.Vincent and Hong Kong as well, I hope.
Or you can try Nebeus – that freshly introduced transfers functionality. Their list of supported countries is surprisingly long...

I cannot share this publicly,

Well, it is at your sole discretion (feel free to PM me, if necessary).

but it is autside the EU and it is not toxic like Russia, Iran, North Korea.

Be advised that the list of “high-risk countries” is usually much, much longer than the abovementioned, sometimes even surprising and it varies from one institution to another.

Idk, for offshore jurisdictions I have a few options in Lithuania and Cyprus. Bot for normal multycurrency account with swift and SEPA they charge a lot.

I do not fully understand what you mean; but yes, Lithuanian EMIs are usually not very cheap (exceptions occur).

And they promise documents requests for every transactions, so idk tbh what to do with that.

It is completely common nowadays; be prepared for it everywhere.

The offshore banks are also expensive and non reliable.

I do not understand what you mean by “offshore banks” – generally, any bank outside the jurisdiction of your residence and/or activity is for you a offshore bank. If you mean the banks in jurisdictions like you named above (BVI, St.Vincent and Hong Kong), you can be right or wrong as well – it depends on a particular bank (but generally, for example banks in HK are OK).

 

[Offshr]

Sorry for some silence, I was on a short holidays...

Thank you very much indeed! It is really helpful.

Well, Moneycorp should be OK with BVI, St.Vincent and Hong Kong as well, I hope.
Or you can try Nebeus – that freshly introduced transfers functionality. Their list of supported countries is surprisingly long...

Just opened an account with Nebeus, they do not provide wire transfers (eur only sepa) but rather only card withdrawal. Overall, quite a lousy copy of AdvCash
There was a funny story with proof of address, they did not accept my statement from Wise at first, than they accepted it, but the support replied that they cannot accept the document (effectively after they accept it).
So I would not recommend that thing.

I applied to Moneycorp bus still have not received any reply from them. Will be in touch with them.

what I really need is wire transfers in USD.

Well, it is at your sole discretion (feel free to PM me, if necessary).


Be advised that the list of “high-risk countries” is usually much, much longer than the abovementioned, sometimes even surprising and it varies from one institution to another.


I do not fully understand what you mean; but yes, Lithuanian EMIs are usually not very cheap (exceptions occur).

It is completely common nowadays; be prepared for it everywhere.

I do not understand what you mean by “offshore banks” – generally, any bank outside the jurisdiction of your residence and/or activity is for you a offshore bank. If you mean the banks in jurisdictions like you named above (BVI, St.Vincent and Hong Kong), you can be right or wrong as well – it depends on a particular bank (but generally, for example banks in HK are OK).

Thanks once again!

 

[Forester]

Thank you very much indeed! It is really helpful.

You are welcome.

Just opened an account with Nebeus, they do not provide wire transfers (eur only sepa) but rather only card withdrawal.

Apparently, it is under heavy development. I have even seen the fees for SWIFT transfers somewhere at their webpages – and, simultaneously, I remember the announcement “debit cards coming soon”.

Overall, quite a lousy copy of AdvCash

Good point. Nevertheless, it seems to me that the Nebeus and AdvCash setups (and maybe business concepts) really differ.

There was a funny story with proof of address, they did not accept my statement from Wise at first, than they accepted it, but the support replied that they cannot accept the document (effectively after they accept it).

Well. It should not happen ... but it can happen (it is not the ugliest issue).

So I would not recommend that thing.

Well, I am neither promoting nor advocating for Nebeus, I have no personal experience with them; I only made some personal research after @JohnnyDoe pointed at them in another thread and at this moment (taking into account your experience) I would rather say: stay tuned.
(BTW, Modulr Payments that is backing them for fiat payments operation is the company that is backing also Revolut /or at least, was backing two years ago/, as I found. I do not like Revolut at all; but I must admit that their scale of payment operations is really huge, so being able to back them means something.)

I applied to Moneycorp bus still have not received any reply from them. Will be in touch with them.

Keep us posted. I wonder, how fast Moneycorp processes applications nowadays.