I run a luxury watch and jewellery business and i'm looking for banks, emi, that support this industry. Specifically, i'm interested in services that are easily accessible from europe and offer practical solutions for high value transactions. (except Wise and Revolut) Any recommendations or experiences you can share would be grealty appreciated. Thank you!
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EU Friendly EMI - Banks for Luxury Watch - jewellery Business
- Thread starter videoGuy
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Really depends on where you're based.
In general I would avoid EMIs if possible for a business like this. I assume you will have a lot of buying / selling from / to privat persons and therefore a lot of "bigger transactions" to various individuals. (Depending on what kind of watchers you're selling and buying obv.).For most compliance monkeys this will look pretty suspicious, get's even worse when you have bigger cash deposit / withdrawals. (good luck explaining that via support chat)
I would go for a local bank and maybe add an EMI account as backup / alternative if you want to save on payments fees for international business maybe.
In general I would avoid EMIs if possible for a business like this. I assume you will have a lot of buying / selling from / to privat persons and therefore a lot of "bigger transactions" to various individuals. (Depending on what kind of watchers you're selling and buying obv.).For most compliance monkeys this will look pretty suspicious, get's even worse when you have bigger cash deposit / withdrawals. (good luck explaining that via support chat)
I would go for a local bank and maybe add an EMI account as backup / alternative if you want to save on payments fees for international business maybe.
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