eWallet solution for a South African company

lrotter · Jun 7, 2019

Hello!

Maybe you could advise.
We need an EMI solution for a South African company, Business activity of the company is giving call center services to offshore company’s that hold forex brands.

Would be very grateful for your recommendations.
Thanks.

Bmw850 · Jun 7, 2019

You can find here a thread where most of the known Emi's are compiled, you just have to check directly with them if they accept your juridiction.

List of Banks, EMI's, Payment processors and BTC to FIAT institutions.

I compiled a list of these providers by going through almost any post here on the forum where people ask for bank advise or advise in matters of payment processors EMI's and BTC to FIAT exchanges. For those of you who do not know what an EMI is or what it stands for, here is an explanation. An...

www.offshorecorptalk.com

Allow me to give you a little tip, don't tell this activity to the Emi you will choose for account opening, call center + forex are red alerts for Emi'S and banks

lrotter · Jun 7, 2019

Bmw850 said:
You can find here a thread where most of the known Emi's are compiled, you just have to check directly with them if they accept your juridiction.

List of Banks, EMI's, Payment processors and BTC to FIAT institutions.

I compiled a list of these providers by going through almost any post here on the forum where people ask for bank advise or advise in matters of payment processors EMI's and BTC to FIAT exchanges. For those of you who do not know what an EMI is or what it stands for, here is an explanation. An...

www.offshorecorptalk.com

Allow me to give you a little tip, don't tell this activity to the Emi you will choose for account opening, call center + forex are red alerts for Emi'S and banks

Thank you for a quick reply and a tip.
We tried a lot of EMIs from this list, but was declined.
If so, could you please advise, what is the best way to represent such company to EMIs?

Martin Everson · Jun 9, 2019

lrotter said:
We tried a lot of EMIs from this list, but was declined.

Why were you declined firstly? Was it because your clients are offshore forex companies? Are they licensed and regulated.

You may perhaps consider omitting any mention of Forex if you can.

lrotter · Jun 10, 2019

In our case they (forex) are not licensed.
Okay, I understand that no details about it shall we disclose to EMI, but we checked most of pisted in the EMI lists here and still no one is will ing to deal with SA.
So any good experiences from members here to open account for SA call center?

Martin Everson · Jun 10, 2019

You want a EMI account for a South African business receiving funds from an unlicensed forex broker and you hope to get an account?

Open a bank account with the same bank the unlicensed forex broker uses ca#"!

. Or perhaps erabanq.com.

Sols · Jun 10, 2019

It's not just that you're South African. You can probably find lots of EMIs which work with South African businesses as it's not a blocked country and usually considered reasonably safe. So while that is a bit of a drawback (limits your choices), it's your involvement/association with unlicensed forex that really nails the coffin shut.

You can try one of the dodgier EMIs/PIs like MoneyPolo, MoneyNetInt, or Payment-Execution. If not even they will take you, you're probably out of luck.

Martin Everson · Jun 10, 2019

Sols said:
You can try one of the dodgier EMIs/PIs like MoneyPolo, MoneyNetInt, or Payment-Execution.

Moneypolo died ages ago it was a Russian laundromat naturally operated by Sergey Mayzus. The U.S struck again over services it offered Btc-e exchange

.

Sols · Jun 10, 2019

Martin Everson said:
Moneypolo died ages ago it was a Russian laundromat naturally operated by Sergey Mayzus. The U.S struck again over services it offered Btc-e exchange .

I see... That explains a couple of email threads from a few months ago.

Martin Everson · Jun 10, 2019

I keep telling people stay away from all Russian owned EMI's and that includes Revolut. The below formulae can be scientifically proven over and over and over again

EMI + Russian = Laundromat

Sols · Jun 10, 2019

Unlicensed forex operators don't have a lot of choice. They just have to hope they're quick enough to jump ship before it sinks. One of many reasons acquirers are throwing them all out.

The business described here isn't a traditional call center. They're calling customers up and convincing them to deposit money through deceptive and misleading marketing. Then the forex broker shuts down as the chargebacks start coming in.

I don't see OP having much luck getting an EMI account with anyone other than a laundromat looking for some "clean" volume to pad the money laundering.

daxbr · Jun 10, 2019

Martin Everson said:
(...)

Open a bank account with the same bank the unlicensed forex broker uses . Or perhaps erabanq.com.

I can hear already the conversation you can have when you call them for this information:

"Hello Mr. unlicensed forex broker, could you tell me where you are banking? I am not asking to blackmail you next time we have trading error dispute to close your outfit down in seconds, I am only asking to make your life easier when you give me my money back."

Martin Everson · Jun 11, 2019

Sols said:
The business described here isn't a traditional call center. They're calling customers up and convincing them to deposit money through deceptive and misleading marketing. Then the forex broker shuts down as the chargebacks start coming in.

Makes sense now....his running a boiler room operation for offshore unlicensed fx business

.

Sols said:
I don't see OP having much luck getting an EMI account with anyone other than a laundromat looking for some "clean" volume to pad the money laundering.

That's pretty much the truth - for even satabank

TurnedToRobot · Jun 12, 2019

OP you will not find what you are looking for. Your operation is unlicensed and for that reason you will have to work around a lot to find anything. It's going to be very time consuming and costly.

JackieTsan · Apr 30, 2020

Martin Everson said:
I keep telling people stay away from all Russian owned EMI's and that includes Revolut. The below formulae can be scientifically proven over and over and over again

EMI + Russian = Laundromat

You're always so right man... You're the best really.. so right

JackieTsan · Apr 30, 2020

Martin Everson said:
You want a EMI account for a South African business receiving funds from an unlicensed forex broker and you hope to get an account?

Open a bank account with the same bank the unlicensed forex broker uses . Or perhaps erabanq.com.

@Martin Everson is this erabanq safe to look about their services?

Thank you

JohnLocke · Apr 30, 2020

macthaiver said:
is this erabanq safe to look about their services?

You want to check some of the threads here that may give you a good inside:

JackieTsan · Apr 30, 2020

Yes I will do check now. Many thanks @Admin

JackieTsan · Apr 30, 2020

Thanks @Admin I had a quick look. I see even @Martin Everson suggests them twice; that means they are ok.

Or I understand wrong? Thank you once again

Martin Everson · Apr 30, 2020

macthaiver said:
Thanks @Admin I had a quick look. I see even @Martin Everson suggests them twice; that means they are ok.

Or I understand wrong? Thank you once again

I have never used them. Perhaps speak to Erabanq directly they are on this forum.

@Erabanq

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