Feedback on wittix.com

[yngmind]

Any feedback on wittix.com EMI.
It's like Wise they offer personal and business accounts.

 

[EliasIT]

Thanks for pointing in the direction of this EMI, I will try to apply for an account with them.

 

[DerAufklaerer]

Wittix is licensed and regulated by the Supervision Service Department of the Central Bank of Lithuania and is granted Electronic Money Institution (EMI) licence No. 48, with a payment system participant code No. 33000, and conducts business under the laws of the Republic of Lithuania.

So i thnk it will reported likely ZEN

 

[yngmind]

Please check their AUP before applying -

https://wittix.com/acceptable-use-policy

Lots of countries are not accepted, including the UAE.

I have read some reviews on their Trustpilot page regarding the corporate account, and it's not nice.

 

[EliasIT]

I have read some reviews on their Trustpilot page regarding the corporate account, and it's not nice.

really you consider Trustpilot to be trustworthy when it comes to services like this ?

 

[yngmind]

really you consider Trustpilot to be trustworthy when it comes to services like this ?

Seems like a legit review, though.

So, to get the corporate account, you need to pay a fee for the account opening and provide a lot of documents.

 

[Forester]

Wittix is licensed and regulated by the Supervision Service Department of the Central Bank of Lithuania and is granted Electronic Money Institution (EMI) licence No. 48, with a payment system participant code No. 33000, and conducts business under the laws of the Republic of Lithuania.

So i thnk it will reported likely ZEN

For sure; and what's the problem?
(Be advised that you will be reported sooner or later by any institution from some AEOI/CRS country.)

really you consider Trustpilot to be trustworthy when it comes to services like this ?

Seems like a legit review, though.

Well, the validity and reliability of Trustpilot reviews is really close to zero in many cases. Keep in mind that these reviews are (mostly/very frequently) made by biased people who, in addition, lack the knowledge at the field of financial services.

So, to get the corporate account, you need to pay a fee for the account opening and provide a lot of documents.

It's not exceptional with LT EMIs.
Yet in general, as of the latest actions of the LT regulator, it is better to look elsewhere, I am afraid.

 

[EliasIT]

Well, the validity and reliability of Trustpilot reviews is really close to zero in many cases. Keep in mind that these reviews are (mostly/very frequently) made by biased people who, in addition, lack the knowledge at the field of financial services.

Well said, trust pilot in the financial industry is most often worthless.

 

[EliasIT]

So i thnk it will reported likely ZEN

Reporting is not the problem for my current business, to find reliable EMI's is the problem.

 

[yngmind]

Reporting is not the problem for my current business, to find reliable EMI's is the problem.

Did you open an account with them?

 

[Lincoln Burrows]

They're very expensive even for first-tier personal/business accounts, which are supposedly low-risk; they charge "€5 + 0.15%" for every sent/received transaction. Both a static fee and a percentage is criminal!

They also don't support SEPA Instant like most of the crappy EU banks/EMIs, so if someone sent you a payment Friday night, you'll get it Monday morning (hopefully).

 

[JohnnyDoe]

Crypto friendly?

 

[Lincoln Burrows]

Crypto friendly?

No.

You cannot open or hold a Wittix account if you carry out any sort of business or activity that relates to the following*:

• Crypto Exchanges/Initial Coin Offering (ICO);

 

[JohnnyDoe]

No.

This means that you can’t run a crypto exchange business or an ico through them, not that they are against crypto.

 

[Lincoln Burrows]

This means that you can’t run a crypto exchange business or an ico through them, not that they are against crypto.

any sort of business or activity that relates to the following*:

 

[JohnnyDoe]

any sort of business or activity that relates to the following*:

I don’t run an crypto exchange or launch icos. I want to know if I can process through wittix fiat that originates from legitimate crypto transactions and come from regulated exchanges or the other way around.

 

[Lincoln Burrows]

I don’t run an crypto exchange or launch icons. I want to know if I can process through wittix fiat that originates from legitimate crypto transactions and come from regulated exchanges or the other way around.

 

[JohnnyDoe]

View attachment 8234

Thank you. Therefore, they suck.

 

[cryptotree]

I have tried to send crypto there from an exchange and they didn’t allow it (about 1.5 years ago)

 

[Jeanvaljean]

Yes they really suck !!! I’ve opened with them, as soon as the first wire landed , my account under review asking thousands of irrelevant questions