How is Currenxie now and do it works with Wise?

[mytoofood]

I must say you understand how to make people nervous about banks and EMI's - I read the thread about Wise and that they are closing accounts in an instant. Now, I would like to spread my 300K euros so that it's not all just with Wise, but rather distributed across 3 - 4 EMI's - I already have a Currenxie account. Are they still reliable or can one transfer money from Wise to Currenxie, are there any problems with that?

 

[Clank]

Currenxie is reliable for large amounts, I use them frequently.

 

[mytoofood]

also for EU accounts ? inside EU transfers ?

 

[viudes]

I use Currenxie recommend,

 

[churumbelo]

also for EU accounts ? inside EU transfers ?

They do not open EU or UK accounts unless that you can provide first a bank statement from a real bank. Only accounts in HK. So unless you could open a bank account with a licensed bank first, you won't get a EU bank account with them.

 

[Forester]

I already have a Currenxie account. Are they still reliable or can one transfer money from Wise to Currenxie, are there any problems with that?

Currenxie is reliable but about Wise-Currenxie transfer I cannot say anything (except I do not expect any problem at the Currenxie side).

I use Currenxie recommend,

I second that.

They do not open EU or UK accounts unless that you can provide first a bank statement from a real bank. Only accounts in HK. So unless you could open a bank account with a licensed bank first, you won't get a EU bank account with them.

Can't say about EU or UK accounts but local US accounts they open without showing a bank account with a licensed bank. But beware, from my experience, EU accounts cannot be opened for EU located companies.

 

[Marzio]

Be aware that they don't accept companies that are registered in the United States so US LLCs are out of luck with Currenxie.

 

[Clank]

Be aware that they don't accept companies that are registered in the United States so US LLCs are out of luck with Currenxie.

For US LLC I have always used Airwallex which is a good alternative to Currenxie

 

[JohnLocke]

I've had an account in one of my companies with them for almost a year now. But I must say I haven't dared to transfer any money to them yet. Everything seems so messy and a bit amateurish compared to Revolut and Wise.

Therefore, it all may well be fine, and it seems that people are happy to use them, but I just have a really bad impression of their user interface.

 

[Forester]

I've had an account in one of my companies with them for almost a year now. But I must say I haven't dared to transfer any money to them yet. Everything seems so messy and a bit amateurish compared to Revolut and Wise.

Therefore, it all may well be fine, and it seems that people are happy to use them, but I just have a really bad impression of their user interface.

Well, I've never seen the UI of Revolut, I must say; and I saw the UI of Wise for the last time ~2 years ago, so I happily almost do not remember it (but it was not anything extraordinary, IIRC) => I am perfectly happy with Currenxie
Seriously – what I evaluate highly at Currenxie is their phone support. If you communicate with some clerk by e-mail, there is always a phone number in the signature and you can directly call this guy, if you think that it helps. It's quite extraordinary, IMO. From what I recall, Wise has phone support, too – but just a generic line; and many EMIs (I guess that the majority) do not offer phone support at all...

 

[JohnLocke]

Thanks for your opinion @Forester

May I ask how long you have been using them and how large amounts you are processing through them? Do you also leave money with them, or do you only use them as a flow-through service?

 

[Forester]

Thanks for your opinion @Forester

You are welcome

May I ask how long you have been using them

For ~ 2 years...

and how large amounts you are processing through them?

4-5 figures transactions routinely...

Do you also leave money with them, or do you only use them as a flow-through service?

It is definitely not a “classical” flow-through. Some low 6 figures are permanently there, due to the nature of the business... (Feel free to PM me, if you need more details.)

 

[AutoKing]

I use Currenxie recommend,

DOES NOT allow US based companies

 

[brianK]

DOES NOT allow US based companies

Owned by US citizens or foreign owned US LLC neither?

 

[AutoKing]

Owned by US citizens or foreign owned US LLC neither?

all!
US LLC's either owned by non us citizens, or US citizens, both not accepted.

 

[mytoofood]

Are they still stable for European companies and private accounts?

 

[Forester]

Are they still stable for European companies

Yes, they are – TBMK.

and private accounts?

They do not offer private accounts. Just business ones.

 

[Propeller]

Do you still make a lot of transactions with them? I'm seriously considering opening an account, but after reading all this, I'm a bit unsure. If their UI isn't user-friendly or you have to do a lot manually to transfer money from A to B, then I'm not interested.

 

[Forester]

Do you still make a lot of transactions with them?

You are asking me, I presume
TBH, I would not say that I am making a lot of transactions there; I am not much in the business already, I consider myself more like a retiree . Yet some companies that I somehow monitor are using Currenxie routinely and I do not hear any complaints.

I'm seriously considering opening an account, but after reading all this, I'm a bit unsure. If their UI isn't user-friendly

On condition that nothing has changed in the last months, I personally consider their UI very good. Yet be advised I am an oldschool boy and my main criteria for a good UI are
– simple/easy to navigate;
– no bells and whistles;
– not resource-hungry.

or you have to do a lot manually to transfer money from A to B,

Not at all. If I recall well, Currenxie uses a concept of beneficiaries. I.e., if you want to send money to some subject, you must introduce them as a beneficiary – it means to enter their payment information to the system. After having a (new) beneficiary, you can send them some amount just by a few clicks.

then I'm not interested.

Well, you can also just try it and eventually let it be, there is neither account opening fee nor maintenance fee and the onboarding is not a nightmare, IMO.

 

[mytoofood]

Yes, they are – TBMK.

They do not offer private accounts. Just business ones.

Good to know, I have opened an account with them some time ago but never used it since there online banking looks amateur.