LeuPay Rejecting Legal, Transparent Businesses

Discussion in 'Offshore Bank Accounts & EMI Accounts' started by rowena, Jul 13, 2018.

  1. rowena

    rowena Active Member

    I applied for LeuPay business account for my company which is UAE based company. I sent them all required documents and business plan also I completed video verification but today they wrote this:

    Dear Sirs,

    By this e-mail we inform you on the immediate suspension of the LeuPay Service and termination of the Agreement due to compliance reasons.

    Please be advised that your LeuPay Business account is terminated.​

    My business is very simple, legal and crystal clear(All documents and structure are legal and real). I make mobile applications for Apple App Store and Apple making payments from directly their official bank accounts. I only work with Apple. This business clean and legal also my source of money is the world biggest and most reputable company!

    This is completely ridiculous. They rejected %100 legal and transparent business. I think LeuPay is dangerous company and don't use it for big amounts.

    P.S.: I also applied for Transferwise Business account and they opened my account in 5 days...
    blizz likes this.
  2. blockchain4ever

    blockchain4ever Active Member

    But they rejected doing business with you, they didn't freeze any existing assets. How is that dangerous?
  3. rowena

    rowena Active Member

    They simply refusing legal business without giving proper answer. It is a risky company to work with in my opinion.
  4. John Spectre

    John Spectre Building Trust Entrepreneur

    It's a not related to the LeuPay, but why you need them if you can use local UAE bank for this purpose?
  5. rowena

    rowena Active Member

    UAE local banks don't open a bank account for local offshore companies if you don't have a residency visa.
  6. rowena

    rowena Active Member

    Update: Paysera also accepted my application today. LeuPay creating problem without giving a reason...
  7. KraftyAndy

    KraftyAndy Active Member

    Why do you expect them to give a reason which would mean providing information about their internal procedures?
  8. blizz

    blizz Trusted Member Mentor Group Business Angel

    Leupay so real banks have no obligations to give any reason for why they reject a business or private person! Your business looked shady to them and that's why they rejected it.
  9. Old Spice

    Old Spice Member

    My guess is it's better they rejected you before accepting any funds that might have been frozen after the fact. I'm more worried about banks that accept you as a client and then 3 months later start changing their payments policies to continue with you as a client. i.e. go from 0 to 100 Euros a month in maintenance fees or something similar. Which situation would you prefer?
    David97255 likes this.
  10. NewMorty

    NewMorty Active Member

    How has Paysera been working for you?
  11. rowena

    rowena Active Member

    Not correct. My business is crystal clear and %100 legitimate also have same business relationship with Payoneer since 4 years. I have only one money source and it is the world most reputable and biggest company in the world(Apple Inc) and of course Apple Inc is not doing shady business.

    Working with no issues also I am working with TransferWise and again no issues.
  12. lookingforward

    lookingforward Building Trust Entrepreneur

    Had almost zero problems with LeuPay yet, was quite sad as they changed their ibans to Bulgarian from Maltese, had some of my money stolen from my account once, they were slow, but i got them back, their support is doing good job as well now. Using both personal and business accs there
  13. K12AN

    K12AN Active Member

    This is not a rejection of your business. They have stopped accepting all applications in uae as well as many other countries now.
    Very sad, as they were the best solution for me.
    What did you do? Who did you move to?
  14. rowena

    rowena Active Member

    I am using paysera and tw without issues. Which countries are still available for LeuPay business ?
  15. Martin Everson

    Martin Everson Offshore Consultant Business Angel

  16. K12AN

    K12AN Active Member

    Yes. They only support these countries now for both corporate and personal. Shame
  17. K12AN

    K12AN Active Member

    Does Paysera offer GBP accounts?
  18. Martin Everson

    Martin Everson Offshore Consultant Business Angel

    Ok good to know. Damn it is a shame but I understand that keeping banking relationships and their business running is more important.
  19. rowena

    rowena Active Member

    I warned before, they now started to suspend accounts because of compliance issues without giving notice. They closed thousands of customer accounts in one night and now you have to deal with customer service to recover your money.
  20. negon

    negon hannibal the cannibal Mentor Group Business Angel

    They were a bad choice from the very beginning but promoted here by people that simple don't know what they are doing! Anyway, if you have all supporting documents for your company and your person it should still be possible to get your funds released and move to another EMI provider.