"Lianlian Global" EMI that works with the biggest banks?

[Commodus]

Hi guys! I have been using lianlianglobal for small transactions ($5-$10k) with my US LLC for over a year now without problems.

I would like to use them for more and larger transactions but it seems like nobody knows about them, so that makes me hesitant.

Them seem to be a Chinese company that works with Citi, Deutche Bank and J.P Morgan.

I'm wondering if someone has any experience with them, if so, is it positive or negative?

 

[Sols]

I have no experience with time, in part because I only work with financial institutions that are transparent about their licensing and regulatory standing. I would strongly advice anyone to be extremely cautious. Unlicensed or poorly regulated financial institutions can take your money and run, leaving you with zero recourse.

If you think Revolut closing your business account was bad, wait until an unlicensed FI disappears with your money.

Them seem to be a Chinese company that works with Citi, Deutche Bank and J.P Morgan.

They certainly claim to be working with those banks. However, is there any proof at all backing this up? Since you are using them, which banks are the payments being routed through?

 

[Commodus]

Since you are using them, which banks are the payments being routed through?

I only use them for EUR and USD. Both are under Citibank.

This is there licence page: Licenses

 

[Sols]

I only use them for EUR and USD. Both are under Citibank

Interesting, thanks for sharing. That makes it look a little better.

Is it an account in the name of Lianlian Global or an account in your name? When you get money out, is it coming from the same account or another account? In which country is the Citibank?

This is there licence page: Licenses

Thanks! Not sure how I missed that before. I must've not scrolled all the way to the bottom or something.

My concerns about them being unlicensed can be disregarded.

 

[Commodus]

Is it an account in the name of Lianlian Global or an account in your name? When you get money out, is it coming from the same account or another account? In which country is the Citibank?

USD account is under Citibank N.A. (United States)
EUR account is under CITIBANK EUROPE PLC (France)

Transfer confirmation states this:

*Note: The actual payer name that appears on your bank statement would
be LianLian Global's affiliate companies, subject to our internal settlement
arrangement

 

[tomboy]

Interesting, never heard of them and no one in the forum ever mentioned them.
How did you find them ?
How is their process ? do they have a platform where you can see incoming money and can do FX on your own and re-wire the money? or is it all by e-mail with an account manager ?

 

[Commodus]

How did you find them ?

My accountant told me last year when they just started their global EMI to take a look at it.

How is their process ?

I remember you get a rep on signup who helps you through the process. Within 2-3 days i was approved. Its the same simple process as any other EMI.

do they have a platform where you can see incoming money and can do FX on your own and re-wire the money? or is it all by e-mail with an account manager ?

Yes they have a very simple platform. Total balance, send, receive, and transaction history tabs. Everything you need