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

Mark Rucken

Trusted Member
Business Angel
Is this only for verification purposes and after that you can receive money from others / PayPal or as I understand all topups from now on need to be done from the business bank account..
As if it's only for verification then it's not that big of a deal..
It is just for the first payment, later you can receive funds from anyone. It is a big deail if you can not open account in another EMI for let's say Seychelles company as number of EMIs opening accounts for Seychelles companies is very limited.
 

Martin Everson

HNWI Offshore Consultant
Business Angel
Mentor Group
I think they did this to filter clients and accept less risky customers. If someone already opened you account, surely they did their KYC, so then that is a sign for TW they can onboard you as well.
Yes I agree and I forget the technical name for this method of additional KYC conf/(%.

However if its true it makes TW useless for startups. Imagine every EMI/bank in EU asked for this. No startups would be able to open accounts in EU without first opening an account somewhere outside EU....lol.
 

Imish

New Member
Hello all,

I'm new to the forum, my first post here ;)

So, if you make a topup to your business account, the money needs to come from a bank account registered in your business' name. If the topup is going on your personal profile, the money has to come from your personal bank account.
I have just opened a business account with TW a few days ago, and i do not understand why you find this to be an issue. As explained in their reply, you only need to verify your account with this transfer for one of your accounts (either personal or business), minimum transfer 20 EUR by sepa transfer or card top-up. If you do not have a business bank account yet, just verify your personal account.
I personally did it with card top-up, it wasn't even in the name of the account holder. And verification completed successfully.

This may be an issue only for people without a bank account or even a debit card, but not to this point:

That's really a shitty situation you got into there. I wonder what people are doing and how many customers they will lose on that part.
However, i agree that TW is a shitty EMI and does not deserve to be valued as such they are on this forum. I will tell my story with them in a new thread as soon as i have time.
 

Mark Rucken

Trusted Member
Business Angel
Hello all,

I'm new to the forum, my first post here ;)



I have just opened a business account with TW a few days ago, and i do not understand why you find this to be an issue. As explained in their reply, you only need to verify your account with this transfer for one of your accounts (either personal or business), minimum transfer 20 EUR by sepa transfer or card top-up. If you do not have a business bank account yet, just verify your personal account.
I personally did it with card top-up, it wasn't even in the name of the account holder. And verification completed successfully.

This may be an issue only for people without a bank account or even a debit card, but not to this point:



However, i agree that TW is a shitty EMI and does not deserve to be valued as such they are on this forum. I will tell my story with them in a new thread as soon as i have time.
Either you or me did not understand them correctly. I understood that in case you are opening private account, you have to fund the account from your private account held with another bank. In case you are opening business account, you have to fund your business TW account from business account. Their reply was very clear, I am quoting it below:

So, if you make a topup to your business account, the money needs to come from a bank account registered in your business' name. If the topup is going on your personal profile, the money has to come from your personal bank account.

There is unfortunately no way around this. If you don't have a bank account for your business, then we sadly can't accept a payment made into your business account, funded from your personal account. We hope you understand.


It is possible that you only verified private account with TW and that business account is not verified and you will find that out only after you try making/receiving first payment. I am gonna write them again for clarification.

Please let me know once you manage to activate and use business TW by just funding private TW account funded by your private account in another bank.
 

Imish

New Member
It is possible that you only verified private account with TW and that business account is not verified and you will find that out only after you try making/receiving first payment. I am gonna write them again for clarification.

Please let me know once you manage to activate and use business TW by just funding private TW account funded by your private account in another bank.
You only need to verify an account, either personal or business, the other one will also be verified. For my case i added 20 EUR with debit card to my personal account. And both accounts got verified. TW is the first business account i had and did not need to send any funds to it from another business account to get it verified. I'm using it regularly now without issue.
 

Mark Rucken

Trusted Member
Business Angel
You only need to verify an account, either personal or business, the other one will also be verified. For my case i added 20 EUR with debit card to my personal account. And both accounts got verified. TW is the first business account i had and did not need to send any funds to it from another business account to get it verified. I'm using it regularly now without issue.
Thanks, hopefully it will work out for me as well!
 

moneynetwork

Corporate Services
Business Angel
Mentor Group
Commercial Service
Are there any new EMI's we can add to this list you think? Wonder what the latest diamond is in the row.
 

happyjohn

Corporate Services
Business Angel
Entrepreneur
Mentor Group
We should add neat.com to the initial post of this thread its a widely used EMI / bank that people find useful.
 

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