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reliable Bank or EMI for British LTD with physical goods movements

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AlexCustoms

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Sep 16, 2022
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Ukraine
#1
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Greetings to all!

I have read the entire section, but I couldn't find any topic where someone was looking for options to open an account to support similar operations. Therefore, I allow myself to post another topic.

I need to replace WISE. I am exploring options for opening a Bank (or EMI) account for a British LTD (with a director and beneficiary who is a citizen of Poland). I kindly request advice if anyone is familiar with similar matters.

Structure of incoming payments:
Currency: USD,
Countries sending funds: Hungary, Poland, Ukraine,Senders of funds: Commercial entities,Ukraine pays for Equipment and Transport, Poland and Hungary pay for Agricultural Products.

Currency: EUR,
Poland and Hungary pay for Agricultural Products.

Structure of outgoing payments:
Currency: USD,Recipient countries:
USA, Georgia, Ukraine,Recipients of funds: Commercial Entities,In the USA – funds received for equipment and transport (mainly from auctions), as well as for logistics (within the USA and oceanic freight),In Georgia – for port operations and logistics,Ukraine – receives funds for Agricultural Products.

Total turnover is approximately $500,000 - $900,000 monthly. Average payment size is $14,000.

I need a flexible BANK or EMI, with the main condition being that problems are resolved quickly and the service isn't expensive. It's also crucial for payments to reach the USA as quickly as possible. Support for Documentary Letters of Credit and Collections would be advantageous. I understand that currently, banks and most EMIs are cautious about transactions involving Ukraine, but I need to find someone who is accommodating.

I would be very grateful for advice and also if any participants are able to offer their services.

Wishing everyone success!
 
#3
Zen is good. It's a Polish/Lithuanian company, so they may be more skilled in handling Ukraine-facing businesses than many others. However, for other currencies than EUR and for SWIFT, they use correspondent banks, whose risk appetites are not quite as high as Zen itself.

In your case, I think they're worth having a conversation with.
 
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#6
Raiffeisen Bank would normally be a good fit for you, but they have tightened controls so much it's almost impossible to get in. Might still be worth reaching out to them, and maybe OTP and Erste Bank.

Most EMIs on the market do not have access to USD and those that do generally have a low risk appetite.

3s.Money might be worth having a chat with, though.
 
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#10
Please let us know the outcome of this account researching.
 
#12
Any exp with Zen Uab for crypto company guys?Just saw some reviews on trust about frozing accounts and money,we have a crypto exchange company with 4m eur traffic per month,We are looking to add new accounts for operation.
 
#14
SeeNoevil said:
Any exp with Zen Uab for crypto company guys?Just saw some reviews on trust about frozing accounts and money,we have a crypto exchange company with 4m eur traffic per month,We are looking to add new accounts for operation.
Click to expand...
Try swissmoney (LT IBAN), its a bit expensive but its good. If you have some good history go for clear junction (GB IBAN). Recently onboarded some clients to SH Payments (LT IBANS for C2B), got good feedback.
 
#15
AlexCustoms said:
Yep , i will . i`ve made a couple applications for several banks also EMIs , allready got rejections allready from Airwallex,Mercury and Metro bank.
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Has anyone here had a successful experience with Airwallex? Was trying them few times (with one Hungarian company and few times with UK Ltd) but had rejections every time.

Regarding your question: have you tried Paysera, Wittix, Vialet, Verifo?

AlexCustoms said:
Yep , i will . i`ve made a couple applications for several banks also EMIs , allready got rejections allready from Airwallex,Mercury and Metro bank.
Click to expand...
Is there any news about how your process is going?
 
#17
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