Revolut and/or Transferwise

Liberation Project

Mentor Group
Mentor Group
I am currently in the process of forming my Seychelles corp with EMI thanks to a provider on the forum (will be more than happy to share results once complete), however I am concerned with what I have been reading on the forum regarding these EMI's. My goal was to begin transferring into TW usd account, but now I'm afraid of having the account locked or requests for more info (obviously, I want privacy).

Can anyone share their experience as to which of the two (REV/TW) is better and/or any issues you may have had with receiving usd deposits and making withdraws? The TW account will be with Seychelles corp info ... hopefully that helps my situation?

Any feedback is appreciated and I happy to have found this forum ... also anxiously waiting on my payment to post for access to the mentor group!

Thanks
 

Larry

Banned User
BANNED MEMBER
Entrepreneur
I am currently in the process of forming my Seychelles corp with EMI thanks to a provider on the forum (will be more than happy to share results once complete), however I am concerned with what I have been reading on the forum regarding these EMI's. My goal was to begin transferring into TW usd account, but now I'm afraid of having the account locked or requests for more info (obviously, I want privacy).

Can anyone share their experience as to which of the two (REV/TW) is better and/or any issues you may have had with receiving usd deposits and making withdraws? The TW account will be with Seychelles corp info ... hopefully that helps my situation?

Any feedback is appreciated and I happy to have found this forum ... also anxiously waiting on my payment to post for access to the mentor group!

Thanks
Transferwise is a very good choice for your Seychelles company. With TransferWise it's the fact that as more offshore your company is domiciled as more questions they will be ask. See this everyday a UK company is verified with 1 business day a Seychelles company can take 3-4 weeks depends on how many questions they ask. Same when first transfers come in. But if you warm up the account and have patience with supporting documents everything should be fine.
Revolut don't accept offshore company. Your best alternative to TransferWise should be ePayments. They also accept offshore company. Your last choice should be Paxumbank they also accept offshore and adult business.
 

Admin

Forum Moderator
Staff member
also anxiously waiting on my payment to post for access to the mentor group!
You have access to the mentor group forums already ;) Thanks for your support.

Just make sure you will have invoices for all your transactions made to and from the account. They start behaving like many of the banks around for very good reasons. It may be true that you "warm up" the accounts slowly and that it can help your situation. That said, I would not relay on this part. If they get audited at any time they will request for more information right away, "warm up or not" they will demand you to provide additional information about owners, transactions etc.

There is really no way to avoid it or stuff you can do to avoid it. Maybe the first few months but sooner or later they will hit you with requests and specially if you start pushing large transactions thru the account.
 

Jay101

Active Member
I think in current climates everyone with business accounts with any EMI should have at least invoice templates ready on hand , so when , not if , they send you more info request you will be prepared at least , my two cents by reading recent posts

wait for more experienced knowledgeable pros to comment to hear their views I am a total newbie lol
 

darkster

Trusted Member
Business Angel
Mentor Group
Commercial Service
Can anyone share their experience as to which of the two (REV/TW) is better and/or any issues you may have had with receiving usd deposits and making withdraws? The TW account will be with Seychelles corp info ... hopefully that helps my situation?
Transfer Wise is absolut the best out of these two. Revolut is more like an Easy to Go provider which has been working stable and has turned into a bank as I understand from other posts. When an EMI becomes a bank things change to nothing good!!
 

darkster

Trusted Member
Business Angel
Mentor Group
Commercial Service

Martin Everson

Offshore Consultant
Business Angel
My goal was to begin transferring into TW usd account, but now I'm afraid of having the account locked or requests for more info (obviously, I want privacy).
If your using a classic offshore company with Transferwise then your living on borrowed time. Transacting in USD will only bring about the inevitable but much quicker. Their USD offering is already very restrictive.
 

Liberation Project

Mentor Group
Mentor Group
If your using a classic offshore company with Transferwise then your living on borrowed time. Transacting in USD will only bring about the inevitable but much quicker. Their USD offering is already very restrictive.
Would you say that it is better to open a UK company with darks instead and use these two EMI's with that in order to be further under the radar?
 

Martin Everson

Offshore Consultant
Business Angel
Would you say that it is better to open a UK company with darks instead and use these two EMI's with that in order to be further under the radar?
Darks and UK company and then transact in USD? eek¤%&. Do you know the type of years the US gives out for employing false representation in electronic payments aka wire fraud. You are effectively trying to obtain a service (US Fed cleared wire transfers) by false representation. Any time you transact in USD it goes via the Fed Bank in New York. You give over jurisdiction in your affairs to the US Federal government with each USD wire. Let that sink in along with the over 90% convicton rate they have...lol.

P.S I am not a legal expert but just find it funny that people don't understand to stay away from USD and that TW has your best interest at heart if they don't offer you it on your business account.
 

Liberation Project

Mentor Group
Mentor Group
Darks and UK company and then transact in USD? eek¤%&. Do you know the type of years the US gives out for employing false representation in electronic payments aka wire fraud. You are effectively trying to obtain a service (US Fed cleared wire transfers) by false representation. Any time you transact in USD it goes via the Fed Bank in New York. You give over jurisdiction in your affairs to the US Federal government with each USD wire. Let that sink in along with the over 90% convicton rate they have...lol.

P.S I am not a legal expert but just find it funny that people don't understand to stay away from USD and that TW has your best interest at heart if they don't offer you it on your business account.
Thank you for the advice. I've been racking my brain trying to establish a way to get USD out ... someone recently recommended starting a "crypto investment corp" with an exchange, but then I read about all of the banks and EMI's that want nothing to do with crypto activity for withdraws ... is that still the case?
 

Martin Everson

Offshore Consultant
Business Angel
someone recently recommended starting a "crypto investment corp" with an exchange, but then I read about all of the banks and EMI's that want nothing to do with crypto activity for withdraws
Wait a minute...."Crypto"!!!!!!! First I heard of this. Thats hopefully not the source of funds you want to pass via TW via a Seychelles company????
 
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