Virtual Bank Account For UAE (RAKICC) Company

[OJ333]

Hello, I would like to ask those of you who have experience to point me to a good virtual bank account (think Transferwise borderless before they closed down for UAE) for a company registered in the RAKICC register from UAE (it's address is in Dubai).

So far, I have experience with:
- Transferwise - great before they closed the borderless account (though they ask too many questions and request documents that literally do not exist)
- Payoneer - works, but very limited functionality - account can't be debited, you can't receive transfers from yourself, very high fees for transfering to normal bank accounts
- Bankera - they want 450 eur just to review my information. It's not that I don't have the money, but it's a big no no.
- DSBC - 100 euros a month. I have only chatted, but have not applied yet.
- Airwallex - answered "they can't support the business" without further explanations.
- Denarii - they didn't even have a working website and customer service email

I am looking for something that can receive payment processor payments (as I am in ecommerce), that can ideally receive funds from my self / load the account with ACH and send the money to normal bank accounts around the world (I have 13 employees in the PH I need to pay).

Thank you in advance for your help.

 

[Gediminas]

Hey,

- Bankera - they want 450 eur just to review my information. It's not that I don't have the money, but it's a big no no.

I could help you with the account onboarding either to Bankera or somewhere else. I would do a pre-approval prior we start registration.

450 EUR for the application is pretty low actually. This fee is for the compliance work. Some other financial institutions, for example, Xace, charge around 2000 EUR for that.

Your goal is to find a reliable financial institution with competitive pricing for transactions and maintenance. I don't believe you will find anything better than Bankera.

In case you decide to ping me, you will find my email by clicking on my signature banner.

 

[Fred]

Currenxie

They provide you exactly with what you are looking for and supporting E-Commerce.

You didn't disclose which kind of E-Commerce - if it's low-/medium-risk they will onboard you.

Alternative is 3s.money - they have local Dubai operation and targeting everything starting from 1m+ yearly turnover.

 

[OJ333]

Currenxie

They provide you exactly with what you are looking for and supporting E-Commerce.

You didn't disclose which kind of E-Commerce - if it's low-/medium-risk they will onboard you.

Alternative is 3s.money - they have local Dubai operation and targeting everything starting from 1m+ yearly turnover.

Thank you for the advice. It is very low risk ecommerce - normal every day stuff people buy (not supplements, weapons etc)