What's your experience with pervesk ?

[PlayHardGoPro]

And this probably shows it won't endup like with ePayments.

Depends.
Money laundering will exist in every EMI no matter how reputable or how many idiot questions they ask.
I have many EMI accounts open in the last 3 years, but Pervesk is strange, annoying, a lot of useless stuff asked over and over again and many stuff like this, i have never experienced anything at least similar with this.
I don`t know ( from my personal experience ) how reliable are they after you have an account with them, but in the end i don`t know if all of this worth for a simple EMI account, they make you quit your registration with them.
This is only my oppinion from my experience with them ( of course the account is not opened yet, still waiting )))) ).

 

[Gediminas]

I have many EMI accounts open in the last 3 years, but Pervesk is strange, annoying, a lot of useless stuff asked over and over again and many stuff like this, i have never experienced anything at least similar with this.

Regulation is going crazy, to avoid situations like in case of ePayments, you have to ask and check every possible question, so regulators could not say “why you haven't checked your client’s shoe’s size?” i.e. financial institutions have to know their clients better than themselves.

 

[Aten]

The point of an EMI is to avoid this kind of things and to become more accessible and faster. If fear from regulators points in this direction people will go to physical banks and not use EMIs at all. They should have a more straightforward sign up and application process. But even so, some people may find value in this kind of service. If they have their pool of clients and this is the kind of method for them to attract this clients than nothing wrong with them. But user friendliness is very important this days i think.

 

[John Spectre]

It's a clearly looking that mr @Gediminas shill pervesk too much.
it's a understandable that his point to make some money by introduce clients too service, but, please, don't start to said they are better that MT or epay.
Money launders will showed shoe's size to EMI and even urethral swabs for pass KYC and start to launders millions of $.
It's nothing to real small business people who want to start their process fast and without big, stupid bureaucracy.

BTW, They are already fined for AML year ago:

Lietuvos bankas

Mūsų misija – kurti naudą visuomenei siekiant patikimos finansų sistemos ir tvarios ekonomikos plėtros.

www.lb.lt

For the same reason as epay or MT.
So, someone still think they are better to other EMI despite having their strict KYC?

Future of pervesk the 100% same to other emi: fines, fines, temporal administationt from central bank, suspension of business with some time locking of user's money and finish. it's a only question of the time when it will be.

Everyone just need to build their business with EMI ina the way, when another emi-scrapyard coming to have problems, that it not affect business to much and lock not too much money.
Don't need to think that strict KYC, documents , high maintenance price or other s**t will help your business during EMI problems process or if you are select strict EMI it will be more protected comparing to their easy peasy competitors.

 

[Gediminas]

TW, They are already fined for AML year ago:

Lietuvos bankas

Mūsų misija – kurti naudą visuomenei siekiant patikimos finansų sistemos ir tvarios ekonomikos plėtros.

www.lb.lt

For the same reason as epay or MT.

If you are doing your due diligence, you shouldn't stop on the first result, because these articles follow:

Panaikino baudà „Bankeros“ ákûrëjui, bet LB nusileisti neþada

Vilniaus apygardos administracinis teismas treèiadiená priëmë sprendimà panaikinti Lietuvos banko bendrovei „Pervesk“, susijusiai su technologijø centru „Bankera“, skirtà 0,7 mln. Eur, o jos vadovui Vytautui Karalevièiui – 0,5 mln. Eur baudà. Taèiau Lietuvos bankas (LB) nusileisti neþada ir...

www.vz.lt

Teismas panaikino „Pervesk“ ir jos vadovui skirtas baudas

Bendrovei „Pervesk“ ir jos vadovui Vytautui Karalevičiui teisme pavyko panaikinti Lietuvos banko sprendimą, kuriuo už netinkamai klientų rizikingumo vertinimą įmonei buvo skirta 0,...

www.15min.lt

Which are saying that Pervesk stood for themselves and sued the Bank of Lithuania for unfair fine and they won the case, the fines were removed. So no, they are not the same as epay or MT.

I won't discuss any other of your arguments, because it won't matter anyway.

 

[Irration4l]

So what kind of documentation do they actually require? What stands out from the crap that all the other EMI's ask as well?

 

[Spinat]

I would like to see some customer reviews about this bank from reputable users here on the forum. I believe this is one of these Fly by Night banks. Today good tomorrow BAAAAANG!

 

[PlayHardGoPro]

Just my last personal oppinion, i wasn`t able to register with them, but avoid pervesk Patikimos elektroninių mokėjimų paslaugos | PERVESK pervesk.lt avoid, it is a waste of time and from my impression, they have a very bad customer support, in fact is the only EMI that wasn`t able to ask some proper questions for the on-boarding process. They are completely out from this reality.
Seriously, don`t ever mind to register with them. Think what incompetence they will be able to show up during your business activity, taking in consideration that they are not able to handle correct an on-boarding simple process. They even admit in the email that they was wrong and ask sorry about that ) Only imagine that, what this means, i think even the worst EMI that existed before didn`t do this. At least from my knowledge.

 

[Irration4l]

I understand your opinion is "they suck" but just out of curiosity what kind of questions do they ask that were so dumb? I mean give us the specifics

 

[clemens]

They are highly promoted by only one person here on the forum. I would stay away from them for the next 6 - 8 months to avoid troubles in the near future!

 

[PlayHardGoPro]

I understand your opinion is "they suck" but just out of curiosity what kind of questions do they ask that were so dumb? I mean give us the specifics

Only as an example, one of the many that i can provide, i quote below from their last email ( after that was a few days of silence, i think they saw how STU*** they are ):
1. Would you be able to provide KYC/CDD samples for your current individual and corporate
clients? 2 samples of each. This is in order to verify, what kind of information do you
collect during client on-boarding and whether this information would be accessible to us
once requested (in case we need supporting documentation during the transactions).
2. Are you using World Check as part of KYC procedure? If yes please provide a copy of
service agreement.
3. Would you be able to provide sample of KYC Questionnaire you are sending to your
clients?
4. Indicate how many people in the company are directly involved in controlling money
laundering and / or terrorist financing risk management.
5. Indicate the external partners (including database providers) that you use to manage
the risk of money laundering and / or terrorist financing.

This will be ok, if i want to open an EMI, or another financial institution, or something related to this to be able to make KYC and ask every client whats the name of their grandfathers, but my company activity is SOFTWARE DEVELOPMENT ))))
Definitely, AVOID Pervesk - pervesk.lt with any cost.

 

[Irration4l]

Only as an example, one of the many that i can provide, i quote below from their last email ( after that was a few days of silence, i think they saw how STU*** they are ):
1. Would you be able to provide KYC/CDD samples for your current individual and corporate
clients? 2 samples of each. This is in order to verify, what kind of information do you
collect during client on-boarding and whether this information would be accessible to us
once requested (in case we need supporting documentation during the transactions).
2. Are you using World Check as part of KYC procedure? If yes please provide a copy of
service agreement.
3. Would you be able to provide sample of KYC Questionnaire you are sending to your
clients?
4. Indicate how many people in the company are directly involved in controlling money
laundering and / or terrorist financing risk management.
5. Indicate the external partners (including database providers) that you use to manage
the risk of money laundering and / or terrorist financing.

This will be ok, if i want to open an EMI, or another financial institution, or something related to this to be able to make KYC and ask every client whats the name of their grandfathers, but my company activity is SOFTWARE DEVELOPMENT ))))
Definitely, AVOID Pervesk - pervesk.lt with any cost.

Oh wow, that is indeed overkill for a software dev. company. I could maybe understand if that was asked from a forex/cfd company or something related with crypto where they handle C2B funds. Seems like they have just a single outlook email template for all

 

[Gediminas]

Seems like they have just a single outlook email template for all

I can guarantee they don't. I have managed to onboard some of my clients with them without any problems.

 

[anotherone]

Here is the email I received when I applied for a pervesk account.

When I went through the Pervesk questionnaire during my application, I noticed that the questions were the same as opening a bank account. They ask you to tell from which countries your money will come from and to which countries you will send your money. They ask you to tick categories related to the source of funding.
So, I filled out the form and I received a response 5 days after completing the application.
I think it is good for me to talk about it and be transparent about it.
Quite interestingly I opened a business account at Bank of Ireland, and they asked me the same KYC/AML questions. The questions were similar.


Letter from pervesk.
------------------


We are extremely sorry for delayed response.

After reviewing your questionnaire, we have noticed some details that require further clarification:

- You have marked that you will be using Pervesk account as a self-employed business account. Could you please elaborate a little more about your activities?


- Could you please explain your activities in the countries that you have marked as ones where your funds will be sent to - Germany, Malta, Latvia, Netherlands and Lithuania?


- We must kindly ask you to provide any document that would cover the sums of your estimated monthly turnovers - 1 000 - 5 000 EUR. It could be a payslip, tax return or bank statements, etc.


- In order to proceed, we must ask you to update your TIN number (tax information number)- please follow the link to your questionnaire you have received via previous email.


Thank you for your interest in our services,

Best regards,

 

[anotherone]

Update about pervesk:
They refused to open an account for me.

Thank you for clarification. However, we regret to inform that, due to our internal policies, we will not be able to proceed with the account opening.

Thank you for understanding,

Best regards,


My situation:
I told them I wanted to use pervesk behind paxum as I didn't want to let all my money on the paxum account.

I took the time to read the terms of pervesk and nothing mentioned that one of my activities was prohibited. I don't like this. It is not transparent.

 

[JohnLocke]

Sorry to say so, but your case may be unique to them and for that reason it has no real relevance to other members. We have seen this so many times already, one member get declined while the other member got approved. When it is posted here at OffshoreCorpTalk things look to be identical, but in the real world it isn't.

Anyway, thanks for the information

 

[Irration4l]

Update about pervesk:
They refused to open an account for me.

Thank you for clarification. However, we regret to inform that, due to our internal policies, we will not be able to proceed with the account opening.

Thank you for understanding,

Best regards,


My situation:
I told them I wanted to use pervesk behind paxum as I didn't want to let all my money on the paxum account.

I took the time to read the terms of pervesk and nothing mentioned that one of my activities was prohibited. I don't like this. It is not transparent.

Was this a low/medium risk business that you tried applying on? Offshore or mainland?

As the admin said it might just be a normal rejection, but it does seem a bit fishy in the same way that epayments started rejecting loads of customers before they were busted for some reason by the FCA.

 

[anotherone]

For your information Bankera and Pervesk are the same company.

 

[anotherone]

Was this a low/medium risk business that you tried applying on? Offshore or mainland?

As the admin said it might just be a normal rejection, but it does seem a bit fishy in the same way that epayments started rejecting loads of customers before they were busted for some reason by the FCA.

I applied for a personal IBAN

Just in order to show you that their policies are really tight.

 

[anotherone]

I forgot to mention that they asked me to provide my TIN, (Tax identification Number), countries of sources of funds, countries of payments, activities, ultimate beneficial owner...etc...etc...
This was all the KYC/AML questions that you get at a main street bank.