All fine till it ask for name, surname and date of birth plus phone number
Should I just ask for my nominiee to do that for me or anything?
I am all new to this ,a dummy. So how it goes basically?
Hey,
You made the mistake at the very beginning. Transferwise is a bad option for businesses. You should look for the EMI that is business-oriented.
So what should I do with my nominee structure? Is there any EMI out there that I can recieve payments with a simple IBAN?
Yes sure. I can help you with that, drop me an email (click on the banner).
Okay, just check it out. Thanks
sorry but the seller in this thread is going far to wide so I have to say bulls**t & @Admin you should remove this rubbish! TW is business minded and works well. Watch your bag OP if you engage with this guy.
Some that only can answer threads by upselling his own products without to give a answer to the question can't be trusted.
clemens said:sorry but the seller in this thread is going far to wide so I have to say bulls**t & @Admin you should remove this rubbish! TW is business minded and works well. Watch your bag OP if you engage with this guy.
Some that only can answer threads by upselling his own products without to give a answer to the question can't be trusted.
Transferwise is business oriented? Stop talking nonsense, man. :D I am not upselling there anything, just giving pure advice.
arsonist said:So what should I do with my nominee structure? Is there any EMI out there that I can recieve payments with a simple IBAN?
ask you nominees to complete the setup! It will work out for you, I'm sure.
Gediminas said:Transferwise is business oriented? Stop talking nonsense, man. :D I am not upselling there anything, just giving pure advice.
why are they not?
clemens said:why are they not?
To put it simply, they are targeting retail customers, not businesses. Their scale is too large to work closely with businesses. You can't afford to be blocked for a month while dealing with compliance issues. Whereas business-oriented financial institutions have dedicated teams for that, they are willing to listen to your problems instead of answering generic replies.
Hello there @clemens and @Gediminas We've been able to open a company account with Transferwise with a Wyoming LLC. So they can open almost every type of company account (Except Scheylles or similar). However, if you want to conduct business with that kind of EMI (Transferwise, Revolut, etc...) you have to be careful not to receive huge transfers from offshore countries and always have an invoice or legal receipt ready to show them.
For some businesses is better to work with EMIS established on Baltics or similar
Btraveler said:huge transfers from offshore countries
not only from offshore countries.
Gediminas said:not only from offshore countries.
right!
Gediminas said:You can't afford to be blocked for a month while dealing with compliance issues.
where have you read that it has happened to TransferWise so far?
Just sharing my personal experience with TW: have 3 business accounts with them and have never been blocked. Accounts are very active and we frequently received/send 6-digit amounts. Sure, they don't have dedicated managers, but their support is pretty fast and even in cases when they have questions about particular transfers, they never freeze your account but give you time to explain - if you are fast with supporting docs, everything works fine. Sure, it's not a proper bank and it's not a "specializing-in-gray-business" EMI (there are tons of these in Lithuania, for example), but out of all the well-known one, these guys work great IMHO. And sure, your own experience with them may vary, I get it :)
clemens said:where have you read that it has happened to TransferWise so far?
It happened to many of my clients.
Btraveler said:Hello there @clemens and @Gediminas We've been able to open a company account with Transferwise with a Wyoming LLC. So they can open almost every type of company account (Except Scheylles or similar). However, if you want to conduct business with that kind of EMI (Transferwise, Revolut, etc...) you have to be careful not to receive huge transfers from offshore countries and always have an invoice or legal receipt ready to show them.
For some businesses is better to work with EMIS established on Baltics or similar
How you opened the account cause it directly asks for name and surname? My nominee from littleturner is a company so what kinda info I put there?
Littleturner also do not know and familiar with kind of EMIs my agent from there saying?
Any advice?
After using Transferwise for almost two years I have not seen any problems so far. We have several business accounts with them and didn't recognize any issues.
arsonist said:My nominee from littleturner is a company so what kinda info I put there?
That's most often a problem, it is cheaper to get a corporate nominee appointed compared to a real person. You can't do nothing else then remove the corporate nominee and replace it with a real person nominee that is able to provide what is required.
Admin said:After using Transferwise for almost two years I have not seen any problems so far. We have several business accounts with them and didn't recognize any issues.
That's most often a problem, it is cheaper to get a corporate nominee appointed compared to a real person. You can't do nothing else then remove the corporate nominee and replace it with a real person nominee that is able to provide what is required.
That one I have never heard about. Asked about it now and tryna arrange it.
Hope it won't break the bank.
I did underlined that I need a nominee but never thought it gonna be like a company. I am so new to this and hope it turns out well
I did get paid for it but it is just name and adress as details so how can get Transferwise with that?
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True power moves in silence.
