Just to give an update. I wanted to give the full picture because clearly i know that many people who incorporate in Ireland or in the UK have difficulties to open a
bank account in the UK or Ireland when they are non resident.
However, it is better to stick to the major big banks.
I have also discovered thanks to this italian entrepreneur that Paywithfire wasn't part of the irish system to pay irish tax.
More importantly, after this person applied and sent all the
due diligence to paywithfire to open a bank account. He received an email where he was asked to give details about his marketing strategy and advertisement strategy to get customers. Since his activities are related to the internet he found this pretty intrusive. In fact, he told me that in his case, if he would have shared information about marketing that means he should have gave up trade secrets because that was made the difference with competitors.
Then, he understood they had no understanding of business setup. This entrepreneur had a company for publishing purposes on his website and one for billing purposes. He told me the operation lead of paywithfire didn't understand that it was possible that somebody could use a
US company for publishing purposes on the website & billing company behind that. However, with the payment gateways, it happens all the time.
What he didn't like wasn't the fact they asked. He felt fooled because when he applied at paywithfire.com everything made believe that you had just to fill out the form upload the
company formation documents and required documents and that's it.
We also asked to tell from where the business will be operated (from which country)
He has been asked to give details about the goods and service he wanted to sell.
When he received questions that was not related to a bank, he decided to give up. Don't forget we talk about a so called business bank account offer with NO
credit card, NO overdraft, and a fee for incoming and outgoing transfer.
