Does Payoneer business account allow receiving from individual customers?

[vgahdmi123]

Question
If i open Payoneer for business, can I receive Sepa payments from individual customers like 300-400 transaction per month?

I know that on personal account they allow receiving only from business, but can business account receive from personal?
I am selling software licences.

Thanks

 

[apres777]

no they will block the payments unfortunately. Payoneer is strictly B2B (self employed clients even though they are "a business" will mostly be blocked too.)

 

[daniels27]

You may try Airwallex or Currenxie
https://help.currenxie.com/hc/en-us/articles/4406160191001-Who-can-apply
https://help.airwallex.com/hc/en-gb...egistered-in-for-opening-an-Airwallex-account

 

[vgahdmi123]

They dont support my country :/

Cannot believe i am without solution.

 

[daniels27]

Z

Post in thread 'EU bank account for UAE company'

Jul 23, 2024

Currenxie is available without a hassle, basic but reliable service. It doesn't provide a card though on your euro account and by being backed by UK bank sometimes fees are very unreliable to send money back to uae.
Paysera is an option as well even if sometimes they ask you for all your paperwork again for no understandable reason while freezing your account for week.
They offer card but their third party was and is unreliable (i e. PayPal or recurrent payment fail regularly and they were hacked a while back)
Paysera also had issue to send money to UAE for a long time as they didn't...

• Zikki

• 

I think paysera, bankera and currenxie would be the ones you could try. But yes, UAE is not the country of choice. There are many better ones with much better access to banking.

 

[Forester]

They dont support my country :/

Please, share/confirm what's your country. You claim at your banner that you are from Split – one such town is in Croatia; @daniels27 apparently works with the information that you are UAE based; I've just found this thread of yours https://www.offshorecorptalk.com/th...r-non-eea-resident-or-non-eea-business.46155/ that claims you have a company in Serbia

Generally, if you are interested just in SEPA, probably Verifo can be your best bet; but to confirm it it is really necessary to know your jurisdiction.

Cannot believe i am without solution.

Neither can I

 

[vgahdmi123]

It says in Split because I was there when my account is made. I am not UAE based, just exploring options is company there maybe solution, but apparently not.
Company is Serbia based.

 

[Forester]

It says in Split because I was there when my account is made. I am not UAE based, just exploring options is company there maybe solution, but apparently not.
Company is Serbia based.

In such a case
– be advised that UAE is not the optimal solution for your business case;
– I can firmly confirm the recommendation for Verifo;
– I can add Currenxie to the options (they are able to onboard Serbian company – Airwallex is not) and probably Paysera as well.
You can check with e.g. Interpolitan Money, too; but it would be a more expensive solution, I am afraid.

 

[daniels27]

Why not use a US LLC for the payment?

 

[vgahdmi123]

Why not use a US LLC for the payment?

because US LLC you have to link to US Account and SEPA To US is swift which is expensive

 

[daniels27]

because US LLC you have to link to US Account and SEPA To US is swift which is expensive

Yes, but you probably have access to better EMI for that.

 

[Forester]

Just a few remarks

Why not use a US LLC for the payment?

because US LLC you have to link to US Account

No, you have not. You can open an account for any US LLC outside the US (yes, it it not so easy as inside the US).

and SEPA To US is swift

Sorry, this does not make sense. SEPA and SWIFT are different and completely independent payment systems which both can work between any countries, in principle. Particularly, a US LLC can have a SEPA capable account and accept SEPA payments.

which is expensive

Yes, a SWIFT payment is usually more expensive than a SEPA one.

Hence, a US LLC can be used for such a business case.

Yet:

Yes, but you probably have access to better EMI for that.

With all due respect, I cannot agree. In my opinion, the options for a Serbian company are not so bad and for a US LLC not so good *

* especially if LLC has no US operations and/or is owned by a non-resident as for this case (UPDATE)


Having said all of that, I want to say that as well as using a Serbian company is possible – and I guess it is – I do not see the reason for switching to a US LLC. You know: Keep it simple, stupid

 

[daniels27]

With all due respect, I cannot agree. In my opinion, the options for a Serbian company are not so bad and for a US LLC not so good

Serbia? Yes, easier than US. I thought he is from Serbia but asking for a UAE company. But if we talk about Serbia, I also cannot agree with my previous post.

 

[daniels27]

@Forester I had to like some of your posts, now congratulations on all stars! We both made it today!

 

[vgahdmi123]

1 more question, does this payments like 3money, verifo and others asks for tax payment proof for business accounts, and can i pull money at any moment to private business account or they are strict?
I am asking since basically this bank account would be without control of my accountant office which controls local bank account. I understand I will be screwed if government finds out about it, but do they really report?

 

[Forester]

@Forester I had to like some of your posts, now congratulations on all stars! We both made it today!
View attachment 7993

 

[Forester]

1 more question, does this payments like 3money, verifo and others asks for tax payment proof for business accounts,

? What do you have in mind? No financial institution cares whether you paid your taxes or not, it's your responsibility (let's put aside some withholding taxes in some countries/situations).
Or do you talk about your tax identification number? Or about a (your) tax return to describe your source of funds? (If so, then for the former very probably/almost sure; for the latter possibly.)

and can i pull money at any moment to private business account or they are strict?

Why would you not be able to withdraw your money? They will only care whether you do not send money to some subject suspicious re: money laundering or terrorism financing (what can be really annoying but it will happen with any bank/EMI).

I am asking since basically this bank account would be without control of my accountant office which controls local bank account. I understand I will be screwed if government finds out about it, but do they really report?

If both you and your company are resident in Serbia, take into account that Serbia has not entered the AEOI/CRS system. Hence, regardless of will of the EMI, Serbia simply does not call for (and receive) any reports

 

[sebastian]

no they will block the payments unfortunately. Payoneer is strictly B2B (self employed clients even though they are "a business" will mostly be blocked too.)

What is the greatest benefit of using Payoneer these days? only that they accept Adult business ?