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Local US bank account with EU company

hoffak

hoffak

New member
Feb 22, 2018
12
1
3
#1
Hi!

We run a e-com store doing 7 digits per year and are in desperate need of a local US bank account to be able to receive USD payouts from Stripe. Currently we're paying 2-3% exchange fee on ALL revenue due to not being able to make USD withdrawals to our EU bank account.

I got banned on TransferWise due to trying to create a 'dark' account 1-2 years ago and I keep getting banned instantly when I open a new account (with new and real info), so TransferWise seems not to be a option.

So how can I go about getting a US based bank account for my legal EU based company? I talked with my local bank and they told me they could set me up with their US branch at a $5,000 / year cost, but I thought that was excessive.

I'm eager to hear your suggestions. Thanks!
 
#2
hoffak said:
Hi!

We run a e-com store doing 7 digits per year and are in desperate need of a local US bank account to be able to receive USD payouts from Stripe. Currently we're paying 2-3% exchange fee on ALL revenue due to not being able to make USD withdrawals to our EU bank account.

I got banned on TransferWise due to trying to create a 'dark' account 1-2 years ago and I keep getting banned instantly when I open a new account (with new and real info), so TransferWise seems not to be a option.

So how can I go about getting a US based bank account for my legal EU based company? I talked with my local bank and they told me they could set me up with their US branch at a $5,000 / year cost, but I thought that was excessive.

I'm eager to hear your suggestions. Thanks!
Click to expand...
Hey! Have you tried Payoneer or Ebury ?
 
#4
hoffak said:
Hi!

We run a e-com store doing 7 digits per year and are in desperate need of a local US bank account to be able to receive USD payouts from Stripe. Currently we're paying 2-3% exchange fee on ALL revenue due to not being able to make USD withdrawals to our EU bank account.

I got banned on TransferWise due to trying to create a 'dark' account 1-2 years ago and I keep getting banned instantly when I open a new account (with new and real info), so TransferWise seems not to be a option.

So how can I go about getting a US based bank account for my legal EU based company? I talked with my local bank and they told me they could set me up with their US branch at a $5,000 / year cost, but I thought that was excessive.

I'm eager to hear your suggestions. Thanks!
Click to expand...

I think Paysera should be an option?
 
#6
hoffak said:
They don't seem to use local US bank accounts, or am I wrong? To clarify... it's necessary that the bank account is based in the US and that it's not just a USD IBAN account.

Also, when I'm navigating around on the Paysera website they don't feel very trustworthy, especially when we need to trust them with $150K/m.
Click to expand...
Paysera can be trusted, one of the better EMI out there, but they won't solve your problem for USD. You can also try moneycorp bank - these guys are pretty flexible and you will have your account manager who can be reached on the phone on demand - they should be able to help.
 
#7
Sadhu said:
Paysera can be trusted, one of the better EMI out there, but they won't solve your problem for USD. You can also try moneycorp bank - these guys are pretty flexible and you will have your account manager who can be reached on the phone on demand - they should be able to help.
Click to expand...

Thanks. What about opening a 'real' bank account with a US bank. Is there any services that can help me do that for my current company?
 
#9
hoffak said:
We run a e-com store doing 7 digits per year
Click to expand...

Ok

hoffak said:
I talked with my local bank and they told me they could set me up with their US branch at a $5,000 / year cost, but I thought that was excessive.
Click to expand...

7 digits per a year but your not making enough profit from that to pay $5,000 a year....just saying.
 
#10
Martin Everson said:
Ok



7 digits per a year but your not making enough profit from that to pay $5,000 a year....just saying.
Click to expand...
We definitely are capable of paying that amount, but I find it ridiculous that they want to charge us $5,000 (per year!) for simply having a bank account opened with their US branch. So it's more a matter of principle why I'm looking for an alternative.
 
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#13
Sadhu said:
Paysera can be trusted, one of the better EMI out there, but they won't solve your problem for USD. You can also try moneycorp bank - these guys are pretty flexible and you will have your account manager who can be reached on the phone on demand - they should be able to help.
Click to expand...
Moneycorp Bank sounds flexible but they expect you to make FX transactions/transfers, otherwise they won't open the business account.
 
#15
clemens said:
Do you know how reliable and "strong" they are - I know from @Martin Everson post that TW is backed with money.
Click to expand...
Just Google for World First valuation and then you will see a past valuation on TechCrunch and Crunchbase and that a branch of Alibaba bought them. I think impressive is that World First moved double digit billions since creation and I know people buy e.g. houses with World First FX services and also many Amazon merchants use their services. They are legit but if you do a 1:1 comparison to TW then TW is bigger.

Nevertheless I would not store very big amounts for a longer time on neither TW or World First.
 
#16
hoffak said:
They don't seem to use local US bank accounts, or am I wrong? To clarify... it's necessary that the bank account is based in the US and that it's not just a USD IBAN account.

Also, when I'm navigating around on the Paysera website they don't feel very trustworthy, especially when we need to trust them with $150K/m.
Click to expand...
Yes, right, Our Paysera experience: We had a business account at Paysera. Although we filled out the KYC form during the first registration, the money on the account was restricted after 1000 USD. Account remained closed for 30 days. we have become unable to do our job. Our customers sent money to our paysera account. But we couldn't take the money. I sent the same KYC form we gave a year ago many times. They did not unblock our account again. After a lot of emails, our account opened 1 month later. We became victims. We have tax numbers in 3 EU countries. Paysera excuses KYC and runs the money for a long time. When they said we would complain to the EU consumer rights agency, they opened our account. All emails are available as evidence. I recommend you stay away.
 
#17
hoffak said:
Hi!

We run a e-com store doing 7 digits per year and are in desperate need of a local US bank account to be able to receive USD payouts from Stripe. Currently we're paying 2-3% exchange fee on ALL revenue due to not being able to make USD withdrawals to our EU bank account.

I got banned on TransferWise due to trying to create a 'dark' account 1-2 years ago and I keep getting banned instantly when I open a new account (with new and real info), so TransferWise seems not to be a option.

So how can I go about getting a US based bank account for my legal EU based company? I talked with my local bank and they told me they could set me up with their US branch at a $5,000 / year cost, but I thought that was excessive.

I'm eager to hear your suggestions. Thanks!
Click to expand...
What is the local bank with a USA branch that offered to set you up with a USA account for $5000/year?
 
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