Our valued sponsor

Question Should i look for a new bank?

thom038

New member
Oct 14, 2020
21
7
3
32
Hi all,

I have a HK limited, operating from ES and my corporate bank account is at CIM Banque.
The policies from CIM Banque changed a couple of days ago, and from the 7th of December i need to have a physical office + employees in Hong Kong (proof of both).
If not my account will be closed.

My question at this very moment is;
Should I start searching for a new bank, or should i open an office / virtual office and employ somebody who takes care of invoices or customer service?
I´m in the online advertising industry. Mainly consulting companies when it comes to their online activity + affiliation.

All answers will be appreciated. If you need more information regarding my corporate structure i´m happy to provide answers in detail.
 
  • Like
Reactions: clemens
Hey,

The answer depends on how bad you want to remain a customer of CIM. Both options are on the table for you except for the virtual office.

If I was you, I would still get a second account, for diversification purposes. You never know when the bank will decide to close your account, so you want to have another as a backup.
 
  • Like
Reactions: clemens
Thank you Gediminas for you quick response,

I´ve only been a customer of CIM for about 2 months so just started running money through the account. I will definitely take your advice and open a second account. Due to the current situation traveling is difficult which is limiting the possibilities of opening a bank account.

Do you have any recommendations for a HK ltd?
 
Thanks again, is Bankera similar to - Paysera / Neat / Revolut?
Are they reliable when it comes to guarantees when they go bankrupt? sorry for the questions.
I evaded fin-tech companies on purpose because i rather want to focus on more reliable banks. however if this is very reliable i will give it a try. Appreciate your recommendation!
 
Yes, Bankera is an EMI like Paysera or Revolut. The only difference - Bankera is a business-oriented financial institution; most of its clients are businesses.

I wouldn't worry about bankruptcy. They employ over 140 people around the world and also they owe massive capital. I know them very well and I can vouch for them. ;)
 
  • Like
Reactions: thom038