Simple and inexpensive EMI for business account

[EliasIT]

I need a business EMI account for totally legit EU company that comes with one physical card for efficient operative spending of company representatives during occasional traveling (Japan, Thailand, Sweden, UK). I prefer no monthly fee plan.
ZEN seems to be a viable option - any glitches? Other recommendations?

Try Wise or Currenxie!

 

[Forester]

Amnis does look interesting indeed! However I did notice this on their free plan, not sure what "third-part collections" means exactly:

I understand this as when you receive payment from 3rd party via local payment system which they support, i.e. CHF via SIC, EUR via SEPA, GBP via Faster Payments, USD via ACH/Fedwire, CAD via EFT. This is a flat fee, every single collection is free then. (Probably there is no such fee when you do not use these payment systems but SWIFT only.)

Try Wise or Currenxie!

Currenxie does not issue cards to EU (non-HK, in general) companies, unfortunately.
(As it is known here, I personally do not recommend Wise: https://www.offshorecorptalk.com/th...est-how-diversify-the-money.43188/post-282826)

 

[EliasIT]

(As it is known here, I personally do not recommend Wise: https://www.offshorecorptalk.com/th...est-how-diversify-the-money.43188/post-282826)

well I don't have any issues with Wise.

I think that one should separate their own personal opinion from others' opinions; just because one doesn't share the same opinion, it doesn't mean that one is more right or wrong than the other.

I am sure that if one delved into many of the accounts that Wise closes, in 99% of cases, there would be very good reasons for why the account was closed. It’s just that nobody talks about that.

 

[Forester]

well I don't have any issues with Wise.

I believe, competely . I am aware that Wise works for many. And good for you!

I think that one should separate their own personal opinion from others' opinions; just because one doesn't share the same opinion, it doesn't mean that one is more right or wrong than the other.

Of course.

I am sure that if one delved into many of the accounts that Wise closes, in 99% of cases, there would be very good reasons for why the account was closed. It’s just that nobody talks about that.

In general, I share this opinion of yours. Just as far as I have witnessed, it's not 99% of cases. I do not dare to say what % it is; but definitely a remarkable one. Yet simply, as I elaborated in the referenced post: the chances not to have problems are too unpredictable and too uncertain, especially for more complicated business cases. FMPOV.

 

[aragon]

I understand this as when you receive payment from 3rd party via local payment system which they support, i.e. CHF via SIC, EUR via SEPA, GBP via Faster Payments, USD via ACH/Fedwire, CAD via EFT. This is a flat fee, every single collection is free then. (Probably there is no such fee when you do not use these payment systems but SWIFT only.)

The word "collections" makes me think of a direct debit type scenario where the payment is actioned by the receiver (collected). So just receiving funds that a 3rd party credited (sent) to your account wouldn't trigger the management fee.

 

[Forester]

The word "collections" makes me think of a direct debit type scenario where the payment is actioned by the receiver (collected).

Yes, I understand your perspective – and frankly, it sounds reasonably. Yet it is true that accounts (often pooled ones) that EMIs use for receiving payments in various local payment systems are commonly called “collection accounts“ (honestly, I do not know the background; but it is so). Hence my hypothesis.

Of course the best way how to check what does it all mean is to ask Amnis support