What's alternative European EMI to Wise, Currenxie and Zen ?

[dany]

I've been searching for various EMIs and neobanks that can offer me a business account for my small company. I already have the ones mentioned in the title, but I’m looking for additional options in case anything goes wrong.

I’m in the process of selling another smaller project, with a sale price of around €1.5M, and I want to distribute the funds across different EMIs. I've already spoken with Wise support, provided them with all the sales documentation, and they confirmed there shouldn’t be any issues. However, I don’t want to rely solely on this, so I’d prefer to split the amount into smaller portions.

I have a Swedish AB with paid-in share capital amounting to approximately 1 million SEK.

 

[Martin Everson]

There are hundreds of EMI's in EU. If you have EU residence to go with that Swedish company you have an almost unlimited choice and also a few neobanks.

Wouldn't know where to start to be honest

Maybe look through the below list and see ones that suit your needs.

https://thebanks.eu/list-of-emis

 

[Houdini]

Do you consider them all on the list reliable, just asking or is one better than others ?

 

[JohnnyDoe]

There are hundreds of EMI's in EU. If you have EU residence to go with that Swedish company you have an almost unlimited choice and also a few neobanks.

Wouldn't know where to start to be honest

Maybe look through the below list and see ones that suit your needs.

https://thebanks.eu/list-of-emis

Some only onboard local companies, others are very picky about foreign companies. I applied with most for an Estonian Ltd with 50k Eur paid capital and audited financials.

 

[diatessaron]

If Wise has confirmed there won't be any issues, there will be issues. Try Bank Frick.

 

[Forester]

I’m in the process of selling another smaller project, with a sale price of around €1.5M, and I want to distribute the funds across different EMIs. I've already spoken with Wise support, provided them with all the sales documentation, and they confirmed there shouldn’t be any issues. However, I don’t want to rely solely on this, so I’d prefer to split the amount into smaller portions.

I have a Swedish AB with paid-in share capital amounting to approximately 1 million SEK.

An (IMO) important question, to avoid misunderstanding:
Do you intend to perform some operations with this 1.5M capital or you want just to park it safely somewhere?
Background: EMIs – in general – are not designed for just parking a remarkable amount of cash there, they expect operations. Some of them say this even very explicitly, see e.g. here https://www.offshorecorptalk.com/th...w-and-do-it-works-with-wise.43193/post-326504. On the other hand, a client with clean funds wanting just to park 1.5M is well welcome in many reasonable banks...

Some only onboard local companies, others are very picky about foreign companies. I applied with most for an Estonian Ltd with 50k Eur paid capital and audited financials.

Just a side-note: At non-former-Soviet-bloc financial institutions, a Swedish AB is perceived very differently (in a positive way) than an Estonian Ltd, I am afraid.

If Wise has confirmed there won't be any issues, there will be issues.

+1

 

[Martin Everson]

Do you consider them all on the list reliable, just asking or is one better than others ?

You want me to examine all 600+ ?

 

[Houdini]

No No, I just wanted to ask if you had any favorites

 

[Martin Everson]

No No, I just wanted to ask if you had any favorites

lol...no favorites. But if you want to keep the door open to a crypto friendly EMI with crypto backed loans etc then maybe Nebeus. They are based in Spain but are fairly new.

https://nebeus.com/


But if credibility and large scale of operation as an EMI matters than Ebury which has Santander Bank as one of its backers. I would put it in same level of credibility as Wise if not higher in fact.

https://ebury.com/

 

[dany]

But if credibility and large scale of operation as an EMI matters than Ebury which has Santander Bank as one of its backers. I would put it in same level of credibility as Wise if not higher in fact.

https://ebury.com/

very helpful, I will try to apply for an account with them. I have been looking for an alternative to wise for a long time. Revolut does not work for me.

 

[Houdini]

lol...no favorites. But if you want to keep the door open to a crypto friendly EMI with crypto backed loans etc then maybe Nebeus. They are based in Spain but are fairly new.

https://nebeus.com/


But if credibility and large scale of operation as an EMI matters than Ebury which has Santander Bank as one of its backers. I would put it in same level of credibility as Wise if not higher in fact.

https://ebury.com/

That’s definitely something I can work with. I haven’t used these EMIs’ services before, so I’ll go ahead and apply for an account with them to have a few alternatives on hand.

Thanks for your help—you’re the go-to person when it comes to finding a reliable service for storing funds!