What's your take on Xace, good & bad?

[Spinat]

I see them advertise here on OCT since a few days and were wondering what people thoughts are?

Anyone signed up with them already or had good or bad experience?

 

[BlueMist]

Gaming focused Malta based EMI, similar to Finductive which I have been using for more than 1 year. I can't see Xace BIC listed on Central Bank of Malta website: International Bank Account Number (IBAN) - Central Bank of Malta unless they are using some other party details.

 

[Fred]

They state on their website that they are incorporated in UK with a presence in Malta and provide the services through Modulr FS Europe Ltd - financial institution from Ireland.

 

[For Free]

Gaming focused Malta based EMI, similar to Finductive which I have been using for more than 1 year. I can't see Xace BIC listed on Central Bank of Malta website: International Bank Account Number (IBAN) - Central Bank of Malta unless they are using some other party details.

Hi @BlueMist. How good is the service and fee? Any problem for registration and compliance?

 

[BlueMist]

Hi @BlueMist. How good is the service and fee? Any problem for registration and compliance?

Finductive? Pretty straightforward. I have MT trading company with CY nominee holding company, so the compliance checks took roughly 3 weeks. Onboarding is €750 and annual fees €1200. I think annual fees depends on some factors such as business risk and avg. balance held. "Cheap" SEPA transfers. No issues with receiving or sending payments. For payments IN/OUT above €25k you need to send them supporting documents e.g. invoice.