Which online bank to use to receive >100K euros?

#22
JohnnyDoe said:
I never had a problem with them lol
Those banking monkeys act completely random
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Same... never had an issue until they just decided to close my account for no apparent reason.
I had just the option to put IBAN where they moved all the funds I had and I could export the statements...
 
#24
After reading worse and worse EMI solutions to be offered to you, let me ask the questions which should have been asked: 1. What is your citizenship 2. Do you have a proper residency permit in Hungary? 3. Is the website you are selling an adult type one? 4. Have you considered your tax situation for the probable capital gain?
 
#27
N26 does not work for companies. NorthOne does not deal with non-US residents. I'm giving Every a try. Thanks.

So far all we got was Wise. I have, in advance, contacted Wise to explain them our business, what we do, what pattern of transactions we expect and also sent them the invoice for the money we need to receive for the services we've been rendering for this particular client in Europe ($465k). Their reply is basically copy paste of what's on their website:

"If you’re receiving a large amount of money to your Wise account, we may need to ask you about your relationship with the sender, or the purpose of the payment. This is a regulatory requirement for us, and it helps us to make sure that our services are safe for everyone.
You don’t need to do anything, like send us documents, before you receive a large amount of money. As we review transfers on a case by case basis, there’s no way to know what information we’ll need until we’ve got the money from the sender.
Our team would reach out to you if they need anything."

It is only me that gets uncomfortable with this kind of answer? I wonder if I gave my clients this kind of answer, which is basically, "try me and we'll see what happens".

I'm actually afraid of giving the bank details to the client. At the same time we have contractors lining up to receive for their work. Never thought going the US LLC route for international business would be such a headache with banking. Ugh. Help.
 
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Reactions: vehzag and Radko
#29
Hello,

sorry for the late reply. I am french and yes I have a residence permit. The website isn't in adult niche and yes I considered the tax situation if I receive the capital gain (15% personal tax in Hungary).
 
#30
edouardseo said:
Hello,

sorry for the late reply. I am french and yes I have a residence permit. The website isn't in adult niche and yes I considered the tax situation if I receive the capital gain (15% personal tax in Hungary).
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If you have the residence permit in Hungary just go and open a bank account with MKB Bank and you can get the money to that bank.
This bank have opened accounts a lot of foreigners and expats so you shouldn't have a major issues when opening an account.
No need to go to any EMI or anything.
 
Reactions: edouardseo
#31
edouardseo said:
Hello,

sorry for the late reply. I am french and yes I have a residence permit. The website isn't in adult niche and yes I considered the tax situation if I receive the capital gain (15% personal tax in Hungary).
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As a French citizen with a proper residency permit you should not have problems, we are using K&H Bank and MKB

Fully agree

edouardseo said:
Hello,

sorry for the late reply. I am french and yes I have a residence permit. The website isn't in adult niche and yes I considered the tax situation if I receive the capital gain (15% personal tax in Hungary).
Click to expand...
And of course tell tem your full story when the account is opened.
 
Reactions: edouardseo
#33
Hello, I'm new here and I'd like to thank the forum for all the information, I'm learning a lot!
Could someone please tell me if Advcash is a good EMI to use as a bridge, from a bank account to an Advcash account, and from there to Wise or any other EMI and from there to a local bank account? It would be for small amounts, around $5000 per month max.
Thanks in advance
 
#34
EMIs are managed by compliance computers, while in normal banks at least you have a chance to work with a live relationship manager. BTW I have been working with MKB since 1993
 
Reactions: edouardseo
#35
They have staff that speaks English and also Russian so the language shouldn't be an issue.
I don't speak Hungarian at all but still was able to open, use normally and later on close an account there.
 
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