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Wise closing my business account need new EMI or bank

A

ayousupply

New member
Aug 21, 2023
44
11
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35
Germany
#1
Hi Guys,

Wise closing my account with 400,000$ in it. Because of too high risk

Now I need to get a new bank account where I can transfer the money from Wise to my new business account, as Wise was my only account ( I know big mistake)

My previous activities were related to offshore gambling companies, I did some Marketing for them. But now I will stop these activities. However, the 400k are from these activities. Can I get a new business bank account where I can transfer it to, without them freezing it or giving me a lot of problems?
My business is registered in Estonia

I was looking into bankera, but boy do they have bad reviews .

I was thinking to appeal the decision and tell them that I will stop accepting payments from Offshore countries

What would be the best choice`? Any ideas are appreciated on how to go about that
 
#2
#3
You can also try Verifo, GuruPay, Sepaga, Valyuz, FinXP, Vialet, and Bilderlings.

ayousupply said:
I was thinking to appeal the decision and tell them that I will stop accepting payments from Offshore countries
Click to expand...
If all you did was marketing for gambling businesses and if it only accounts for a small portion of your overall business, this might work. But I wouldn't hold my breath.
 
#4
Sols said:
You can also try Verifo, GuruPay, Sepaga, Valyuz, FinXP, Vialet, and Bilderlings.


If all you did was marketing for gambling businesses and if it only accounts for a small portion of your overall business, this might work. But I wouldn't hold my breath.
Click to expand...
It accounts for 90% of the business revenue. But yeah I agree probably useless to appeal.
Trying now payset. They seem to be more relaxed with SEO and Gambling affiliates

Bilderlings has this in their Terms:
"9.2 It is strictly forbidden to make payments to or to receive payments from persons or entities offeringillegal gambling services, including (but not limited to) illegal sports betting, casino games and pokergames. Bilderlings Pay may suspend or terminate Bilderlings Account at any time....
 
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#5
ayousupply said:
Bilderlings has this in their Terms:
"9.2 It is strictly forbidden to make payments to or to receive payments from persons or entities offeringillegal gambling services, including (but not limited to) illegal sports betting, casino games and pokergames. Bilderlings Pay may suspend or terminate Bilderlings Account at any time....
Click to expand...
It says "illegal gambling services" which leaves room for interpretation. However, it's good you checked. I've seen affiliates bank with them, but the most recent one was maybe a year or two ago now. Maybe things have changed.
 
#6
Park the funds in a personal established account... ensure it's set up specifically for parking... best to get the funds out of Wise whilst you can...

Then try and set up a few EMI's for holding funds, and or commercial account...
 
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#7
wellington said:
Park the funds in a personal established account... ensure it's set up specifically for parking... best to get the funds out of Wise whilst you can...

Then try and set up a few EMI's for holding funds, and or commercial account...
Click to expand...
I don´t want to park it in a personal account. Because my business is in Estonia and if I wire it to a personal account, they will consider this a salary. Which means I will have to declare income tax on it in my home country. I am trying payset
 
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#8
ayousupply said:
I don´t want to park it in a personal account. Because my business is in Estonia and if I wire it to a personal account, they will consider this a salary. Which means I will have to declare income tax on it in my home country. I am trying payset
Click to expand...
Must be different to the UK, in the UK you can park funds in personal accounts as long as its segregated and documented.

Perhaps Revolut, Advcash etc split across (commercial account).
 
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#9
Sols said:
It says "illegal gambling services" which leaves room for interpretation. However, it's good you checked. I've seen affiliates bank with them, but the most recent one was maybe a year or two ago now. Maybe things have changed.
Click to expand...
Yeah that is the problem, what is illegal gambling? Under which law? So they can basically do what they want. Payset has also in their terms:
"(ii) use the Services to pay for, support or otherwise engage in any illegal gambling activities, fraud, money-laundering, terrorist activities, or other illegal activities;"
I just hope they do not see that as illegal activity, since I am not participating in Gambling, I just get paid by gambling providers

Payset gives me the following pricings:
Opening fee: 495gbp
Monthly fee: 99gbp
Receiveing Money worldwide: 0.75%

Most expensive I have ever seen so far

So If I get my 400,000$ to payset, it costs me immediately 3000$ :D
 
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#12
ayousupply said:
Hi Guys,

Wise closing my account with 400,000$ in it. Because of too high risk

Now I need to get a new bank account where I can transfer the money from Wise to my new business account, as Wise was my only account ( I know big mistake)

My previous activities were related to offshore gambling companies, I did some Marketing for them. But now I will stop these activities. However, the 400k are from these activities. Can I get a new business bank account where I can transfer it to, without them freezing it or giving me a lot of problems?
My business is registered in Estonia

I was looking into bankera, but boy do they have bad reviews .

I was thinking to appeal the decision and tell them that I will stop accepting payments from Offshore countries

What would be the best choice`? Any ideas are appreciated on how to go about that
Click to expand...
Bankera, Verifo works with gambling as I know
 
#13
ayousupply said:
Yeah that is the problem, what is illegal gambling? Under which law? So they can basically do what they want. Payset has also in their terms:
"(ii) use the Services to pay for, support or otherwise engage in any illegal gambling activities, fraud, money-laundering, terrorist activities, or other illegal activities;"
I just hope they do not see that as illegal activity, since I am not participating in Gambling, I just get paid by gambling providers

Payset gives me the following pricings:
Opening fee: 495gbp
Monthly fee: 99gbp
Receiveing Money worldwide: 0.75%

Most expensive I have ever seen so far

So If I get my 400,000$ to payset, it costs me immediately 3000$ :D
Click to expand...

dw for your situation theyll work with you. You can negotiate the fees with them if you bring some volume.
 
#14
Konstanz said:
Bankera, Verifo works with gambling as I know
Click to expand...
Yeah so far I found only bankera has nothing written regarding gambling

Here is what verifio has:
..."Verifo Services for any illegal purposes, including, but not limited to fraud and money laundering; funding of terrorist organizations; unlawful sexually oriented materials or services; counterfeit products; unlawful gambling activities;"

Even though it says unlawful, still I think I prefer payset as it is in UK and not in Lithuania like Verifio
Bankera has too many bad reviews unfortunately. I am afraid the first thing they´ll do is freeze the account when such a large amount of money arrives
 
#15
ayousupply said:
Yeah so far I found only bankera has nothing written regarding gambling

Here is what verifio has:
..."Verifo Services for any illegal purposes, including, but not limited to fraud and money laundering; funding of terrorist organizations; unlawful sexually oriented materials or services; counterfeit products; unlawful gambling activities;"

Even though it says unlawful, still I think I prefer payset as it is in UK and not in Lithuania like Verifio
Bankera has too many bad reviews unfortunately. I am afraid the first thing they´ll do is freeze the account when such a large amount of money arrives
Click to expand...
You will not know without trying
 
#20
I will not get anymore payments from now on from Gambling companies. But my question is will they be fine, that source of funds was gambling previously.
And I don´t think I can skip letting them know about previous operation, because I want to send funds after receiviing it from Wise to buy a website for the whole amount of 400,000.
CyprusLawyer101 said:
What will you do with the company and funds ftom now on? What operation?
You may be able to skip letting the new emi known of your previous operation.
Click to expand...

Martin Everson said:
You could look at specialist gaming EMI's like Finductive.

https://www.finductive.com/
Click to expand...
Hey cool thanks have not seen them before. Will check them out.
But from now on I will not get payments from gambling companies anymore

Ok I checked out finductive reviews online and they don´t have many
2 on trustpilot both 1 star reviews
Anybody else tried them?
 
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