#general-chat
Thread
Canadian business expanding to EU. In need of an EU based back account (ie physically based in EU). Any recommendations? (or words of caution). Someone said “Wisebank, Payoneer or Citibank” that’s all the intel I’ve got so far.
Wise is good. Wouldn't recommend Payoneer. Citibank would be a lot more paperwork to open I think.
thanks for the concise feedback @Prateek Jain
Revolut is probably the least paperwork
if all you need is an IBAN for payments but don’t want to set up a company in a EU country,
Wise is really good.
it’s usually really easy to open.
@Frank thanks yes that’s my basic need for now
Revolut @Jamie Bond (RUX Co-Founder)
Wise can hold your funds all of a sudden
Revolut you can get a rep for 100usd a monht (business plan)
thanks i’ll check it out
can’t believe we haven’t used one of these two yet
@Wouter Akika do you use Revolut for Paypal transfers as well? googling suggests that part might be a bit easier with Wise. I ask because paypal withdrawals is another fx loss that i could solve with a better setup. currently I have to convert all our USD from paypal into CAD, because Paypal isn’t compatible with USD accounts physically in Canada. If Wise or Revolut lets me circumvent that step I’ll save a lot in unnecessary USD to CAD transfers
We managed to connect our Wise to Paypal, but I’ve heard mixed experiences, heard some other people who also managed, but also heard one company who didn’t manage to.
Revolut will allow for local currency accounts
CAD