Intelligent Solution Group > Services > Opening an account with a payment system

Opening an account with a payment system

A non-bank with a Hong Kong license

Corporate Bank Account Opening in UAE

Neobank with a lithuanian license

Neobank with an English license

Neobank with VASP licenses of Lithuania and MSB licenses of Canada

Many payment systems—also known as neobanks—offer attractive terms, such as no limits on the amount or number of transactions, the ability to open an account remotely, and the issuance of plastic cards.

Price: from € 1500.

A list of jurisdictions where we can open corporate and private accounts for you

United Kingdom
Hong Kong
Cyprus
Lithuania
Luxembourg

Malta
United Arab Emirates
Poland
Singapore
United States

The benefits of opening an account with a payment system

storing, exchanging and trading currencies in over 190 countries;

a wide range of neobank services available;

convenient and user-friendly online banking;

the option to make payments in USD, EUR and other currencies;

SWIFT, Target and SEPA instant payments;

favourable exchange rates for most major currencies.

If you have tried to open a business account with an overseas payment system yourself, you have most likely encountered a number of specific problems and restrictions:

illogical, and often completely unfeasible, requirements imposed by the neobank;
a long waiting period for the application to be processed;
requirements for the business to have a physical presence in the country of registration;
high set-up costs, which negate any potential benefits.

We partner with many neobanks and work exclusively with reputable financial institutions; we can help you open an account with a reliable payment system quickly.

Types of payment systems

The main criterion for classifying all payment systems is whether they are national or international. Systems in the first category operate only within a single country, whilst those in the second operate worldwide. Entrepreneurs conducting business in several countries at once are better off choosing international payment systems. Depending on who is involved in the financial transactions, it is customary to distinguish between banking (settlements are made between banks) and inter-company (settlements are made between companies) payment systems. Another type is electronic payment systems (EPS). Their functionality is based on e-wallets, and their main advantage is considered to be the simplified procedure for carrying out transactions. Despite this, EPS are still secure and guarantee the protection of users’ personal data.

Requirements for opening a corporate account in a payment system

1

Ultimate beneficial owners must undergo identification.
2

Provision of the company’s charter and other founding documents (for example, incorporation agreements).
3

Confirmation of tax registration, provision of the Tax Identification Number (TIN or equivalent).

4

Provision of financial statements or tax returns.
5

Proof of the company’s registered address.
6

Compliance with the "Know Your Customer" (KYC) policy and anti-money laundering (AML) measures.

Leave your contact details. Our specialist will contact you within 30 minutes and advise you on your question.

Alla Head of Sales Department

Book a consultation! Choose a time and date that suits you.

Stages

We choose payment system options based on the specifics of the business and the expected outcome.

We assist in preparing the required documents package.

We submit applications for preliminary approval, undergo the KYC policy, and obtain pre-approval.

If the neobank requires additional documents, we prepare them and communicate with the neobank staff.

After the application is successfully approved, the account is opened and activated remotely.

At your request, we set up internet banking and execute payments.

Additional services

paid separately

we assist with connecting to SWIFT;
we provide consultations on confirming the source of funds;
we set up internet banking;
we execute bank payments;
we prepare financial and accounting reports;
we support the compliance check process;
we recover funds from frozen accounts.

Cases:

CASE: How to recover frozen $600,000

The client faced a problem with frozen funds in the account of his international company. The bank where the account was held was in the process of liquidation and froze all funds while starting an audit of its clients.

CASE: Forgotten $400,000

Our client decided to completely liquidate his company, established about 10 years ago in Latvia. During the liquidation process and communication with the bank, we discovered that the client had $400,000 in the account for several years — money everyone had forgotten about.