Company industry: CBD
Company jurisdiction: Holland
Shareholders: 3 Individuals from Netherlands
Banking needs: To receive payment from PSPs, pay affiliates, pay salaries and offices – SWIFT EURO, USD
Banking difficulties in Holland
Their bank in Dutch banks do not accept payments related to the CBD industry.
They came to us asking for assistance to open business bank account in Europe with SWIFT EUR, USD and SEPA and also a financial institution that understand their business model so their account will be approved easily.
- We assisted them to open account in Europe for their Dutch company – no need to form a new company.
- No need to personally visit the bank.
- This way, the company has an account in Europe and can easily manage the operational account of the company.
- We assisted them to approach an EMI’s in Europe.
What were the steps:
- Identify their needs and current difficulties.
- Collect company shareholder’s and director’s information from open sources – company registry.
- Identifying the Most suitable EMI for the needs of the client.
- Comparing to offered charges from different EMIs.
- Filling in the information in the financial institutions applications/ Corporate Questionnaire.
- Work with the bank to ensure application is full for smooth account opening.
- Financial institution approved the application and open the company an account with the required services.
Case study Summery:
It took 2 and a half weeks to open the account from first contact to us until bank approved the application.