For a complete overview of the options for consideration when choosing a banking or fin-tech service for your company, please first visit our e-Residency Banking Basics overview.
The e-Residency programme is committed to helping e-residents access a broad range of business banking and other financial tools. We are constantly gathering feedback from the e-Residency community and working with the private sector to identify the best solutions. Below you'll find a reference guide for the current list of services we've identified and established communication with the service providers in our Marketplace. As always, be sure to visit their individual websites directly for the latest information.
| Payoneer | LHV | Paysera | Transferwise | Stripe | Xolo | |
|---|---|---|---|---|---|---|
| Visit Payoneer | Visit LHV | Visit Paysera | Visit Transferwise | Visit Stripe | Visit Xolo | |
| Authorized Payment Institution | ||||||
| Credit institution | ||||||
| Main Office(s) |
US |
Estonia | Lithuania | UK | US | Estonia |
| IBAN Receiving bank details |
USD, GBP, EUR, CAD, AUD, MXP, JPY |
Estonian | Lithuanian | EUR (BE), GBP, USD, AUD, NZD, PLN |
DK, DE |
DE |
| Supported currencies |
150+ currencies |
AUD, CAD, CHF, CZK, DKK, EUR, GBP, HKD, HRK, HUF, JPY, NOK, PLN, RUB, SEK |
30+ currencies | 52+ currencies | 135+ currencies | EUR |
| Availability | ||||||
| Payoneer | LHV | Paysera | Transferwise | Stripe | Xolo | |
| Basic criteria | Existing bank account to verify account |
e-resident OÜ registered Business Plan |
OÜ registered KYC questionnaire |
OÜ registered A physical address of the business owner |
OÜ registered See criteria here and here |
OÜ registered with Xolo |
| FATF countries | Available for Bahamas, Botswana, Cambodia, Ghana, Iceland, Mongolia, Pakistan, Panama, Trinidad and Tobago and Zimbabwe | Unsupported countries: Afghanistan, Iraq, Iran, Myanmar, North Korea, Sudan, Syria, Uganda, Yemen | ||||
| Restrictions to applicant |
According to Payoneer Terms and Conditions |
People subject to FATCA reporting requirements |
According to Limitations to e-money redemption |
According to TransferWise Acceptable Use Policy |
See website | See website |
| Restrictions to business activity | According to Payoneer Terms and Conditions | According to General Conditions of AS LHV Pank | According to General Payment Service Agreement for Business | According to TransferWise Acceptable Use Policy | See website | See website |
| Personal account with business account | ||||||
| Payoneer | LHV | Paysera | Transferwise | Stripe | Xolo | |
| Online | ||||||
| Processing time | Up to 2 days | 10-14 days | 5 working hours | In general 0-2 working days | Sign up instantly | 24-48 hours |
| Services | ||||||
| Payoneer | LHV | Paysera | Transferwise | Stripe | Xolo | |
| BIC/SWIFT | ||||||
| SEPA payments | Free | Free |
Yes |
Yes | Yes | Yes |
| International payments | ||||||
| Multiple user accounts | ||||||
| Credit/debit card/pre-paid | Prepaid Mastercard | Business Debit Mastercard | Business Debit VISA | Business Debit Mastercard | In progress | Business Debit Mastercard |
| Mobile application | ||||||
| Share capital contribution | Confirm with your account manager | |||||
| Fees | ||||||
| Payoneer | LHV | Paysera | Transferwise | Stripe | Xolo | |
| Account opening fee | Free | See website | Free | Free | Free | Included in monthly fee |
| Monthly subscription | No monthly fee | 20€ | No monthly fee | No monthly fee | No monthly fee | Included in monthly fee |
| Transactions | See website | See website | See website | See website | See website | Included in monthly fee |
| Currency conversion inside the account | 0.5% of transaction amount | 1% of transaction amount | no charge | See website | See website | N/A |
| ATM withdrawal | Up to 3.5% | See website | See website | See website | N/A | 6€ |
| Support for payment gateways & integration with other platforms |
How is your money kept safe?
Payoneer in EU is a licensed e-money issuer and authorized payment institution with the Financial Services Commission of Gibraltar. In the United States, Payoneer is a Registered Money Service Business with U.S. Department of the Treasury FinCEN and licensed money transmitter in 49 U.S. states. In Hong Kong Payoneer is a Licensed Money Service Operator with Hong Kong Customs and Excise Department. In Canada, Payoneer is a Registered Money Service Business with FinTRAC. In Australia, they are licensed by the Australian Securities and Investment Commission. Government-sponsored guarantees or insurance does not apply to funds held in connection with the Payoneer services. However, Payoneer strictly adheres to applicable safeguarding requirements which are designed to ensure the safety and liquidity of funds held on behalf of customers.
LHV is regulated or supervised by the Estonian Financial Supervision Authority. Customer assets held by LHV Bank are comprehensively protected via three measures: LHV Bank internal control system, LHV Bank equity capital and the Estonian state system for the protection of investors and depositors.Estonian state-backed guarantee of 100,000€ on all deposits. Read more.
Since 2012, Paysera is a licensed e-money institution with the right to execute the activity related to the issuance of e-money and provision of payment services all around the European Union. The e-money institution license was issued by the Bank of Lithuania. The introduction of electronic money ensures that the funds of the electronic money holders and the funds transferred to the electronic money institution by the users of the payment service are solely their property and cannot be recovered from the debts of the electronic money institution. All funds transferred to your Paysera accounts are separated from the funds of the company and cannot be used for company needs, loaned or invested as banks do. As a result, there is no risk of failed investments/loans and no additional insurance is required. In the event of the bankruptcy of the e-money institution, regardless of the amount of money held in the Paysera account (even if it exceeds 100 000 EUR), the client will receive all of their money back. In the event of the bankruptcy of our partner bank, the electronic money institution will also be able to obtain all funds deposited by the clients, as banks are not able to use the money deposited in such accounts. Read more.
TransferWise is an Electronic Money Institution and is required by law to keep your money safe by storing it in a low-risk financial institution (e.g. bank account). For example, for UK and European customers, your money is stored and safeguarded securely in our Barclays accounts in the UK. This means that in the event that TransferWise were to become insolvent, your money is unaffected and will be refunded to you in full.
Stripe has been audited by a PCI-certified auditor and is certified to PCI Service Provider Level 1. This is the most stringent level of certification available in the payments industry. To accomplish this, we make use of best-in-class security tools and practices to maintain a high level of security at Stripe. Read more.
Xolo works with Wirecard, a fully-licensed German bank who provides Xolo's customers with integrated bank accounts and German IBANs. Since bank accounts are opened completely remotely customers go through a video verification process provided by a reputable German verification provider IDNow. Customer's deposits of €100,000 are protected by the EU guarantee fund.