Opening accounts in payment systems

Payment systems are becoming more and more popular as a financial tool for businesses, primarily due to the tightening of conditions for opening bank accounts for foreign companies and the termination of services for non-residents by many large banks. International payment systems that allow you to conveniently, quickly and safely make non-cash transfers around the world are very popular and are widely used for both domestic transfers and international transactions.

Advantages and disadvantages of payment systems


  • Simple and clear identification process;
  • Lower rates compared to the cost of servicing bank accounts;
  • Quick opening of a corporate account remotely and remote management via the Internet, including through mobile applications;
  • Access to multi-currency accounts, the ability to withdraw and credit funds to other accounts or payment systems;
  • Focus on the needs of international business;
  • Loyalty to foreign clients.

  • Limited service package. Many banking products are unavailable (with the exception of basic settlement services) - in particular, electronic platforms are not intended for investing or storing funds.
  • There is no clear legal regulation. Service platforms are not subject to financial insurance laws, and if the system is hacked, it is much more difficult to return the money.
  • As with opening a bank account, opening an account in the payment system will require disclosure of the ownership structure of the company and the identification of its beneficiaries.
  • Settlement transactions are available only if there is a network and Internet access.
  • Lack of ATMs, no possibility of withdrawing cash directly - only through withdrawal to a bank account or card.

We work with payment systems:

  1. Payoneer
  2. MultiPass
  3. Lian Lian
  4. 3s Money
  5. Bilderlings
  6. Emerald
  7. Unlimint
  8. Revolut
  9. DECTA
  10. Statrys
  11. Сurrenxie

The most popular payment systems and their features

  1. Payoneer
  2. Payoneer's flexible payment platform enables entrepreneurs to use a wide range of financial services. This payment solution has a high degree of compatibility with other platforms, which allows you to accept international payments in any foreign currencies without restrictions. This payment system opens accounts for companies from any jurisdiction with beneficiaries from any countries. At the moment, registration of new users in the system is available for resident citizens of other countries and companies registered abroad. Registration in the Payoneer system provides full details for SEPA and SWIFT.

    Opening dates:from 2 working days to 2 weeks (depending on the form of ownership and type of activity of the company)

    Cost: 1 500 EUR

  3. Unlimint

    This payment system is suitable for companies that specialize in high technology, IT, Internet and E-Commerce. Each client is assigned their own individual IBAN.

    Opening dates:1,5 – 2 weeks

    Cost: 1 000 EUR

  4. Revolut
  5. The service is ideal for a European company with an EU beneficiary. It is possible to choose different tariffs (Start, Standard, Professional).

    Opening dates:from 2 weeks

    Cost: 1 000 EUR

  6. Lian Lian
  7. The system allows you to open corporate accounts for companies from Hong Kong, Singapore and the USA with foreign beneficiaries. It is possible to issue virtual cards in dollars and euros. This payment system, like Payoneer, provides full details for SEPA and SWIFT.

    Opening time:from 2-3 weeks (depending on jurisdiction and business specifics)

    Cost: 2 500 EUR

Expert solutions West Union Group

The rest of the payment systems from the above list are no less in demand for business and currency transfers around the world. However, the choice of a payment system depends on the specific situation of the client, the place of registration and the scope of the company, whether the management (shareholders) has a residence abroad, etc. To find out the conditions for opening accounts in payment systems that West Union Group cooperates with, please contact our financial consultants. We will find the best solution for both corporate clients and individuals.

Call the phone +852 3702 7632 or write a message to WhatsApp +4917660018815

Contacts of West Union companies
  • Berlin +49 30 24724252
  • London +44 78 12524249
  • Paris +33 14 7430883
  • Nicosia +357 22377311
  • New York +1 347 4509922
  • Hong Kong +852 28910030
  • Riga +371 28455799
  • Kiev +380 96 1892877
  • Luxembourg +49 171 4139820
  • Shanghai +852 61483894
Leave a message