Worldfirst Account
Hi Guys,
Recently saw an advert for Worldfirst banking account for being paid in Euros for FR, DE and ES market places, anyone with info on how easy this is to set up and any recommendations for using them?
Many thanks,
12 replies
Seller_z6B2L9xab6HlP
You might like to have a look into transferwise too:
https://transferwise.com/help/article/2947680/borderless-account/adding-transferwise-account-details-to-your-amazon-seller-account
Seller_AaTSN0AimLp9O
Their likely takeover by a Chinese Financial Company owned by Alibaba might influence your decision too.
Seller_BgKbtb0cerTCs
We used them for 4 years the service has gotten so bad that we were being ignored, told we were not worth their time as they focus on big currency deals not e-commerce and they got to the point where they locked our account and would only let us draw funds once over a 1000 in each currency not on a daily basis and should be allowed. Also they funds take about 3 days to clear in WF and then another 2-3 days to clear in the bank so about 7-9 days to get your money from them. Also they do require a pile of paper a mile high, which is not an issue but is to be noted ahead so you can get it all ready for their compliance team.
Seller_ORSX1h27HiEvy
try ofx.com - dedicated EUR and USD accounts , instant payouts.
Seller_ka94fhfBAXtNr
Used World First for a while until issues with account which they could not sort out .
Now using Payoneer and so far excellent service.
Seller_vIpv9uvBH6CFY
We use currencies direct and I’m quite happy with them. No problems since we started, and you can do as many withdrawals as you please. EDIT 2019: CURRENCIES DIRECT RESTRUCTURED I NO LONGER USE THEM AND I NO LONGER RECOMMEND THEM! THEY ARE AWFUL NOW!
The best thing to do is call around and see who will give you the best rate. Then call your favorite one back and ask if they can match it. Currencies direct started us off at 2%, but world first offered 1% so we asked CD to match it, and they did.
The Chinese are currently buying out World First, I believe it’s Alibaba or Alipay that will be acquiring them.
Also there’s word of a new one lately, payoneer, but I can’t comment there as I have no experience with them.
These forexes are all DEFINITELY worth it though, Amazon gives horrible exchange rates!
Seller_BgKbtb0cerTCs
Well we closed our account 3 months ago because they are terrible and rude.
I now have no issues an am very happy with my Bank!
Also I found they were generous with the exchange rates at the start but have now even become on par with the bank and for less hassle I prefer my bank.
If they never asked you for Company docs, VAT docs, bank statement and proof of residency then you are in breech of their rules and financial compliance laws.
Any way choose who you will but be forewarned!
Seller_BgKbtb0cerTCs
I have a payoneer account. Very easy to set up but again restrictions on withdrawals and extended time to clear in your bank about 3-4 days.
Don’t love them but not much experience with them other than a few months.
