When it comes to bank and payments, it is important to choose the right option and not the easiest or cheapest one as it can cause unexpected problems and much higher costs than planned.
First, we decide what purpose the account will be used for:
- Client money (C2B)
- Company money to pay salaries and daily expenses (B2B)
Next, we will map the source of the expected receiving funds (GEO) for example, if we would like to have a bank account that can receive British client money, then we need to open a bank account in the UK (England, Ireland, Scotland, Wales) or other high-ranking countries such as Germany or France. This, of course, seems obvious but many companies choose to open their main bank accounts in Eastern Europe because of the low MDR and ‘loose’ regulation but then they find it easy to get money in but hard and sometimes impossible to take it out.
There are things that you can’t take shortcuts, a bank account is one of them. We at Mohaban Mor & Co. know how to adapt ourselves to every client based on his requirements and type of business in order to provide the perfect solution.
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