Silverbird

Aida’s story has inspired all of us over at Silverbird. She partnered with the incredible Ghanaian women who handcraft shea butter and began selling it all over the world. But banks kept on rejecting her. Orders were piling up. She lost hope and nearly closed down the business. This is how she turned to Silverbird. We’re so proud to tell her amazing story. Check out the full story in our cards!

At Silverbird, we sought a KYB solution provider with a wide coverage of geographies. Kyckr provide real-time company registry information specific to the countries that we were looking to onboard clients from, and conduct due diligence on key personnel of businesses. Which is to say: partnering with them was a no-brainer. Together, we're on a mission to provide financial services seamless for entrepreneurs around the globe.

Can non-residents open a Hong Kong bank account? Yes, but it’s complicated. If your home bank has a presence in both the UK and Hong Kong — HSBC, for instance — you can theoretically do it. But you’ll still have to verify your identity in Hong Kong. If that doesn’t apply to you, there’ll be a few roadblocks in your way. First, non-residents usually need to provide proof of residence in Hong Kong, which automatically rules them out. Due to Hong Kong’s strict anti-money-laundering regulations, you can’t open a traditional business bank account in Hong Kong entirely online — your physical presence is usually required. Non-residents will need to provide proof of address, a valid visa permit, and identity documents like a passport. Some banks will also require a fully-fledged business plan and proof of income. If that sounds like one big headache, then open a multi-currency account online with Silverbird, and enjoy all the benefits of a traditional bank — just without the paperwork.  

Got 5 minutes? Read this interview with our intrepid CEO, Max Faldin, who sat down with Fintech Silicon Valley for a wide-ranging discussion of everything from Keyna rice exporters to AI to why he renounced his Russian citizenship.

Tuum = the titanium turbocharger of our engine. This case study, perfect for all fintech aficionados, tells you precisely how they accelerated our growth to 400%.

Great to see our very own Jekaterina Orlova delivering some of her razor-sharp insights at Bayes Business School!

The story of this 1,500-year-old statue stands for everything we believe in at Silverbird.

Silverbird has no maximum transfer limits. End of. Unlike other online payment providers, Silverbird is primed for the demands of cross-border trade. In other words, our compliance architecture was built to enable high-value transfers. That’s why 94.5% of our high-value transfers are frictionless — which means no delays, and no frozen accounts. 

Why does China have two currencies? China has two currencies, the Renminbi (RMB) and the Yuan (CNY). The Chinese Renminbi (RMB) is used for domestic transactions within Mainland China, whereas the Chinese Yuan (CNY) is used for international transactions. But why? In short, to regulate the exchange rate and control foreign investments. In the 1990s, western investors flooded the Chinese market with capital when China developed into an industrial powerhouse. China’s banks decided to trade the CNH currency in 2004 to ease the process and protect the nation’s growth from outside volatility. The CNY limits how much exposure Chinese businesses have to foreign capital investments and encourages Chinese buyers to shop at Chinese companies. 

Around half of global payments above 10,000 USD get flagged as suspicious and are therefore delayed. Global SMEs can’t afford this — they need to make frictionless, fast high-value payments. So, what’s the best way? Debit and credit card payments are popular but expensive with all the service and data processing fees. Plus, the bigger the payment, the more likely it’ll be delayed. E-wallets are versatile and ideal for consumer spending, but extremely expensive if you’re sending high-value transactions. Multi-currency accounts allow you to store, send and receive multiple currencies. Some, like Silverbird, are designed for high-value payments, so roughly 94% of payments are frictionless. Bank transfers are safe, and fairly frictionless if both sender and receiver share the same bank. If not, they’re slow and expensive."