Verifo Reviews 26

I was recommended the company by friends. I needed European account because I travel to the EU a lot and I have European income.
I felt obliged to test the company and to report to friends. That is why all the hassle.
Having some experience with financial institutions I can say that the Verifo is much below standards.
Very slow in their due diligence. It took 21 day (!) for them to verify (and reject) my information, though I was sending them everything immediately.
Silly questions and unnecessary requests. Like they asked three months statement from biggest UK bank to be send in one consecutive pdf file not in three files. Though big banks normally issue statements monthly and I had to explain it to them. Pathetic!
I can't possibly understand why people would go to Veryfo if there is plenty of much better banks and companies.

Very bad experience, Be careful when applying to a business account they will ask you about your business transactions, and business partners details which doesn't sound right or legal when opening an account, I'm not asking for finance, I'm merely applying for a bank account for my company.. don't reccomend them at all.

I had a very poor experience with Verifo / Verified Payments UAB.

I paid €25,000 for what was marketed as a “white-label” / turnkey setup. Based on the sales discussions, I understood the structure would be workable from a compliance and regulator standpoint. In reality, it wasn’t.

After onboarding and trying to move forward, my application/structure was rejected by the Bank of Lithuania. I’m also aware of other buyers who paid similar amounts and were likewise rejected. The end result for me was a major financial loss, wasted time, and reputational risk.

Separately, the Bank of Lithuania’s public register lists a €110,000 fine and a warning issued to Verified Payments UAB (enactment date shown as 2023-04-25), related to AML/CTF compliance shortcomings. Seeing that public record added to my concerns about controls, transparency, and overall risk management.

When I asked for a clear explanation and a fair resolution, I did not receive a satisfactory outcome. My advice: do enhanced due diligence, get every promise in writing, and verify the regulatory pathway independently before paying anything.

Do not download they are scammers

Be careful! They lure you in into sending money into your account after verifying your identity and giving you an iban I sent almost 4k then they suddenly close and terminate your account and keep all the funds!!! They're fraudsters they don't provide real banking services They're just here to steal people's money! Be careful don't do the same mistake I did and I hope people won't fall for their scam in the future! And Where's interpol and the police! These people should be arrested!