While FernHQ provides a platform for global money movement, some users have raised concerns about transaction delays and limited customer support, leading them to explore other solutions. This guide will explain what FernHQ is, detail the reasons you might look for an alternative, and present other options to consider based on your specific requirements.
What is FernHQ?
Founded in 2023, FernHQ is a New York City fintech company enabling global money movement across fiat, crypto, and traditional bank rails. Its core offerings include an API for developers and a business product that serves as an on-chain bank account replacement.
The platform is recognized for its user-friendly interface and its straightforward integration of crypto-to-fiat payments. It also provides automated bridging and compliance tools to simplify cross-border transactions for its users.
What to Consider When Selecting a FernHQ Alternative?
When evaluating alternatives to FernHQ, it's important to weigh several factors to find the best fit for your business needs:
- Crypto and Fiat Support: Assess the platform's ability to handle transactions across both digital currencies and traditional banking systems.
- Customer Service Quality: Investigate the responsiveness and effectiveness of the support team, as this can heavily impact your operational efficiency.
- Pricing Model: Compare subscription-based fees against pay-as-you-go or transaction-based costs to determine which structure aligns with your budget.
- Core Functionality: Determine if the platform is built for general international payments, specialized Web3 operations, or freelance invoicing.
- API and Integrations: Check for available APIs for custom development or pre-built integrations with essential business software like accounting or HR platforms.
If these considerations strike a chord, explore the detailed breakdown of top alternatives in the next section.
10 Best Alternatives to FernHQ
1. OneSafe
At OneSafe, we provide a finance platform built to modernize banking for businesses, with a special focus on the Web3 and crypto industries. We equip companies with the tools for straightforward fund management and quick payments across both traditional and digital assets.
Our platform facilitates direct 1:1 conversions from USD to USDC on Polygon, simplifying payroll and expense management for global teams. Businesses also gain from our end-to-end expense management, rapid account setup, and responsive customer support tailored to the digital asset space.
Pricing
Here's a glance at our straightforward pricing structure:
- Free: Account opening, maintenance, and card issuance, with no monthly subscriptions or minimum balance requirements.
- 0.1% per transaction: For domestic US transfers (ACH & wires) and USDT transactions.
- 0.2% per transaction: For SEPA payments in EUR. International wires are 0.2% plus a $50 SWIFT fee.
- $25 flat fee: For all US domestic Fedwire transfers.
- Included with market rates: Fiat-to-crypto conversions are handled at market rates with no hidden fees.
Reviews
Users consistently praise our exceptional customer support and our platform's ability to resolve complex banking and payroll challenges, especially for Web3 organizations.
- Amit Chu, Investments @ Celo Foundation: “OneSafe has the best customer support I've ever experienced from a bank.”
- Marco, CEO of Ensuro: “OneSafe is a game-changer. They solve so many headaches for our company. Finally a banking solution that gets it.”
Want a banking solution that gets it? Check us out here.
2. Credem
Credito Emiliano S.p.A. (Credem) is an Italian bank established in 1910, with its headquarters in Reggio Emilia. The institution provides a range of financial services, including retail and corporate banking, insurance, and investment solutions through its specialized divisions.
Credem operates with a distinctive approach to lending, at times accepting wheels of Parmigiano Reggiano cheese as collateral. This practice illustrates its alternative methods within its banking operations.
Pricing
Here's their pricing at a glance:
- Starts from €4 per month Account Maintenance: Fees for account upkeep begin at this rate.
- Free Card Issuance: There is no charge for issuing new cards.
- Custom Investment Services Pricing: Fees for investment solutions are determined on a case-by-case basis.
- Free ATM Withdrawals: No fees are charged for withdrawals at Credem ATMs.
Reviews
User feedback often points to issues such as delays in receiving debit and credit cards, a lack of digital card options, and concerns about the responsiveness of the bank's support. Check out more Credem reviews here.
3. Revolut
Revolut is a British financial technology company established in 2015 by Nikolay Storonsky and Vlad Yatsenko. It provides a variety of banking services, such as current accounts, debit and credit cards, stock and crypto trading, and peer-to-peer payments.
The platform allows users to manage and exchange over 25 currencies at the interbank rate, supporting both local and international money transfers. It also provides team management tools, including the ability to issue physical and virtual cards with spending controls and integrations with accounting software like Xero and Sage.
Pricing
Here's their pricing at a glance:
- From £10 per month Basic Plan: Provides essential features for running a business.
- From £30 per month Grow Plan: Offers additional tools to manage spending and operations.
- From £90 per month Scale Plan: Designed for businesses with higher transaction volumes and advanced needs.
- Custom pricing Enterprise Plan: Tailored to specific business requirements.
Reviews
User feedback points to challenges with customer support, account verification difficulties, and the absence of features like direct debits or scheduled payments. Check out more Revolut reviews here.
4. Bunq
Bunq is a Dutch fintech company founded in 2012 by Ali Niknam, offering mobile banking services across 30 European countries. It provides both personal and business accounts that come with features such as multiple International Bank Account Numbers (IBANs), multi-currency support, and a public API for developers.
The company has a sustainability initiative where it plants a tree for each level set according to the subscribed rate plan and enables customers to invest in environmental projects. The platform also includes budgeting tools, cryptocurrency exchange, and various investment options.
Pricing
Here's their pricing at a glance:
- Free bunq Free: Free for sole proprietors, includes 3 bank accounts with IBANs.
- €7.99/month bunq Core: Includes 3 bank accounts with IBANs.
- €13.99/month bunq Pro: Includes 5 bank accounts with IBANs.
- €23.99/month bunq Elite: Includes 25 bank accounts with IBANs.
Reviews
User feedback indicates a range of experiences, with some customers reporting issues related to customer support responsiveness. Other reported challenges include difficulties in resolving problems and unexpected fees. Check out more Bunq reviews here.
5. VIALET
VIALET is a Lithuanian Electronic Money Institution (EMI) established in 2017, providing digital banking services for small and medium-sized enterprises. The company offers dedicated International Bank Account Numbers (IBANs) for SEPA, SEPA Instant, and SWIFT transactions, along with card processing solutions for corporate clients.
The platform supports C2B, B2B, and B2C payment methods and furnishes banking APIs, mass payouts, and third-party integrations for global SMEs. It also accepts payments to and from cryptocurrency processors and provides accounts for EU-licensed crypto exchanges.
Pricing
VIALET does not make its pricing information public on its website. To receive pricing details, businesses must complete an application, after which a price list is provided, with final fees subject to customization.
Reviews
User reviews mention instances of unprofessional behavior and poor customer service, as well as difficulties with the account opening process due to lengthy response times and excessive information requests. Check out more VIALET reviews here.
6. Finom
Finom is a European financial technology company founded in 2019, providing digital banking and financial management services for small to medium-sized enterprises and freelancers. The platform offers online account opening with local IBANs, invoicing, accounting integrations, and expense management.
It issues free physical and unlimited virtual debit cards, offers up to 3% cashback on business purchases, and supports multiple currencies for international payments. Finom aims to streamline financial operations for businesses across Europe through its user-friendly interface and customer support.
Pricing
Here's their pricing at a glance:
- Free Solo Plan: For freelancers and self-employed individuals, this plan includes one user and basic invoicing features.
- €9 per month Start Plan: Includes two users and advanced invoicing features for small businesses.
- €28 per month Premium Plan: Offers five users along with invoicing and accounting integrations.
- €149 per month Corporate Plan: Provides ten users with advanced invoicing and accounting capabilities.
- €339 per month Enterprise Plan: Includes fifteen users and all features available in the Corporate plan.
Reviews
User feedback indicates some customers have experienced issues with account management, including unexpected closures and difficulties with transaction processing. Other reported challenges include concerns over fees and delays in accessing funds. Check out more Finom reviews here.
7. Wise
Wise, formerly known as TransferWise, is a UK-based financial technology company founded in 2011. It specializes in international money transfers by using the mid-market exchange rate.
The company offers a multi-currency account that allows users to hold and manage funds in over 40 currencies, complemented by a debit card for worldwide spending. Its services cater to both individual and business needs through its Wise Business and Wise Platform divisions.
Pricing
Here's their pricing at a glance:
- Pay-as-you-go: The platform operates on a model with no subscriptions or monthly fees.
- From 0.57% per transfer: Fees for sending money vary by currency.
- $9 for Multi-Currency Card: A one-time fee is charged for the card.
- $31 for Business Account Details: A one-time setup fee for businesses to receive account details.
- Free to hold funds: There are no fees for holding money in the account.
Reviews
User feedback indicates a range of experiences. Some users have reported issues with account freezes, delayed funds, and unresponsive customer support. Check out more Wise reviews here.
8. Moss
Moss provides a technology-based solution for expense and financial management intended to organize company spending. The platform is built to help businesses oversee their financial workflows.
It offers both virtual and physical corporate cards with adjustable spending limits and automates invoice handling in over 70 currencies. The system also integrates with accounting software, digitizes employee reimbursement claims, and provides centralized purchase controls.
Pricing
Moss does not publicly disclose its pricing information. Businesses must contact the company directly for a personalized quote, though a free trial is available.
Reviews
User feedback points to some feature limitations, particularly in the customization of approval workflows and reporting filters, while some users have also mentioned that support response times can be slow. Check out more Moss reviews here.
9. Propulse by CA
Propulse by CA is an online banking and management platform designed for entrepreneurs, freelancers, and small businesses. It provides users with an online business account that includes a French IBAN and a Visa Business card.
The platform offers tools for automated invoicing, expense management, and connections to accounting services. Additionally, it allows for URSSAF declarations directly through the application and includes insurance with its payment cards.
Pricing
Here's their pricing at a glance:
- €8 per month Starter Plan: The company's entry-level subscription.
- €17 per month Start+ Plan: The company's higher-tier subscription.
Reviews
User feedback indicates some customers have experienced poor service quality and challenges reaching support, leading to delays in account creation and issue resolution. Check out more Propulse by CA reviews here.
10. Countingup
Countingup is a UK-based company founded in 2017 that offers a business current account combined with integrated accounting software. This integration is intended to allow small businesses to manage their finances within a single application.
The platform provides tools for instant invoicing, automatic expense categorization, and receipt capture. It also offers real-time tax estimates and live business insights to help automate financial administration for business owners.
Pricing
Here's their pricing at a glance:
- £3 per month: For total monthly deposits up to £750.
- £9 per month: For total monthly deposits between £750 and £7,500.
- £18 per month: For total monthly deposits exceeding £7,500.
- Transaction Fees: Charges apply for transfers, ATM withdrawals, and foreign transactions.
- Three-Month Free Trial: A trial period is available to test the service before a subscription begins.
Reviews
User feedback indicates some customers have experienced issues such as account suspensions and delays in fund transfers. Other reported challenges include limited customer support options, with some users noting the absence of phone support and slow response times. Check out more Countingup reviews here.
Which One Should You Go With?
Selecting the right financial partner depends on your specific business needs, and any of the platforms listed offer solid features. If you're looking for a modern banking solution that truly understands the digital asset space, we believe OneSafe is an excellent alternative. Ready to see how we can solve your financial headaches? Sign up for OneSafe today.
