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Industries that may cause our banking partners to raise an eyebrow

Some of our banking partners have a list of activities that are forbidden or limited.

If your business is engaged with one or more activities from the list below, you may find it difficult to open a bank account:

  • Adult content.

  • Alcohol businesses.

  • Tobacco products.

  • Cannabis, legal marijuana trade.

  • Products containing CBD.

  • Online pharmacies.

  • Prescription-only pharmaceutical drugs.

  • Chemicals.

  • Counterfeit or unauthorized goods.

  • Unauthorized sale of designer and/or brand products.

  • Sale of illegally imported or exported goods.

  • Gambling.

  • Lotteries.

  • Fantasy sports with cash prizes.

  • Any type of gambling payments or businesses related to Turkey, the United States, Canada, the United Arab Emirates, or Singapore.

  • Intellectual property or proprietary rights infringement.

  • Binary options.

  • Escrow services.

  • Companies involved in the exchange or trading of cryptocurrencies, or any other virtual currencies.

  • Marketplaces from countries outside of the European Economic Area and/or European Union or the United States.

  • Money service businesses, or any businesses that carry on the activity of:

  • Operating a bureau de change or currency exchange service.

  • Transmitting money, or any representation of monetary value, on behalf of third parties.

  • Cashing cheques.

  • Payment processing.

  • Platforms that allow the trading and/or exchanging of FX/CFD/options.

  • Shell banks.

  • Superannuation funds.

  • Syndicates.

  • Trust and corporate service providers that are involved in:

  • Opening accounts on behalf of other businesses.

  • Offshore company formation.

  • Using nominee directors and/or shareholders to obscure company ownership.

  • Any other financial services operating without a license where one is required

  • IPTV and VOIP services.

  • Individuals, entities, or countries subject to international sanctions.

  • Weaponry, military and semi-military goods and services.

  • Weapons (including weapons of historic significance), military software, or any other goods or services intended for military use.

  • Nonprofit organizations and charities from countries outside of Canada, European Economic Area and/or European Union, Switzerland, USA, Australia, or New Zealand.

  • Unregistered charities not supported by any region.

  • Trusts and foundations from countries outside of Canada, European Economic Area and/or European Union, Switzerland, USA, Australia, or New Zealand.

  • Trade of restricted and/or endangered animal species and products derived from them.

  • Multi-level marketing, pyramid schemes, get rich quick schemes, referral marketing.

  • Including any other services promising unreasonably high rewards.

  • The United Arab Emirates-based oil, gas and shipping companies, as well as related activities.

  • Businesses with relations or activity directly or indirectly linked to Cuba

  • Surrogacy businesses.

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