Businesses we cannot onboard
Written by Pomelo Pay
Updated over a week ago

Customers are screened at onboarding to ensure we can provide our product and services for their business. We would love to help as many businesses as possible; nonetheless, we had to place certain restrictions to comply with regulations.

We can only onboard businesses that meet the following criteria:

  • registered business in the UK

  • a valid UK banking account for the business

  • business tenure of more than 1 year

  • applicant is at least 18 years old with a permanent UK home address

Supporting documents must be provided for all owners and shareholders:

  • A valid national identity card, driver’s license or passport

  • proof of personal address (if different from ID)

At times, we may ask for other supporting documents if we are unable to complete automated verification.

Restricted industries include:

  • Adult services, dating or escort services

  • Gambling, lottery or betting services

  • Financial services, investment, insurance, loan, or banking businesses

  • Currency exchanges including virtual currencies, and money services business

  • Sale of narcotics

  • Auction/pawn services

  • Real estate

  • Sales of arms, weapons, military equipment, explosives, batons, fireworks, firecrackers.

  • Precious metals and stones (eg. jewellery)

  • Scrap metal

  • Waste management

  • Sales of any psychotropic or prohibited medicines

  • Plastic surgery

  • Crowdfunding

  • Peer to peer lending

  • Trading in invoices and virtual currencies

  • Pyramid schemes and multi-level marketing

  • Gold investment

  • Sale of personal information/products that infringe on personal privacy

  • Handling any hazardous, poisonous or dangerous chemicals

Business types that we also cannot onboard include:

  • Partnerships, including Limited Liability Partnerships (LLPs)

  • Limited companies by guarantee

  • Charities

  • Community interest company (CIC)

  • Clubs or other non-registered organisations

  • Trusts, funds or Special Purpose Vehicles (SPV)

For more information on how our compliance process works, click here.

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