Businesses we cannot onboard

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.