Opening an account for high-risk business: A free consultation

There are certain types of businesses that banks consider high-risk and thus they blatantly deny services to them. This concerns perfectly legal and profitable businesses too. We can help you establish an account even if you deal in Forex, cryptocurrencies, money exchanges, ICO fund raising, provide payment services, create electronic wallets, of even if you are an Offshore Company Formation Agent.

The problem of high-risk businesses

Banks qualify some businesses as high-risk or extremely high-risk. The risks are usually associated with potential money laundering, fraud, of terrorism financing. 

This group also includes casinos, start-ups, online traders in specific goods, and adult services.

Every financial institution will define the level of risk it is prepared to take. Some banks will cooperate with high-risk companies if the latter make large deposits. Others will take up such clients if they trust the client identification system.

However, there are companies that deal in the business areas that are thought too risky. Local and international legislations make banks deny services to those or otherwise, they put forward conditions that cannot possibly be satisfied. 

Notwithstanding these hard restrictions, even a high-risk company can establish an account with our assistance. But this is not going to be a bank account but rather an account with a Payment Service Provider (PSP).

Payment systems come to the rescue

Today, you can acquire financial services and products not only from traditional banks but also from payment systems. The latter can open accounts for you, manage them, let you make and receive payments, and so on. Some platforms even provide for credit opportunities similar to those that you will find in the banks.

A wide range of different payment systems exists today. Everybody will have probably heard of PayPal or Payoneer but there are several dozen PSP’s most people have never heard of.

At the same time, these less-known payment systems have wider perspectives and more opportunities for business development.

Many business people have faced problems when using PayPal and other suchlike systems. They work well enough until you reach a certain threshold whose level is quite low, as a matter of fact. For large volume transactions, they are unfortunately useless and besides, their support teams can hardly be ever reached.

The PSP’s that we are offering for your consideration are essentially the modern versions of traditional banks. They provide all the basic financial services. What is also important is that some PSP’s provide for the possibility to obtain an IBAN (International Bank Account Number) – just like ordinary banks.

This means that you can bill your clients without any risk for your business reputation. What the client will see on the bill is a normal bank account number.

There is one more interesting characteristic that payment systems possess: they do not automatically exchange the account holders’ financial information. Unlike the banks, they are not yet required to do so and thus, even a passive business can make profit without worrying.  

Let us list the main advantages that make modern payment systems especially attractive for high-risk businesses.

  • With our help, you can find a PSP that will open an account for you even if you have a high-risk business;
  • It does not take weeks nor months to establish an account with a payment system: your account will normally be opened within one to ten working days;
  • You can open an account remotely;
  • You will have access to the financial instruments that you need, such as SWIFT transactions or online transactions, for example;
  • You can obtain an IBAN with some PSP’s that we work with;
  • A considerable number of additional services are also available;
  • You will enjoy high transaction speed and lower transaction commissions (for instance, a transaction within Eurozone will cost you 19 or even 16 cents instead of the usual 36 cents);
  • It is possible even for a high-risk business to obtain services from a payment system.

We can select a PSP to open an account with for companies dealing in the following areas:

  • FOREX;
  • Cryptocurrencies (including cryptocurrency exchange services);
  • Payment Service Provides;
  • Offshore Company Formation Agents;
  • Electronic wallets;
  • Trusts and trustees;
  • Trade in, and storage of, precious metals;
  • Online shops trading in non-standard goods;
  • Any other companies that traditional banks will deny service to.

PSP limitations

The first thing to understand is that your business must be legal even though risky. We do not provide services to illegal or ‘grey’ (semi-legal) firms and neither do the payment systems that we cooperate with.

Secondly, notwithstanding the more relaxed requirements in comparison to the banks, PSP’s also check their prospective clients. The laws oblige them to do so and they have to meet these obligations. They have regulating authorities above them and they have to follow the requirements that are becoming tougher and tougher all the time.

Thirdly, as accounts are opened remotely, the most demanding application stage is document collection and preparation. Without a properly compiled set of documents, you will be unable to establish an account with a payment system. If the documents contain errors or incomplete data, you will not be able to establish the account either.

In addition to that, each PSP will have their own requirements and procedures as well as the image of the perfect client. This is why we are offering our services to you: we will suggest the payment system(s) that are most likely to open an account for you and keep in functional in the future.

In order to acquire professional consultation on setting up an account with a payment system please fill out the questionnaire that you can find below. Your detailed and honest answers will let us choose the solution(s) that will work best for you personally.

In case you have any questions left, please contact us via e-mail without hesitation.

Поля, помеченные символом *, обязательны к заполнению