Restricted Business Activities

Last Updated: 2020-06-25

Businesses undertaking the following activities are restricted from opening a business account. In certain cases, business undertaking the activities listed may be eligible for an account with explicit prior approval from Note, however, that businesses that offer illegal products or services are never eligible for a account. The activities listed are representative but not exhaustive. If you are uncertain as to whether your business is undertaking a restricted activity, or have questions about how these requirements apply to you, please contact sales.

  • Money services
  • Digital/virtual currency
  • Real estate transactions
  • Timeshares
  • Pawn brokerage
  • Antique dealing
  • Precious stones/metal transactions
  • Firearm or military activities
  • Drug trafficking
  • Pay-day lender transactions
  • Shell companies (companies that company formation businesses have set up and not transferred the ownership to a trading business yet)
  • Adult entertainment
  • Pharmaceutical company selling retail prescription drugs
  • Regulated entity holding client funds