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Opening a bank in a high-risk industry?
Do you have a business that is considered to be high-risk? And you cannot secure a bank account?
It is more difficult to open a bank account for a company in a high-risk industry, compared to companies in traditional industries. This is due to KYC/AML requirements typically set out by central banks and other regulatory bodies.
It is important to know that there are niche banks (both traditional and digital) that service high-risk industries. FirmEU can assist in laying out the banking options for companies in high-risk industries. If you want to speak to one of our consultants, contact us down below with the contact form
Companies in the following industries should not hesitate to contact us:
How FirmEU can assist
Companies that operate in high-risk industries typically have a hard time finding suitable banking solutions. For them, a digital bank that provides a specialized high-risk merchant account can be the optimal choice. These accounts are designed specifically for businesses with substantial monthly sales (over €20,000) or those that are located in high-risk countries. Traditional bank accounts usually aren’t suitable for such organizations, even though they may seem like an attractive option.
High-risk banking is easier to access when working with an Electronic Money Institution (EMI) since they perform their own risk assessment for businesses based on location, activities, and ownership structure. However, there will still be a list of prohibited countries when setting up the account, just like with any other banking institution.
How FirmEU can assist
A standard solution for these services is a niche digital bank (as opposed to traditional banks). But where are they, and how do they operate? FirmEU can assist you in this regard. We have a strong network of niche banking services per industry. FirmEU adds value by saving you time – we already have all the contacts and know-how when it comes to high-risk banking. This means that we will assist with filing the correct applications according to our experience, and providing the relevant documentation to our banking network. We work with the top banks in the world, and we have a wide range of banking solutions for clients in high-risk industries.
Finding it difficult to arrange a bank account for your high-risk business? Contact us with the form down below.
Partnership for Mutual Growth
At FirmEU, we believe that true success lies in building strong, collaborative partnerships with our clients, and working together towards growth and prosperity.
Active Banking & Processing Partners
WorldWide Banking & Processing Partners
Total Banking Jurisdictions
Succes Rate
We listen to your needs and goals, and work with you to develop a tailored and suitable plan for your business.
We handle the paperwork, legal requirements, and logistics to ensure your business operates seamlessly.
We provide ongoing accounting, tax compliance, and recruitment services to ensure your business runs smoothly.
We identify opportunities for expansion and provide the necessary support to help your business reach its full potential.
Any questions?
Fill out the form below, and we’ll aim to get in touch with you within 24 hours.
