Bank account for gambling affiliate company

[Kamelia]

Hello,

I have a company registered in Republic of Georgia. We do affiliate marketing in the online gambling industry and get money from companies like bet365 and William Hill.
I am looking for a bank outside of Georgia that understands what affiliate marketing is and won't treat me like a criminal.
I took the time to search on the forum but most banks recommended here are for darker activities and therefore I was hoping to find a more trustworthy institution.

Your help is much appreciated.

P.s - never bank in Georgia if peace of mind is important to you.

 

[negon]

You may already know that gambling (regardless if it is affiliate or not) is unacceptable business for most banks! Unless you have a license or a very good business description including contracts with the companies you work for this is almost hopeless.

What people do is to connect a EMI account inbetween to avoid the bank to know what activity they are into.

 

[happyjohn]

You want to open worldocre or leupay account to receive the payments and then transfer them to your regular bank account!

I have tried to apply for a bank account with some gambling affiliate business and got rejected all the time.

 

[Kamelia]

Thanks for the answers, it is much appreciated!
I have several more please:

1. Would worldocre or leupay mind that the money is coming from gambling companies?
2. Do you think I will need to provide supporting documentation for some transactions? Contract/Invoice?
3. Would you be comfortable moving six figure transactions in and out with these guys?

Many thanks!

 

[attheshore22]

@happyjohn on LeuPay site they actually say that their service is not to be used for gambling purposes www.leupay.eu/en/legal - Same for worldcoure.eu although they specify that you have to have a license for it, which makes sense.

 

[Kamelia]

My conclusion for other gambling affiliates - just go to a gambling friendly jurisdiction where banks are familiar with the industry and won't treat you like a money launder.
You might end up paying more taxes and fees but you'll have peace of mind and be able to bank with reputable institutions.

You don't want to make six figure transactions with LeuPay and Worldcore. There are countless customer reports online of clients who got their accounts frozen over much less.
You don't have proper support as you would have with a bank and no where near the stability of the institution.
These solutions might be good for desperate folks running shady stuff, but if you run a legitimate business then just find a friendly jurisdiction to incorporate and bank.

 

[attheshore22]

@Kamelia I completely agree with you. The only issue is that the license in these gambling friendly jurisdictions could be very expensive. Did you have any particular jurisdiction in mind?

 

[uplana]

@Kamelia I completely agree with you. The only issue is that the license in these gambling friendly jurisdictions could be very expensive. Did you have any particular jurisdiction in mind?

I'm sorry to reopen this very old thread, however, what was the outcome, in 2022 do we have any EMI or Bank that will open accounts for licensed Gambling ? What about unlicensed gambling, any chance to get something working with an EMI ?

 

[BlueMist]

I'm sorry to reopen this very old thread, however, what was the outcome, in 2022 do we have any EMI or Bank that will open accounts for licensed Gambling ? What about unlicensed gambling, any chance to get something working with an EMI ?

Affiliate businesses should not have issues opening account with Finductive EMI in Malta. The people behind are from the gaming businesses themselves.