Mentor Group Gold
Medical equipment is considered high-risk by financial institutions due to the heightened liability companies may face.Hi Thanks for your reply. I sell medical devices. I don't think this is a "risky" business.
If you do business in MENA, try Turkish Bank (https://www.turkishbank.co.uk), Zenith Bank (Welcome to Zenith Bank UK), Europe Arab Bank (Europe Arab Bank), Union Bank, and Ahli Bank UK. Those are the banks I tend to see the most when it comes to EMEA/MENA businesses in UK that for one reason or another have no success with the big banks.
You can try EMIs like TransferWise and WorldFirst, but have a discussion with them first to make sure that your business model is in line with their AUPs. Medical equipment is a broad term and can include everything from surgical equipment to gloves to respirators and large machines.
It won't hurt to try the others but if Barclays said no, chances are that the other high street banks will as well. It's an unfortunate reality that having a Lebanese passport puts you in an elevated risk category. Combine that with doing business in regions that are also considered high-risk selling goods/services that as well are deemed risky, and it's going to be a tough sell.
Your chances may increase if you are able to sit down with the bank (over a call, if in-person meeting isn't an option) and explain your business in detail. Cold applications submitted online tend to be rejected more often than those preceded by a dialogue.