Costa Rica gaming company - where and how to open proper bank account for it?

[crlogic]

So I have structured Costa Rican company for online gaming/sports betting purpose.


I already arranged merchant account with credit card processing solution.


Payment processor told me that now I need bank account where will receive funds on weekly basis.


Could you advise me in which jurisdiction should open bank account which will allow gaming transactions and which banks that would be?


Also what is proper procedure to get it?


I am thinking for Malta bank account, but I dont think each bank in Malta will accept my applicaton.


We all know Costa Rican company is tricky one.


Please help me on this bank account issue!

 

[JohnLocke]

Isn't there an option to open a bank account in Costa Rica? That would be the best I think.


Actually it is tricky to open a bank account for such business in Europe for a Costa Rica company involved in Gambling, you won't find any bank that will open an account for such business in Europe without the company to hold a license!


If you find a solution please let us know about it, otherwise I hope other forum mebers may shed some light

 

[crlogic]

Yes, I already have Costa Rican bank account from before, but it is not good for gaming transactions and deposits from gaming. If I would do that with Costa Rican bank account they would close my account.


So need to have some better option for that purpose.


I have a lot of contacts in that matter lately and I found proper solution actually. There is a solution with one swiss bank to open bank account and everything is fine according to contact I spoke with regarding that matter in legal and practical aspect. And they have like big experience in this field and history of opening those bank accounts for other clients in gaming business and everything is running smoothly according to them.


If someone is searching for that kind of solution I would be glad to help as I know how hard this is to arrange.

 

[JohnLocke]

You are more than welcome to post a lin or simply the domain to the bank you mentioned... would help others alot. Also, once the account is operative, please post how it went out and if it works well for you.

 

[sidneivl]

Bank account to gambling


Hi crlogic,


I'm oppening my company in costa rica and my bank account to receive money is in st. vicent and the grenadines. The bank name is loyal bank.


Have you another one?


What merchant account with credit card processing solution have you use for it?

 

[JohnLocke]

Welcome Sidneivl, I assume the bank you mentioned is this one, plugin can you let us know how the bank account opening went out for you, is it difficult, what requirements do they have and are there any min. balance to be maintained? Further how long does it take from start to the bank account is operative?

 

[tiea-hunter]

I'm interested to know how the process with the bank account opening with this bank was, please share what you know ?

 

[philippu]

Dear Crlogic,


We are in the same shoes as you but have found it almost impossible to find a credit card processor, Loyal bank is said to be very good for Costa Rican companies.


Could you tell me who your credit card processor is? I would greatly appreciate it.


Thank you, I will tell you how our search for a offshore bank account goes. BTW I do not recommend Switzerland, having gone to several banks the regulation and scrutiny is getting very heavy there, not to mention the fees being very high.

So I have structured Costa Rican company for online gaming/sports betting purpose.
I already arranged merchant account with credit card processing solution.


Payment processor told me that now I need bank account where will receive funds on weekly basis.


Could you advise me in which jurisdiction should open bank account which will allow gaming transactions and which banks that would be?


Also what is proper procedure to get it?


I am thinking for Malta bank account, but I dont think each bank in Malta will accept my applicaton.


We all know Costa Rican company is tricky one.


Please help me on this bank account issue!

 

[JohnLocke]

For payment processing needs for Costa Rica companies and shady business activities you may approach High Risk Merchants Accounts - Competitve Rates - OMNIPAYMENT: MasterCard, Visa, Credit card, Debit card, Offshore merchants, Offshore account, Offshore banking, it will require to have some substantial volume. Worth to try.

 

[pipona]

Has anyone come up with a solution for a bank account for a Costa Rican gambling company?


The person above who is using Loyal Bank is breaking their terms and conditions, so I don't consider them an option for me:


"will be free from money laundering and terrorist financing, gambling, gaming, adult ... activities and any other business activity prohibited by Loyal Bank policy."

 

[Zqq]

Getting a bank account for a gambling company comes down to contacts. I have been involved in Costa Rican gambling companies with bank accounts all over the world. Try banks in Panama, Antigua and Barbuda, Curaçao, and Bahamas. That's usually where Costa Rican gambling companies start. Forget local banks.