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What business activity may not be considered high risk by banks?

blueweb

Corporate Services
Mentor Group Gold
Elite Member
I would like to start this thread to get a discussion about what industry and business category you think a bank would not consider to be high risk!

To start with I can tell you that most bank consider the so called broad word "E-Commerce / selling online stuff" high risk. The banks I have tried with in Cyprus, Malta and even some EMI's, they simply don't accept application any longer unless you can show them a really good business plan which may be better than good.

Do you have any suggestions on how to setup something they won't consider high risk?
 

lrotter

Active Member
Online education and training
Consulting
Legal advise
SEO and online marketing
Event management
 

Alex115

New member
Online education and training
Consulting
Legal advise
SEO and online marketing
Event management
Wow, you're kidding, right!?

Can anybody else chime in on this absurdity? @Martin Everson ? Do Banks really consider these "low-risk"? These are like the go-to setups for money laundering... I find it absurd that banks consider these "low risk" and Ecommerce "high risk".
 

Martin Everson

Offshore Retiree
Mentor Group Gold
Elite Member
Each time I check with a bank their list of high risk activity it is pretty much everything other than window cleaning and selling bedroom slippers.

Sorry I mistaken if you sell bedroom slippers to someone in Africa your business is now high risk.
 

lrotter

Active Member
Wow, you're kidding, right!?

Can anybody else chime in on this absurdity? @Martin Everson ? Do Banks really consider these "low-risk"? These are like the go-to setups for money laundering... I find it absurd that banks consider these "low risk" and Ecommerce "high risk".
Hey, Alex, this description is really consided like a low risk within higher risk group. What I mean, that if your business was really low risk, you would not even think about this question. If you are local business, with local director, with local suppliers and mostly local clients - welcome to your local bank, they are waiting for you :) if you need to be more creative - the list I mentioned works so far.
 
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