Sleek Business Account Eligibility
Why am I not eligible for a Sleek Business Account?
Sleek is a regulated Payment Service Provider by the respective Authorities. As such, we have strict guidelines regarding the type of industries, activities, and countries that we support. We may decline applications where it is deemed by us to be risky.
Sleek works closely with many other financial institutions, payment providers and regulatory bodies around the world. Sleek is thus subjected to each entity’s legal, regulatory, financial, compliance and security considerations, in addition to our own, to process payments on behalf of our clients. Businesses that offer illegal products or services are not eligible to use Sleek.
SBA is only eligible for all Sleek clients (current and recurring). However, you will NOT be guaranteed an account, and will still have to go through the stated regulation checks.
Prohibited jurisdictions
Sleek is unable to provide the use of our services for any dealings, engagement, or sale of goods/services linked directly or indirectly with the following jurisdictions Sleek has deemed to be Prohibited:
Afghanistan
Belarus
Central African Republic
Crimea
Cuba
Democratic People's Republic of Korea (North Korea)
Democratic Republic of Congo
Donetsk region of Ukraine
Iran
Iraq
Kherson region of Ukraine
Lebanon
Libya
Luhansk region of Ukraine
Mali
Myanmar
Russia
Somalia
South Sudan
Sudan
Syria
Venezuela
Yemen
Zaporizhzhia region of Ukraine
Any other country or jurisdiction that Sleek decides to prohibit, subject to its sole discretion.
Prohibited activities
The following types of businesses &/or activities listed are representative but not exhaustive:
Manufacture of Weapons and Ammunition
Social escort services
Massage parlours and foot reflexology
Manufacture of games and toys
Manufacture of pharmaceutical intermediates and fine chemicals for human use
Manufacture of pharmaceutical products and preparations for human use (e.g. tableted products)
Manufacture of pharmaceutical products for veterinary use
Manufacture of pharmaceutical intermediates and fine chemicals for human use
Manufacture of pharmaceutical products and preparations for human use (e.g. tableted products)
Manufacture of pharmaceutical products for veterinary use
Other activities auxiliary to financial service activities n.e.c. (e.g. mortgage advisory firms)
Property fund management (including REIT management and direct property fund management)
Collective portfolio investment funds with rental income
Private equity firms
Finance companies (with deposit taking functions)
Bank/Financial holding companies (including insurance holding company)
Storage for dangerous goods
Activities of professional membership organisations (e.g. medical associations, law societies, accountancy bodies)
Mutual benefits organisations
Other personal service activities n.e.c. (excluding online marketplaces)
Manufacture of cigarettes
Manufacture of tobacco products n.e.c. (e.g. cigars, loose tobacco)
Wholesale of tobacco products
Retail sale of tobacco products
Manufacture and repair of weapons and ammunition (e.g. ordnance and accessories)
Manufacture of military fighting vehicles
Manufacture of other chemical products n.e.c. (e.g. gelatin and derivatives, laundry blue, explosives, processed salts, industrial starch, incense and joss sticks, camphor products)
Wholesale of toys and games
Wholesale of photographic equipment and supplies (including binoculars)
Repair of other personal and household goods n.e.c. (excluding online marketplaces)
Publishing of games software/applications
Publishing of software/applications (non-games)
Research and experimental development on biotechnology (excluding medical science)
Trusts, funds and similar financial entities (e.g. collective portfolio investment funds (excluding those with rental income))
Single/Multiple family offices activities (e.g. managing investments and trusts for a single or multiple families)
Publishing of software/applications (non-games)
Publishing of games software/applications
Wholesale of cybersecurity software, hardware and peripheral equipment
Wholesale of computer software (except games and cybersecurity software)
Collection of waste
Production of advertisements, corporate videos and event videos
Manufacture of electrical machinery, apparatus, appliances and supplies (including sound or visual signalling apparatus, electrical insulators except porcelain or glass)
Wholesale of security and safety equipment
Any other category, products, or services that Sleek decides to prohibit, subject to its sole discretion.
Unsupported corridors
China
India
Pakistan
(Funds can be received from these countries but outgoing transactions are not currently supported.)
Any other corridors that Sleek decides to prohibit, subject to its sole discretion.
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