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:
Alcohol
Carbon credit traders
Cash and check handling, deposit taking, cash transfer
Casinos/ internet gambling,CBD and related products
Charities/ Non-for-Profit organizations
Cryptocurrency/ Virtual currency/ Stored value facility providers/ Blockchain (i.e., NFT etc.)
Drug paraphernalia
Energy traders
Financial pyramid or Ponzi schemes
Gambling and betting/ gaming activities
High-value goods dealers
Minerals and Natural Resources
Mining, not limited to precious metals or stones
Money service businesses (i.e. money changers and remittance agents)
Oil, gas, and chemical import/ export companies
Operating a business that requires a license or special permit without obtaining such a license (i.e. unregulated auction houses)
Pawnbrokers
Precious metals and stones dealers/ traders - including diamond traders
Private military firms
Production of adult or violent content
Production or distribution of arms or ammunition
Provision of Financial Services (e.g. Fund/Asset/Investment Management Companies) that require licensing from regulators
Sale or distribution of stolen goods (i.e. digital and virtual goods), counterfeit goods and violation of intellectual property, or items that violate individual privacy
Sanction list inclusions (global)
Selling, hosting, distributing, producing, or promoting offensive materials (i.e., that incite or promote racial hatred or discrimination based on gender, race, religion, national origin, physical ability, sexual orientation, or age)
Scrap metal traders
Tobacco/ Cigar/ Electronic Cigarette/ Nicotine content products
Transactions involving human organs
Unauthorised re-sale of luxury goods - including watch traders.
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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