What this is
Opening and keeping an operating bank account for a virtual-asset business.
Why it is harder than the licence
Because a bank makes its own risk decision and is supervised on it. A licence is a precondition, not a decision. Banks apply enhanced due diligence to virtual-asset clients as a matter of course, and a file that is merely complete is not the same as a file that is persuasive.
What the work involves
Assembling the ownership chain to natural persons. Documenting source of wealth and source of funds to a standard that will survive a sceptical reader. Explaining the transaction monitoring design in terms a credit committee can follow. Preparing the business narrative. Making the introduction and handling the questions that come back.
When a bank declines
Regulated electronic money institutions and payment service providers are sometimes a workable alternative, with limits that should be understood before they are relied on rather than after. We will say when that is the realistic route.
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Can you guarantee an account?
No. What we can do is make sure the file is not the reason for a refusal, and tell you honestly when the structure itself is the obstacle.
Quellen
- Scope of work described here reflects our practice, not a regulatory requirement — Regulatory statements on these pages carry the same review status as elsewhere on the site