Eligible business types
The following businesses types are eligible for a wamo business account:
Limited Liability Company (LLC)
Public Limited Company (PLC)
Ineligible business types:
Self-employed, sole trader or freelancer
Charity
Cooperative
Public sector
Private foundation or trust
Other unregistered businesses
Eligible industries
Below is a list of industries that we are unable to open an account for. If unclear about your eligibility, please refer to the following list or reach out to us on our support via chat or by emailing support@wamo.io. We're here for you 7 days a week.
You will not be able to open a wamo business account if your business conducts any activity or business relating to the following industries:
Act as a wholesaler to cash-based money remitters, or offer downstream services to other PSPs beyond your original customer.
Act as a wholesaler to cash-based money remitters, or offer downstream services to other PSPs beyond your original customer.
Adult entertainment, products, or services including the production of Adult or Violent content
Anonymous or Numbered Accounts, Shell Banking Financial Services, Cash and Cheque Handling: Cheque Cashing, Deposit-Taking, Cash Transfer Credit repair, Debt Restructuring
Any industry is known to be an illegal industry in its local jurisdiction
Any products harmful to human health - tobacco, e-cigarettes and e-liquid CBD products
Cryptocurrency trading or other Cryptocurrency businesses
Dealers in precious metals and stones
Debt recovery, Debt settlement, Debt Collections
Financial institutions (e.g., MSBs, PSPs, or EMIs, etc.)
Financial Pyramid or Ponzi Schemes
Illegal Drugs and Narcotics
Lottery, Gambling, and Gaming, including payouts
Money Transmission services, where the originator or recipient of the payment is unclear;
Non-profit organizations, non-registered, and registered charities
Operating a business that requires a license or special permit without obtaining such a license (i.e., Unregulated Auction Houses)
Production or Distribution of Offensive Weapons: Ammunition, Firearms, Explosives, Complex Weapons (i.e., guided missiles), Poisons
Psychic services
Sanctioned individuals and entities
Selling, hosting, distributing, producing, or promoting offensive materials, including materials that incite or promote racial hatred or discrimination based on gender, race, religion, national origin, physical ability, sexual orientation, or age
The sale or distribution of stolen goods (including digital and virtual goods), counterfeit goods and violation of intellectual property, or items that violate individual privacy (revenge porn)
Transactions involving Human Organ