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 speak to our support via chat or email

You will not be able to open a wamo business account if your business conducts any activity or business relating to the following industries:

  • Anonymous or Numbered Accounts, Shell Banking Financial Services

  • Any industry known to be an illegal industry in its local jurisdiction

  • Any products harmful to human health - tobacco, e-cigarettes and e-liquid - (pharmacological products are subject to PayrNet approval)

  • Cash and cheque handling: Cheque Cashing, Deposit Taking, Cash Transfer Financial Services

  • Credit repair, Debt Restructuring

  • Cryptocurrency trading, exchanges or other Cryptocurrency businesses

  • Dealers in precious metals and stones

  • Debt recovery, Debt settlement, Debt Collections

  • Gambling, gaming or lottery, including payouts

  • Financial Pyramid or Ponzi Schemes

  • Financial institutions (e.g. MSBs, PSPs or EMIs, etc)

  • Illegal Drugs and Narcotics

  • Non-profit organisations

  • Operating a business that requires a license or special permit without obtaining such license (i.e. Unregulated FX businesses or Unregulated Auction Houses)

  • Political organisations and institutions

  • Production of Adult or Violent content

  • Production or Distribution of Offensive Weapons: Ammunition, Firearms, Explosives, Complex Weapons (i.e. guided missiles), Poisons

  • Psychic services

  • Registered and unregistered charities

  • Sanctioned individuals and entities

  • Selling, hosting, distributing, producing or promoting offensive materials, including materials that incites or promotes 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 violates individual privacy (revenge porn)

  • Transactions involving Human Organs

  • Trusts

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