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 support@wamo.io.
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