Company industry: Online Gaming
Company jurisdiction: UK
Shareholders: 1 Individual from UK.
Banking needs: For the Curacao Company – need of SWIFT EURO, USD and other currencies, in and out.
Banking difficulties in UK
Very little banking options for the curacao company
They came to us asking for assistance to open business bank account in Europe with SWIFT EUR, USD and SEPA to receive funds from their merchant and also they needed debit card for paying to online services.
- To open a corporate account in EMI’s in Europe that are gaming friendly.
- We assisted them to obtain the Curacao Gaming License.
- We assisted them to open account in Europe under the Curacao company
- In that way, the company has an account in Europe where all incoming from their merchant accounts and PSP’s are sent to.
- The company issued 2 debit card for making online payments
- We assisted them to approach an EMI’s in Europe, gather documents, prepare and submit forms to the EMI.
What were the steps:
- Identify their needs and current difficulties.
- Collect company shareholder’s information from open sources – company registry.
- Filling in the information in the financial institutions applications/ Corporate Questionnaire.
- Work with the EMI to ensure application is full for smooth account opening.
- financial institution approved the application and open the company an account with the required services.
Case study Summery:
It took to open the account from first contact to us until bank approved the application about 24 days.
Since partnering with us, the company struggled with its banking options and basically almost had to close its business due to luck of operational bank account. The company is working its bank account from mid 2020 and still, the account is fully operational.