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  1. #1
    frogthegambler is offline Public Member
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    Default Business Bank Account in UK for Ltd

    Hi,

    Having issue finding a UK bank that will allow company business accounts that have anything to do with gambling.

    Anyone managed to get a UK bank to allow their limited company in this industry?

    Names of any banks would be appreciated.

    Thanks.

  2. #2
    baldidiot is offline Private Member
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    Loads of people on the forums have ltd companies in the UK with bank accounts. The problem is that as soon as you mention gambling it'll set off their money laundering alarms, especially if they don't really understand what it is you do.

    Say you do marketing, or web publishing. There's a SIC code for web portals so you could even just say that.
    onlinegamblingwebsites.com - Formally known as goodbonusguide.

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  4. #3
    baldidiot is offline Private Member
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    On a side note, we set up a tide account not too long ago and they were incredibly quick. I don't even think they asked anything other than very basic "what industry do you work in" type questions.

    They're technically not a bank though so that might be why they're less invasive.
    onlinegamblingwebsites.com - Formally known as goodbonusguide.

  5. #4
    frogthegambler is offline Public Member
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    thanks
    Last edited by frogthegambler; 19 July 2022 at 2:53 pm.

  6. #5
    bingoreviews is offline Public Member
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    I've had problems in the past but been with Santander for a number of years now and had no problems
    Visit FreeBetsOnline.org.uk for the best free bets UK customers can claim

  7. #6
    FreeSpins is offline Public Member
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    Check Metro Bank, seems to be OK
    hxxps://www.metrobankonline.co.uk/

  8. #7
    CiaranMc is offline Public Member
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    Quote Originally Posted by bingoreviews View Post
    I've had problems in the past but been with Santander for a number of years now and had no problems
    I've been a corporate customer for years and hate doing biz with them! :\

  9. #8
    baldidiot is offline Private Member
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    Quote Originally Posted by FreeSpins View Post
    Check Metro Bank, seems to be OK
    hxxps://www.metrobankonline.co.uk/
    Literally the worst bank I've ever dealt with, they don't know their arse from their neighbours elbow.
    onlinegamblingwebsites.com - Formally known as goodbonusguide.

  10. #9
    freespinsnodeposit is offline Public Member
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    Very common question on this forum and other places.

    Personally, I have a CardOneMoney account, not the best but they accept gambling clients. I went through a company to open this, but I think you could apply yourself and pass the opening process. Happy to answer any questions you have if you want to try them.

    I receive commissions into that account and then send what I need to a Wise account that I only use for outgoings. I also have a Tide account like someone mentioned above, I was using that for outgoings but never received commissions in to it so can't really comment further on that.

  11. #10
    datstheguy is offline Public Member
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    I'd do a couple of things:
    * open a business account with a high street bank, say you do lead generation or web marketing or SEO (which you do)
    * open a cashplus account as a screen to prevent your final high street bank from knowing who sent the money initially (and flag you)

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  13. #11
    tufty is offline Public Member
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    Quote Originally Posted by datstheguy View Post
    I'd do a couple of things:
    * open a business account with a high street bank, say you do lead generation or web marketing or SEO (which you do)
    * open a cashplus account as a screen to prevent your final high street bank from knowing who sent the money initially (and flag you)
    This is a good idea. The only time I ran into problems it was because the payments were so obviously from betting companies - and the problem I ran into was with a Santander business account. They asked about every payment, after having the account for many years. They were not satisfied with my lies and scheduled another call. In the end I closed the account before they did.

    Now I bring UK affiliate payments largely into skrill and then move it very swiftly to one of my personal accounts (so only shows from skrill) and then onto my UK business account.

    Tbh bit concerned about the OP even asking this question, fair enough to be a newbie and need help, but not to realise that overtly stating your business is 'gambling' to a bank is going to get the door slammed in your face is naive. Anyway, your business is not gambling. You are not an operator, yet you are telling a bank that you are. Personally I tell them I do 'marketing'. I think 'marketing consultant' is a good BS phrase too.

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  15. #12
    Triple7 is offline Private Member
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    fair enough to be a newbie and need help, but not to realise that overtly stating your business is 'gambling' to a bank is going to get the door slammed in your face is naive.


    It's even more naive to think that people name here banks that are quite relaxed to gambling affiliate companies.

  16. #13
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    Quote Originally Posted by tufty View Post
    Personally I tell them I do 'marketing'. I think 'marketing consultant' is a good BS phrase too.
    Why BS phrase though, when this is exactly what you are doing? If you were promoting Nike and Adidas shoes you wouldn't tell them you were running a clothing store or selling clothes, you'd tell them you do online marketing. If you were advertising KFC, McD and any of those, you wouldn't tell them you were in the fast food restaurant business, you'd tell them you are in the online marketing. Why would that change all the sudden when it comes to gambling?

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  18. #14
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    The thing is that in the UK no such nature of business as marketing. Marketing is a very broad understanding. There is only Gambling and Betting Activities (SIC CODE - 92000), however, this does not sound exactly what we are doing. Once I was asked what is the nature of my business and when I explained it to them they did not have a clue what it is, so they decided to label me as free-lancer...


    TBH, i don't care what they call me, there is one called "Raising of camels and camelids", so I may pick this one next time, lol.

    Here is a list of SIC codes UK, in case one needs it -- https://resources.companieshouse.gov.uk/sic/

  19. #15
    tufty is offline Public Member
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    This is the sic code i use: "SIC code 73110 is used by Advertising Agencies. The types of businesses using SIC code 73110 might include advertising agencies and consultants." It is the nearest thing to 'marketing'.

    Use sic code 92000 and you wont get a bank account (unless somehow they dont check it, but they tend to be hot on this stuff nowadays). Even if they let it go, they'll raise it when they review the account in future. The KYC / money laundering stuff is tough now - the banks have had it forced upon them.
    Last edited by tufty; 30 July 2022 at 1:49 pm. Reason: correction to sic code!

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  21. #16
    baldidiot is offline Private Member
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    There's also:

    63120 Web portals
    onlinegamblingwebsites.com - Formally known as goodbonusguide.

  22. #17
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    Quote Originally Posted by baldidiot View Post
    Loads of people on the forums have ltd companies in the UK with bank accounts. The problem is that as soon as you mention gambling it'll set off their money laundering alarms, especially if they don't really understand what it is you do.

    Say you do marketing, or web publishing. There's a SIC code for web portals so you could even just say that.
    I agree. As an affiliate you are not offering gambling services. You are advertising and providing content. I would not place gambling on any invoices or description of services. This is how I interpret the affiliate industry.

  23. #18
    Triple7 is offline Private Member
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    Quote Originally Posted by WagerX View Post
    I agree. As an affiliate you are not offering gambling services. You are advertising and providing content. I would not place gambling on any invoices or description of services. This is how I interpret the affiliate industry.

    Unfortunately lots of banks interprets it differently. And if payments are coming from companies that are clearly gambling companies, it doesn't matter what details you put on the invoice.

  24. #19
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    Yes, for any newcomers reading through or having issues. We are simply marketing consultants & specialists. People don't want to associate themselves professionally with "Casino".


    As others have pointed out, it is no different if you target another niche.

    Also, you can use Transferwise as a buffer and help you with SEPA problems if you run into that.

    Best of luck!

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