4-6 weeks
N/A
Strict
Targeted
Bank Accounts for High-Risk Companies
Open a separate bank account just for your online gaming money, so it’s easier to keep track of it
BENEFITS
Key advantages of Bank Accounts for High-Risk Companies
You’ll get your money back if you’re not happy
Full refund if your application is rejected without reason or if we accepted it knowing all potential risks.
Diversification Recommendation
Open 2+ accounts to mitigate risks and ensure stability in the volatile gambling industry.
High-Risk Business Acceptance
Multiple Currencies Supported
Operate in multiple currencies including EUR, USD, CAD, GBP, and more, providing flexibility for your financial operations.
Dedicated IBAN
Swift and SEPA Transfers
Integrated Financial Services
If you don't know which license you need, take the test
DOcuments
Required documents for Bank Accounts for High-Risk Companies
- Background or Reference Info
- Beneficial Owner Statement
- Passport Copies
- Employment Record
- Utility Bill
- Quick approval for gaming businesses.
Submit identification and business registration documents.
Opening a Bank Account for a Gambling or High-Risk Business
Getting a bank account when you’re in the gambling or high-risk space isn’t easy. Most banks are cautious, and the paperwork can be overwhelming.
We make this process faster and easier — so your business can keep moving without delays or stress.
What Are Bank Accounts for High-Risk Businesses?
If you run an online gambling company — like a casino, sportsbook, betting platform, game aggregator, or software provider — the right bank account is essential. It’s not just a place to hold funds. It’s the foundation for running your business.
With the right setup, iGaming companies can:
Pay vendors, partners, and service providers
Manage operational costs
Stay compliant with regulations and pass financial audits
But here’s the challenge: gambling is seen as high-risk. Because of strict regulations, many banks simply won’t get involved. That’s why it’s important to work with banking partners who understand the industry.
What Are EMIs (Electronic Money Institutions)?
EMIs offer an alternative to traditional banks. While they don’t have a full banking license, they do offer financial services tailored to high-risk businesses like gambling.
Here’s what you should know about EMIs:
They don’t give out loans or credit
They can’t use your funds — all money is held securely
They make money through service fees (like currency exchange or crypto conversion)
They operate entirely online, with no physical branches
Because of their digital focus and flexible approach, EMIs are often a great fit for gambling businesses looking for reliable, low-barrier financial services.
Who Needs These Bank Accounts?
If your business handles player funds or operates in the iGaming space, you’ll need a specialized bank account.
This includes:
Online casinos and sportsbooks
Game studios and aggregators
B2B providers and software platforms
Payment processors, gateways, and affiliate networks
Whether you’re B2C or B2B, you need dependable banking to manage funds, handle expenses, and stay compliant.
Who We Work With
Our clients usually fall into two main groups:
Online casinos that deal directly with customers (B2C)
Aggregators and providers who hold B2B licenses and support casinos
In our experience, banks care less about your business label — and more about your risk level and compliance. That’s where we help you stand out.
Start a Trusted Bank Account for Your High-Risk Business
Bank Account Requirements for Gambling & High-Risk Businesses
To open a business bank account, especially in the gambling or high-risk sector, you’ll need to prepare a comprehensive set of documents. Here’s what most banks typically require:
Core Documents
Passport copies for all directors, owners, and authorized signatories
Recent proof of address (utility bill, bank statement, or government-issued letter dated within the last 3 months)
CVs of directors and key management
Ultimate Beneficial Owner (UBO) declaration
Background checks or professional reference letters (if requested)
Additional Documents
Certificate of incorporation
Articles of Association and Memorandum of Association
Gambling license or relevant regulatory approvals
Full list of beneficial owners, directors, and officers
Tax identification number
Detailed business plan
Audited financial statements (1–3 years, if available)
Recent bank statements (typically last 6 months)
Proof of funds or source of wealth
Website URLs and summaries of your gambling platforms
Software agreements or key partnerships
Anti-Money Laundering (AML) and Counter-Terrorist Financing (CTF) policies
Responsible gambling policies
Compliance manuals and AML/KYC procedures
Recent compliance or audit reports (if available)
How to Open a Bank Account: Step-by-Step Guide
Opening a bank account for a gambling or high-risk business can be complex, but it’s manageable when you follow these key steps:
Step 1. Find the Right Banking Partner
Look for a bank that has experience with gambling and high-risk industries. Ensure they support international payments, multi-currency accounts, and relevant payment processing.
Estimated time: 1 to 2 weeks
Step 2. Prepare Your Documents
Gather all necessary documents including business formation paperwork, licenses, proof of funds, and compliance materials.
Estimated time: 1 to 2 weeks
Step 3. Submit the Application
Once you understand the bank’s requirements, submit your application along with the complete set of documents. The bank may request a short meeting or call to understand your business model and compliance process.
Estimated time: A few days
Step 4. Undergo Compliance Review
The bank will conduct due diligence, including:
Verifying your licenses and business activities
Checking the backgrounds of directors, UBOs, and key staff
Reviewing your transaction history and source of funds
Evaluating your AML and KYC controls
Assessing the structure and legitimacy of your operation
Estimated time: 2 to 8 weeks
Step 5. Get Account Approval
Once approved, the bank will provide your account details and online banking access. Some banks may request an initial deposit or require a minimum balance.
Estimated time: 1 to 2 weeks
Step 6. Maintain Ongoing Compliance
After your account is opened, you’ll need to remain compliant by renewing licenses, submitting reports, and keeping your records up to date.
Prefer a Simpler Process? We Can Help
We offer a streamlined, end-to-end service to make opening a bank account faster and easier.
Step 1. Initial Consultation (1 to 3 days)
We start with a consultation to understand your needs, including pricing, services, business model, and ownership structure.
Step 2. Application and Document Preparation (2 to 6 weeks)
We apply to 2 to 10 carefully selected banks on your behalf and prepare all documentation needed.
Step 3. Receive Initial Bank Approvals (1 to 3 days)
As soon as we receive offers from banks, we present them to you. You can proceed with the best option or wait for others.
Step 4. Final Account Setup (1 to 3 days)
Once you’ve chosen a bank, we assist with the final steps and walk you through activating your account.
Total estimated time: 3 to 7 weeks
By working with us, you can stay focused on your business while we handle the complex banking process from start to finish.
Ask your questions, get expert answers, and gain clarity—all in one place!
Challenges with Bank Accounts for Online Casinos
Opening a bank account for an online casino can be more complicated than expected. Many businesses in the industry face recurring obstacles that can delay or disrupt operations. Here are some of the most common challenges:
1. Finding the Right Banking Partner
One of the biggest hurdles is finding a bank that is not only willing to work with gambling businesses but remains committed over time.
Some banks accept iGaming clients initially, only to back out later without warning. Others that once avoided the industry may suddenly change their stance. These shifts in policy often come without explanation, making the process uncertain and difficult to plan for.
2. Ensuring Stability and Reliability
Even after securing a bank, stability can be an issue. Some banks have a history of freezing accounts, holding funds without notice, or abruptly suspending access.
In some cases, unreliable SWIFT accounts or poor correspondent banking relationships can cause serious delays in international payments, disrupting your operations.
3. Navigating Strict Compliance Requirements
Banks that support high-risk industries tend to enforce stricter compliance procedures. They may request extensive documentation such as:
Invoices and transaction records
Proof of payments for previous transfers
Clarification on the source and destination of funds
These checks aren’t limited to large sums. Even smaller transactions can trigger red flags, resulting in delays—or worse, a temporary account freeze—while the bank reviews the paperwork.
Recommended Strategy: Open Multiple Accounts
Given the risks and unpredictability, it’s wise to open two or even three accounts with different banking partners.
This approach provides a safety net—if one account faces issues, your business can continue operating without major disruption.
Need help opening secure and reliable bank accounts for your casino?
We work with a trusted network of banking partners experienced in handling online gambling businesses. Let us simplify the process and help you avoid these common pitfalls.
WHY Anjouan Gambling
Top 5 Reasons We’re the Right Partner for You
Efficiency
1 Form to get started
30 minutes of your time to begin
1–3 days for company setup
6–7 weeks to complete licensing
Real-Time Communication
Average 1-hour response time
Connect anytime via WhatsApp, Telegram, Skype, or Email
Transparency
Upfront Pricing — no hidden fees
Detailed Cost Breakdown for full clarity
Industry Expertise
Team of seasoned experts with decades of combined iGaming experience
Insightful strategies beyond just paperwork
Problem Solvers
Led by an ex-McKinsey consultant
9 out of 10 client challenges resolved through a consulting-first approach
Ongoing support for long-term success
Tailored Solutions
No cookie-cutter approach — we tailor each licensing and setup plan to fit your unique goals, operations, and jurisdiction requirements.
FAQ
We'll answer any questions you have
Everything you need to know about Our company. Can’t find the answer you’re looking for? Please chat to our team.
What types of payment methods can be connected to a bank account for an iGaming company?
Credit/debit cards, bank transfers, e-wallets (like PayPal, Skrill), crypto (if allowed), payment gateways, and mobile payments.
Do you provide bank accounts that support multiple currencies for gambling companies?
Yes, some banks and financial providers offer multi-currency accounts for gambling businesses, but it depends on local laws and risk policies.
How much time does it take to open a bank account for an iGaming company?
It usually takes 1 to 4 weeks, depending on the bank’s checks, required documents, and the company’s location.
Are bank accounts for gambling companies available internationally?
Gambling companies can open bank accounts internationally, but the choices are limited. Strict regulations and compliance demands make many banks hesitant to work with the industry.
Which currencies are available for iGaming company bank accounts?
Common currencies available for iGaming company bank accounts include EUR and USD, depending on the bank and jurisdiction.
What compliance requirements exist when opening a bank account for a gambling company?
Banks will typically ask for a valid gambling license, clear AML and KYC policies, a responsible gambling policy, and will require you to undergo enhanced due diligence (EDD).
Can an iGaming company open a business bank account on the internet?
Yes, some banks allow it, but because iGaming is high-risk, extra checks may be needed and not all banks support it.
Is it difficult to obtain a bank account for a gambling business?
Getting a bank account for a gambling business isn’t easy. The industry is considered high-risk, so banks apply extra attention, tighter compliance checks, and more paperwork than usual.
What papers are needed to open a bank account for an iGaming company?
Common documents include:
Company registration papers
Business license (if needed)
Owner and directors’ IDs and proof of address
Company structure details
Business plan
Proof of gaming license
Source of funds and expected transactions info
For the people behind the company—directors, shareholders, or owners—you’ll generally need to provide a passport, proof of address, and a CV. Some banks may also ask for reference letters or background checks, depending on the case.
How can I open a bank account for a gambling company?
Start by finding a bank that works with gambling or other high-risk businesses. They’ll want to understand your setup, so have your documents ready. Once you apply, expect some back and forth while they review your company, licensing, and compliance practices. When that’s done, your account can be activated. We, at MGL, can assist you and speed things up.
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