Business Bank Account

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Get a bank account for MSB

It is a well-known fact that high street banks do not accept MSBs as clients. MSBs should always be prepared for any contingency with regard to their bank accounts and should have a backup account available at all times.

What we Offer

  • GBP Account
  • EUR Account
  • SWIFT Payment
  • Onboarding Fee £999 to £3,500
  • Monthly Threshold (Inbound/Outbound) No Limit
  • Inbound Payment £0.79 to £5
  • Outbound Payment £0.79 to £5
Book an appointment
I only accept card payments, what is the best bank for me? Do I need more than one bank account? We will answer all your queries.

How does Calyx Solutions provide assistance in opening bank account for MSB?

We are partnered with multiple banking partners that will help you get an operational bank account for MSBs with established banks.

These partners do not have a rigid fee structure but will decide the fee on assessing the risk factors of the MSB and the proposed volumes of transactions.

At Calyx Solutions, we are happy to help you open a money Service business bank account. We will discuss with you to decide on the best suited banking partner for you.

Our team will do the following for you:

  • Introduce you to partners that provide bank account for MSBs
  • Assist you with KYC and KYB process
  • Assist you with overall compliance process
  • Guide you on the compliance interview process
Book an appointment
I only accept card payments, what is the best bank for me? Do I need more than one bank account? We will answer all your queries.

Rejection Criteria

The Customer will be rejected in the following situations:

  • Some of the banks do not allow cash transactions
  • Some of the banks may reject businesses involving high risk countries
  • The customer is listed on an international sanctions list (e.g. OFAC)
  • Any individual connected with the customer is identified as a PEP
  • Any individual connected with the customer is listed on an international sanctions list (e.g., OFAC)
  • The customer or any individual/legal entity associated with the customer is engaged in any of the prohibited activities listed in Schedule 1
  • The customer is based in a jurisdiction with a high risk of money laundering

Prohibited Industries

  • Adult entertainment including dating and escort services
  • Agencies recruiting foreign workers in the UK
  • Binary options trading
  • Bitcoin/digital currency issuers Bonded warehouses
  • Crowd funding
  • Debt management and collection
  • Defence
  • Development aid
  • Diamond and precious metal merchants, including jewellers
  • Embassies
  • Energy
  • File sharing
  • Gambling
  • Investments
  • Life science and experimental companies
  • Mining companies involved in exploration and extraction
  • Nutrition and pharmaceuticals
  • Online forex trading, including managed forex accounts
  • Pay day lenders
  • Political parties, pressure groups and think tanks
  • Private security firms
  • Unregistered charities (i.e. not registered with the Charity Commission)
  • Offshore bank transactions/Shell banks
  • Remittances funded in cash; Cash and Check Handling: Check Cashing, Deposit Taking, Cash Transfer.
  • Companies formed of Bearer Shares
  • Shell companies
  • Fourth party payment & multi-layered MSB arrangements
  • Transactions for goods subject to export prohibition/restrictions
  • Transactions with living animals (exceptions possible like for payments for horse riding, or dog classes)
  • Political/religious organisations engaged in hate speech
  • Sanctioned entities