Restricted Segments

Last Updated: July 24, 2024

1. Restricted Industries

Some industries are higher risk, and we cannot ensure that we cover them. We are currently focusing on the businesses where we can add the most value. incard reserves the right to refuse to open your account, especially if your company's business purpose is one of the following:

• Insurance brokerage activity

• Fund, portfolio and collective investment management

• Financial Institutions making payments on behalf of other financial institutions, also known as ‘nested relationships’ or ‘layering.’

• Trading, exchange and mining or any investment in digital assets

• Provision of payment services without authorisation

• Sexual activity (pornography, prostitution, sale of sexual accessories, escorting)

• Sale of tobacco (including electronic cigarettes), alcohol

• Construction and chemicals

• Activities related to cannabis products and derivatives (THC-CBD-Hemp)

• Military and semi-military activities, including the sale of weapons, war vehicles and all reproductions

• Auction sales, sales of works of art

• Online and in-store sales of protein powders, food supplements and medicines

• Travel Related Arrangement Services (e.g. Airlines, accommodations, and ticketing agents)

• Medical devices, Drug and drug related products and services

• Political organisations

• Publishers of racist, adult, lobby materials or political propaganda

• Seeds or plants

• Ponzi, pyramid schemes, multi-level marketing, “get rich quick” schemes, outbound telemarketing

• Casinos, gambling, betting, horse and dog racing

• fortune-telling, clairvoyance, astrology

• Cryptocurrency (trading, exchange and mining), blockchain

• Trading/brokerage platform or any activity related to: currencies, precious metals, stones, gems, carbon credits, other products, securities

• Accessibility diagnosis

• Sale of SIM cards and mobile phone top-ups, calling cards and VoIP providers

• Online file sharing

• Sale of goods/services likely to damage the image or reputation of third parties

• Activities related to the mining, oil and gas industries

• Any illegal activity

If your industry isn’t mentioned above, you can apply for a business account. But a heads up: we might not accept businesses in other industries too, if we don’t think it’s appropriate.

2. Restricted Jurisdictions

We take our regulatory responsibilities very seriously. In line with our anti-money laundering policy and sanction screening requirements, we cannot support card payments, receive funds from or send money to the following countries:

Belarus, Burkina Faso, Burundi, Cuba, Democratic Republic of the Congo, Guinea, Guinea-Bissau, Haiti, Iran, Iraq, Kazakhstan, Libya, Mali, Myanmar, Nicaragua, North Korea, Russia, Serbia, Somalia, South Sudan, Sudan, Syrian Arab Republic, Venezuela, Yemen, Zimbabwe

Regions of Zaporizhzhia, Luhansk, Donetsk, Crimea and Kherson

This list may be subject to change.