Who Can Sign Up for Bento?

Legally registered US businesses with a verifiable physical location in the US can sign up for Bento. However, there are Restricted Business categories imposed through Network Rules or Issuing Bank(s) requirements. The following categories of businesses are restricted from using Bento's services:

  • OFAC-sanctioned individuals, entities, countries, and/or governments
  • Shell banks and foreign shell companies
  • Legal entities whose Ultimate Beneficial Owners (UBOs) cannot be verified
  • Unlawful/unlicensed Internet gambling organizations
  • Unregulated domestic/foreign casinos
  • Unregistered/unregulated charitable organizations
  • Unregistered hedge funds
  • Unlicensed/unregistered MSBs
  • Bearer Share companies
  • Marijuana-related legitimate and illegitimate businesses
  • Virtual currency companies
  • Adult content and services companies
  • Drug paraphernalia companies
  • Penny auction companies
  • Any individual or entity that:
      • Presents forged or false documents
      • Refuses to cooperate or deliberately obstructs the customer verification process
      • Insists on anonymity

The types of restricted businesses listed are representative, but not exhaustive. If you are uncertain as to whether your business is a Restricted Business or have questions about how these requirements apply to you, please contact us.

 

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