Although all Telleroo customers can send GPB payments without issue, businesses operating in certain industries will be unable to send international payments on the Telleroo platform.
This restriction is mandated by our FX partner, Wise, and applies to specific sectors they've identified as high-risk.
What this means:
Affected businesses will still have full access to all other Telleroo features, and importantly, GBP payments can still be sent without issue
Only the FX/international payment functionality will be unavailable to businesses in these industries
Prohibited industries:
Adult content
Alcohol
Alcohol businesses
Tobacco products
Cannabis
Pharmaceuticals and certain controlled substances or other products that present a risk to consumer safety
Drug paraphernalia
Chemicals
Counterfeit or unauthorised goods
Gambling
Intellectual property or proprietary rights infringement
Products and services which are not legal in the jurisdiction they are being offered in
Binary options
Escrow services
Companies involved in the exchange or trading of cryptocurrencies, or any other virtual currencies
Marketplaces from countries outside of the European Economic Area and/or the European Union, or the United States
Money service businesses, or any businesses that carry on the activity of:
- Operating a bureau de change or currency exchange service
- Transmitting money, or any representation of monetary value, on behalf of third parties
- Cashing cheques
- Payment processing
Platforms allowing the trading and/or exchanging of FX/CFD/options
Shell banks
Superannuation funds
Syndicates
Trust and corporate service providers that are involved in:
- Opening accounts on behalf of other businesses
- Nominee services
- Offshore company formation
- Using nominee directors and/or shareholders to obscure company ownership
Any other financial services operating without a licence where one is required
IPTV and VOIP services
Individuals, entities, or countries subject to international sanctions
Weaponry, military and semi-military goods and services
Nonprofit organisations and Charities from countries outside of Canada, European Economic Area and/or European Union, Switzerland, USA, Australia, or New Zealand
Trusts and foundations from countries outside of Canada, European Economic Area and/or European Union, Switzerland, USA, Australia, or New Zealand
Trade of restricted and/or endangered animal species and products derived from them
Multi-level marketing, pyramid schemes, get-rich-quick schemes, referral marketing, and any other services promising unreasonably high rewards
The United Arab Emirates-based oil, gas and shipping companies, as well as related activities
Businesses with relations or activity directly or indirectly linked to Cuba
Surrogacy businesses