Bank Account – Gaming Companies

Gaming Companies are finding it complex to maintain a long-standing relationship with commercial banks. This trend is due to various factors. Derisking, as well as simply not understanding the risks involved, has made Gaming Companies the prime target. Banks across the EU have been closing down operational bank accounts for gaming companies, leaving some exposed to issues. Such unannounced closing down of bank accounts for gaming companies pose a huge operational risk for their operations.

At E&S Group we have identified that operational bank accounts would be an issue for our gaming clients. We have spent over a year creating various relationships with EU banks as well as payment institutions. This also involved educating them on the operations of gaming companies’ bank accounts. We now have over 15 banking and payment institutions options for a gaming company to open an account.

Contact our Chief Client Officer Deborah Vella on LinkedIn, email us for further information info@ellulschranz.com  or leave us a message below!

Timeline for opening a gaming company’s bank account

Over time, we have build a relationship with banks that allows us to identify what information the bank would require on the operations of a gaming company.  Through this relationship, we can assist gaming clients in a relatively fast bank opening procedure. The time taken from when we get all the required info and documents until the opening of the account can vary. This usually takes between 1-4 weeks depending on the institution chosen. Opening an account with an EMI (Electronic Money License) usually takes less. Just as much with gaming companies.

How can we help?

Banks consider the gaming industry as high risk for AML purposes. The holding of Bank accounts for gaming companies, by banks requires more attention than other industries. This, however, does not immediately translate into higher risk for banks. At E&S we assist our gaming clients to immediately give all the information the bank would require when opening a bank account. This is done through our extensive knowledge of risk and how to interpret it.  With all the information provided promptly, the time spent to open a bank account diminishes drastically. Also, the bank, would feel more comfortable when opening an account for a gaming client.

Contact our Chief Client Officer Deborah Vella on LinkedIn, email us for further information info@ellulschranz.com  or leave us a message below!

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E&S is here to assist in finding the most appropriate banking solutions for you and your business. Our team continues to develop strong business relations with numerous EU and Non-EU licenced banks and EMIs so that our clients are offered peace of mind when looking to open an operational account. Our services and expertise include:

  • Identify banking solutions that fit your gaming company,
  • Banking solutions for Gaming Companies through local and EU banks, EMIs and payment gateway providers,
  • Set up meetings and calls with the chosen banks; and
  • Compilation and reviewing of gaming bank account opening documentation.

 

From our growing banking and EMI network, some of the services provided include:

  • Banks that accept high-risk industries and activities;
  • Online banking;
  • Credit Cards and Prepaid Cards;
  • EUR, USD, GBP plus other currencies;
  • Personalised real and virtual IBAN in the company name;
  • No or Low fee on  transactions;
  • SEPA and SWIFT; and
  • API integration.

 

Contact our Chief Client Officer Deborah Vella on LinkedIn, email us for further information info@ellulschranz.com  or leave us a message below!

Testimonials

"According to our experience, E&S Consultancy team is made up of well-trained and skilled professionals who are always there to satisfy your business needs with reference to Maltase law. Their work is well organized and carried out in a precise and timely manner. I look forward to continuing my cooperation with E&S Consultancy."

Giorgio Crotta & Marco Compagnino - FIDINAM & Partners

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