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Restricted Business Types

Restricted Business categories may be imposed through Network Rules or the requirements of our Issuing Bank. The following categories of businesses are restricted from using Penny’s services:

  • Adult content and services companies
  • Unregistered hedge funds
  • Unlicensed and/or unregistered MSBs
  • Bearer Share companies
  • Marijuana related businesses (includes marijuana-related legitimate businesses)
  • OFAC-sanctioned individuals, entities, countries, and/or governments
  • Shell banks and foreign shell companies
  • Legal entities whose Ultimate Beneficial Owners (or UBOs) cannot be verified
  • Unlawful/unlicensed Internet gambling organizations
  • Unregulated domestic/foreign casinos
  • Unregistered/unregulated charitable organizations
  • Virtual currency companies
  • Drug paraphernalia companies
  • Penny auction companies

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