• Restrictions

    ExchangeFair

    ExchangeFair has placed a number of restrictions on the type of industries,
    activities, and countries we are able to support and service.

Virtual FX Account

This virtual account is not available for clients of the following industries:

  • Multi-Level Marketing
  • Pawnbrokers
  • Precious Metals
  • Drug paraphernalia
  • Carbon Credits
  • Crypto Currencies
  • Gambling

In addition, this virtual account solution will not be available for clients from the United States who belong to the following industries:

  • Chemicals
  • Medical devices
  • Alcohol
  • Tobacco
  • Dietary supplements
  • Seeds or plants
  • Regulated financial services
  • Outbound telemarketing

ExchangeFair has restricted the use of countries that this virtual account will serve. The bank where the funds are originating from, and the payer must be based in one of the permitted jurisdictions below:

  • EEA countries (incl. Cyprus, Iceland, Norway, Sweden and Switzerland)
  • Åland Islands
  • Australia
  • Canada
  • Cayman Islands
  • China
  • Gibraltar
  • Guadeloupe
  • Guernsey
  • Hong Kong
  • India
  • Isle of Man
  • Israel
  • Singapore
  • Japan
  • Jersey
  • Liechtenstein
  • Martinique
  • Mayotte
  • Monaco
  • New Zealand
  • Reunion
  • Saint Martin (French Part)
  • South Africa
  • South Korea
  • Taiwan
  • United Kingdom
  • United States

Virtual Euro Account

This virtual account is not available for clients of the following industries:

  • Unlicensed Gambling, casinos, betting companies when they are required to be licensed in its country of incorporation;
  • Unlicensed FIs when they are required to be licensed in its country of incorporation;
  • Hawala Dealers, company or individual, which are into Hawala Activities
  • Firearms, Weapons and other military equipment;
  • Illegal Drugs;
  • Charities and Non-governmental organizations;
  • Energetic services based on radioactive material;
  • Gas & Oil traders with no physical presence or which its business presence and is unclear. (Gas & Oil Scam);
  • Used cars dealers that are not official brand representators and have less than 10 years on the market;
  • Pornography, escort or sex industry related companies, adult web cams;
  • Human Trafficking;
  • Shell Banks and Offshore Banks/FIs;
  • Counterfeit goods;
  • Minerals mining and minerals trading;
  • Raw metal traders (individual and corporate);
  • Companies which its core activity is trading Tobacco and electronic cigarettes and other smoking paraphernalia;
  • unauthorised copies of software, video games and other licensed or protected material;
  • Subscription-based dating websites which do not have genuine, underlying matches or products (essentially scams);
  • Companies providing Immigration services or programs for obtaining VISAS on countries;
  • Pyrotechnic devices and hazardous materials. Sale of Fireworks and related goods; toxic, flammable, and radioactive materials and substances; gunpowder; explosives;
  • Crime scene photos or items, such as personal belongings, associated with criminals or a criminal act. This also includes products or services invoking or supporting hatred, discrimination, violence or terrorism;
  • Counselling services such as debt and financial counselling, marriage and family counselling, alcohol and drug abuse counselling, personal counselling;
  • Sell, lease and rent timeshare real estate and arrange timeshare property exchanges;
  • Multi-level marketing, pyramid schemes where multiple levels of workers are earning money from one another with no real product or a questionable product to sell. Often involve an initial fee to be trained or buy start up products, Pyramidal structure;
  • Sale or distribution of government issued items without authorisation;
  • Sale and distribution of illegal telecommunications devices;
  • Crypto traders unlicensed/inadequately licenced in the jurisdiction of registration where licencing is a legal requirement;
  • Any customer (financial institution or crypto) that do not have a satisfactory AML/KYC policy and transaction screening and monitoring systems and compliance team in place;
  • Individual Crypto Traders who make trades for third parties, not using their own funds;
  • Facilitating exchange of anonymous crypto currency;
  • Unlicensed facilitation of security tokens (e.g. that have characteristics like shares, debentures or units in a collective investment scheme;
  • Piracy or illegal streaming companies;
  • Shell companies;
  • Companies formed of Bearer Shares;
  • Political / religious organisations engaged in hate speech;
  • Any FI servicing the aforementioned prohibited business.

Clients from the below countries will not be eligible for a virtual account. The country is determined by the country of residence for the individuals and the jurisdiction of registration for companies. In addition, payments to / from these countries will not be processed.

  • Cuba
  • Iran
  • North Korea
  • Sudan
  • Syria