Prohibited Industries & Transaction Types

Medici Bank does not provide accounts, nor facilitate payments to the following types of businesses:

• Cryptocurrency Related Companies (brokers, dealers, exchanges, wallets, OTCs, miners, funds, merchant processors, ATMs, token issuers)
• Gambling or any Casino related businesses
• Illegal Activities (either in the USA or the jurisdictions where applicant conducts business)
• Marijuana/Cannabis/Hemp, whether medical or recreational
• Medical Equipment
• Money Services Businesses (money transmitters, check cashing, wire transfers, money orders, currency exchanges or dealers, bail bonds, collections agencies, payment aggregators)
• Mortage, Debt, and Credit Services (mortgage/loan consulting, debt reduction, credit counseling or repair, pay-day lenders)
• Multi-Level Marketing (pyramid schemes, network marketing, referral marketing, affiliate marketing)
• Not-For-Profits/Charities/Foundations
• Pass-through transactions and Payable-through accounts (PTA)
• Politically Exposed Persons/Businesses (PEPs)
• Prescription drugs or controlled substances
• Precious Metals
• Reselling prepaid cards or gift cards/certificates
• Tobacco, cigarettes or e-cigarettes

Regardless of the type of client, we do not process payments for:

• Any illegal items or for any illegal purpose;
• Any munitions or firearms or other weapons (including without limitation, knives, guns, firearms or ammunition); 
• Pirated software, DVD or videos or item(s) otherwise infringing copyrighted works
• Illegal drugs, drug paraphernalia, prescription drugs or controlled substances or items that may represent
  these uses;
• Reselling prepaid cards or gift cards/certificates; Personal use such as gifts, loans or payments from
  friends and family;
• Cigarettes, tobacco or e-cigarettes;
• Internet, mail or telephone order pharmaceutical or pharmacy referral services;
• Internet Gambling;
• Items that promote hate, violence, racial intolerance, or the financial exploitation of a crime;
• Goods or services that infringe on the intellectual property rights of a third party;
• Products or services that process pop-ups or contain, promote, reference or link to any spyware,
  malware, virus, back-door, drop dead device or other program installation;
• Live animals;
• Transactions directly or indirectly involving persons (individuals or entities) with whom U.S. persons are
  prohibited from engaging pursuant to sanctions and export controls administered by the Departments of
  Treasury, Commerce and State; 
• Marijuana and related businesses;
• Any other category or payor that Medici decides to prohibit, in its sole discretion.

Transactions Subject to Enhanced Review

For approved clients within allowed industries, we monitor all transactions to ensure compliance with relevant banking law. You can expect enhanced review of certain transactions which may be considered higher risk and warrant additional information in order to be process (whether inbound or outbound). Payments related to any of the following categories are subject to enhanced review and may be disallowed. 

Note: While we do take and hold digital assets as collateral to secure loans, and despite being authorized to act as a Custodian of digital assets, Medici Bank does not at this time hold any digital assets on account; further, we do not accept deposits nor make payments in any digital asset other than USDC and USDT. Any payments sent in other than fiat USDC and USDT will be refused. Any payments sent in USDC or USDT will be automatically converted to fiat before crediting to the account. Any withdrawals in USDC or USDT will only be paid back to the original funding wallet address. We will not process digital asset (eg cryptocurrency) payments to third parties.