Prohibited Industries & Transaction Types

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

• Abortion Clinics
• Adult/Pornographic Businesses or Services – Novelties & Other Goods, Videos or Streaming, Strip Clubs, Websites, Phone Services, Bikini/Lingerie Baristas, Adult Escorts, Prostitution Services, Massage Parlors, and Child Pornography.

• Animals and Wildlife Products Classified as Endangered or Protected

• Any Good, Service, or Activity that is Unfair, Deceptive, Predatory, or Prohibited by Law.

• Any illegal items or other illegal activity or unlawful purpose.
• Any munitions or firearms or other weapons (including without limitation, knives, guns, firearms or ammunition). 
• Coin Dealers, Stamp Dealers or Merchants Selling Precious Metals or Stones.
• Cryptocurrency Exchanges or Related Businesses.
• Counterfeit materials.
• Court-ordered alimony or child support payments.
• Credit repair services.
• Dating and matchmaking services (7273);
• Direct Marketing – Not Otherwise Classified (5969)
• Direct Marketing – Telemarketing (5966)
• Direct Marketing – Subscriptions (5968)
• 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.
• Espionage equipment and accessories.
• Firearms, ammunition or other weapons.
• Foreign Governments.
• Fraud.
• Home-based businesses (7399).
• Human remains and body parts.
• Illegal downloads of movies, music, computer, and video games
• Illegal Drugs or drug proprietors selling illegal substances.
• Illegal gambling, gaming, lotteries or sweepstakes.
• Illegal Goods or Services (Represents or Mimics a Violation of Any Law, Statute or Regulation).
• Illegal investment schemes.
• Illegal sale of financial information (e.g., bank accounts, bank cards);
• Illegal software — e.g., Malware, Software to break the encryption of phones/computers.
• Mail order brides' services.
• Materials or activities that promote intolerance, violence or hate.
• Merchants Prohibited by Customer Identification Program (CIP) and Due Diligence Policies.
• Money laundering.
• Multilevel Marketing and Pyramid Schemes.
• 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.
• Obscene or offensive activities or materials.
• OFAC (Office of Foreign Asset Control) Restricted Territories, Companies, or Individuals.
• Online pharmacies and supplements (5912);
• Pharmaceuticals and other controlled substances.
• Poisonous and hazardous materials.
• Products & Services promoting abuse, hatred, racism, religious persecution, terrorism, violence or containing offensive content.
• Pyramid or Ponzi schemes.
• Scams.
• Shell banks and companies.
• Signal Jammers/Blockers that interferes with cellular/communication devices
• Stolen goods including digital and virtual goods.
• Surrogacy services.
• Terrorist funding.
• THC Based Products.
• Timeshare and Vacation Ownership (7012);
• Trade of weapons, ammunition, military arms, explosive devices, and firearm parts.
• Weight Loss and Diet Products (5499);
• Work-From-Home Opportunities (7399).
• Affiliate Marketing (7399)
• Arms, Weapons, and Ammunition Products and Firms (3489)
• Businesses Found on the MATCH List
• Cannabidiol / CBD Related Products and Services (Includes Products that Contain CBD, CBD Derivatives or Where CBD Related Sales are a Material Portion of Sales)
• Computer Network Services, File Sharing, Cloud Storage (4816)
• Credit Repair and Debt Relief (7276)
• Cruise Lines (4411)
• Debt Collection and Consolidation (7320)
• Digital Goods – Games (5816)
• E-Cigarettes and Vaping (5993)
• Fantasy Sports and Online Gaming (7995)
• Firearms and accessories (4214)
• Furniture Stores (5712)
• Guns and firearms (3489)
• Horoscope and Fortune Telling (7999)
• Investments in Stocks, Bonds, Futures, Options, Derivatives, etc.
• Loan and Financing Services (6012)
• Medical Marijuana and dispensaries (8099)
• Medical Products and Services.
• Merchants Located or Operating Outside of the United States
• Money Service Businesses – Transfers, Wires, Money Orders, Currency, Transmitters, Check Cashing, etc.
• Non-Profits
• Payday loans and cash advances (6051)
• Political Activist Groups, PACs.
• Sweepstakes
• Traveler's checks, money orders, equities, annuities.
• Virtual and digital goods (5735)
• 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.