Banking solutions tailored for I-Gaming businesses have become increasingly essential. Local banks in Malta have tightened their regulations, particularly concerning high-risk clients, making it challenging for businesses in the sector to secure bank accounts. Even when these companies operate under stringent regulations from bodies like the MGA and adhere to compliance requirements, the banks’ stance remains unaltered.
In 2019, most local banks sent legal notices to their I-Gaming clients, instructing them to remove their funds from player and business accounts within a few months. This practice, known as “de-risking,” is commonly employed by financial institutions to sever relationships with their high-risk clients. The I-Gaming industry faces its own unique challenges in terms of perceived risk.
Rather than managing these clients in accordance with regulatory directives, banks have chosen the path of least resistance, opting to terminate relationships with them. As LAG Merchant Group, the legal partner of Bilderlings Pay Ltd. in England and Blue Orange Bank in Latvia, we are committed to providing reliable banking solutions to I-Gaming companies. Our offerings encompass business accounts, player accounts, and credit card acquiring services for any licensed company.
Our team continuously evolves to facilitate the acquisition of UK and European bank accounts for our clients, along with comprehensive banking solutions. During the onboarding process, we attentively listen to our clients’ needs to determine the most effective solutions. Our onboarding team comprises I-Gaming experts with years of experience in the sector, enabling us to identify the right solutions.
We extend our banking services to UK, MGA, and Curacao licensed B2B and B2C casinos. Opening an account with us requires compliance with Anti-Money Laundering (AML) requirements set forth by the Financial Intelligence Analysis Unit (FIAU). We provide guidance during the onboarding period to assist in filling out the necessary documents and collecting the required due diligence, expediting the process.
When you deposit your funds into Bilderlings accounts, rest assured that your money is secure. Bilderlings Pay Limited operates as an Electronic Money Institution (EMI), and your funds are deposited in corresponding banks, including EU Central Banks.
The account opening process typically takes 1-2 weeks, although this timeline may vary based on the efficient collection and receipt of documentation by the client’s side.
