● Any product/service or activity prohibited by banking partners, which currently includes:
- Tribal-related
- Choice of Law-related
- Offshore Business
- Adult Entertainment Businesses
- Escort Services or Encounter Groups/Clubs
- Massage Parlors (not associated with salons/chiropractic care)
- Marijuana or Illicit Drugs
- Cannabis Oil/Products
- CBD products
- “Pseudo” Products
- Nested Payment Processors
- Pyramid Scheme/Multiple Level Sales
- Shell Corporations
- Gambling Establishments
- Tax Anticipation Programs
- Tattoo Parlors
- Aircraft Dealers
- Firearms/Ammunition Sales
- Tobacco/e-cigarettes/e-liquid Sales
- Unfair, Predatory, or Deceptive Practices/Goods
- Products/Services deemed Illegal by any level of Government
- Transaction Types prohibited by Visa/Mastercard/American Express/Discover
● Any product/service considered illegal
● Counterfeit goods
● Illegal drugs or drug paraphernalia
● Foreign government, or any embassy or consulate thereof
● Illegal or unregulated gambling
● “Get rich quick” schemes
● Weapons and/or ammunitions
● Sexually oriented or pornographic products
● Online Dating Services (if known & reputable)
The following products and services are restricted by our banking partners and require prior approval from our banking partners before onboarding for use of Synapse product(s):
● Cryptocurrency Exchange Businesses
● Auctions/Auction Services and Websites
● Bail Bond Services
● Bars/Taverns (not serving food)
● Credit Restoration/Debt Relief Services
● Door to Door
● Flea Markets
● Modeling Agency
● Neighborhood Party Sales
● Resort Land Promotions
● Talent Booking Agencies
● Third Party Hotel Reservation Services
● Vitamin and Supplement Sales
● Nutraceuticals
● Nested MSBs/Nested Money Transmitters
● Bearer Shares
The following products and services have been deemed as high risk by our partner bank. Some of these industries are included in the prohibited/restricted lists above as well and should receive increased scrutiny if onboarded.
● Short term loans with high interest rates
● Merchant cash advance
● Payday Lenders
● Checking Cashing Institutions
● Credit Card Schemes
● Government Grants
● Home Based Charities
● Lifetime Guarantees
● Student Loan Assistance Companies
● Fantasy Sports
● Vehicle Sales
● Firearms/Fireworks Sales
● Ammunition Sales
● Surveillance Equipment
● Pawn Shops
● Raffle/Sweepstakes
● “As Seen on TV”
● Telemarketing
● Pharmaceutical Sales
● Tobacco Sales
The following countries have been deemed as high risk by Synapse and our partner banks. Users that are currently in prohibited countries but were on-boarded before the prohibition began should contact compliance for whitelist with additional due diligence.