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Guides for complex businesses
108 in-depth guides to the questions our clients ask most: what documents to prepare, how ownership is worked out, how payments in licensed sectors are assessed, and how each jurisdiction works.
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Onboarding · 9 min read
Opening a payments account for an offshore company: the document checklist
A full checklist for opening a payments account for an offshore company: corporate records, ownership, people, source of funds, purpose and common delays.
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Compliance · 10 min read
Beneficial ownership in multi-layer structures: the 25% threshold explained
How the 25% beneficial ownership test works through holding companies, trusts and nominees, with worked examples and what happens when no one qualifies.
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iGaming · 9 min read
Payments for licensed iGaming businesses: what providers look for
How payment and FX providers assess licensed iGaming businesses: business versus player flows, licences, group structures, affiliates, policies and documents.
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Foreign exchange · 10 min read
How business spot foreign exchange works, from quote to settlement
A step-by-step guide to business spot FX: requesting a quote, booking, pricing, value dates, funding, settlement, confirmations and internal controls.
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Trusts · 9 min read
Making payments from a trust: who can instruct, and what is checked
Who has authority to instruct payments from a trust account, what the deed decides, and the checks a payments provider makes before money leaves.
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Compliance · 8 min read
MSB vs bank vs electronic money institution: what each can do and when each fits
How a bank, a Canadian money services business and a UK or EU electronic money institution differ on permissions, safeguarding and deposit insurance.
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New to the terminology? See the glossary of payments and compliance terms.
- OnboardingOpening a payments account for an offshore company: the document checklistA full checklist for opening a payments account for an offshore company: corporate records, ownership, people, source of funds, purpose and common delays.9 min read
- ComplianceBeneficial ownership in multi-layer structures: the 25% threshold explainedHow the 25% beneficial ownership test works through holding companies, trusts and nominees, with worked examples and what happens when no one qualifies.10 min read
- iGamingPayments for licensed iGaming businesses: what providers look forHow payment and FX providers assess licensed iGaming businesses: business versus player flows, licences, group structures, affiliates, policies and documents.9 min read
- Foreign exchangeHow business spot foreign exchange works, from quote to settlementA step-by-step guide to business spot FX: requesting a quote, booking, pricing, value dates, funding, settlement, confirmations and internal controls.10 min read
- TrustsMaking payments from a trust: who can instruct, and what is checkedWho has authority to instruct payments from a trust account, what the deed decides, and the checks a payments provider makes before money leaves.9 min read
- ComplianceMSB vs bank vs electronic money institution: what each can do and when each fitsHow a bank, a Canadian money services business and a UK or EU electronic money institution differ on permissions, safeguarding and deposit insurance.8 min read
- OnboardingCertified true copies explained: who can certify and what the wording should sayWhat a certified true copy is, who can certify documents for KYC, the wording certifiers should use, digital certification and why copies get rejected.8 min read
- OnboardingHow to draw an ownership chart for KYC, with indirect ownership worked examplesA step-by-step method for drawing a KYC ownership chart: what to show at each layer, how to calculate indirect ownership, and how to show trusts and nominees.8 min read
- OnboardingCertificate of incumbency vs certificate of good standing: what each one provesHow a certificate of incumbency differs from a certificate of good standing, who issues each, what they contain and how recent they need to be for onboarding.8 min read
- OnboardingNominee directors and shareholders: legitimate uses and what providers need to seeLegitimate uses of nominee directors and shareholders, the documents payments providers expect, how declarations of trust work and the red flags to avoid.8 min read
- OnboardingProof of address requirements for business account onboardingWhich proof of address documents providers accept, how recent they must be, solutions for expatriates and people with several homes, and corporate addresses.8 min read
- OnboardingSource of funds evidence for business payments, with examples by client typeHow source of funds differs from source of wealth, what evidence supports specific payments, and worked examples for trading companies, trusts and operators.8 min read
- OnboardingSource of wealth evidence: what documents prove how wealth was builtWhat counts as source of wealth evidence for business sales, inheritance, salary, investments, property and crypto gains, and how proportionality applies.8 min read
- OnboardingDocument translations, apostilles, legalisation and notarisation explainedWhen onboarding documents need a certified translation, a notary, an apostille or full legalisation, how each works and how to avoid paying for the wrong one.8 min read
- OnboardingWhy business payments account applications are declined, and how to fix each issueWhy payments providers decline business account applications, from unverifiable ownership to unexplained funding, and how to fix each issue before reapplying.8 min read
- ComplianceCanadian sanctions laws: an overview of the main statutes and how they affect paymentsAn overview of the main Canadian sanctions statutes, how country and individual listings work, who must comply, and what they mean for international payments.8 min read
- ComplianceEnhanced due diligence explained: when it applies and how to prepare for itWhen enhanced due diligence applies to a business client, what it involves in practice, examples from higher-risk sectors and structures, and how to prepare.8 min read
- ComplianceFATF high-risk jurisdictions: the black and grey lists and what they mean for paymentsHow the FATF black and grey lists work, the difference between a call for action and increased monitoring, and what each means for onboarding and payments.8 min read
- ComplianceFINTRAC MSB registration explained: what it involves and what it means for clientsWhat FINTRAC registration involves for a money services business, what information FINTRAC holds, how renewal works and what registration does not mean.8 min read
- ComplianceHow to verify a money services business on the FINTRAC registryA step by step guide to checking a provider on the FINTRAC MSB registry: name, number, activities, status and address, plus warning signs of unregistered firms.8 min read
- ComplianceInternational electronic funds transfer reporting in Canada: the CAD 10,000 ruleHow international EFT reporting works in Canada, including the CAD 10,000 threshold and the 24-hour rule, and why a report is routine rather than a red flag.8 min read
- CompliancePeriodic reviews and KYC refresh: why providers update your file and how to prepareWhy payments providers refresh client KYC files, the events that trigger an early review, what is usually requested and how to make periodic reviews painless.8 min read
- CompliancePolitically exposed persons (PEPs) explained: categories, checks and disclosureWho counts as a politically exposed person, how family members and close associates are treated, what enhanced checks involve and how to disclose PEP status.8 min read
- ComplianceSanctions screening explained: how payment providers check names and what a hold meansHow sanctions screening works at a payment provider: which lists are used, how fuzzy matching creates false positives, and what happens when a payment is held.8 min read
- ComplianceThe PCMLTFA explained for clients of a money services businessWhat Canada's anti-money laundering law means for clients of an MSB: identification, records, why providers ask questions, reporting and the tipping-off rule.8 min read
- ComplianceThe travel rule explained: what information must travel with a paymentWhat the travel rule requires for wire transfers and virtual currency transfers, why it exists, and which sender and recipient details clients must provide.8 min read
- ComplianceWhat is a money services business in Canada and how does it differ from a bankWhat makes a business a money services business in Canada, which activities count, how foreign MSBs are caught, and how an MSB differs from a bank.8 min read
- Foreign exchangeCurrency risk for businesses: transaction, translation and economic exposure explainedA plain guide to business currency risk: transaction, translation and economic exposure, how to map them, and practical ways to manage conversion timing.8 min read
- Foreign exchangeWhy an FX provider uses EUR as its base currency, and how cross rates workWhat it means when an FX provider uses the euro as its base currency, how cross rates such as GBP/PLN are built through EUR, and when this affects your costs.8 min read
- Foreign exchangeConverting EUR to PLN for Polish subsidiaries, studios and payroll entitiesA practical guide to converting euros into Polish zloty for subsidiaries, studios and payroll entities: timing, payment rails, holidays and documentation.8 min read
- Foreign exchangeFX treasury for multi-entity groups: centralising conversions, intercompany funding and approvalsHow groups with several companies can organise currency conversions: central or local models, intercompany funding, documentation and approvals by entity.8 min read
- Foreign exchangeFX value dates explained: trade date, T+0, T+1, T+2 and holidaysLearn the difference between trade date and value date in FX, how T+0, T+1 and T+2 work, and how holidays, cut-offs and closed markets move settlement.8 min read
- Foreign exchangeHow FX pricing works: spreads, margins and the all-in rateHow currency rates are priced for businesses: interbank rates, spreads, margins, fees and all-in cost, plus a worked example of comparing quotes fairly.8 min read
- Foreign exchangeHow to read an FX trade confirmation: every field explainedA field-by-field guide to FX trade confirmations: what each line means, what to check on the day it arrives, and which records to keep for your auditors.8 min read
- Foreign exchangeHow the Hong Kong dollar peg works, and what it means for business paymentsHow the Hong Kong dollar peg to the US dollar works, what the 7.75 to 7.85 convertibility band means, and how businesses decide between paying in HKD or USD.8 min read
- Foreign exchangeThe mid-market rate explained: what it is and how businesses should use itWhat the mid-market exchange rate is, how it is calculated, why nobody deals at it, and how a business can use it as a fair benchmark for FX costs.8 min read
- Foreign exchangeWhy USD/CAD settles T+1, and what it means for Canadian and US businessesWhy spot USD/CAD settles one business day after the trade, how US and Canadian holidays affect it, and what T+1 means for funding and cross-border payments.8 min read
- PaymentsBatch payouts explained: file layout, payee checks, funding and reconciliationHow a batch payout run works from file to reconciliation: payee onboarding, screening, funding, handling partial holds, plus a sample file layout you can adapt.8 min read
- PaymentsIBAN, BIC and local account numbers: formats and common errorsHow an IBAN is built, what a BIC identifies, and how UK sort codes, US ABA routing numbers and Canadian transit numbers work, with errors that cause returns.8 min read
- PaymentsOUR, SHA and BEN: who pays international wire fees and why beneficiaries receive lessHow the OUR, SHA and BEN charge options work on international wires, with worked examples, and why a beneficiary often receives less than the amount sent.8 min read
- PaymentsHow to pay affiliates internationally: verification, tax forms, schedules and currencyHow to run affiliate payouts across borders for iGaming and online businesses: verifying partners, tax forms, payment schedules and currency choice.8 min read
- PaymentsPaying suppliers in Hong Kong, China and Singapore: currencies, documents and delaysHow to pay suppliers in Hong Kong, mainland China, Singapore and the wider region: choosing USD, HKD or CNH, what documents banks expect and why delays happen.8 min read
- PaymentsHow to write payment references and purpose descriptions that clear first timeWhy banks care about payment references and purpose, how to write ones that clear bank checks, how regional purpose codes work, and good and bad examples.8 min read
- PaymentsInternational payment returns and recalls: why they happen and what you can get backWhy international wires are returned, how recall requests work, what timelines look like in general terms and what you can and cannot recover once funds land.8 min read
- PaymentsTracking an international payment with a UETR: what gpi statuses meanWhat a UETR is, how SWIFT gpi tracking works, what common status updates mean in plain terms and exactly what to ask for when an international payment is late.8 min read
- PaymentsSEPA payments explained: credit transfers, instant payments and when SWIFT appliesWhat SEPA is, how SEPA credit transfers and SEPA Instant differ, who can send and receive them, how limits work in general terms and when a SWIFT wire is used.8 min read
- PaymentsHow a SWIFT payment works: banks, messages, timing and feesHow a SWIFT international wire moves between banks, what MT103 and pacs.008 messages carry, why timing varies and where deductions come from along the way.8 min read
- PaymentsWhy international payments get held, and how to clear a compliance query quicklyCommon reasons banks hold international wires, from name mismatches and sanctions near-matches to vague purposes, and how to answer a query quickly and fully.8 min read
- iGamingB2B iGaming supplier payments: platforms, game studios, data, hosting and intercompany flowsHow licensed operators should document payments to platforms, game studios, data and hosting suppliers, plus intercompany flows inside gaming groups.8 min read
- iGamingCrypto and iGaming payments: how crypto-accepting operators are assessedHow payment providers assess iGaming operators that accept crypto: licence scope, wallet screening, source of funds, and conversion to fiat for business costs.8 min read
- iGamingCuraçao gaming licence reform: what the LOK means for operators and paymentsWhat changed when Curaçao replaced its master licence system with the LOK and the Curaçao Gaming Authority, and how payment partners review Curaçao operators.8 min read
- iGamingGeo-blocking and market licensing: why unlicensed markets are a payments riskWhy serving unlicensed markets puts iGaming payment relationships at risk, how geo-blocking controls work, and the evidence payment providers ask for.8 min read
- iGamingiGaming affiliate payments: due diligence, contracts, payouts and red flagsHow licensed iGaming operators should vet, contract, screen and pay affiliates, and the warning signs, such as rogue affiliates, that providers look for.8 min read
- iGamingIsle of Man online gambling licences: how GSC licensing works and what it means for paymentsA general guide to Isle of Man online gambling licensing by the Gambling Supervision Commission, why operators choose it, and how payment providers assess it.8 min read
- iGamingKahnawake Gaming Commission licences: what they cover and how payment providers assess themWhat the Kahnawake Gaming Commission licenses in general terms, how providers assess Kahnawake-authorised operators, and the market questions they raise.8 min read
- iGamingMalta Gaming Authority licences explained: B2C, B2B and what they signal to payment providersAn overview of Malta Gaming Authority B2C and B2B licences, how Malta-centred iGaming groups are structured, and what an MGA licence tells payment providers.8 min read
- iGamingReconciling iGaming processor settlements: reserves, chargebacks and moving fundsHow iGaming finance teams reconcile processor settlements, account for reserves, rolling reserves and chargebacks, and then convert and move funds.8 min read
- iGamingHow the Ontario iGaming market works: operators, suppliers and paymentsA general guide to Ontario regulated iGaming: the roles of iGaming Ontario and the AGCO, operator and supplier obligations, and what payment partners look for.8 min read
- iGamingUK Gambling Commission licensing: an overview for operators, suppliers and their payment partnersAn overview of UK Gambling Commission licensing for remote operators and software suppliers, key obligations, and how payment partners view UKGC licensees.8 min read
- BrokerageBroker group structures: how multi-entity brokerage groups are organised and fundedHow a typical multi-entity broker group fits together across EU, UK, offshore, service and technology companies, and how money should flow between each entity.8 min read
- BrokerageBroker payment flows mapped: every flow in a brokerage and who should handle itA map of every payment flow in a brokerage, from client deposits to LP margin, vendors, IB rebates and payroll, with the type of provider suited to each one.8 min read
- BrokerageTreasury management for brokers: currency exposure, conversions and intra-group fundingA plain guide to broker treasury: where currency exposure comes from, how conversions and intra-group funding are organised, and what records to keep on file.8 min read
- BrokerageCFD brokers and Canadian clients: registration, CIRO and what payments partners checkWhy offering CFDs to Canadian residents requires provincial registration and CIRO membership, and how payments partners check a broker's Canadian client policy.8 min read
- BrokerageChoosing a payments partner for your brokerage: a practical checklistA checklist for brokers choosing a corporate payments partner, covering regulatory fit, sector knowledge, screening, platform, batch payouts, FX and people.8 min read
- BrokerageClient money segregation for brokers: why client and corporate funds must stay apartWhat client money segregation means for a broker, how segregated accounts and reconciliations work, and why it shapes which payments partners a broker can use.8 min read
- BrokerageCySEC licensing for investment firms: CIF authorisation, MiFID and passporting explainedHow Cyprus Investment Firm authorisation works under MiFID, what passporting allows, and what a CySEC licence tells banks and payments partners about a broker.9 min read
- BrokerageIntroducing broker rebate payments: agreements, verification, payout runs and red flagsHow brokers structure introducing broker agreements, verify IBs, run rebate payouts on a schedule, keep tax records in order and spot warning signs early.8 min read
- BrokerageLiquidity provider payments for brokers: margin top-ups, settlements and timingHow brokers fund liquidity provider accounts, handle margin calls and settlements, manage currency and timing, and keep the paperwork payments partners expect.8 min read
- BrokerageSeychelles and Mauritius broker licences: how offshore brokers are licensed and assessedA practical look at broker licensing by the Seychelles FSA and Mauritius FSC, how payments providers assess offshore regulators, and where they fit in a group.8 min read
- Digital assetsConverting crypto to fiat for business: source of assets, wallet checks and recordsHow businesses convert digital assets to fiat through a regulated provider: source of assets, wallet checks, on-chain screening, the travel rule and records.8 min read
- Digital assetsOn-chain analytics explained: risk scores, exposure and flagged fundsWhat blockchain analytics tools show, how risk scores and direct or indirect exposure work, and what happens when crypto funds are flagged by a provider.8 min read
- Digital assetsStablecoins for business treasury: uses, risks and converting to fiatHow businesses use stablecoins in treasury and payments, the issuer, depeg and regulatory risks involved, how conversion to fiat works and what records to keep.8 min read
- Digital assetsWallet ownership verification: how it works and why providers ask for itHow providers verify that a client controls a crypto wallet, from signed messages to test transactions, and how self-hosted and exchange wallets differ.8 min read
- AdultAge and consent verification for adult content businesses: what payment partners expectHow adult businesses verify the age, identity and consent of participants, what records to keep, when to re-verify, and what payment partners will ask to see.9 min read
- AdultWhy legal adult businesses struggle to get banked, and how providers assess themWhy lawful adult businesses lose bank accounts, what payment providers really review, and how to build a file that shows strong controls rather than a category.9 min read
- AdultContent moderation and takedown processes: why payment partners care and what good looks likeWhy moderation and takedown processes decide whether adult platforms keep payment partners, and what a well designed process looks like from upload to removal.9 min read
- AdultCorporate structures for adult platforms and studios: entities, flows and documentationHow adult platforms and studios commonly organise platform, studio, payments and IP entities, how money moves between them and the paperwork behind each flow.9 min read
- AdultHow to run creator payouts for an adult content platformA practical guide to creator payout operations: onboarding, verification, tax information, payout schedules, currencies, sanctions screening and reconciliation.9 min read
- AdultRecord keeping for adult content platforms and producers, including 2257Record keeping for adult platforms and studios: US 2257 records, what to keep for each item of content, retention, secure storage, audits and partner reviews.9 min read
- DefenceArms embargoes and payments: screening destinations, parties and diversion riskHow arms embargoes work, how payment partners screen destinations and parties, how diversion risk is assessed, and which defence payments get declined.9 min read
- DefenceCanadian brokering permits: what counts as brokering and when you need a permitWhat brokering means under Canadian trade controls, who may need a brokering permit, how it differs from an export permit and what it means for payments.8 min read
- DefenceCanadian export controls explained: the Export and Import Permits Act and Export Control ListAn overview of Canadian export controls under the Export and Import Permits Act and Export Control List, how permits work and what payment partners ask for.9 min read
- DefenceDual-use goods: classification, licences, end-use checks and payment documentationHow dual-use goods are identified and classified, when export licences apply, how to run end-use checks and what documents support payments for dual-use trade.9 min read
- DefenceEnd-user certificates and end-user statements: what they are and how they support paymentsWhat end-user certificates and statements contain, who signs them, how to check them and how they help payment partners approve defence and dual-use trades.9 min read
- DefenceThe Canadian Controlled Goods Program: who must register and what it means for suppliersWhat the Canadian Controlled Goods Program is, who has to register, the duties that follow, and how registration affects supply chains and payment reviews.9 min read
- JurisdictionsBVI business company: registered agents, documents and paymentsA practical guide to the BVI business company: its main features, the registered agent role, key documents, beneficial ownership, substance and payments.9 min read
- JurisdictionsCayman Islands exempted company: governance, documents and paymentsHow a Cayman Islands exempted company works, what its registry documents show, how beneficial ownership and substance apply, and what payment providers ask for.10 min read
- JurisdictionsHow to choose a holding company jurisdiction: legal system, reputation, banking and substanceThe general factors groups weigh when choosing a holding company jurisdiction, with a qualitative comparison of Cayman, BVI, Cyprus, Hong Kong and others.8 min read
- JurisdictionsCook Islands international trusts: how they work and what payment providers needAn overview of Cook Islands international trusts: their main features, the licensed trustee company, why families use them and what payment providers ask for.8 min read
- JurisdictionsCyprus holding companies: why groups use them, documents and euro paymentsWhy international groups place holding companies in Cyprus, which corporate documents a Cyprus company produces and how euro payments and FX work for them.8 min read
- JurisdictionsEconomic substance rules: what they require and how they affect banking and paymentsWhat economic substance rules are, which relevant activities they cover in Cayman, the BVI and elsewhere, and how substance affects banking and payments.8 min read
- JurisdictionsHong Kong companies: records, significant controllers and paying in AsiaThe basics of a Hong Kong limited company, its statutory records and significant controllers register, and practical points on HKD, USD and payments in Asia.8 min read
- JurisdictionsIsle of Man companies: 1931 Act versus 2006 Act, regulators and paymentsThe differences between Isle of Man 1931 Act and 2006 Act companies, the documents each produces, the island regulators and what payments providers look for.8 min read
- JurisdictionsMalta gaming companies: group structures, documents and payment flowsHow Malta companies and online gaming groups are commonly set up, which documents a Malta gaming entity produces and what payments providers look for.8 min read
- JurisdictionsNevis LLC: features, asset holding uses and payment account requirementsHow a Nevis limited liability company works, why it is used for holding assets, which documents it produces and what payments providers ask Nevis LLCs for.8 min read
- JurisdictionsSetting up and running a Polish company as a foreign group: KRS, CRBR and PLN paymentsHow foreign groups set up and run Polish companies in general terms, what the KRS and CRBR records show, and how PLN payments and payroll flows usually work.8 min read
- JurisdictionsSeychelles IBC: features, registers, beneficial ownership and payment provider viewsAn overview of the Seychelles IBC: its main features, the registers it must keep, beneficial ownership rules and how payment providers assess these entities.8 min read
- TrustsChanging trustees: what happens to accounts, signatories and paymentsWhat happens to trust accounts when trustees change: the deeds required, new signatories, KYC updates, pending payments and a step-by-step handover plan.8 min read
- TrustsDiscretionary trust distributions: decisions, records and making the paymentHow trustees decide on discretionary distributions, what to record, when beneficiaries must be identified, and how to handle currency and timing of payment.8 min read
- TrustsFamily office treasury: managing cash and currency across entitiesHow a family office can organise cash, currency and payments across trusts, companies and individuals, with sound approvals, reporting and provider choices.8 min read
- TrustsFoundations vs trusts: the differences in plain termsHow private foundations and trusts differ in ownership, governance and control, how each is onboarded by a payments provider, and a side-by-side comparison.8 min read
- TrustsWhat is a letter of wishes, and why it matters to trustees and onboardingWhat a letter of wishes is, why it is not binding, how trustees use it in decisions, when providers may ask about it, and how to keep it confidential.8 min read
- TrustsPrivate trust companies: ownership, governance and opening accountsWhat a private trust company is, why it is often owned by a purpose trust or foundation, how its board should run, and what onboarding a PTC involves.8 min read
- TrustsWhat does a trust protector do, and how do protector powers affect paymentsA practical guide to trust protectors: typical powers, consent and removal rights, fiduciary duties, and how protector approval fits into payment instructions.8 min read
- OperationsAudit trails for payments: what to record and why auditors careWhat a good payment audit trail records, from user logins to approvals and changes to payees, why auditors and regulators rely on it, and how long to keep it.8 min read
- OperationsHow to choose an FX and payments provider for your business: a practical checklistA practical checklist for choosing a business FX provider: registration, pricing transparency, confirmations, onboarding, sector fit, people and platform.8 min read
- OperationsDual authorisation for business payments: limits, roles and fraud preventionWhy two-person approval protects payments, how to set limits and user roles, how separation of duties works and the frauds it stops, such as email compromise.8 min read
- OperationsMulti-entity treasury platforms: managing many entities in one placeHow a multi-entity payments platform works: switching between entities, setting permissions per entity, consolidated reporting and approvals that scale.8 min read
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