Setting up Banking for new web site venture

Discussion in 'Free Talk for Website Owners and Webmasters' started by nashkj, Jan 14, 2010.

  1. nashkj

    nashkj aMember Pro Customer

    Feb 11, 2009
    Hi, I posted this question in a different area of the forum last year and got no response, as I am still faced with the same problem I thought I would post it here again in case someone can help.

    In short last year I set up a web site related to horse racing, I purchased amember and have the software running to control membership.

    I have an accountant on standby to set up a limited company for the name I want but this is on hold until I can resolve my problem ( I state it merely to show how serious I am)

    I now want to start charging for membership to the site and this is where the problems start. I need to find someone who will operate business banking and PSP for me (do not have to be the same company). Going through all the usual suspects, high street banks, Paypal, Worldpay etc they all say that they will not offer services any more to gambling related industries, even though they all accept I am not doing any bets on the site, or in fact doing anything illegal. Yet these same companies also currently process payments for Betfair etc.

    The state they would offer me an account if I had a trading history but of course without being able to process payments I cannot build a trading history.

    I am seriously trying to build a honest and legal business and am surprised that I am being stopped here, I am not asking for credit or anything like that, merely business banking and PSP.

    Has anyone any experience in this area and any suggestions how I get started?

    The only alternative I can see is to start all over again, set up a new hosting etc under some innocuous name such as flower art, set up a company in the same name and just play dumb. That would be dishonest I know but I feel I am being punished for being honest.

    I have been running the site successfully since last fab, have build up membership (easy I know whilst it is free) but have people happy with the service and perpared to pay I just cannot take the money from them.

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