Account management restrictions

Okoora platform is your ticket to seamless global expansion! While there are a few account limitations to navigate, we’ve got you covered. In our next article, we'll explore these limitations and show you how to maximize your potential. Stay tuned for insights that will take your business to the next level🚀

Non-supported countries:

Ukraine - Please be aware that all payments to Ukraine remain subject to delays due to the ongoing conflict and the increased sanctions risk. Currencycloud continues to monitor the situation regularly and will update this page with any changes. 

Myanmar-Due to the current military coup in Myanmar, all banks onshore have been instructed by the Myanmar Banks Association to remain closed. As the banking system is now offline, our banking provider is unable to process any payments to Myanmar until further notice.

Non-permitted industries GLOBAL:

• Weapons / military-grade security
• Multi-level marketing
• Pawnbrokers [MCC: 5933 - Pawn Shops]
• Political organizations [MCC: 8651 - Organizations, Political]
• Precious metals and stones, including diamond traders [MCC: 5094 - Precious Stones and Metals, Watches and Jewelry]
• Unauthorized re-sale of luxury goods - including watch traders
• Adult entertainment
• Drug paraphernalia
• CBD and related products
• Carbon credits, including carbon credits traders
• Cryptoassets
• Gambling [MCC: 7995 - Betting (including Lottery Tickets, Casino Gaming Chips, Off - track Betting and Wagers)]
• Ponzi / pyramid schemes
• Firms involved in the servicing of illegal goods/services including but not limited to: counterfeit goods/trademark infringement, human trafficking, child labor, prostitution.
• Mining and extraction
• Scrap metal traders
• Energy traders
• Speculative trading

Non-permitted industries USA:

• Chemicals
• FDA-classified medical devices 
• Medications or prescription drugs
• Alcohol [MCC: 5813 - Drinking Places (Alcoholic Beverages), Bars, Taverns, Cocktail lounges, Nightclubs and Discotheques]
• Tobacco [MCC: 5993 - Cigar Stores and Stands]
• Dietary supplements
• Seeds or plants [MCC: 5193 - Florists Supplies, Nursery Stock, and Flowers]
• Regulated financial services
• Outbound telemarketing [MCC: 5966 - Direct Marketing-Outbound Telemarketing Merchants]

Non-permitted activity:

• Clients are not allowed to use our services to speculate changes in FX
• Transactions deriving from crypto currencies
• Remittances funded in cash

Non-permitted client type:

• Financial Institutions making payments on behalf of other financial institutions, also known as ‘nested relationships’ or ‘layering.’
• Shell banks
• Unregistered charities

Okoora support team is available for any question through the chat system on the platform😎

Updated on: 10/10/2024