At Teya, our mission is to level the playing field for small businesses, empowering them to compete, grow, and thrive. We believe in making financial services accessible to everyone, providing the tools and infrastructure that small businesses need to succeed. However, as a financial services provider, we must also adhere to regulations and policies that protect our platform, our users, and the broader financial system.
This means that while we strive to enable as many businesses as possible, there are certain business activities that we cannot support due to the risks they pose. We understand that these restrictions can sometimes feel limiting, so we want to be transparent about why certain businesses are excluded and how this helps ensure the integrity and trustworthiness of our platform.
In some cases, the restrictions we enforce are shaped by the requirements of our banking and payment partners, who operate under their own regulatory frameworks. Teya collaborates closely with these partners to review and refine these policies as the market evolves. While we advocate for changes that better reflect the needs of small businesses, we must comply with the current guidelines to ensure the continued reliability and security of our services.
Prohibited Business Activities
The following businesses are prohibited from using Teya's services:
Money Transfer Services |
Note: Corner shops offering money transfer as a secondary service are allowed, subject to enhanced monitoring. |
Digital Goods |
|
Pawn Shops and Salvage Yards |
|
Firearms |
Note: Sales of firearms are strictly prohibited. Only on-site rental of guns and sale of ammunition for shooting range use is permitted. Any business allowing customers to purchase firearms or remove them from the premises must be blocked. Additionally, the sale of ammunition for use outside the premises is also blocked. Onboarding is subject to the businesses holding a valid licence to offer on-premise shooting services and provide ammunition for said services. |
Direct Marketing |
|
Cash Disbursement and Quasi-Cash Businesses |
|
Gambling Transactions |
|
Political and Religious Organisations |
|
Auction Houses and Real Estate Services |
|
Dating Services |
|
Sale of Used Motor Vehicles |
|
Restricted Business Activities
The following businesses require additional due diligence before Teya can fully provide services. Approval is evaluated on a case-by-case basis, and Teya reserves the right to revoke or modify access based on evolving risk factors.
Restricted Business Categories and Requirements
Clubs |
Verification is required to confirm that no adult entertainment or prostitution is involved. |
Massage Parlours |
Proof of licensing or other evidence of legitimacy is mandatory. |
Jewellery and High-Value Goods |
May require additional documentation, including evidence of trading for at least three years, invoices related to previous sales, or acquirer statements covering at least three months. |
Charities |
Proof of registration and verification with local authorities is required. Financial statements covering the last three years may also be requested. Note: Entities structured as trusts are strictly prohibited and cannot be served under any circumstances. |
Motor Servicing and Auto Garages |
Documentation confirming the legitimacy of the business is required. |
Travel Agencies |
Verification of valid travel licenses is mandatory. |
Shooting Ranges |
Onboarding is subject to the businesses holding a valid licence to offer on-premise shooting services and provide ammunition for said services. |
Craftsman/Contractor |
Evidence of service contracts or agreements may be requested to verify business legitimacy. Contractors in the UK can only be accepted if their trading address and store verification proof are for a commercial addresses (workshop/showroom/office space); UK merchant’s trading from a home address are blocked. |
Real Estate Services |
Additional documentation may be requested to verify business legitimacy. This may include property deeds, purchase contracts, or acquirer statements. |
Art Dealers and Galleries |
May require additional documentation, including evidence of trading history or acquirer statements covering at least three months. |
Car Sales |
May require additional documentation verifying the origin of vehicles and legitimate transaction records. Sale of used cars is prohibited. |
Online Education |
Proof of licensing or other evidence of legitimacy is mandatory. |
High-Risk Jurisdictions and Individuals
Teya prohibits the use of its services for any dealings, engagement, or sale of goods or services either directly or indirectly with the following:
- High-risk jurisdictions – Individuals located in, resident in, or born in jurisdictions identified by Teya as high-risk. Products or services originating from these jurisdictions.
- High-risk individuals – Individuals identified by Teya as prohibited for legal, contractual, or commercial reasons, including those listed on restricted person or party lists maintained by the United Kingdom, European Union, United Nations, or the US Office of Foreign Assets Control (OFAC).
- This list is subject to periodic review and may change based on evolving regulations.
- If you are unsure about your business’s eligibility, please contact our support team for further guidance.
At Teya, we recognise that technology, regulations, and business models are constantly evolving. As the landscape changes, the types of businesses we can support will also continue to adapt. We remain committed to listening to feedback from our members and collaborating with our financial partners and regulators to expand our services to innovative businesses. Our approach will evolve to ensure we support small businesses while upholding the integrity and security of our platform.