Reasons Applications Are Denied

We know this can be frustrating. Our banking partners use several proprietary and third-party software during our application review process.
 

• Please note that your credit report is not used on your application and that any denied application will not impact you or your business.
   
• All of these systems are considered for your application. We’re required to stay within the boundaries of our banking partner’s rules and regulations to ensure a good banking experience for all of our customers.
   
• We understand the frustration that comes from having an application declined, and we do our due diligence to ensure that each application is thoroughly reviewed before a decision is made.
   
• For compliance reasons, we’re not allowed to explicitly state why your application was denied, but some of the most common reasons include:
  • Business is out of scope for our accounts - Unfortunately, ZenBusiness is unable to work with businesses related to cryptocurrencies, privately-owned ATMs, marijuana/cannabis, gambling, crowdfunding, telemarketing businesses or money services.
  • Unable to verify your identity
  • Country of residence is other than the United States.