Prohibited Activities
Grasshopper Bank prohibits certain activities to keep our clients and bank safe. These activities include a business purpose of or any entity with funds derived from or to be used for the following purposes:
- Cryptocurrency
- NFTs
- Gambling
- Shell Banks
- Hard Money Lenders
- Sanctioned and Prohibited Countries
- Cannabis
- Adult Entertainment
- Any illegal activity
Restricted Entities or Activities
Grasshopper Bank restricts certain activities and business types to keep our clients and the bank safe. These activities may require approval prior to onboarding and are subject to additional due diligence:
- Third Party Payment Processors
- Money Service Businesses
- Pawn Brokers
- Firearms/Weapons
- Non Bank Financial Institutions
- Foreign Financial Institutions
- Non-Profit Organizations
- Foreign Entities
- Religious Organizations
The prohibited and restricted activity types may be subject to change as deemed necessary by Grasshopper Bank. The Bank reserves the right to decline or close a relationship upon review of activity that does not align with business or compliance objectives.
For more information, please refer to our Prohibited & Restricted Activities Guidelines or Master Service Agreement.
If you’re unsure whether your business or activities are permitted, please contact Client Services.
