Requirements to open an account with Xonder

Before you apply, it’s worth checking if your business meets the criteria below.

We at Xonder would like to offer an account to as many businesses as possible. But unfortunately, there are some business activities and industries that we can’t support.

So before you apply for an account, we thought it would be useful to see a summary of who we can and can’t support:

Key eligibility criteria

  • Your business must be registered and trading in the UK

  • You’ll need to be a UK resident

  • You’ll need a UK phone number

  • You’ll need an iOS or Android device to open and manage the account. For Apple devices, you’ll need to be on iOS 12.2 or later and for Android you’ll need to be on 7.0 or later

  • Maximum account balance is £100k for limited companies and £50k for sole traders

  • You have to be 18 or over to open an account

Business types we don’t support

Here are some examples:
  • Public limited companies (PLC)
  • Private company limited by guarantee without share capital
  • Unlimited companies (Unltd)
  • Limited liability partnerships (LLP)
  • Community interest companies
  • Industrial and provident societies (IPS)
  • Royal charters (RC)
  • Charities (registered or unregistered)

Business activities we don’t support

Here are some example activities and industries that we currently don’t support:

  • Adult entertainment or services
  • Alcohol and tobacco manufacturing
  • Armaments and defence
  • Bidding fee auctions
  • Businesses with more than 2 Directors
  • Car wash services
  • Casinos, prize draws and other betting or gambling activities
  • CBD
  • Charities
  • CICs and CIOs
  • Dating
  • Debt Collection 
  • Distilleries
  • Electronic Cigarettes
  • Embassies and consulates
  • Escort services and other services in the adult industry
  • Freight shipping
  • Gambling
  • Mail Order/ Telephone Order (MOTO) Processing
  • Modeling agencies
  • Money services (such as foreign exchange, loan providers, money transfers)
  • Money Service Businesses (MSB) – eg foreign exchange
  • Multi-Level Marketing
  • Pharmaceutical companies
  • Political parties
  • Sale, import and export of used vehicles or heavy machinery
  • Sale or trade of cannabidiol (CBD) products
  • Sale of unlicensed pharmaceuticals
  • Some manufacturers (including manufacturers of rubber products, manufacturers of medical, dental or veterinary equipment, and others)
  • Trading of cryptocurrencies
  • Trading of precious metals and stones
  • Trading of weapons, explosives or armaments
  • Travel agencies
  • Trust and company service providers – eg involvement in formation of other companies
  • Unlicensed trading and processing of scrap metal
  • Unlicensed waste management
  • Web hosting

Have another question?

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