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Banking in the Online Marketing Business

In online marketing, one of the most essential, yet challenging, aspects is simply managing banking. Finding a bank that understands our industry can be a unique challenge. If you receive payments from well-known online gambling operators, banking becomes even more complicated. Banks often struggle to understand online business models, and if your clients are primarily in the online gambling sector, your company may be categorized as high-risk — even if you’re only running a straightforward online marketing business.

For example, let’s say you run a successful affiliate business and relocate to a country with lower tax rates. If you incorporate in Malta or Cyprus and set up residence there, banking still won’t be easy. Despite Malta’s reputation as a hub for online gambling, local banks often decline business accounts for affiliates and marketing companies. I once worked on a project with a Maltese company, and our only banking option was SataBank. Unfortunately, this bank eventually went out of business due to high-risk clients, some of whom were engaged in money laundering. Years earlier, a similar crisis affected banks in Cyprus. I’ve experienced this firsthand, having run a business there for some time, but the challenges remained — especially with incoming payments from Malta and established gaming operators.

Our only viable solution then was to rely on EMIs (Electronic Money Institutions), which, while functional, don’t offer deposit protection under a deposit guarantee scheme. While they claim to be safer than traditional banks because they hold 100% of deposits, how quickly you can recover funds if an EMI fails remains a question.

More Banking Options Today

A few years ago, the options were limited, and EMIs were just beginning to emerge. Today, there are numerous EMIs — Lithuania alone has around 80. For my business needs, I avoid EMIs that openly promote themselves as “gambling friendly,” as my experience has shown this can attract additional scrutiny. Although we could use a local Estonian bank, we declined due to the high maintenance fees—reaching thousands of euros per month, which is excessive for a marketing business.

For online marketing businesses not considered high-risk, here are some recommended options:

Revolut Bank UAB

Revolut hardly needs an introduction. It’s a leading “neobank” that welcomes online businesses as long as they aren’t classified as high-risk. With a clean setup and legitimate business, online marketing clients are a good fit. Revolut initially launched as an EMI and still operates as one in the UK. In the EU, however, it’s a fully licensed bank with deposit protection up to €100,000.

You can apply for a business account here

Wamo.io

Wamo is an interesting new EMI well-suited for legitimate online marketing setups. Their debit cards are compatible with Google Ads, and Wamo offers fast onboarding with reasonable fees, making it a strong choice for smooth-running businesses.

You can apply for a business account here

JetonBank

JetonBank is managed by the same company behind Jeton Wallet and operates with an offshore banking license from Dominica. Though it’s an offshore bank, it provides tailored fees based on a client’s risk profile. JetonBank serves legitimate online gambling operators, affiliates, and subsidiaries with clean and compliant setups.

You can apply for a business account here