Relay cannot open accounts for business owners holding citizenship or residency in certain countries due to Thread Bank policy, U.S. sanctions, and federal law.
Which countries are prohibited?
Relay cannot open a Relay Account for any business owner who holds citizenship or residency in one of the following countries:
Afghanistan
Belarus
Bosnia and Herzegovina
Burkina Faso
Burma (Myanmar)
Burundi
Cambodia
Central African Republic
Congo (Democratic Republic)
Cuba
Ethiopia
Guinea-Bissau
Haiti
Iran
Iraq
Lebanon
Libya
Mali
Nicaragua
Nigeria
North Korea
Pakistan
Russia
Somalia
South Sudan
Sudan
Syria
Ukraine
Venezuela
Yemen
Zimbabwe
This list reflects current Thread Bank policy and applicable U.S. sanctions, and it can change without notice.
Who does this restriction apply to?
The restriction applies to any business owner named on the Relay Account application, including beneficial owners. If a required owner holds citizenship or residency in a listed country, Relay cannot open the account, regardless of where the business itself is registered.
Can a U.S. business with non-U.S. owners open a Relay Account?
In most cases, yes. Relay permits U.S. entities with non-U.S. citizen owners, and Relay also permits businesses based internationally. The prohibited-countries list above is the exception: if an owner's citizenship or residency is on that list, the account cannot be opened.
Are there any exceptions?
Exceptions can apply based on Thread Bank's case-by-case review. If you think your situation may qualify for an exception, contact our Customer Experience team before submitting an application so your case can be flagged for review.
How do I check if my business qualifies?
Start a Relay Account application at relayfi.com. During onboarding, you'll provide ownership details, and Relay's underwriting team will confirm eligibility. If you have questions before applying, our Customer Experience team can review your situation.
Related articles
Country Restrictions for Sending or Receiving International Wires
Required Documents and Organization Details to Open a Relay Account by Entity Type
Talk to our Customer Experience team
If this article did not fully answer your question, our Customer Experience team is here to help.