Before applying for a Luno Business account, please note the broad categories of businesses and some notes for each category, and read the full article before applying for a business account, as it contains important information.
How to apply for a Business account
A Luno Business account will allow you to deposit your local currency only from your legal entity’s bank account to Luno, and use those funds to buy cryptocurrency. You can also integrate with the Luno API to build cryptocurrency features into your platform.
- On your desktop web browser, select 'Luno Business' on either the left sidebar or footer menu at the bottom of the screen
- Use your business email address to sign up
- Follow the steps presented to you (these steps will only be displayed if you're using Luno on your desktop and not on mobile)
- Our Compliance team will review your application
- If your application is successful, a representative will contact you with a request for the required documents
- If all of your documents pass inspection, you will be notified of your Business account approval
Business categories
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Businesses and service providers that want to allow their customers to pay them in cryptocurrency for their goods and services.
There are dedicated businesses that offer this service with dedicated e-commerce shopping carts, invoicing, donations, and point-of-sale integration with real-time exchange rate updating, automatic conversion into hundreds of local currencies, and other advanced selling features. (For example, see Bitpay.)
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Financial institutions and other businesses that want to use Luno to buy, sell, or store third-party funds (on behalf of the entity's customers).
The regulatory requirements to act as a broker are extremely stringent and you would need to prove to us that you are licensed to provide the service(s) in the country and currency of operation, and provide detailed information on your AML, ATF, and KYC policies. Luno will undertake comprehensive business viability and risk assessments before approving any such applications.
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Businesses involved in Bitcoin mining that wish to sell the proceeds of cryptocurrency mining on Luno.
We may require applicants to provide proof of mining activity.
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Businesses that want to use Luno to buy, sell, or store cryptocurrencies using the entity's own funds.
We encourage these customers to simply trade in their personal capacity. We'll approve certain applications that are low risk with high business viability. Proof of funds and documentation supporting high-volume activity may be requested.
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Businesses that need to pay invoices (pay for products or pay for services) using cryptocurrency.
We will consider these applications on a case-by-case basis.
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Businesses involved in crowdfunding, token sales or an ICO that want to sell the funds raised.
We will consider these applications on a case-by-case basis.
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Any other business activity not listed above.
We will consider these applications on a case-by-case basis.
Keep in mind
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Luno reserves the right to reject any application at its sole discretion
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The process of opening a Business account can be lengthy as we are required to conduct a risk and business viability assessment on all applicants
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The email address used to open your Business account will be used for all further communication; we will not be able to assist you should you contact us from any other email address
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Your Luno Wallet will only be credited with local currency deposits made from your legal entity’s bank account and withdrawals will only be processed to that bank account. Third-party withdrawals and deposits are not allowed
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You can only receive local currency deposits and process withdrawals in the business’ local currency
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The fees on Luno Business accounts are the same as for Luno individual accounts