Bank account for esports league?
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Bank account for esports league?
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I've been attempting to open a bank account for a sim racing league I'm starting. Our model is drivers will pay an entry fee which will be paid back as winnings throughout the season. I've formed an LLC for the venture and have been attempting to apply for a business checking account with no luck. Several banks have suggested my business involves gambling (it does not) and refused to work with me. I've tried online banks too. One issue I think I might have was that when I applied for my EIN number I selected "other" as my business category since none of the options seemed relevant. One banker mentioned this was a red flag for them. But for the most part I'm just getting 1000 yard stares from people who are unable to comprehend esports or how that could be a business.
Anyone ever dealt with this or have any insight?
competitive-gaming
asked 50 mins ago
Galen GidmanGalen Gidman
95
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Galen Gidman is a new contributor to this site. Take care in asking for clarification, commenting, and answering.
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I've been attempting to open a bank account for a sim racing league I'm starting. Our model is drivers will pay an entry fee which will be paid back as winnings throughout the season. I've formed an LLC for the venture and have been attempting to apply for a business checking account with no luck. Several banks have suggested my business involves gambling (it does not) and refused to work with me. I've tried online banks too. One issue I think I might have was that when I applied for my EIN number I selected "other" as my business category since none of the options seemed relevant. One banker mentioned this was a red flag for them. But for the most part I'm just getting 1000 yard stares from people who are unable to comprehend esports or how that could be a business.
Anyone ever dealt with this or have any insight?
competitive-gaming
asked 50 mins ago
Galen GidmanGalen Gidman
95
New contributor
Galen Gidman is a new contributor to this site. Take care in asking for clarification, commenting, and answering.
Check out our Code of Conduct.
Hello Galen. First off, welcome to Arqade! As you can see, this question is being closed as off-topic. We are here to answer questions related to playing games and their mechanics. This question looks to be asking for financial/banking assistance, which is out of our scope
– Wondercricket
9 mins ago
add a comment |
I've been attempting to open a bank account for a sim racing league I'm starting. Our model is drivers will pay an entry fee which will be paid back as winnings throughout the season. I've formed an LLC for the venture and have been attempting to apply for a business checking account with no luck. Several banks have suggested my business involves gambling (it does not) and refused to work with me. I've tried online banks too. One issue I think I might have was that when I applied for my EIN number I selected "other" as my business category since none of the options seemed relevant. One banker mentioned this was a red flag for them. But for the most part I'm just getting 1000 yard stares from people who are unable to comprehend esports or how that could be a business.
Anyone ever dealt with this or have any insight?
competitive-gaming
asked 50 mins ago
Galen GidmanGalen Gidman
95
New contributor
Galen Gidman is a new contributor to this site. Take care in asking for clarification, commenting, and answering.
Check out our Code of Conduct.
I've been attempting to open a bank account for a sim racing league I'm starting. Our model is drivers will pay an entry fee which will be paid back as winnings throughout the season. I've formed an LLC for the venture and have been attempting to apply for a business checking account with no luck. Several banks have suggested my business involves gambling (it does not) and refused to work with me. I've tried online banks too. One issue I think I might have was that when I applied for my EIN number I selected "other" as my business category since none of the options seemed relevant. One banker mentioned this was a red flag for them. But for the most part I'm just getting 1000 yard stares from people who are unable to comprehend esports or how that could be a business.
Anyone ever dealt with this or have any insight?
competitive-gaming
competitive-gaming
asked 50 mins ago
Galen GidmanGalen Gidman
95
New contributor
Galen Gidman is a new contributor to this site. Take care in asking for clarification, commenting, and answering.
Check out our Code of Conduct.
asked 50 mins ago
Galen GidmanGalen Gidman
95
New contributor
Galen Gidman is a new contributor to this site. Take care in asking for clarification, commenting, and answering.
Check out our Code of Conduct.
asked 50 mins ago
Galen GidmanGalen Gidman
95
New contributor
Galen Gidman is a new contributor to this site. Take care in asking for clarification, commenting, and answering.
Check out our Code of Conduct.
asked 50 mins ago
Galen GidmanGalen Gidman
95
asked 50 mins ago
Galen GidmanGalen Gidman
95
95
New contributor
Galen Gidman is a new contributor to this site. Take care in asking for clarification, commenting, and answering.
Check out our Code of Conduct.
New contributor
Galen Gidman is a new contributor to this site. Take care in asking for clarification, commenting, and answering.
Check out our Code of Conduct.
Hello Galen. First off, welcome to Arqade! As you can see, this question is being closed as off-topic. We are here to answer questions related to playing games and their mechanics. This question looks to be asking for financial/banking assistance, which is out of our scope
– Wondercricket
9 mins ago
add a comment |
Hello Galen. First off, welcome to Arqade! As you can see, this question is being closed as off-topic. We are here to answer questions related to playing games and their mechanics. This question looks to be asking for financial/banking assistance, which is out of our scope
– Wondercricket
9 mins ago
Hello Galen. First off, welcome to Arqade! As you can see, this question is being closed as off-topic. We are here to answer questions related to playing games and their mechanics. This question looks to be asking for financial/banking assistance, which is out of our scope
– Wondercricket
9 mins ago
Hello Galen. First off, welcome to Arqade! As you can see, this question is being closed as off-topic. We are here to answer questions related to playing games and their mechanics. This question looks to be asking for financial/banking assistance, which is out of our scope
– Wondercricket
9 mins ago
add a comment |
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Galen Gidman is a new contributor. Be nice, and check out our Code of Conduct.
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Hello Galen. First off, welcome to Arqade! As you can see, this question is being closed as off-topic. We are here to answer questions related to playing games and their mechanics. This question looks to be asking for financial/banking assistance, which is out of our scope
– Wondercricket
9 mins ago