IBAN discrimination explained - and how to work around it
Have you ever tried to make a transaction and your IBAN has been refused? Perhaps you’ve been looking to pay a bill, make a transfer, or a purchase and you have been told you need a ‘local bank account’? If so, you’ve been told incorrectly. This is known as IBAN discrimination and it’s illegal.
The issue tends to occur when your bank account has an IBAN number that is attributed to a different country to where your bank or company is based. If this is the case, you might find that your IBAN is not accepted.
Although it is against the law, this is a problem that is happening more and more, largely because of the increasing number of businesses that are taking up e-residency in Estonia. Some of the companies which allegedly discriminate include Google ads, Google Play and Tik Tok, among others.
If this happens to you, you can report the company for investigation via a dedicated website; https://www.acceptmyiban.org. Whilst it is good that these issues are looked into, this will not help you in the short term, so if your IBAN is refused, how do you get around the problem so your company is not affected?
Well, the good news is that there is a solution! Let us introduce you to Mediahack, a performance marketing solution agency that provides an excellent workaround for the issue IBAN discrimination by offering whitelisted Ad accounts for lead generation, e-commerce, trading apps, or mainstream dating.
Who is Mediahack and how can they help me?
As a performance marketing solution company, Mediahack (yes, that is us!) can open an account on your behalf so you no longer encounter blocked accounts, enabling your company to continue to rapidly grow on various social media platforms. You, as the client, can still manage and place your ads as you normally would, but the settlement will go through the agency’s bank account (IBAN or credit card) rather than yours, getting around the issue of IBAN discrimination.
There are a number of options attached to our service, adding further benefits to your business. Firstly, you can choose to maintain all the rights to still manage the account, or we can do that for you.
Secondly, we do not put any budget restrictions in place.
And lastly, another perk is the high level of service that we can provide to you. Should anything happen to the account or one of your payments, our team will respond quickly, in order to resolve the issue.
Whether you’re looking to utilise Meta, TikTok, Google, Spotify, Snapchat, Outbrain, LinkedIn or Quora, we have more than 5 years of experience in digital marketing and know how to manage marketing spend without the hassle of any IBAN issues should your bank account not be local to the company in which your business is located!