Sokin Pay Application Not Approved – What You Need to Know

We know it’s frustrating when something is not approved — and we’re here to help you understand why and how to improve your chances next time.

In some cases, customers may be eligible to reapply after 3 or 6 months. However, for others, the decision may be final due to a number of factors.  

Common Reasons for Application Rejection 

Each application goes through a careful review process and below are the most common reasons applications don’t get approved:

• Industry Risk - Your business may operate in an industry that falls outside our current risk appetite.

  
  

• Newly Incorporated - If your company has been active for less than 6 months, we might need more business history before proceeding.

  
  

• Chargeback or Dispute History - A pattern of chargebacks or disputes can affect approval, as it’s something we consider when assessing risk.

  
  

• Insufficient Financial History - To assess your application, we typically look for at least 6 months of card processing history and/or at least 6 months of company bank statements that reflect your business's financial activity.

• No Existing Business Bank History - If Sokin is your first business account, without a history of business transactions, we’re unable to move forward with a Sokin Pay account until at least 6 months' worth of transaction history is available.

Steps to Help You Get Approved Next Time 

If you've been invited to reapply in 3 or 6 months, here’s how to put your best foot forward: 

• Use Sokin Regularly - Keep sending and receiving funds — the more activity we see, the better.
  

• Show Consistent Processing Activity - If you’re currently using another payment provider, maintaining a consistent processing history helps us better understand your transaction volume and assess your risk profile.

• Avoid Disputes/Chargebacks - Keeping a clean transaction record with minimal disputes builds trust and improves your standing for future applications.

If you were told to reapply in 3 or 6 months, we’ll send you a reminder when the time comes. In the meantime you can still use your Sokin account for FX, money transfers, and all other available features.