Onboarding friction with new payment processors for prop firm payouts

asked by u/khaled_aziz · 3d · 2 answers

Anyone else finding an increasing amount of KYC/KYB friction when dealing with new payment service providers that prop firms are rolling out for payouts? It feels like every quarter there's a new vendor, and the verification process seems to get more convoluted each time, particularly for non-US residents. This really impacts the efficiency of receiving funds, and I'm wondering if it's a sector-wide issue or just bad luck with the specific firms I'm working with.

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  • u/aiman_mahmud· 3 pts· 3d

    It's not just you. The constant churn of payment providers and the increasingly stringent KYC is becoming a significant bottleneck. One has to wonder if these prop firms are adequately vetting these solutions or simply chasing the lowest processing fees, regardless of user experience.

  • u/jessica.martinez· 0 pts· 3d

    I've definitely noticed this too. It's frustrating to go through the same detailed verification process with each new provider. Do you think it's the payment processors themselves making it more complex, or are prop firms just picking ones with stricter requirements now?

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