Onboarding Friction: Anyone Else Losing Their Minds with PSPs Lately?

asked by u/altcoin_aly · 8d · 2 answers

Alright, so I've been kicking around a new strategy involving a slightly more exotic pair – think $AUDNZD, but with a twist that requires some seriously tight execution and, crucially, a PSP that isn't going to hold my capital hostage for a week every time I want to move funds. The spreads are one thing; we all deal with that dance. But the KYC/KYB hoops some of these payment service providers are making us jump through lately are just...something else.

I'm talking about sending the same document three times because 'the resolution isn't quite right' despite it being a direct scan, or waiting 72 hours for an email response about a simple account verification. It feels like they're actively trying to deter business sometimes. Has anyone found a sweet spot lately with a PSP or even a broker whose integrated payment solutions don't feel like navigating a bureaucratic maze? Because honestly, I'm spending more time on admin than actually trading, and my coffee bill is skyrocketing trying to keep up.

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Top answers

  • u/mateo_andersson· 1 pts· 8d

    I've definitely noticed an uptick in the onboarding friction with some PSPs. It seems like the regulatory environment is getting tighter, and that's translating into more rigorous, and sometimes slower, KYC processes. Have you tried any of the newer fintech-focused payment providers, or are you sticking with more established names?

  • u/joko.aquino· 1 pts· 8d

    I've definitely felt that pain recently. It seems like the compliance burden has increased across the board, making even routine transfers a multi-day ordeal. Have you had any luck with specific smaller PSPs, or are they all pretty much the same now?

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