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Onboarding friction with new payment processors for prop firm payouts
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.
2 comments · 9 points
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.