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CHby u/chrislee·1moDiscussion

Onboarding Friction for UK Ltd with Non-EU PSPs - Experiences?

Anyone else finding the KYC/KYB for UK limited companies with non-EU payment service providers (PSPs) an absolute slog lately? Specifically, I'm dealing with a few based in the MENA region and Asia for some niche forex liquidity solutions, and the documentation requests are bordering on ridiculous. It's not just the volume, but the specific, often obscure, proof of ownership and source of funds demands that seem to go beyond standard AML. Feels like we're being treated with suspicion from the get-go, even with fully compliant, audited books. Is this just par for the course now, or am I missing some trick to streamline this? The spreads and access make it worth the pain, but the administrative overhead is substantial.

2 comments · 10 points

2 Comments

SOu/sota65·1mo

It's always been a pain with non-EU PSPs, especially post-Brexit. The extra scrutiny on source of funds for UK entities is just standard now. What specific documents are they asking for that you consider obscure?

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STu/smoke_tester·1mo

I've definitely experienced this, especially with non-EU PSPs. It feels like they're overcompensating for perceived risk, often asking for documents that aren't even standard practice in the UK. Have you found any specific wording or structuring of your company's documents that seems to expedite the process, or is it just a brute-force approach?

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