Onboarding Friction with Payout Service Providers
Anyone else finding that the KYC/AML hoops for payout service providers (PSPs) are getting increasingly cumbersome, particularly when dealing with prop firm payouts? Seems like every few months there's a new layer of verification, making the initial setup and subsequent withdrawals far more time-consuming than necessary. Curious if this is a widespread issue or if I'm just hitting the wrong providers lately.
It's definitely not just you. The regulatory environment has tightened considerably, and PSPs are just passing that burden down. You might find some niche providers with a slightly less painful process, but overall, it's just the cost of doing business now.