Prop Firm Payout Friction: KYC/AML vs. Actual Bank Fees
Anyone else getting tired of the endless KYC/AML dance when it comes to prop firm payouts? It feels like some firms use the 'regulatory compliance' card as an excuse for what ultimately boils down to a slow, clunky process or, worse, for shaving off a few extra basis points. I understand the need for due diligence, but when my bank's international transfer is faster than getting funds released from the prop account, something's off.
Are we looking at genuine infrastructure limitations or a convenient way to hold funds for a few extra days? Curious to hear if others have seen a noticeable difference in payout speed and transparency across various firms, or if it's just the nature of the beast once you're dealing with larger sums and more scrutiny.
It's definitely a common complaint. While KYC/AML is necessary, the variance in processing times and fees between firms does suggest some are more efficient, or perhaps less incentivized to be, than others. Have you found any particular firms to be notably better or worse in this regard?