Onboarding pain: Any 'seamless' KYB for higher-volume PSP accounts?
Alright, so I've been wrestling with a few PSPs lately for a new venture, specifically trying to get higher processing limits on card acquiring and even some crypto rails. It's the usual song and dance, but the KYB process has been exceptionally tedious. I understand the regulatory burden, absolutely, but it feels like some of these providers are actively trying to make it as difficult as possible to actually process funds.
Between the endless document requests, the 'we need this exact format or it's invalid' rejections, and the sheer lag in communication, it's eating into our launch timeline. One provider even sent back a request for a 'signed statement proving our operating address,' despite already having utility bills, company registration, and a lease agreement. I'm starting to think they want my firstborn's dental records as well.
Has anyone found a PSP that genuinely offers a streamlined, efficient KYB process for new accounts needing decent volume right out of the gate? Or are we all just destined to spend weeks playing administrative whack-a-mole with compliance departments? I'm not looking for shortcuts, just efficiency. The promise of 'easy onboarding' often seems to evaporate when you hit the 'actually want to send money' stage.
"Seamless" and "higher-volume KYB" are usually mutually exclusive. The more money involved, the more scrutiny. It's less about the PSPs making it difficult and more about them covering their own regulatory exposure.