Can the KYC invoice be sent directly to the end client for payment?
Yes, easyAML can generate a receipt to the end client.
Yes - as part of the end-customer-paid KYC option, easyAML can also generate a receipt to the end client. This is useful when the firm wants the cost to paid directly by the customer rather than the firm.
The mechanism: the firm initiates the transaction with the end client's billing details, the KYC runs as normal, easyAML generates an receipt in the end client's name once the KYC completes.
Practical considerations:
- Debt collection risk sits with the firm, not easyAML - if the end client doesn't pay, the firm is liable to easyAML for the cost.
- Some firms prefer the firm-pay + disbursement model for the same operational outcome with simpler debt management.
- The end-customer-paid KYC (above) avoids managing fee collection by taking payment at completion.
Related articles
- Can easyAML invoice end-customers directly for KYC/KYB fees?
- Will subscribers be able to disburse KYC/KYB costs to end clients?
- What's the typical onboarding fee that subscribers pass to their clients?
- Does easyAML provide cost disclosure templates and a Tranche 2 summary document for end-clients?
- Does the firm pay easyAML for time spent supporting a client through their KYC?