What's the typical onboarding fee that subscribers pass to their clients?
Many clients introduce a per-customer AML onboarding fee bundling VOI/KYC costs, a share of subscription, and a share of their internal costs.
Often easyAML subscribers introduce an AML onboarding or compliance fee on their own client invoices to recover the cost of running compliance. The structure that works best varies, but the most common approach is a per-customer fee that bundles:
- VOI/KYC/CDD costs (which can be passed through as an itemised disbursement)
- A share of the monthly subscription
- A share of setup, training, reporting and auditing time
A per-customer fee tends to work better than a per-transaction fee, because the number of individuals, companies and trusts vary significantly in complexity - beneficial-ownership tracing on a complex corporate structure takes much more time than a sole-trader KYC. A flat per-customer rate smooths that out and is easier to explain on the cost agreement.
Receipts for KYC and KYB charges are itemised so they can be passed through as disbursements on the cost agreement, which is how most firms recover the platform's per-transaction costs.
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