When does the KYC charge actually accrue?
On completion - so incomplete or abandoned KYCs do not cost the firm anything.
The charge is taken when the customer completes the VOI successfully, not when the link is sent. This means failed or abandoned KYCs (customer never clicks the link, abandons mid-flow, fails verification and walks away) don't cost the firm anything.
Freemium plans are charged on send to prevent excessive use.
End-customer-paid VOIs are slightly different: a payment hold is placed when the VOI starts, and the charge is taken at completion. Failed VOIs are released as a hold drop within 7 days.
Related articles
- Can easyAML invoice end-customers directly for KYC/KYB fees?
- Will subscribers be able to disburse KYC/KYB costs to end clients?
- How long does a KYC/VOI link stay valid, and what happens if the client deletes or misses it?
- Can the KYC invoice be sent directly to the end client for payment?
- Does the firm pay easyAML for time spent supporting a client through their KYC?