Read this to learn how to respond to compliance requests from banks.
Why Compliance Requests are Important
For suppliers using bank transfer as their payment method, compliance with additional documentation requests is essential. These requests are mandated by our banking partner for regulatory reasons. Failure to comply will result in your payment not being received.
You Receive a Compliance Request
- Check the Email for Details: The email will specify the required documents or information, such as the beneficiary’s date of birth, full name, etc.
- Gather the Required Documents: Ensure you have all the necessary documents ready.
- Submit the Documents Promptly: Follow the instructions in the email to submit the documents by the specified deadline.
Actionable Tip: Always double-check the email for any specific instructions or deadlines to avoid payment issues.
Frequently Asked Questions
- What should I do if I can't provide the requested documents by the deadline?
Answer this email to inform them of your situation and seek guidance.
- Is this email legitimate?
Yes, these emails are legitimate and necessary to comply with our banking partner's regulations.
- What happens if I ignore the compliance request?
Ignoring the request will result in payment failures. Ensure you comply promptly to avoid any issues. Timely compliance with these requests ensures smooth payment processing.