AMEX Vendor KYC
Discussion
One of my retail businesses takes Amex cards for its sales for many years. Recently got asked to provide KYC info again which we did online (3 times). Then we get another email requesting a whole load of more information and documents. We take all other cards and have several bank accounts, and never had requests from them apart from the initial application process.
Anyway I got the hump and emailed my contact at AMEX to tell him he can do one and close the account. Was thinking of closing it anyway because of Chump. He responded saying that we'll never be asked for KYC info again.
Seems strange that "compulsory KYC compliance" is actually discretionary (in this case anyway).
Anyway I got the hump and emailed my contact at AMEX to tell him he can do one and close the account. Was thinking of closing it anyway because of Chump. He responded saying that we'll never be asked for KYC info again.
Seems strange that "compulsory KYC compliance" is actually discretionary (in this case anyway).
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