Enhanced Due Diligence (EDD)

If any of your Customers are Financial Institutions (FIs), they are required to complete an Enhanced Due Diligence (EDD) form in order to send or receive USD payments through Conduit.

Completing this form is not optional—it’s essential for uninterrupted access to USD corridors and faster settlement times.

What is EDD?

Enhanced Due Diligence (EDD) is a compliance process required for certain high-risk entities, such as Financial Institutions. The EDD form collects details about the Customer’s business activities.

EDD helps ensure secure payment flows, protect against financial crime, and meet regulatory obligations.

Why Submitting the EDD Form Matters

If one of your Customers qualifies as an FI, submitting the EDD form brings several benefits:

• Avoid delays – USD transfers for Customers without a completed EDD may be paused or rejected.
  
  
• Reduce RFIs (Requests for Information) – A completed EDD prevents unnecessary back-and-forth and follow-ups from the compliance team.
  
  
• Access faster settlement times – Customers with approved EDD forms are eligible for improved settlement speeds.
  
  
• Maintain access to USD payment capabilities – Without EDD, the Customer may be restricted from transacting in USD altogether.
  
  

How to Know Which Customers Require EDD

In your Conduit dashboard, you’ll be asked to identify which of your Customers are Financial Institutions.

• If all are FIs, you’ll receive a link to the EDD form to share with each of them.
  
  
• If some are FIs, you’ll select the relevant Customers and receive the EDD link to share with those.
  
  
• If none are FIs, no action is needed.

You can check out this blog to understand what FIs are.

What to Expect When Sending USD

When initiating a USD transfer from a Customer:

• If their EDD is incomplete, you may see a message reminding you to complete it to avoid delays.
  
  
• If their EDD is complete, you’ll see confirmation that faster settlement times apply.
  
  

What You Should Do

1. Log into your Conduit dashboard.
   
   
2. Identify which of your Customers are Financial Institutions.
   
   
3. Share the EDD form link with those Customers.
   
   
4. Follow up to ensure they submit it.