Sending and Receiving Payments from Individuals
When handling international payments, ensuring compliance with financial regulations is crucial. At Conduit, we are focused on the B2B commercial payments space. This means Conduit cannot be used for personal, family, or household purposes.
Receiving Funds: Why Personal Accounts Are Not Allowed
Conduit does not accept incoming payments from personal accounts. Any funds arriving from an individual’s personal bank account will be blocked, rejected, or reversed. This policy helps:
- Ensure compliance with anti-money laundering (AML) regulations.
- Maintain transaction transparency for businesses.
- Reduce risks associated with fraudulent or unauthorized payments.
Exception: High-Value Transfers
In certain cases, transactions above $100,000 USD from a personal account may be accepted. However, the client must first:
- Complete an Enhanced Due Diligence (EDD) process.
- Provide supporting documentation on the source of funds.
- Obtain pre-approval from Conduit’s compliance team.
Without prior approval, such transactions will be blocked or returned.
Sending Funds: Restrictions on Payments to Personal Accounts
Conduit does not allow outgoing payments to personal accounts, ensuring that funds are used for legitimate business purposes. If a client attempts to send funds to an individual’s personal account, the transaction will be blocked or rejected.
Exceptions: Payroll Payments
Some business cases require sending payments to individuals. Conduit allows exceptions in the following cases:
- Payroll providers – Authorized payroll platforms can process payments to personal accounts.
- Employee salaries & contractor payments – Clients may pay their employees or independent contractors through Conduit. However, this requires a separate due diligence process before approval.
Why These Policies Matter
These policies help ensure that Conduit operates within regulatory frameworks and maintains the highest standards for secure cross-border transactions. By restricting payments to and from personal accounts, we help businesses:
- Prevent fraud and unauthorized transactions.
- Comply with financial regulations.
- Streamline their payment processes while reducing risk exposure.
Need More Information?
If your business requires an exception, such as payroll payments to personal accounts or processing a high-value transfer, contact our support team to determine eligibility and required documentation.
