Can we propose our own payout provider?

Yes, you can. However, please be cognizant of two things. The solution provider may (or may not) accept your request for a correspondent tie-up. Though in most cases they will, they do have the option of saying no to you. Secondly, any pre-funding that has to be done, would have to be borne by you.

Typically a correspondent tie-up agreement takes about 3-6 weeks to be completed. Depending on the workload (on either side) this could be longer. Such timelines must be taken into account.

The correspondent tie-up is a formalized process and a contract. It is not something that can be rushed. The two videos mentioned below will help you understand how the process works.

The due diligence (DD) documents for a payout partner vary from each solution provider. You can read up more about the due diligence documents here.

Suggested Video(s)

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This page was last updated on February 28, 2023.

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