I see that some banks are now charging fees to conduct their KYC Due Diligence. Do they have a list that they check against and tick off that they have received each document or do they conduct a full investigation for instance by contacting the person who notarised documents or municipality to verify existence of an utilities account or other banks to verify accounts.
In other words do they actually put in the effort to earn the fees that they charge?
In other words do they actually put in the effort to earn the fees that they charge?