Safeguarding Due Diligence Checklist (for Banking Partners)

Use this Due Diligence Checklist to coordinate the performance of initial and ongoing due diligence procedures applied to proposed partner banks that may be used to provide access to safeguarding bank accounts. The FCA require EMI and PI firms to "exercise all due skill, care and diligence" when selecting and reviewing banking partners. This checklist will help you implement the required checks and details 32 checks in areas including: Regulatory compliance, Reputation, Operations, Financial stability, Creditworthiness and Commercial.