Hi everyone, I’m facing a major compliance issue with a client’s payment structure and need advice. I need to receive around $4,000 per month from a registered business across 4 separate $1,000 transfers. The client strictly requires an official invoice for their accounting, but since I am an individual (not registered as a business) with existing recurring personal account activity (From regular work), adding multiple frequent business transfers will trigger AML red flags with my bank.
Is using a money exchange service (Change/P2P exchanger) viable here?
I thought about asking the client to transfer the funds to a local or online currency exchanger who would take a fee and pay me out. Alternatively, could asking them to purchase gift cards or prepaid vouchers work, or would that look even more suspicious/unusual for a legitimate business accounting system?
Thanks!
Is using a money exchange service (Change/P2P exchanger) viable here?
I thought about asking the client to transfer the funds to a local or online currency exchanger who would take a fee and pay me out. Alternatively, could asking them to purchase gift cards or prepaid vouchers work, or would that look even more suspicious/unusual for a legitimate business accounting system?
Thanks!