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What is customer due diligence (CDD)? The checks behind every account

By SendPay Business · · 2 min read

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Customer due diligence, or CDD, is the set of checks a regulated firm runs to know who its customer is and what they plan to do with the account. It's a core part of anti-money laundering rules, including the UK's Money Laundering Regulations 2017.

What CDD usually covers

  • Confirming the customer's identity, such as with an ID document and address check.
  • For businesses, confirming the company and who ultimately owns or controls it.
  • Understanding the purpose of the account and the expected kind of activity.
  • Keeping an eye on the account over time to make sure activity still fits.
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Simplified, standard and enhanced

Firms can apply lighter checks where the risk is low and must apply enhanced due diligence where it's higher, such as for politically exposed persons or customers linked to high-risk countries.

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Why it doesn't stop at sign-up

CDD is ongoing. Firms review customers when their details or activity change, and transaction monitoring flags payments that don't match what the customer said they'd do.

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Where SendPay fits

SendPay platforms give your customers GBP, EUR and USD accounts, transfers and branded Visa cards under your own brand, powered by licensed partners who run the required checks.

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How it works

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Why sign up

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It's all about creating your own financial platform with ease. Start with a free account today.

  • A free business accountOpen it in about a minute with your business name, email, password and mobile. No card and no documents to start.
  • Get paid from day oneTake card payments, and share your own payment link and invoices so customers pay in a click.
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SendPay Business is a technology company, not a bank. Accounts, cards and payments are powered by licensed partners.

Questions people ask

What do customer checks cost?

Work out the cost per verified customer.

KYC cost calculator →
What is enhanced due diligence?

Deeper checks for higher-risk customers.

Enhanced due diligence →
What is KYB?

Due diligence on business customers.

What is KYB? →
What is a beneficial owner?

The person who ultimately owns or controls a company.

Beneficial owners →

Read next

Spotted a mistake or something out of date? and we'll fix it. How our guides are made

This guide is general information, not legal or financial advice. SendPay Business is a technology company, not a bank, and does not take deposits; regulated services on the platforms are provided by licensed partners. Other companies named in this guide are reference points only and are not affiliated with SendPay Business.