RFI (Request For Information) is just something we have to live with and accept now, if you want to engage in the ordinary financial︀ systems. It's made worse by regulatory mandated secrecy/non-disclosure, which prevents financial institutions from sharing details.︁ Most of them take this too far and engage in complete silence. Compliance departments have︂ become the biggest departments in banks, and they're still usually overworked which causes long delays.︃
If they sent you an RFI, it's for a reason. They either suspect something or︄ you have reached some limit or threshold in their system. You said you managed to︅ provide most of the documents. Can you get the missing ones as well?
You can︆ hire a lawyer to try to apply pressure on Airwallex to speed up the process.︇ It works sometimes. But if you're not a very important client, they might just decide︈ you're difficult and close the account. So take that risk into consideration and make sure︉ you have at least a couple of backup accounts at all times.
The problem began when governments decided to outsource law enforcement to banks and︊ financial institutions, instead of funding financial crime investigation departments within police/law enforcement. It hits non-bank︋ financial institutions harder because they are perceived as higher risk by regulators and by their︌ correspondent banks.
I could swear he has had his piggybank locked due to compliance.︎ 😉
