AML and Kindo - what this means for Schools

AML and Kindo - what this means for Schools

The Growth Collective (known as Kindo, myKindo and ezlunch) has been classed as a Financial Services Provider (FSP). This means there are additional responsibilities we must undertake, including compliance with the strict regulations imposed under the Anti-Money Laundering and Countering Financing of Terrorism Act 2009 (AML).


There have been some changes to our Terms and Conditions for your families and the way we have to manage things like withdrawals and who can have accounts.  We have been given some special AML exemptions and there are some very useful things that we can offer our customers by being a Financial Services Provider.

The key changes for your families are listed below, and can also be found on our Customer portal support pages.
  1. They cannot withdraw credit balances from their myKindo account, unless a refund from a school or registered charity has occurred.
  2. Withdrawals against a refund from a lunch supplier, or any other supplier who is not a registered charity are no longer possible.
  3. If they have a credit balance and are needing to close their account, they will have the option to donate the credit balance.
The key points for schools are listed below.
  1. As a FSP we can aggregate the hundreds of individual payments into a daily or weekly deposit for schools, saving administrators hours normally spent coding each payment into their student and financial software.
  2. Refunds have been a huge feature during covid and as a FSP we can provide simple refunding individually or in bulk, back to myKindo accounts.  Families can then withdraw the refunded amount easily.  Our new Xero integration supports this even further and means you have the ability to create the draft invoice, and approve in Xero, easily.

Email if you would like more information about AML or our new Xero Integration.

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