Customer Due Diligence FAQ

Monta must verify the identity of all customers to comply with its financial crime prevention framework. This process helps prevent fraud, money laundering, and terrorist financing, and ensures that our platform operates securely and in line with international standards.

Monta is not a licensed financial institution. However, as a payment services provider operating in the EU, Monta is subject to EU AML requirements and applicable e-money/payment services regulations; Monta performs KYC (Know Your Customer) in its own right and in line with partner obligations. We also voluntarily align with international best practices, including the Financial Action Task Force (FATF) recommendations.

Verification is mandatory. If you decline or fail to provide the required information, Monta cannot initiate or maintain your account. You will lose access to Monta’s services. Verification must be finalized and approved before you can perform any money-movement activities on our platform.

No. KYC is an ongoing obligation. Monta may request updated or additional information at any point during the customer relationship, particularly if your details change or new risk factors are identified.

You must verify your identity with a valid government-issued identification document (electronic ID where available, or physical ID). Depending on your risk profile, additional information such as proof of address or source of funds may be required.

All personal data is processed under GDPR and applicable law. Data is encrypted, stored securely, and accessible only to compliance-authorized personnel. Data is not used for marketing. It is used for risk assessment and compliance screening, including sanctions and adverse-media checks.

Once a KYC request is triggered, your account is suspended until verification is complete. You have 30 days to provide all required information. If not completed within 30 days, Monta may close the account and retain data as required by law.

Yes. If your personal details change, you must update them within the Monta Charge App, whether it is change of residential address, identification documents, or contact information.

Yes. Access may be restricted if you reside in a high-risk jurisdiction or if your activity triggers risk-based controls. These measures are rare but necessary to maintain compliance and platform integrity.

Monta must confirm the legitimacy of the business, identify and verify all Ultimate Beneficial Owners (UBOs), and conduct verification of all key representatives and controlling individuals. You must promptly notify Monta of changes to ownership (including percentage changes), directors, authorized representatives, registered address, or control.

Commonly required items include:

• Organizational chart identifying ownership and control
• Valid company statutes or articles of incorporation
• Proof of incorporation and registered address
• Identification documents for UBOs and directors
• Details of controlling individuals or board members

Any individual who directly or indirectly owns or controls at least 25% of the shares or voting rights, or otherwise exercises control through other means.

Yes. UBO identification is a core requirement under AML standards and cannot be waived.

All business documents are uploaded via secure channels and stored in encrypted environments. Only compliance-authorized personnel have access.

Only verified representatives with documented authority may submit information on behalf of a business entity.

Monta may request additional documentation (e.g., shareholder registers, subsidiary incorporation documents) to fully understand and verify the ownership and control chain.

Monta operates under EU AML Directives, as well as obligations imposed by our licensed financial partners. These require us to verify customers, identify UBOs, and monitor for suspicious activity.

Circumstances include:

• Failure to provide or update KYC information
• Suspicion of fraud, money laundering, or terrorist financing
• Match against international sanctions lists
• Refusal to cooperate with compliance requests

No. Declining to provide required verification prevents Monta from offering or continuing services.

Yes. Monta’s compliance team will notify you directly if additional information or clarification is required.

Yes. Monta conducts periodic KYC refreshes and may request documents again, especially for higher-risk customers or when significant changes occur.

KYC data is retained for a minimum of five years after the end of the business relationship, unless longer retention is required by law. Data is then securely deleted.

Monta maintains technical and organizational measures to protect data. In case of a breach, we will notify affected customers without undue delay, in line with GDPR obligations.

You may request access, rectification, or deletion where legally permissible. Certain rights may be limited due to AML record-keeping obligations.

Yes. Monta screens all customers against international sanctions lists (EU, UN, OFAC, UK) and applies additional geographic risk controls. Accounts linked to sanctioned or otherwise restricted/high-risk jurisdictions, entities, or individuals will be blocked or terminated.

No. Monta services may not be used for or on behalf of any country, entity, or person subject to international sanctions.

You may contact Monta support at: kyc@monta.com
Complaints are handled by compliance specialists. If unresolved, you may escalate to relevant EU authorities or dispute resolution bodies, in line with applicable law.

Please reach out to Monta’s support at: kyc@monta.com
Our compliance specialists are available to assist you.

Refer to the Monta Privacy Statement for full details on data collection, processing, storage, and your rights under GDPR.