{"id":25863,"date":"2025-10-01T12:55:18","date_gmt":"2025-10-01T11:55:18","guid":{"rendered":"https:\/\/monta.com\/en\/?page_id=25863"},"modified":"2025-10-01T13:04:21","modified_gmt":"2025-10-01T12:04:21","slug":"customer-due-diligence-faq","status":"publish","type":"page","link":"https:\/\/monta.com\/en\/legal-risk-compliance\/customer-due-diligence-faq\/","title":{"rendered":"Customer Due Diligence FAQ"},"content":{"rendered":"
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\n Customer Due Diligence FAQ <\/h1>\n <\/div>\n<\/section>\n\n
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General <\/h2> <\/div>\n
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\n \n \n Why is Monta requesting personal or business information?<\/span>\n
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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.<\/p>\n\n <\/div>\n <\/div>\n \n \n Is Monta a regulated financial institution?<\/span>\n

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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.<\/p>\n\n <\/div>\n <\/div>\n \n \n What happens if I don\u2019t provide the requested information?<\/span>\n

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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\u2019s services. Verification must be finalized and approved before you can perform any money-movement activities on our platform.<\/p>\n\n <\/div>\n <\/div>\n \n \n Is verification a one-time requirement?<\/span>\n

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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.<\/p>\n\n <\/div>\n <\/div>\n <\/div>\n<\/div>\n<\/section>\n\n

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For Individual Users (Natural Persons) <\/h2> <\/div>\n
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\n \n \n What kind of verification is required from individual users?<\/span>\n
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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.<\/p>\n\n <\/div>\n <\/div>\n \n \n How is my data handled?<\/span>\n

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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.<\/p>\n\n <\/div>\n <\/div>\n \n \n How long do I have to submit the requested information?<\/span>\n

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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.<\/p>\n\n <\/div>\n <\/div>\n \n \n Do I need to notify Monta if my details change?<\/span>\n

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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.<\/p>\n\n <\/div>\n <\/div>\n \n \n Can I be denied access based on my country of residence or behavior?<\/span>\n

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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.<\/p>\n\n <\/div>\n <\/div>\n <\/div>\n<\/div>\n<\/section>\n\n

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For Business Customers (Legal Entities) <\/h2> <\/div>\n
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\n \n \n What business verification is required?<\/span>\n
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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.<\/p>\n\n <\/div>\n <\/div>\n \n \n What documents will Monta ask for?<\/span>\n

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Commonly required items include:<\/p>\n