FAQ – Crypto/BC Banking

What you will need to open a bank account?

1. Complete the application form for the selected bank
2. Pay all fees
3. Complete KYC and AML screening

How long does it take?

the entire process usually takes about one week


What is AML?

AML Anti Money Laundering
Money Laundering is the process by which, criminals attempt to make the proceeds of crime appear legitimate with no obvious links to their criminal origins. This is achieved by three processes:

1. Placement – Placing of the proceeds of crime
2. Layering – Hiding of the proceeds from their criminal origin by ‘layers’ of transactions
3. Integration – Creating a legitimate explanation for the proceeds