When Do I Need to Complete AML and What Happens If I Don’t?

The AML form must be completed before your first Bitcoin purchase. You can complete it at any time in the app under settings (Settings → AML), or the app will prompt you to do so when you first reach the savings milestone.

Savings cannot be processed until the AML questionnaire has been completed. We therefore recommend filling it out as soon as possible. If you do not complete the AML form, your card payments will still be tracked for a limited period of time. The savings amounts calculated from those payments will continue to build up toward your next savings milestone. These amounts will remain pending until the AML is completed and the savings can be processed.

Until then, you can continue using the app, adjust your savings settings, and monitor the amounts being set aside. However, the actual Bitcoin purchase will only take place once the AML form has been completed.

If AML remains incomplete for an extended period of time, savings will eventually be fully paused. At that point, the app will also stop calculating percentages from your card payments. 

Reactivation occurs once you complete the AML questionnaire and notify us. We will then review the information and manually restart your savings. 

Once reactivated, the accumulated pending amount will be divided into separate amounts corresponding to each exceeded savings milestone (CZK 350 per milestone, including the first transaction that caused the milestone to be exceeded). Bitcoin will then be purchased gradually for each of these amounts. The app can process a maximum of three card payments per day. Depending on the number of exceeded milestones, this process may take several days.

Until the savings are processed, your funds remains in your account. Your card is charged only at the moment the Bitcoin purchase is executed.

The AML form only needs to be completed once and takes just a few minutes. The sooner you complete it, the smoother your savings process will be.