KYC and AML Don’t Bite – What You Need to Know

If the phrase “verify your identity” makes your palms sweat, you’re not alone. Whether it’s sharing passport details or being asked to confirm your address, KYC (Know Your Customer) and AML (Anti-Money Laundering) processes can feel invasive. Especially so for us, "crypto-heads" – believing in self-sovereignty, self-custody, privacy and decentralised freedom.
But there’s a reason they’re here – and they’re not as sinister as they seem.

Why Do I Need to Do KYC?

KYC is required for financial services providers to:

• Prevent illegal activities like money laundering and terrorism financing. Having to share your identity scares off the most obvious bad actors.
• Comply with global financial regulations. Certain transactions may undergo scrutiny if and when flags are raised.
• Ensure your funds and transactions are traceable and secure. This may be more helpful than harmful, especially in the "immutable blockchain transactions" environment.

Who Handles Your Information?

At Solar, we work with Vault and Sumsub, our regulated third-party providers. They’re trusted with verifying and protecting your personal data. This means:

• Your information is transmitted and stored securely and not shared without a legal basis.
• It’s encrypted, isolated, and only accessed when absolutely necessary.

What Does It Mean for You?

• Higher Limits – Verified users get access to higher transaction thresholds.
• More Security – In the rare case of fraud, your account is easier to protect.
• Legal Peace of Mind – Using a card backed by regulated services keeps you compliant.

Common Concerns – And the Realities

“Does KYC mean every transaction is reported to the government?” No. Your data isn’t actively monitored or handed over unless there’s a legal reason—such as a formal request from regulatory authorities. This is rare and specific, not routine.

“Is my account watched in case I do something wrong?” Not exactly. KYC data is kept so platforms can act responsibly if something genuinely suspicious happens. For most people, it’s just there in the background.

“I transferred a large amount once and got flagged – is this common?” Limits exist for a reason. Large, unexpected transactions (especially from anonymous wallets) can trigger reviews—not because you did anything wrong, but because that’s how regulated systems work. Staying within reasonable limits helps avoid friction. Keeping records of your transactions and sources will help you stay compliant.

What You Can Do

• Always verify directly through official platforms, like Sumsub. Do NOT share your details or ID through unknown interfaces.
• Avoid third-party sites or fake support agents.
• Keep your ID up-to-date to avoid delays.
• Use common sense with transfers – if it’s big or out of character, it might need extra context.
• Smaller transfers help you keep your funds more diversified and secure, both on the card and chain.

We don’t live in a post-KYC world — yet. But if you’re smart, transparent, and use your digital assets with intention, KYC becomes less of a gate and more of a checkpoint.
It’s not watching your every move. It’s there to protect the system if something goes off the rails.

And in return, you get access to a tool that works in shops, restaurants, airports, and everyday life — without needing to jump through crypto-native hoops.

That’s the trade-off. And it’s not a bad one.

💬 Still not convinced? We’ve been there too. But verifying your identity is no longer about giving up privacy – it’s about playing smart in a world where trust matters more than ever.

🔐 KYC doesn’t bite. But it does protect – and done right, it rarely gets in your way.

Get your Solar Card App now, complete your KYC, get your card, and enjoy spending your crypto in real life!