use e-money services up to the amount that triggers the KYC process. I forget what that is, but probably a few hundred dollars.
Just FYI this is not viable because the limit is cumulative. So you can't just fly under the radar with a bunch of small transactions. Once you hit the KYC limit, ID becomes mandatory.
There is nothing illegal about using an e-money service for a few small transactions. When you eventually reach the cumulative amount that triggers the KYC process, you are under no obligation to complete it and refusing to do so is not "structuring".
Of course, they will suspend your account until you're in compliance with their KYC process.
Comments
Just FYI this is not viable because the limit is cumulative. So you can't just fly under the radar with a bunch of small transactions. Once you hit the KYC limit, ID becomes mandatory.
It's also a crime to organize transactions in this way https://en.wikipedia.org/wiki/Structuring
Did you read the article that you linked?
There is nothing illegal about using an e-money service for a few small transactions. When you eventually reach the cumulative amount that triggers the KYC process, you are under no obligation to complete it and refusing to do so is not "structuring".
Of course, they will suspend your account until you're in compliance with their KYC process.
I didn't mean to imply that it's per transaction.