Identification (Except for Export Sales)
We are legally obliged to obtain and retain identification records for every purchaser.
ID Required for Callers
In addition to sight of the following documents, we have to record Date of Birth, & Payment Details.
By law we are required to ask for and examine at least one document from each of the following lists:
The legislation also states that:
List 1||List 2|
Full driving licence||Other utility bill|
National Insurance card||Deeds|
Birth certificate||Tenancy Lease|
National identity card||Council tax bill|
||Hotel key card (for non-UK residents only)|
"If possible, you should keep a copy of the document you see, you must record...sufficient details to enable us (HM Customs & Excise) to obtain a copy if we ask."
We must insist that you, the customer, produces the original document.
We have quoted here from HM Customs and Excise Notice 701/21, not only to advise you of these details prior to you visiting us but also so you know that it is not just us being awkward!
Not a week goes by without a customer visiting the showroom without their ID and not understanding why we will not let them buy investment gold over the counter. Some customers can then get quite rude and act as if it is our fault, it is not, we would love to sell gold without these strict measures but then we would probably not be allowed to continue dealing in investment gold.
ID Required for Mail Order
Completed order form with name, address, date of birth and payment details.
Customs & Excise Notification
We are obliged to report to HM Customs & Excise the first purchase of investment gold by any individual exceeding £5000, or any purchase which takes the individual's purchases within any 12 months period over £10,000.
We are frequently asked, about 20 times per day, why we have to take ID from purchasers. The simple answer is that it is a legal requirement, and we have no choice but to comply if we wish to carry on our business of dealing in investment gold. The only reason given to us is that it is an anti money laundering measure.
What Happens to the Information?
We retain customer identification as required, but do not divulge it to any third party, except to HM Customs & Excise, as necessary. We do not even use it for our own mailing purposes unless requested by customers, and then only rarely.
What Do Customs Do With the Data?
We do not know.
Presumably they check for known or suspected money launderers, and we guess this includes drug smugglers.