ID Requirements For Buying Gold

In this comprehensive guide, we aim to shed light on the various limitations and requirements associated with the purchase of gold. It is important for our valued customers to have a clear understanding of these restrictions, and that is why we have taken the time to explain their existence.

Transaction Limits

The transaction limits are as follows:

Online

• Customers can buy up to £10,000 per order online paying with a debit or a credit card.
• Customers can buy up to £20,000 per order online paying by Bank Transfer.

Please be aware we have a transactional threshold of £10,000 on all customer accounts – this can be unrestricted by providing two forms of ID. Customers who provide two forms of ID, will be able to purchase unlimited orders up to a maximum of £20,000 per order online.

In Store (Face-to-face)

• Customers can buy up to £7,500 in cash per rolling year – the limit is from the date of your first cash purchase onwards (GBP only)
• Customers can buy an unlimited amount by chip & pin with debit card (UK authorised/ GBP only) *We do not accept credit cards in store*
• Customers can buy an unlimited amount by bank transfer (UK Institutional bank/ GBP only)

Please be aware ID will be required – see section What do ATS Require?

Why have transactional limits?

We have a legal obligation to comply with Government and EU regulations on Anti Money Laundering, Fraud and Terrorism. As a business our responsibility is to carry out the necessary checks and put systems in place to safeguard against money laundering and to combat financial crime. The Money Laundering Regulations 2007 require appropriate ID to be taken when certain transactions take place. The regulations state that due diligence must be complete where we are: “carrying out an occasional transaction with a customer valued at €10,000 or more”.

To view more information on Anti-Money Laundering – visit the Anti-money laundering supervision: guidance for high value dealers

When do ATS Require ID?

Here are the purchasing limited where we require ID – these apply to personal investors only (if buying through a company – see below*):

Online

• Customers buying over and including £5,000 in one order – we will take two forms of ID
• Customers buying up to £10,000 in multiple orders – we will take two forms of ID
• Customers wanting to buy over £10,000 – we will ask for two forms of ID to un-restrict your account

Please be aware: Each transaction is verified through a fraud screening process provided by our secure gateway and when required we may ask for identification from you to verify yourself as the customer. This is an action recommended by the payment gateway during the fraud screening. The ID we require is used to verify you at the address. We consider multiple transactions to consist of multiple orders placed in a 48 hour period. For multiple transactions placed by customers from one singular address, we may contact you for identification.

In Store (Face-to-face)

• Customers buying up to £5,000 – we will require one form of photographic ID
• Customers buying over £5,000 – we will require two forms of ID.

These limits apply universally to buying or selling with debit cards, transfer or cash.

What Identification is acceptable?

We accept the following forms of Photographic ID:

• Passport
• Full UK Driving Licence

We accept the following forms of ID as a Proof of Address:

• Bank Statement (within the last 6 months)
• Utility Bill (within the last 6 month)
• Council Tax Statement
• Full UK Driving Licence (but only if not used as photo ID)

Please be aware: We don’t accept credit card statements or mobile phone bills.

To continue purchasing online with ATS Bullion by lifting the £10,000 maximum on your account, please scan the copies of your identification to [email protected] or alternatively you can send us the copies to ATS Limited, 2 Savoy Court, Strand, London, WC2R 0EZ. Please call us if you have any queries regarding the limits – one of our trained Bullion Dealers will be happy to help.

What happens to the ID I provide?

Identification we have requested from you are taken to verify your identity, in line with anti-money laundering guidelines. This information is not sold or used for remarketing. Information you provide is recorded by one our trained bullion dealers, in the performance of their duties only. For more information on how we keep and use your data, please visit our Privacy Policy.

Below are some links with helpful information regarding Money Laundering Regulations:

www.gov.uk/topic/business-tax/money-laundering-regulations

www.legislation.gov.uk/uksi/2007/2157/regulation/14/made

https://www.gov.uk/government/publications/proof-…

*For Businesses looking to purchase from us, we will be required to complete enhanced due diligence checks. Please contacts [email protected] or call 020 72 40 40 40 to speak to a member of staff to advise you on how to place an order.