Gold Stackers - Ph 1300 618 363

ID Requirements

AML/CTF
Under the Anti Money Laundering / Counter Terrorism Financing legislation, it is a requirement for AUSTRAC customer identification procedures to be followed for certain transactions by providers of "designated services". As a bullion dealer, Gold Stackers Australia Pty Ltd is required to abide by this legislation.
What are the thresholds?

For single orders from Gold Stackers under $5,000 AUD, no customer identification is required.

For single orders of $5,000 AUD or more from Gold Stackers, customer identification is required.

Orders can not be shipped until customer identification procedures have been completed.

At times Gold Stackers may elect to request customer identification based on transaction patterns and history. Under no circumstances can we structure transactions, or discuss the structuring of transactions, to avoid customer identification or reporting requirements.

What is the process?

Gold Stackers is required to confirm your full name, and either your date of birth or residential address, in order to comply with minimum AUSTRAC customer identification procedures. This requirement can be met by supplying a certified copy of your drivers licence or passport, sent via postal mail.

All identity documentation should be posted to the following address:

Gold Stackers
PO Box 59
Flinders Lane VIC 8009

Gold Stackers recommends Express Post, Express Post Platinum or Registered Mail for sending your proof of identity documentation.

If you are purchasing in the capacity of a business or on behalf of a SMSF or trust, customer identification procedures are still required to be followed. Additional information such as the business name, business address and ABN are required to be provided.

Ongoing customer due diligence (OCCD) is a process required to be followed by all providers of designated services, including bullion dealers. In order to comply with OCCD, Gold Stackers may determine that additional customer identification procedures be followed under some circumstances, even when published thresholds have not been reached. Should this be necessary, Gold Stackers may contact you requesting additional customer identification.

What happens with my personal information?

Gold Stackers treats customer privacy and confidentiality seriously. Your information is NOT provided to AUSTRAC by default - this is only required when "suspicious" transactions occur, or when a threshold transaction is reached. A threshold transaction is one where payment of $10,000 AUD or more is made in cash. This applies to $10,000 paid either from a customer to Gold Stackers, or from Gold Stackers to a customer who is selling back. Suspicious transactions are required to be reported, e.g. where there is a valid concern that money laundering or terrorist financing activities may be occurring. If you have any questions on our customer identification procedures and policies, please do not hesitate to contact us with queries or clarifications.

How is my personal information handled?

Should customer identification procedures be performed, Gold Stackers will complete a "Customer Identification" form, and note on your customer account that KYC has been performed and is up to date

Once you have completed KYC, you may transact with us for 12 months without needing to complete KYC again unless we determine there is a need to conduct OCCD. It is our policy to perform OCDD annually with updated KYC information.

After the form is filled out by an authorised Gold Stackers representative, the supplied copy of identification will be attached to this form, and the originals of both documents stored securely. No scans, photocopies, duplicates or electronic copies of your identification documentation will be maintained - only the original paper copy as supplied. These are only accessible by management, and will only be accessed in the event of an AUSTRAC transaction report being required. Gold Stackers is required to maintain these copies for a period of seven (7) years after the date of the last transaction, at which time copies will be securely destroyed.

What happens if I decide NOT to provide identification on request?

As part of placing an order with Gold Stackers, acceptance of the terms & conditions of ordering is manually selected by the customer. These terms & conditions include agreeing to submit customer identification documentation on request, and acceptance of our market loss policy. A link to "ID REQUIREMENTS" is also clearly visible on the home page of Gold Stackers, conveying these requirements.

Should you place an order with Gold Stackers that requires customer identification procedures to be followed, and you elect NOT to provide identification, your order will be cancelled, and the Gold Stackers market loss policy enacted in determining an amount to be subtracted from your refund, in order to cover losses incurred by Gold Stackers as a result of your refusal to comply with our clearly stated customer identification requirements.

What are the ID requirements for selling back to Gold Stackers?

We require a valid government issued photo ID such as a drivers license or passport. We will take a copy of this when you come in-store to sell. We update our customer’s ID annually, or if the ID has expired in our system.

Gold Stackers (Aust) Operation Pty Ltd is a Melbourne-based bullion dealer (ABN: 83 616 329 581) shipping throughout Australia. Phone 1300 618 363.

Our goal is simple - providing easy access to investment grade precious metals with genuine service and honest prices.

We are an authorised Perth Mint distributor, and carry gold, silver and platinum products including Kangaroo, Kookaburra, Koala, Lunar and Platypus coins, and both cast and minted bars.