Terms & Conditions Part 2 : Legal requirements for large bullion purchases

Legal Requirements For Bullion Purchases

The following details on this page refer to the requirements of the customer (client) to supply Photo ID (Photographic Identification) when purchasing Gold & Silver Bullion from our company (Gold Dealers Exchange Pty. Ltd.).

Federal regulations require our company to collect photographic identification from the customer for purchases of Gold and/or Silver Bullion totaling more than $5,000 AUD for record keeping and reporting purposes.

You must be 18 years of age or older to create an account with us. Once an account for our online store is created, your Photo ID can be uploaded by visiting the "My Account" section. There you will find an option named "Upload / Update Photo ID Images". If you plan on purchasing more than $5,000 AUD worth of bullion from our store, it is required that you upload a scanned copy of your Photo ID to this area of our website.

The types of Photo ID we accept are Drivers Licences (Car, Motorcycle and/or Truck) issued in an Australian State or Territory, Learners Permits (Car and/or Motorcycle) issued in an Australian State or Territory and "KeyPass" personal identification cards (see KeyPass by AUSPost).

Australian Government Issued Passports are accepted as Photo ID ONLY IN COMBINATION with a Utility Bill (Phone / Gas / Electricity / Water / Council Rates / Property Lease / Rental Agreement / Car Insurance / Property Insurance) or Governemnt Issued Pension / Concession Card (Issued by the Department of Human Services / Centerlink) in the name of the passport holder showing their current residential address. Please DO NOT supply Bank Account or Credit Card statements due to the sensitive nature of these documents.

The image(s) must be in JPG, JPEG or PNG format and of high quality / resolution so the name, address, date of birth and photograph are clearly evident. Most digital scanners, digital cameras and mobile phone cameras use one of these formats.

In addition to the supply of Photo ID, the name and address of the person in the Photo ID document(s) must also be listed as the Billing contact when an order is placed. Should this not be completed or the identification is deemed a mismatch to the billing details, we will request that further suitable identification be submitted within a set time frame or we will be required to cancel your order. If payment has already been made before or following cancellation, the payment will be refunded in accordance with our refund policy*.

Purchases of over $5,000 AUD will not be processed unless Photo ID is uploaded to our website at or before the time of purchase / checkout, should our company deem the uploaded image(s) to be unsuitable for identification purposes, we will require that you submit appropriate ID to our company via email within a set time frame or we will be required to cancel your order. If payment has already been made before or following cancellation, the payment will be refunded in accordance with our refund policy*.

The supply of Photo ID is optional for Bullion purchases under $5,000 AUD, we may however request Photo ID for these smaller purchases at our discretion.

The details / requirements described and explained on this page are applied by our company in accordance with the AUSTRAC Regulatory Guide, Chapter 11 - Designated services - Bullion. For further details regarding the federal regulations, please visit the AusTrac.gov.au website.

* Refunds of this nature are described in total as part of our Terms & Conditions. By using the Gold Dealers Exchange website, you agree to be bound by our Terms & Conditions.