I did a bit of shopping around today for some gold coins as I recently got to Melbourne and finally had some cash. I always prefer to buy from WDavis & Son (is Rick Peter's son? haha) not only for prices but for customer service, but they didn't have anything on hand, so off to AC&B. They had stock so I requested to make a purchase. I was informed they have a new company policy requiring government issue photo ID for all buying and selling. As I don't ordinarily carry around government issued ID and resent the intrusion of privacy I declined. So off to a few other places, I ended up buying from John at Gold Diggers. His prices were substantially higher but was willing to negotiate a price I was happy with even though it was more than AC&B. I'm quite happy to pay a 0.0x% premium for customer service and a lack of government ID bullshit. I don't expect to have to carry government ID to buy tomatoes or to buy bullion. This is not bloody Nazi Germany, "papers please!". AC&B have lost a customer permanently while they fail to understand customer service. Hopefully they'll ditch this dud policy.
The noose tightens slowly as to not cause concern or panic. I will not buy from a dealer that requires ID.
Company Policy, not Gov Policy. Who knows, maybe they have been ripped off or bought stolen goods and are just doing it to cover their backs. Did they want a copy of it for their records or did they just want to have a look at it so they could confirm who they were dealing with? I wouldn't mind flashing the driving license, it has to be good for something but I wouldn't want people selling me Gold, then taking a copy of my address, for security more than anything else. Fortunately you can still vote with your wallet.
If you do a search GP covered this when they first opened I had the same issue when I walked in there about a year ago, None of the people who work there have any idea about bullion ,let alone coins. It's there company policy to get ID for any transaction And they don't like dealing with the public ,they mainly deal within the jewellery/pawnbrokers trade's.
It's permissible as a result of AUSTRAC. Essentially every business in the country that deals in bullion is providing a "designated service", and has to be registered with AUSTRAC. Recording ID is mandatory for transactions of $5000 or more, and *optional* for each business to choose to implement as a policy for transactions under this size.
Got a problem with Laws and Regulations? Don't take it out on companies and businesses. Instead vent your frustration and anger towards the Federal Government. Not the fault of a company whom complies with their State and Federal Laws. Can you blame them? You would do the same if you still wanted your business or company to survive. So, AC&B have done nothing wrong. Simply complying with regulations and recommendations. .
They are going above what is required and asking ID for all transactions even if they are only $100. But yeah vote with your wallet and go elsewhere if they're pricks.
They have done nothing wrong true but they have gone above and beyond and thus lost business in the process
True, they have chosen to side with the Gov rather than the walk-in-off-the-street customer, probably a wise decision, a couple of thousand lost here or there over a government watchdog auditing you left right and centre.
My trollish condolences for not reading all properly. Nonetheless, I am not convinced they have done wrong simply by asking for ID. Seems like they are only covering their a$$ just in case. Just an assumption.
Yea but why are they asking for a government ID? why not ask for some primary and secondary I.D If they feel they are loosing a sale couldn't they look at options like separating sales and advising you on this? I would say the sales people did a poor job. I mean since when is government regulation air-tight?
They did nothing "wrong" other than to piss off a customer (I have bought from them before without ID). I can understand that they may wish to view ID if customers are selling to them (as it could be stolen merch), but for buying a coin from them, WTF?! It doesn't make sense... do I need to show ID to buy a computer? I'd spend more on buying a NAS or laptop than on a coin. Even without their policy their customer service is probably the worst of any dealer I've come across in Melbourne. I guess spannermonkey's comment about them dealing with those in the trade explains their social awkwardness.
privacy and identity theft is a major issue in this day and age - why would a customer robotically hand over details and possibly a sample of their signature to someone just because they are standing behind a counter (as if it magically bestows a measure of trustworthiness and level of authority) claiming it is "policy" interesting root of the word "policy" btw ... and measures implemented by stealth to biometrically database everyone so all activity of the many is monitored puts a lot of power in the hands of the few .... if done incrementally over a sufficient period of time is very effective ... humans are conscious of "time" whereas corporate sociopathy is not .... it is a program of implementation. Is that lobster ready yet?
