Royal mint silly

[darrol]

Been trying to open  up an account with royal mint bullion  got this silly email back after sending them my passport and  my bank statement copy, they didn't say I would need it Certify    -  I am not going to a solicitor and I have opened up other bullion account and banks with my id  without any problems - I can only say this is crazy .

"Thank you for your documents.

 Our compliance team could not find any matches on your given address.

 Could you please provide us the certified copy of your latest utility bill or bank statement to support your application?

 Certify a document as a true copy of the original by getting it stamped, signed and dated by a professional person, like a solicitor.

 In the event that we do not receive your certified documents within 30 days, then in the absence of any confirmation from you to the contrary, we will assume you no longer wish to open a [Royal Mint bullion account] and we will delete all personal data that you have provided to us as part of this process in line with our requirements under the Data Protection Act. This will mean that should you wish to apply to become a customer at a future date we will need to obtain fresh identification documents from you.

 Sorry for any inconvenience this may have caused.

my email back

 

[mondy41]

Had this issue last year also - left it for a finish.

[Scuzzle]

This must be new, pretty sure when I opened my account all I had to do was link a valid funding account to it, I was actually considering it as another safe place to sit money in if it ever came to it but further investigation reaealed it's just Royal Mints Bacrlays banks account and Barclays are always on the front line of the fraud and deception anyway so not really a safe place to have money sitting.

[breaktwister]

I don't know if this is Barclays or just Royal Mint themselves implementing these rules.  Quite scary that you cannot swap your fiat junk for real money without it all being traced back to you.  Nice for our good friends in government to know if they ever decide to raid private stacks.

 

[darrol]

I just don't understand surly if I can open up a bank account with my id then an account with the royal mint should be the same .

[mondy41]

My understanding of it was they could not verify my address which is fair enough since I live in Ireland.  However I had bought numerous time from the Royal Mint up to trying to open an bullion account.

But Royal Mint Bullion would not take that into consideration - ah well - no screw cap coins for me.

[Paul]

You can get your docs verified at the post office for a just over a tenner.  A doctor or solicitor will charge you more

https://www.postoffice.co.uk/document-certification-service

What they are doing is probably because they cannot verify you living at that address remotely, you you on the local electoral role ?

This check is done via the credit reference agencies Experian/Equifax. 

I had a 'soft' search appear on my noddle/Clearscore and MSE credit club report when i open my Royal Mint Bullion account.   

The account opened without any hitch or any documents needing to be sent

 

[kimchi]

Thanks @Paul I need a certified copy of my passport or Driving Licence so it's great to know a local 'main' PO (not the cornershop who can now only do simple post and the like) will do that a bit cheaper than Solicitors etc :) I think the local GPs have been deliberately pricing themselves out the picture because they have enough to deal with (they don't even seem to have time to see patients!).

The whole thing's a complete scam imvho, but don't get me started!

[darrol]

12 minutes ago, Paul said:

You can get your docs verified at the post office for a just over a tenner.  A doctor or solicitor will charge you more

https://www.postoffice.co.uk/document-certification-service

What they are doing is probably because they cannot verify you living at that address remotely, you you on the local electoral role ?

This check is done via the credit reference agencies Experian/Equifax. 

I had a 'soft' search appear on my noddle/Clearscore and MSE credit club report when i open my Royal Mint Bullion account.   

The account opened without any hitch or any documents needing to be sent

 

I didn't think of the post office I will email them and ask them if they will except it verify from them ,  I have moved in with my dad only over a month ago I am not on the E role .

I take it what Royal mint are saying is they cant prove my documents are real as there copy's so I need them checked  or verified with the originals ?

[Paul]

The Royal Mint need to comply under anti money laundering rules and regs in addition to Know Your Custom (KYC)  

If they cant find you on the Electoral Role, then they cant verify its is you.  

I would advise you get on the ER as soon as possible as this is one of the key things you need for credit cards, loans, bank accounts, mortgage.

The more you stay in one place the more stable you appear to lenders.

Countersignatories, that are accepted for passport application  

Work in (or be retired from) a recognised profession
be ‘a person of good standing in their community’

Examples of recognised professions include:

• accountant
• airline pilot
• articled clerk of a limited company
• assurance agent of recognised company
• bank/building society official
• barrister
• chairman/director of limited company
• chiropodist
• commissioner for oaths
• councillor, eg local or county
• civil servant (permanent)
• dentist
• director/manager/personnel officer of a VAT-registered company
• engineer - with professional qualifications
• financial services intermediary, eg a stockbroker or insurance broker
• fire service official
• funeral director
• insurance agent (full time) of a recognised company
• journalist
• Justice of the Peace
• legal secretary - fellow or associate member of the Institute of Legal Secretaries and PAs
• licensee of public house
• local government officer
• manager/personnel officer of a limited company
• member, associate or fellow of a professional body
• Member of Parliament
• Merchant Navy officer
• minister of a recognised religion - including Christian Science
• nurse - RGN or RMN
• officer of the armed services
• optician
• paralegal - certified paralegal, qualified paralegal or associate member of the Institute of Paralegals
• person with honours, eg an OBE or MBE
• pharmacist
• photographer - professional
• police officer
• Post Office official
• president/secretary of a recognised organisation
• Salvation Army officer
• social worker
• solicitor
• surveyor
• teacher, lecturer
• trade union officer
• travel agent - qualified
• valuer or auctioneer - fellows and associate members of the incorporated society
• Warrant Officers and Chief Petty Officers

[kimchi]

2 minutes ago, Paul said:

The Royal Mint need to comply under anti money laundering rules and regs in addition to Know Your Custom (KYC)  

If they cant find you on the Electoral Role, then they cant verify its is you.  

I would advise you get on the ER as soon as possible as this is one of the key things you need for credit cards, loans, bank accounts, mortgage.

...

So basically sign your soul away for the 'right' to be fleeced.

Like I said please don't get me started LOL

[Paul]

Well if they can verify you by being on the voters role, you wont have this hoop to jump through or the incur the costs of verification 

If you plan to stack PMs in big amounts you will incur docs and verification sooner or later 

Buy over £5000 from any honourable UK bullion dealer in one deal OR over £10k in one calendar year and they will ask for proofs of identify 

https://www.gov.uk/government/publications/vat-notice-70121-gold/vat-notice-70121-gold

 

[darrol]

12 minutes ago, Paul said:

Well if they can verify you by being on the voters role, you wont have this hoop to jump through or the incur the costs of verification 

If you plan to stack PMs in big amounts you will incur docs and verification sooner or later 

Buy over £5000 from any honourable UK bullion dealer in one deal OR over £10k in one calendar year and they will ask for proofs of identify 

https://www.gov.uk/government/publications/vat-notice-70121-gold/vat-notice-70121-gold

 

I have done  deals with a lot of the main dealers  for physical gold,  they did ask for my  id and it all passed,  so it just got me thinking are royal mint just more strict or is it different when getting physical gold ?  I was thinking about trying bullion vault and see if they ask for a verification .

[Paul]

Bullion Vault will be exactly the same for verifying you. If they cannot verify you like Royal Mint they will request proofs

It is not them being purposely difficult the company must be compliant to regulations of trading in investment gold as i posted in the .gov.uk link

I have answered how you can get around this by getting yourself on the electoral role or paying a tenner at the PO to verify your docs 

[Murph]

Why a Salvation army officer, a chiropodist, a journalist, a photographer or the likes is accepted along with professionals like MPs, JPs, Drs, lawyers, chartered accountants, chartered engineers etc, I don't know.  A lot of them aren't going to have stamps either, especially if retired.