We take this opportunity to welcome you as our new client at Bullion Met.
We want you to use our services in the best possible way so we have set up a clear and transparent New Client Procedure enabling a quick start up of our cooperation.
Soon as Bullion Met has carried its due diligence you will receive your corporate registration number and you can start trading*
Please call a member of our team on +44 (0) 121 554 2080 for any further information required.
*Terms & Conditions Apply
This policy applies to all new and existing client relationships and to all products and services offered by Bullion Met. Bullion Met is an ongoing risk‐based process to gather relevant information about our clients, their business and financial activities in order to facilitate the timely identification of client activity that is inconsistent with established facts and information. Bullion Met is committed to deterring the use of its products and services for illegal purposes. Bullion Met policy and supporting procedures are a key component in the program to prevent and detect:
- Money laundering, terrorist financing, fraud and identity theft.
- Meet our legal and regulatory obligations.
- Gather sufficient information to assist in determining appropriate products and services to meet our clients’ financial needs.
We will only ask for information that we need for the purpose.
Confirming Client Identity
When establishing a relationship with a client we will confirm the identity of a person or the existence of an entity within acceptable timeframes using acceptable identification methods. When a product or service is being established, inquiries will be made to determine whether it will be used by or for the benefit of a third party. Where required, particulars of the third party and their relationship with the client will be obtained prior to establishing the relationship.
Collecting and Recording Customer Information
We will collect and record all pertinent information regarding current and prospective clients including beneficial owners, intermediaries and other interested parties and will establish the purpose and intended nature of each relationship. Where applicable, we will record the type, volume and frequency of expected account activity and we will make enquiries into the source of incoming funds or assets. The extent of such measures will be determined on a risk‐sensitive basis depending on the type of client, business relationship, product and transactions.
Verifying Customer Information
We will take reasonable and appropriate measures to verify the key information provided by prospective clients to reliable independent sources. We will perform additional verification activities for relationships that represent a higher level of risk. We will refuse to enter into or continue relationships or conduct transactions with any person or entity that insists on anonymity or provides false, inconsistent or conflicting information where the inconsistency or conflict cannot be resolved after reasonable inquiry.
Monitoring and Updating Customer Information
We will monitor customer activity to identify and report transactions that may be indicative of illegal or improper activity. We will keep information regarding the client and their business and financial activities as accurate, complete and up‐to‐date as necessary to full fill the purpose for which it was collected. When changes in a client’s financial behaviour become apparent, we will take steps to determine the underlying reasons.
Personal Account Limitation
Individual clients intending to place orders in excess of £10,000 per calendar year will require identification in the form of a scanned / faxed copy of their passport or driving license and a copy of their bank account statement. The name on the statement must match their identification.
Verification will consist of photographic ID (a current and signed passport; A photo driving license; or a national identity card) and a certified document (a utility bill from the past 3 months; bank, building society or credit union statement (not an online print out); or most recent mortgage from recognised mortgage lender). Where photographic ID has not been verified, two certified documents will be required.