KYC (Know Your Customer)

KYC (Know Your Customer) is a federally mandated identity verification process that precious metals dealers must perform for certain transaction types under the Bank Secrecy Act (BSA) and anti-money laundering (AML) regulations enforced by FinCEN.

When Does GoldBuller Require KYC?

At GoldBuller LLC, KYC verification is required for:

• Bank wire transfers over $10,000 — Federal reporting requirements trigger at this threshold.
• All Bitcoin OTC desk trades — Regardless of dollar amount, cryptocurrency-to-bullion trades require identity verification.
• Cumulative purchases exceeding $10,000 in a rolling 12-month period

Standard online orders paid by credit card, ACH, or smaller wire amounts typically do not require KYC verification. You can place most orders without completing KYC.

What Documents Are Required?

• Government-issued photo ID: US passport, driver's license, or state ID
• Proof of address: Utility bill, bank statement, or official mail (dated within 90 days)
• Selfie verification: A real-time photo to confirm document authenticity
• Personal information: Social Security Number (last 4 digits), occupation, and source of funds

How Long Does KYC Approval Take?

GoldBuller's compliance team reviews KYC applications within 1–2 business days. You'll receive an email confirmation when your account is approved. Once approved, your KYC status is valid for future transactions — you won't need to re-verify for subsequent orders.

Why Does This Matter?

Dealers are required by law to file Currency Transaction Reports (CTRs) for cash transactions over $10,000 and Suspicious Activity Reports (SARs) for unusual transaction patterns. KYC verification allows dealers to meet these obligations while protecting legitimate investors.