Anti Money Laundering Regulations

Our anti-money laundering procedure

At Coin and Note Sales Ltd (T/A Cash4Coins), we are dedicated to making your transactions safe, secure, and fully compliant with UK anti-money laundering laws. To achieve this, we may need to carry out identity checks — particularly for high-value or regulated currency exchanges.

When We Need to Verify Your Identity

We are legally required to carry out enhanced checks for:

• Any transaction of £1,000 or more (or the equivalent in another currency).
• Multiple transactions totalling £1,000 or more within a 12-month period.
• The exchange of high-value banknotes, including: €500 Euro, 1,000 Deutsche Marks, 1,000 Swiss Francs, 1,000 Singapore Dollars, and 1,000 Brunei Dollars.

If your transaction falls into any of these categories, we’ll request additional information to verify your identity and the source of funds.

For individuals

To proceed with your exchange, you’ll need to verify your identity using one of the following two options:

Option 1: Digital ID Check

We’ll carry out a secure digital identity verification using a biometric service, which includes:

• Uploading a valid form of photo ID (e.g. passport or UK driving licence)
• Facial recognition and liveness check to confirm your ID is genuine
• An explanation of where the funds came from
• Confirmation that the bank account provided is UK-based and in your name

This is usually the fastest and easiest option.

Option 2: Manual Document Upload

If you prefer not to use the digital route or if your ID cannot be verified online, we will request that you manually upload the necessary documents. This includes:

• A valid UK passport or UK driving licence.
• A recent (less than 3 months old) utility bill, bank statement, or council tax letter showing your full name and UK address.
• A short explanation of the source of funds.
• A UK-based bank account in your name

Please note that in some cases, we may request certified copies of your identification documents. This means they must be signed and stamped by a solicitor to confirm authenticity.

For businesses, charities and organisations

If you are exchanging currency on behalf of a business or organisation, we’ll need to verify your details through a few additional steps:

• We’ll confirm your registration with Companies House or the Charity Commission.
• We’ll verify the identity of the business owner or directors using an online verification service.
• We’ll verify your official address and ensure it matches any designated collection or delivery location.
• Your contact details, website, and email address must match the information listed in your business registration.
• We’ll request an explanation of where the funds came from.
• The payment must be made to or from a UK-based business account that matches your organisation’s name.

Why We Do This

These checks help us prevent fraud, protect our customers, and comply with the UK’s Money Laundering Regulations. Although they may take a little extra time, they ensure that every transaction is secure and transparent.