I went to ABC bullion with my wife whom happens to have a overseas credit card and wanted to make a small purchase of $3700. ABC policy is that we only accept payment from Australia issues cards. I understand if they said we need take a copy of your passport and the name needs to match the card but instead ABC policy is: no! under no circumstances do accept cards other than those issued by Australian banks. The next issue, which is not ABC's fault in anyway but however it just shows what an unfriendly jurisdiction Australia is: The minimum purchase in Australia without an account is $5,000 ( $3144USD at time of writing ) this is a JOKE compared to many other countries and reflect what a nanny state Australia really is. Below are the maximum purchase without an account in high quality jurisdictions. Singapore: $20,000SGD ( $23,869 AUD ) UAE: 20,000AED ( $8,600 AUD ) Switzerland 15,000CHF ( $27,055 AUD ) NZ 10,000NZD ( $9,000 AUD )A well intended government policy just drives commerce overseas.
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