Help / Security and Payments
Do I need a payment reference on my transfer?
Please use the invoice number and the name of the artwork as your payment reference when wiring money to pay an invoice.
More Security and Payments articles
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In accordance with anti-money laundering regulations introduced on 10th January 2020, all art dealers, galleries, and their clients must comply with EU-wide legislation, which the UK will follow irrespective of Brexit.
As part of our legal obligations, Hang-Up Pictures Ltd must take all reasonable steps to prevent money laundering, including ensuring that payments received are not derived from illicit sources. To comply with these regulations, we are required to conduct identity and screening checks on all clients before completing a sale.
These checks apply to all clients purchasing artworks valued at €10,000 or more or conducting transactions exceeding €10,000 in total. This requirement applies to all customers, whether new or longstanding collectors.
What We Need From You
- For individuals: A copy of a valid photo identity document (passport, driving license, or national ID card) confirming your full name, date of birth, nationality, and permanent residential address.
- For companies: Company details, including proof of incorporation, details of directors, and ultimate beneficial owners.
- For purchases via agents/advisors: We must verify the ultimate buyer in addition to the agent.
All payments must be made from a bank account held in the name of the person or entity on the invoice. If a third party wishes to make a payment on your behalf, prior authorization is required. If the information provided does not meet legal requirements, we reserve the right to refuse third-party payments.
We understand that these checks may be an inconvenience, and we appreciate your patience while we complete them. We are legally required to retain the information you provide for five years, and all data will be handled securely and in accordance with our Privacy Policy.
If you have any questions or concerns, please contact us at info@hanguppictures.com. We are committed to making this process as smooth and efficient as possible for you.
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Unless otherwise agreed for any order over £10,000 we ask for payment to be made via BACS transfer or International wire. Identification may be requested for any card payment. Please do not be offended if this is requested as we are obliged to do so by our credit card processing company.
If you would like to use a credit card for amounts over £10,000, we would ask for an additional payment of 3.25%.
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As a term of sale, we are obliged by our credit card processing company to (on occasion) request identification including proof of address for any card payment taken. We do this simply to remain compliant so please do not be offended if this has been requested of you.
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In accordance with HMRC regulations, the gallery cannot and will not accept cash payments of €10,000 or more for items purchased at the gallery. This includes several cash payments for a single transaction totalling €10,000 or more, as well as a series of payments and payments on account.
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American Express cards can be used to pay for artwork at the gallery. There is no charge for doing so on any amount under £10,000.
To cover the processing fees that American Express charge the gallery a 3% surcharge will be added to the invoice total for all AMEX transactions exceeding £10,000. -
PayPal can be used to pay for artwork at the gallery. There is no charge for doing so on any amount under £10,000.
For all PayPal transactions exceeding £10,000, a 3% surcharge will be added to the invoice total to cover the processing fees that PayPal charge the gallery. -
The purchaser is responsible for all bank fees/charges when wiring money from overseas. The artwork will not be shipped unless the invoiced amount has been received in full.