Income documents when buying AP

[Daisy502]

Hi all - I was asked for income documents before buying an AP watch in Singapore. They've mentioned it's a regulation - probably around prevention of money laundering. But it seems I need to wait for HQ approval. Anyone got a similar experience?

[trackingtime]

LOL, never heard of it.
i think they are trying to sieve out their clients

asking what hobbies i have, where do i stay etc is fine.

anything financial is none of your business. if i can walk in to your boutique means i am ready to buy.

[Gandor]

Wouldn’t be surprised if this is another resale limiting tactic.

[In-N-Out]

If this is real, which I highly doubt, AP is in serious trouble and is becoming a joke. They aren’t selling homes, it’s just a watch

[trackingtime]

ya, it's quite quite funny. it's like you're applying for a home loan.

the furthest you could ask is your income range but then again, it's up to the client to answer.

[ts3]

LOL... Predicting your 3y or 5y or lifetime spend with them based on your income... Way out of line.

[saltyandwet]

Originally Posted by trackingtime

ya, it's quite quite funny. it's like you're applying for a home loan.

the furthest you could ask is your income range but then again, it's up to the client to answer.

No, they can't even ask that. They don't offer financing, so it matters not how much $$$ I have or make.

[brucethemanlee]

i'd never offer anything like that to AP/AD

[Palex]

I don't believe this. Do you have an email or app of this?

[Gandor]

To be honest, I wouldn't even mind. I think it would be helpful for my SA to know if I'm in a line with clients able to purchase a concept or not. It's not like they aren't inferring this data already through my hobbies/cars/events I attend.

Then again, I give my compensation information to anyone who asks, being weird about your pay is such a boomer thing.

[texasmade]

AP- what are some of your other hobbies?
Me- I enjoy going to swingers parties and doing lots of cocaine.
AP- uhhh... what kind of car do you drive?
Me- I drive a van so I can easily smuggle more cocaine home.
AP- can we see your income documents?
Me- it's all money laundered cash.
AP- you're the perfect client. Which Jumbo would you like to buy today?

[gregouille]

Getting worst and worst…

[value.target]

I am so sorry you have to experience this. This is ridiculous. Anyone experience this in the States?

[Vince_76]

Crazy if true (not denying your claim OP, it just sounds ridiculous but nowadays, nothing really surprises me in the watch world).

Visited Singapore before and maybe it’s a cultural thing, but I think if they tried this in the states, it would be a big no-no. Kind of surprising that the Swiss would do this, given their cultural norms and bias to privacy.

[messikens]

Originally Posted by value.target

I am so sorry you have to experience this. This is ridiculous. Anyone experience this in the States?

Not at all - I've just been asked a ton of questions on my interests and hobbies and what I do for a living.

None of this has resulted in any invitations to anything I care about (or for that matter : any invitations at all, lol)...

[neal.jy]

Originally Posted by value.target

I am so sorry you have to experience this. This is ridiculous. Anyone experience this in the States?

I’ve never been asked anything like this - just what my hobbies and interests are, how I got into watches, etc. We briefly touched on my profession but we didn’t even spend that much time talking about that.


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[Henrimontgomery]

If they asked me if that, I’d make a mockup document and show it to them. Play stupid games, win stupid prizes.

I’m now a high ranking manager at Meat Flipping Company, and earn 1200$ a month.

Would love to see the SA’s reaction.

[EdwardC]

Corporate will not request this. If it's regional or store specific then it's their choice. I don't believe this is reasonable: I can be retired sitting on a pile of cash. You want my bank statement? If this is true the sales and the store is just embarrassing themselves.

[m3tek44]

This is a joke, right? Why stop incoming documents/they should be asking for blood samples too.

Sounds ridiculous

[crispyness87]

The Singapore boutique has never asked me this.

[HMHM]

AP KL wanted to know my profession and work details. Was happy to provide details and no further questions were asked.

[Daisy502]

It wasn't an email but a text message from the SA outlining the documents and telling me it'll take around 3 weeks from allocation to purchase given the document review and all. Whilst I understand money laundering checks, I thought this applies to certain businesses with a certain license like banks... thanks all for the info. This has been helpful.

[PBJ1925]

This has got to be a joke.

[squall1]

Which boutique OP?

[Willyjo]

Never heard of this and based in SG. Have been buying from them for years.

Seems odd


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[babybenv]

Sorry, I have never heard of this at all for AP/ADs

[John Doyle]

Makes perfect sense. I would give them your credit cards numbers and codes + your home safe's code and exact location.

[dauster]

Just photoshop your face on a pic like this and send to SA




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[Henrimontgomery]

Originally Posted by Daisy502

It wasn't an email but a text message from the SA outlining the documents and telling me it'll take around 3 weeks from allocation to purchase given the document review and all. Whilst I understand money laundering checks, I thought this applies to certain businesses with a certain license like banks... thanks all for the info. This has been helpful.

Are you sure you’re not being scammed by a third party?

[TNG]

This is crazy, i would decline their request and call it a day.

But i have a story to tell also. With my first initial contact with an European AP House they asked my profession to build an profile. Later they asked me if this was really true, because i did not have an linked in profile....May be that is the reason i'm still waiting for my first allocation after more then a year.