Are there restrictions on cash payments for scrap metal sales in NSW?
Short answer: NSW scrap metal regulation has specifically targeted cash transactions in the past due to their association with untraceable stolen metal resale, and dealers operating under regulated secondhand dealer requirements may have specific obligations around cash transaction thresholds and record-keeping — check current NSW Fair Trading or Police guidance for the specific current rules, since thresholds and requirements can be updated over time.
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List Free →Why cash specifically drew regulatory attention
Cash transactions are harder to trace than bank transfers, which is part of why scrap metal industry regulation in NSW has historically paid particular attention to cash payments as a vector for laundering proceeds of metal theft.
What this might mean practically
Depending on current requirements, a compliant dealer may have specific record-keeping obligations tied to cash payments, particularly above certain thresholds — don’t be surprised if a buyer asks more questions or requires more documentation for a cash transaction than an electronic one.
Staying current
Because specific thresholds and requirements can be updated, checking current NSW Fair Trading or NSW Police guidance directly is more reliable than relying on general knowledge that might be out of date.
How ScrapTrade Makes This Easier
Transactions arranged through ScrapTrade use trackable payment methods by default, which sidesteps cash-specific compliance questions for larger scrap sales.
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