Bullion Vault Online Gold Investment Service
The World’s Largest Online Investment Gold Service
An Introduction to BullionVault
BullionVault was founded in 2005 by Paul Tustain. Based in London, the company holds gold in vaults in London, New York, and Zurich for its customers in allocated accounts. Because Bullion Vault holds physical gold for its customers, there is a legal bond between the comapany and the customer called a bailment. A bailment simply describes the relationship between the customer (the holder of the gold) becomes the bailor and allows BullionVault to act as the bailee and keep possession of the gold. Ownership remains with the bailor.
The commissions and custody charges of BullionVault are some of the cheapest available, starting at just 0.02% commission and rising to 0.8% depending upon the amount of gold bought or sold. Its custody charge is a minimum of $4 per month, though it is set at 0.12% per annum.
With 34,500 users of its services, and around $2 billion of gold and silver held in its vaults, it is the world’s largest online investment gold service.
How to use BullionVault
Firstly, it is necessary to open an account with BullionVault. This is done online at www.bullionvault.com, and takes no more than a couple of minutes. The process is easy to follow, and there is no cost to register as a user and open an account. There’s also no obligation to use BullionVault’s services.
Once an account has been opened, then the registered owner of the account will need to deposit funds if he wishes to purchase gold. Again, this is an easy process, though there are regulatory money laundering requirements to be executed.
Once the account has been set up, and funds deposited, then the account holder is able to buy gold through a simple click and purchase price screen. This screen gives two way prices (buy and sell side) for a range of investment bars.
When the holder of gold wants to sell and realise his funds, he sells through the prices screen and requests withdrawal of his cash. The money will be reverted to the account which was used to deposit funds, unless otherwise stipulated, and deposited within one business day.
Advantages of Using BullionVault
Being the world’s largest online bullion market, BulliojnVault is able to offer possibly the lowest buying and selling rates in the market today.
Gold that is bought is always investment grade and held in allocated accounts within high security vaults in one of three major financial cities. Customers benefit from storage rates usually only available to large, wholesale customers.
The buying and selling process is easy, and deals can be struck in the account holder’s own currency. When selling, next day withdrawals allow fast access to funds.
With 24 hour dealing, and daily audits of gold and silver held, BullionVault also offers round-the-clock investment opportunities and peace of mind to its account holders.