BullionVault Review: Scam or Genuine Investment?

Just like you'd approach any investment, diving deep into research is crucial before putting your money into BullionVault. Look at what real customers are saying, understand the company's services and pricing, and weigh them against others in the market. Here's a handy guide to get you familiarized with everything about BullionVault.

BullionVault

Founded in 2003 by Galmarley Limited, BullionVault now enjoys shared ownership with World Gold Council and Augmentum Capital. They proudly manage around $2 billion in bullion, serving over 65,000 clients spanning 175 countries. They've emerged as a leading global online platform for precious metals investments, with their assets safely tucked away in five distinct vaults.

Consistently receiving high praise, BullionVault is trusted by many for gold storage and investment. It offers individuals a convenient platform to trade, purchase, store, and sell their cherished metals at competitive rates. Since 2008, their credibility has been bolstered by membership in the London Bullion Market Association.

BullionVault provides invaluable resources for those taking their first steps into the investment world, particularly in precious metals. Their YouTube channel, for instance, is packed with tutorials on metal trading. They consistently release content, shedding light on securely investing in bullion.

Navigating the BullionVault website is a breeze thanks to its multilingual support, covering languages from Japanese and Chinese to Spanish and French. When you hunt for precious metals, the platform allows easy filtering by weight unit, minimum order size, and where it's stored. Regardless of where you choose to store, BullionVault accommodates purchases in any of its four accepted currencies.

Currently, the platform boasts a selection of six unique coins to cater to varied interests. As BullionVault operates as a dealer, it seamlessly connects sellers and buyers, allowing them to set their terms based on prevailing market conditions.

The site's user-friendly interface features a 'history' tab, granting you a comprehensive view of your account activities—from metal type and quantity to order dates and statuses. Plus, for those looking to deepen their investment knowledge, a dedicated 'investment' tab is complemented by specialized gold investment guides.

Understanding BullionVault's Operations

BullionVault is a gateway for individuals to purchase, retain, and trade tangible assets like platinum, gold, and Silver. They don't just deal in gold and silver bars; coin enthusiasts can also find their picks here.

Traditionally, keeping precious metals at home wasn't recommended. This hesitation made many shy away from such investments because the alternate choice was a high-priced safe deposit box. Today, the scene has shifted, with more pocket-friendly storage alternatives emerging. BullionVault stands out in this regard.

They present a feasible storage solution for your treasured metals, eliminating the concerns of home storage or breaking the bank for a deposit box. BullionVault ensures safety and affordability with storage plans beginning at a mere $4 monthly.

BullionVault: Ways to Store Your Precious Metals

BullionVault offers storage solutions in five diverse countries, letting you pick the most suitable one. Here are the destinations available for keeping your treasured metals:

• Zurich, Switzerland

• Toronto, CanadaNew York, USA

• London, UK

Storing your gold or Silver with an online vault, like what BullionVault provides, is secure and intelligent. Recognized for their top-tier security, BullionVault's vaults rank among the most fortified globally. Plus, every single coin and bar is insured. While they offer storage, the choice remains yours—pick any location you desire.

Say, you're an investor residing in London. You might lean towards Singapore or New York. But if collecting your metal personally resonates with you, London or Zurich could be ideal. Moving your metals to another country with added assurances is always an option if you reconsider.

Assessing BullionVault's Safety: Is It Reliable?

BullionVault boasts one of the most fortified and trustworthy online presences globally. Interestingly, they also offer an app, primarily beneficial for their trading clientele. Rest assured, the safety of your treasured metals is a top priority as they're not only insured but also shielded from potential digital threats.

Here's a comforting thought: even if a cybercriminal manages to infiltrate your account, they might liquidate your metals but can't pocket the proceeds. Why? Because funds are only transferred to your registered bank account, ensuring an extra layer of security.

Additionally, keeping your gold in a foreign vault means it's out of reach from your local government's clutches. But a word to the wise: if you're stashing gold domestically, be mindful that tax officials and creditors might have access. Thankfully, BullionVault allows storing your valuables abroad, adding a layer of discretion.

Now, let's talk storage. BullionVault entrusts its clients' assets to three eminent vault providers:

• Brinks, rooted in Richmond, Virginia, is a financial institution and a government security agency.

• Malca-Amit, originating from Hong Kong, excels in storage and transportation services.

• Loomis International, a Swiss powerhouse, is recognized by banks worldwide and operates across Asia, Europe, and America.

Worth noting is that these esteemed establishments are affiliated with the London Bullion 

Market Association, though only in their capacity to offer unparalleled security services to BullionVault.

What BullionVault Brings to the Table

BullionVault presents a variety of precious metals tailored to your needs and budget. It's noteworthy that coins typically carry a higher price tag than bars. Here's a breakdown of the options available for your purchase at BullionVault:

• Coins in Platinum

• Bars of Platinum

• Silver-based coins

• Bars of Gold

• Coins in Gold

• Bars made of Silver

The starting amount for any precious metal you're considering is one gram. The purity standards for each bar BullionVault offers are:

• Platinum at 99.95%

• Silver at 99.9%

• Gold bars at 99.5%

It's essential to note that BullionVault doesn't stock white gold. You need to explore other avenues if that's on your wishlist. Beyond just sales, BullionVault introduces an Automatic Gold Investment Plan for their clientele, coupled with the promise of secure and cost-effective storage.

The Automatic Gold Investment Plan allows you to acquire gold regularly, based on the daily rate in London. Fund your account, and your balance is used to auto-purchase gold. It's a hassle-free approach to gold investment, eliminating the need for manual trades or orders.

Costs Associated with BullionVault

Considering a dive into the world of precious metal investments? BullionVault emerges as one of the most pocket-friendly choices. But let's be clear – maintaining a BullionVault account isn't without its costs. Here's a breakdown of the associated expenses.

Firstly, llet'sshine a spotlight on what ddoesn'tdent your wallet with BullionVault:

• No fee for shutting down your BullionVault account

• Zero charges for fueling up your BullionVault account

• Access to live pricing charts at no cost

• Signing up on the platform wwon'tcost you a dime

Now, llet'sdelve into the costs tied to safeguarding gold with BullionVault:

A modest monthly fee of $4 covers both storage and insurance for gold

Annual silver storage charges are 0.48%, billed monthly, averaging about $48 yearly. If you fancy a touch of security, you can opt for SMS alerts. It's optional, not mandatory. Each alert comes with its charge, keeping you updated on account activities. For specifics on the SMS costs, a visit to the BullionVault website will clarify.

For those seeking physical delivery of their gold bars, a 2.5% fee on the total value is what you're looking at, especially for large amounts of around 400 troy ounces. Smaller gold bars of about 100g attract a 3-6% surcharge. For unconventional sizes, expect a 7.5% charge.

IIt'spivotal to grasp that the llion'sshare of the fee caters to services like withdrawals, reservations, transport, and safekeeping. Plus, always account for insurance, transit costs, and potential taxes upon pulling out. Traders, heads-up: violating BBullionVault'sterms might hit your pocket. HHere'sa a peek at possible penalty costs:

• BullionVault reaching out to your bank costs $30

• Declined card deposits set you back by $30

• Unsuccessful bank withdrawals? TThat'sanother $30

• Regular small deposits might have varying charges

• Forget your password and need help? $20

• Procrastinating on account validation? IIt's$30 monthly.

Fees for Purchasing and Offloading

BullionVault sets the minimum acquisition at just one gram. Both buying and selling of gold come with a commission fee. For example, the initial $75,000 of gold you purchase at the beginning of the year incurs a 0.5% fee. The subsequent $75,000 is charged at 0.1%, while any further gold purchases during that year attract a 0.05% rate. This fee pattern holds for selling gold as well. For a comprehensive understanding of their pricing and commission system, iit'sbest to refer to their official website.

Annually, commission brackets get recalculated, and rates default to 0.5% on the anniversary of when you first set up your account. While transferring money from BullionVault to your bank has a $10 charge, incoming wire transfers to BullionVault will be okay with you.

Unpacking the Process: Opening Your BullionVault 

Account

Starting your journey with BullionVault is quite a breeze. HHere'sa a friendly step-by-step walkthrough to help you out:

• Visit their official site and hit the "Create an account" button. Or, for an on-the-go  experience, grab their mobile app and set up your account there.

• Begin the registration by entering details like your name, chosen username, email, and how you discovered BullionVault. Remember to craft a secure password.

• Give the nod to BBullionVault'sterms and conditions.

Click on ''nitiate account.''Check your inbox for their verification email, and acknowledge it. It's essential to complete your account verification within two months to dodge a $30 monthly fee.

IIt'sgenuinely that hassle-free. After setting up, BullionVault welcomes you with a complimentary four grams of Silver. Only charges apply once you can add funds for gold or silver purchases. And when you reset to fund your account, hhere'syour a go-to guide:

• Tap on the ''dd ffunds'option.
  

• Opt for the bank account method.

• Choose your desired currency.

• Use the provided details for your bank transaction.

• Under transaction purpose, jot down your username.
  

It's pivotal to confirm your identity post-transferring. Just upload a digital copy of your ID (ddriver'slicense or passport) and a bank statement tied to your BullionVault account. Or, acquire a bank-certified form and mail it over to them. Though it might take a bit, remember yyou'refree to transact and fund even before verification. The mobile app offers a streamlined verification process.

Want a hard copy of the details? Feel free to print. With your account prepped, you can seamlessly fund it to kickstart your gold venture. And once you reset, here's a snapshot of opportunities waiting for you:

• Secure gold as a long-term asset.

• Set up a recurring Gold Investment Scheme.

• Capitalize on price surges by selling.

• Engage in active trading.

• Acquire gold coins.

• Explore platinum investments.

• Dive into silver purchases.

Managing Deposits & Cashing Out

After setting up your BullionVault account, adding or taking out funds becomes simple. Opt for wire transfers to streamline your payments. If your bank doesn't support the four currencies recognized by BullionVault, ddon'tfret, there are solutions to convert your funds to an accepted currency.

The reflection is almost instant if you utilize a credit or debit card for deposits. However, methods like SWIFT take up to 36 hours. International movements of money typically need three to five working days to process. Since BullionVault operates from London, local bank holidays can influence fund delivery times.

Thinking of withdrawing? Bear in mind that all transactions align with GMT working hours. The fees for these processes differ depending on your bank and geographical location.

Advantages & Drawbacks of BullionVault

Advantages

• Their insurance policy extends up to April 2022.

• Their online interface is outdated.

• Their precious metal variety is limited.

• Multiple charges may apply.

• Bies receive a bonus:four grams of silver.

• Complete insurance coverage is provided.

• Buying and selling spreads are attractively minimal, more so than banks.

• They feature both bars and coins.

• Gold relocation is possible based on your preference.
• Upon asking, they can deliver gold right to your doorstep.

• It ranks as one of the most budget-friendly methods to acquire and store real gold.

• Their online portal stands as a trusted and long-standing one in the sector.

• They've designed a handy app tailored for traders.

• Their service and commission charges are on the lower side.

• They operate with clear-cut transparency regarding costs and offerings

• Support is available through email, real-time chat, and phone conversations.

• Pick from five internationally recognized secure storages.

• Their gold transactions support four major currencies: USD, EUR, JPY, and GBP.

Drawbacks:

• Witching bank accounts can take time and effort.

• Identity validation might require some patience.

• Their insurance policy extends up to April 2022.

• Their online interface is outdated.

• Their precious metal variety is limited.

• Multiple charges may apply.

Is BullionVault Genuine or Just a Scam?

Certainly, BullionVault isn't a scam. It is a reputable firm tthat'sgained significant recognition over its years in operation. They have a tangible office, warmly welcoming visitors; however, scheduling a visit in advance is advisable.

Whether BullionVault aligns with your investment goals is a decision only you can make. Based on its track record, you can gauge if it aligns with your aspirations. A notable feature of BullionVault is its rich collection of educational materials, guiding you on the intricacies of precious metals and their investment avenues.