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BullionVault Review 2022 – Easily Buy Gold & Silver In USA, UK & Canada

BullionVault Review
  • Easy To Use?
  • Cost
  • Profitability
  • Time Needed
4.9

BullionVault is the largest online gold investment business in the world. They are in charge of more than £2.9 billion of Gold for more than 100,000 clients. It is simple and quick to use. UK investors now have access to the professional bullion markets thanks to BullionVault. You can enjoy the lowest possible expenses for purchasing, trading, and keeping gold and silver.

Additionally, the bars are housed in vaults that cater to the professional market in cities such as London, Zurich, Toronto, Singapore, and New York. Clients get the advantage of the cheap storage fees that they have negotiated, which always include insurance, thanks to the scale of their company.

In this review, we are going to talk about BullionVault. Its purpose, its benefits and downsides, and other related topics that we hope you will find useful.

Aims of BullionVault

BullionVault’s mission is to provide individual investors with the safest, most cost-effective, and most convenient market for professional-grade gold and silver bullion.

Generally, BullionVault acts in this manner because:

  1. BullionVault believes current governments and financial entities lack fiscal responsibility
  2. Modern currencies and paper-based value systems will hinder savers’ local and global buying power
  3. They’re prepared to provide accessibility and manage the service to maximize client security, accessibility, and value.

Responsibility

Being the chairman of the board and the company’s majority shareholder, Paul Tustain assumes responsibility for the organization of BullionVault’s system controls and the arrangement of responsibilities within the team.

As well as those of the company’s custody providers, to ensure the highest possible level of protection for the gold and cash held by the company’s customers. In addition to providing the business with expansion money, Paul Tustain has also given management bonds, which are now kept as gold and cash and separated for consumers’ benefit. 

These management bonds are not eligible for a return under any circumstances, except the ultimate liquidation, in which case they take second place after all other customer property regarding reimbursement.

This arrangement is constructed to reinforce the notion of “accepting responsibility,” which is the underlying motivation behind its creation.

Here is a short video explaining more about the services they offer;

Becoming a Member of the BullionVault Customer Base

For investors to purchase gold or silver with BullionVault, they are required to complete the following steps:

1. Create an account with BullionVault via their website. Fill out the online registration form on the website of BullionVault with your personal information.

2. Place a financial deposit into your BullionVault account. You may finance your BullionVault account by depositing money. Generally, you may deposit funds in Japanese Yen, British Pounds, Euros, or United States Dollars. It is possible to send money through a direct wire transfer to a customer account held by BullionVault at Lloyds TSB in the United Kingdom.

3. Purchase gold, silver, or platinum. You can submit an order once BullionVault has received your deposit.

4. Provide evidence of your identification. Fourteen days after funding your account, get verified. You may validate your account online by providing a copy of your ID and a current bank statement. Also, you can send BullionVault a bank-stamped document to verify your identity. Before verification, you can trade and deposit.

Pros & Cons of BullionVault

If you’re considering subscribing to Bullionvault services, you need to know what you’re paying for. To help you out, here is a review of some of their pros and cons:

Pros

  • Gold purchases are tax-free
  • For new customers, they give you a free 4g silver bar
  • The insurance covers everything
  • They have a lower selling or buying spread than the bank but at a lesser price
  • Ingots and coins are among the additional options available
  • If you’d like, you can request that your gold be moved to a new place
  • You can have your gold delivered to your residence if you so choose
  • It is one of the most cost-effective methods for storing and purchasing gold
  • As one of the industry’s longest-standing websites, theirs is well-established and trustworthy
  • It is convenient for traders to use an app provided by the company to manage your account
  • Their prices for storage and commissions are minimal
  • They are open and honest about their pricing and services
  • Customers may contact them by email, live chat, or phone
  • It is possible to select from various safe and worldwide storage options
  • USD, EUR, JPY, and GPB are the four currencies offered for bullion trading at the company

Cons

Although it provides services with significant potential, it does not have all of the necessary information, resulting in a few limitations.

  • Various transaction fees need to be considered. Some of these may be subject to negotiation though. There are also some penalty charges that may apply
  • Only three metals may be purchased in coins or bars: gold, silver, and platinum

Safekeeping of Your Bullion

Your Bullion is given the highest level of security while it is stored in the vault. Here are some things you should know about item security.

1. It comes with insurance coverage.

2. Because it is subject to your chosen jurisdiction, you determine the kind of government and legal framework in which you have faith that it will safeguard your property.\

3. Access to your account is safeguarded by cutting-edge encryption technology. BullionVault was built to tolerate the account access being hacked while still ensuring the security of your property.

4. Restrictions on the withdrawal of funds ensure that any money withdrawn from your account goes back to you and no one else.

5. You have the ability, at any moment, to monitor the data that BullionVault maintains to demonstrate that they have accurately assigned vaulted Bullion to you.

Special Precautions Taken by BullionVault for Your Safety

Here are some special precautions in place at BullionVault to ensure your safety.

Feedback on Accounts

You have the right to depend on BullionVault to send emails to confirm any changes made to contact data. This also includes settings for the bank account linked to your account on BullionVault.

A breach of these commitments on the part of BullionVault, which results in a loss for you, is subject to Terms and Conditions. Generally, it will result in BullionVault being financially responsible to you for the loss.

Burglar Alarm

Customers must have a smartphone to utilize the Burglar Alarm service from BullionVault. You’ll receive notifications from them when you check in, when a transfer is asked, or if you’ve activated a reset password.

It also has to raise the Burglar Alarm notification and text message routing, which BullionVault does. Surely, your account’s Burglar Alarm is an excellent deterrent for criminals.

Such access can be reported at the time of the incident so that it can investigate and seek assistance from authorities in identifying crimes and arresting criminals. If the Burglar Alarm signals unauthorized account access, you agree to alert BullionVault immediately.

BullionVault may debit your account conforming to its stated Tariff if the Burglar Alarm goes off. In addition, it will show you how much it costs to send an SMS to your cell phone.

Offerings from BullionVault

You have various options when purchasing precious metals from BullionVault, based on your budget and the specifics of your search. It is important to note that the coin’s cost is higher than that of bars. When purchasing BullionVault, you have the alternatives that are listed below available to select from.

  • Gold bars
  • Gold coins
  • Silver bars
  • Platinum coins
  • Platinum bars
  • Silver coins

The smallest amount of precious metal that may be purchased is one gram. This applies to all of them, 99.9% for silver, 99.5% for gold bars, and 99.95% for platinum.

It is important to note that BullionVault does not provide white gold, so if you are interested in purchasing it, you will need to go elsewhere.

BullionVault provides its clients with various services, including the ability to buy gold and silver from the company, an automatic gold investment plan, and safe and economical storage options. In addition, users may buy gold and silver from the company.

Frequently Asked Questions

Is BullionVault legit?

Founded in England and Wales under the business number 07400400, BullionVault has its headquarters in the United Kingdom. The organization adheres to English property law and works with LBMA-approved vault and storage providers. 

It is totally up to you to decide whether you want to invest in BullionVault or not. Based on the evaluation, you can determine if it meets your requirements. One of the advantages of using BullionVault is that it provides access to various informative materials and can help you gain a deeper understanding of precious metals.

Where is Bullion stored?

You get to decide which of the following vaults your Bullion is kept in, which might be one or more of the following locations:

  • New York (USA)
  • Toronto (Canada)
  • Singapore
  • Zurich (Switzerland)
  • London (United Kingdom)

You can pick an offshore jurisdiction for storage if you want to store your Bullion in one of these locations. Additionally, they cover some of the most active bullion markets in the world.

Can I use a debit or credit card to make a purchase?

Debit cards can be used by people with bank accounts in the UK to make their first deposit. You must use a bank transfer when making larger initial and future deposits.

Because the card processors demand greater fees for the usage of credit cards and cards issued in countries other than the UK, they cannot accept these types of cards. Retailers who offer products with large margins can bear these types of expenses. However, because of BullionVault’s low commission rates, this is not feasible for them. 

BV also does not acknowledge or accept prepaid cards because these cards are not linked to a specific bank account.

BullionVault Reviews

BullionVault has a large number of satisfied consumers. When dealing with a well-known company with many customers, one should anticipate receiving a few negative evaluations. 

Trustpilot

Trustpilot is a well-known website that allows users to post online evaluations, and BullionVault has earned a lot of excellent feedback on that website. The organization has obtained an average level of customer satisfaction of 95 percent, which suggests that 95 percent of BullionVault’s customers are highly satisfied with the service they received.

However, the evaluations on Trustpilot are written by average consumers and not specialists who have tried a higher number of items. So, they should be taken with a grain of salt, just like any other review.

SiteJabber

After reading only two reviews, consumers have rated BullionVault with only 1.5 stars out of five. This suggests that most customers are unhappy with the products they have purchased from the company. Additionally, when compared to other gold sites, BullionVault comes in at position 68.

Reseller Ratings

Customers have high confidence in Bullionvault since it is a trustworthy platform. BullionVault received a total of 3.69 stars from the reseller rating system, which had 19 reviews.

We hope you enjoyed this BullionVault review. You can visit their website here – https://www.bullionvault.com/

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