Safekeeping of Precious Metals

Opening and Maintaining Metal Accounts 

A safekeeping account is opened for a customer to store customer-owned metals in physical form.
An impersonal metal account is opened for a customer to store customer-owned metal in impersonal form, and to carry out operations with this metal.
A metal account is opened pursuant to an agreement between VTB and the account holder.
Key benefits and advantages:

• VTB's superior reliability among Russian commercial banks, which essentially eliminates customer risks and ensures maximum safekeeping of metals;
• no need to pay value added tax when purchasing metals credited to metal accounts (tax is only levied when metal is withdrawn from account in physical form);
• using impersonal metal accounts helps to save on metal storage and transfer to accounts in other banks;
• VTB's extensive branch network;
• comprehensive approach to customer servicing, which envisages offering a loan secured by the account balance;
  
• flexible approach to fixing the cost of metal storage on account depending on metal account balance and level of customer relations.