Safekeeping of Precious Metals
Opening and Maintenance of Metal Accounts
A safekeeping account is opened for a customer to store customer-owned metals in physical form.
Depersonalised metal accounts
A depersonalised metal account is opened for customers to store customer-owned metal in depersonalised 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- no need to pay VAT when purchasing metals credited to metal accounts (tax is only levied when metal is withdrawn from the account in physical form);
- using depersonalised metal accounts saves costs on metal storage and transfers to accounts in other banks;
- VTB’s extensive branch network;
- VTB’s comprehensive approach to customer service, which includes the provision of loans secured by the account balance;
- a flexible approach to setting the cost of metal storage on account, depending on the metal account balance and the level of the relationship with the customer.