Frequently Asked Questions
Secure Vaulted Storage
- Can I set up a storage account for someone else?
- What happens to my items if your company fails?
- How can I take delivery of my items?
- If I take physical delivery of my items from storage do I have any taxes to pay?
- Why do I need to prove my identity?
- Why do you need my bank account details?
- What is allocated storage?
- Which products can I have stored?
- What is the minimum quantity allowed to be stored?
- Why can’t I store certain items?
- Are my goods insured in storage?
- How do I check what I have in storage?
- How do I pay the storage fees?
- Can I sell stored items back to you?
- What do I need to do if I move home?
- Can I place items that I already own into storage with you?
Unfortunately, no. Our system allows only individual accounts and requires that the account holder supplies us with verifiable identity and bank details. These measures are for the protection of our clients, our company and to comply with our 'Know Your Customer' security protocol.
Our vaulting partner, Brink's Global Services, acknowledges in our service agreement that
"UK Bullion warrants that property stored by Brink's is owned by the clients of UK Bullion and held as such in Sub Accounts. Brink's will ensure that property allocated to each Sub Account will be physically separated from other accounts, and that records of all property held on behalf of UK Bullion will reflect the holdings in each individual Sub Account". This means that your items are acknowledged to be your property and in the very unlikely event that our business fails your property would be returned to you.
From the Secure Storage section of your UK Bullion account select 'View Stored Items' and select the items you wish to have delivered. This process then notifies Admin of your request. Admin will review all delivery options applicable to your request and contact you by email within 1 working day to notify you of the delivery options and costs. Once you have agreed a delivery method and transferred the appropriate fees to us by bank transfer, your item(s) will be removed from the vault and dispatched to you according to the agreed method and timescale. Your item(s) will be fully insured in transit until signed for at the destination address.
No, all applicable UK taxes were paid in full when you made the initial purchase on our website.
We operate a 'Know Your Customer' security protocol and comply fully with relevant Anti-Money Laundering requirements. These measures are to protect our customers and our company from fraud and illegal activity on our website.
We need your bank account details to establish a linked bank account for your account. This ensures that the proceeds of any sales made within your storage account can only be transferred out of the UK Bullion system to your bank account.
Allocated storage refers to a system where your items are physically separated from those of other account holders in the vault. Your possessions are listed and stored within a sub account and therefore identifiable as your property.
Despite the low storage fees that we charge, certain products that we sell, particularly lower value Silver items are not economically viable as stored items within our system and are therefore not allocated the storage option at checkout.
We restrict the value of individual Gold items eligible for storage to a minimum of £180 per item.
Lower value Gold items, Silver items and gifts are excluded from our storage offer as the service is unlikely to be cost effective for such items.
All stored items are fully insured whilst in the custody of UKBullion and Brink's Global Services. Items for delivery are also fully insured up to the point where they are signed for on delivery at your address.
You can see a complete list of your items that are currently held in storage by selecting the 'View Stored Items' option in the Secure Storage section of your UK Bullion account. Items are displayed individually with a link to the order number under which they were purchased. The real time value of each item, together with the total value of all of your stored items is displayed.
Storage fees will be invoiced monthly in arrears and you will receive an invoice detailing fees that are due. Please settle storage fee invoices by bank transfer within 7 days of receipt.
Yes, we have a simple to use system for you to sell items back to us. From the 'View Stored Items' option in your account you can select which items you wish to sell. After submitting a sell list you will be asked to click to confirm the transaction. That is all there is to it, you have sold the designated items to us at the displayed price. The transaction is recorded in the account history section and your funds will be transferred to your linked bank account within 3 working days.
If you change address you must notify us of your new address and submit new documents to confirm the changes to your address. We will also ask for a new confirmation of linked bank account showing your new details.