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Unallocated Bullion Account (UBA) - a customer account where depersonalised precious metal owned by the customer is recorded in grammes, without indication of specific identifying characteristics of ingots (name, hallmark, manufacturer, serial number etc.).
The Unallocated Bullion Account is good for anybody who wishes to invest in gold, silver, platinum or palladium, while avoiding the trouble of the physical acquisition of precious metals. If you buy ingots, their cost is considerably above the market, as the cost of ingots includes VAT, and placing resources in UBA enables the avoidance of VAT payments and thereby considerably raises the profitability of investments. A cash equivalent of precious metal (calculated according to international prices) is deposited in the Unallocated Bullion Account, and the customer waits while the price of the metal increases.
The Unallocated Bullion Account has a number of advantages:
- enables the addition of investments in precious metals to foreign currency savings , thereby lowering the risks of losses related to negative changes in the financial markets;
- provides a high level of reliability of saving funds with the prospect of their increase due to the rise in value of the cost of precious metals;
- allows problems and expenses related to the safe custody, certification and transportation of precious metals to be avoided;
- provides the additional possibility of saving money – when you purchase/sale depersonalised metals you do not pay VAT;
- high liquidity – rates are established daily.
Account treatment:
- the opening and closure of UBAs is free of charge;
- you can open the account by purchasing depersonalised metal from the Bank at the daily established rates;
- statements of account and information about the customer’s account are provided free of charge;
- interest on the depersonalised metal is not accrued;
- in the event of sale of the depersonalised precious metal to the Bank, the customer can get its rouble equivalent either in cash or by funds transfer to his rouble account.
Qualified consultation and current information is available by phone: +7 495 974 71 87
