Clients can request a physical withdrawal of registered precious metals through their Holding, either by collecting metal at the vault, or by taking delivery of the metal (typically limited to 100g gold bars, 1kg gold and silver bars, or gold, platinum, and palladium Good Delivery Bars).
To request a physical withdrawal please contact your dedicated Relationship Manager through the Holding messaging system.
Please note: there are insurance and logistical restrictions to which regions, locations, and types of bars that can be delivered - your Relationship Manager can walk you through any that might impact your request.
Frequently Asked Questions
What is a registered bar and why do I need to register a bar to withdraw it?
A registered bar is a precious metal bar that is wholly owned by a single Goldmoney client. Registration is a requirement prior to making a physical withdrawal.
Clients can find further information on the registration process here.
What is the cost for physical withdrawal?
The vault and administrative costs associated with each physical withdrawal will be conveyed to you at the time of making your withdrawal request per the rates outlined in our published fee schedule.
What our fee includes:
- All vault-related handling charges
- Staff time in quoting and arranging the withdrawal with our vaulting partners
- Completing our KYC/AML reviews to ensure that any withdrawal of metal is going to the client of record
Please note that the following withdrawal costs will be added on top of our quoted fee:
- Taxes (such as VAT) if applicable
Are there tax implications?
Goldmoney cannot provide tax advice, however, physical withdrawal of silver, platinum, and palladium from vault providers located in Zurich and London may be VAT (Value Added Tax) applicable. This would be confirmed by the vault at the time the physical withdrawal quote is provided.
For any further questions regarding VAT or other applicable taxes we recommend that you obtain advice from a qualified professional advisor before arranging for delivery or collection of your metal.
If you have any other questions please contact our Client Support team.