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Last Updated: November 19, 2023
As you search for gold bullion dealers, you will surely come across one of the largest in the world, Bullion Vault. The Bullion Vault platform receives millions of visitors a year, but are they a trusted source for buying precious metals?
In this Bullion Vault review, we will break down all the details, including how to open a bullionvault account and add your bank account information.
We have researched this platform in depth and are ready to help you determine whether they are a good fit for purchasing physical gold and holding it safely.
Many invest in gold to diversify their investment portfolio and hedge against inflation and deflation. We want to share our experiences with Bullion Vault and help you determine if this bullion dealer is a sound option for private investors or one to avoid.
Please keep reading to learn all the details, and stay until the end, when we give you our final thoughts based on the facts we have uncovered.
BullionVault is one of the largest bullion dealers in the world and has been around since 2015. The dealer boasts over 85,000 customers across the globe.
Here, you can buy, sell, and trade various precious metals, including gold, platinum, palladium, and silver bullion.
BullionVault has been a proud London Bullion Market Association member since 2008. The London Bullion Market Association was established in 1987 and is a global authority regarding precious metals. Companies can only become members if they meet the stringent requirements of the association.
Paul Tustain is the founder of BullionVault. This Fintech entrepreneur invested his own money and now brings in millions yearly. Paul is the chairman of the board and majority shareholder.
The company has three active directing CEOs: Paul Tustain, Robert Paul Glynne, and Justina Prytula. The company also employs five active directors, including the following:
Bullion Vault headquarters are located in London Hammersmith at the following address:
Galmarley Ltd. Building
3 Shortlands 7th Floor
The company invites people to visit and tour the facilities to learn more about their operations.
Here, we get to the meat of the matter. Our BullionVault review would mean nothing if we did not discuss what customers and consumer protection agencies say.
When researching any company, our first stop is checking out their Better Business Bureau profile.
You can learn a lot about a company here, including its accreditation status, customer review rating, customer response rating, and filed complaints. We would be remiss if we did not include this information in our BullionVault review.
First, BullionVault is not accredited by the Better Business Bureau. Although some legit companies never get accredited, this does concern us. Most forthright companies want accreditation because it makes them appear more trustworthy.
Bullion Vault has a poor rating on the BBB, with only one star out of five. This rating is based on one single customer review. We are trying to understand why the company does not have hundreds of customer reviews.
The rating for Bullion Vault is B-, and there has been one closed complaint in the last three years.
The customer complaint centered around Bullion Vault demanding information regarding corporate disclosure when the customer was not opening a corporate account. From what we can gather from the facts, the matter was never resolved with the customer.
Our next stop was Trustpilot, another consumer review site offering valuable company information. Here, we found much more favorable results.
Bullion Vault has over 2,000 customer reviews with a 4.6 out of 5 star rating. The company has received many five-star reviews on Trustpilot.
While there are many happy customers, there are also many unhappy ones, which we will address in the next section.
Remain vigilant when researching companies. If you see many poor customer reviews, you may need to ask is BullionVault legit.
We found numerous complaints about the company and its operations. While we have come to expect complaints about benign things like storage fees, some bullionvault customers have much more serious problems with the dealer.
The following are some common elements found in complaints across the board:
As you can see, the allegations above are not criminal, but they would make us think twice before dealing with a company.
Negative reviews are sometimes subjective. You must know how to read them to determine whether they are reasonable. We try including facts in this BullionVault review to help you decide wisely.
When you see the same themes repeated over and over in negative reviews, you should take notice. If current bullionvault clients are unhappy, you will likely not be either.
We will dig deeper into this company and see what else we can uncover to help our readers learn about this trading platform and all it offers.
Although we expect excellent customer service from companies, there is a mixed reaction from Bullionvault's customers regarding their experiences with buying gold, silver, and platinum. Consider the following before you purchase gold from Bullion Vault.
There are a lot of fees to consider when you buy gold bullion and store physical gold coins. You are not going to find any entirely free services. There are free aspects to membership on Bullion Vault. We break down each of the BullionVault fees below.
Before opening an account and buying physical gold bullion, you must know a few fees and percentages. Because the fees can change without warning, we urge you to visit the Bullionvault website for the most up-to-date information.
The bulk of fees come with bullion management. The following are the bullion management fees associated with your Bullion Vault account. Keep these in mind, and know they are subject to change.
Bullion Vault also offers armored car transport services. There are fees with this service for transporting your physical gold from one vault to another.
There are also reservation fees. These fees are based on the precious metals and sometimes the country.
The company seems to charge many fees, which is one of the number of complaints about the company. The costs can often seem erroneous and extravagant.
We break down the possible penalties you may face throughout account ownership below.
As you can see, fees can add up, especially under certain circumstances. We want to provide as much free information as possible with this BullionVault review, which is also readily available on the website. However, some fees have a range instead of a flat price
A company is only as strong as its customer service department. What level of customer service does Bullion Vault offer?
We have already briefly mentioned some issues with customers dealing with rude and unknowledgeable customer service representatives, but let's dig a bit deeper to learn more.
The customer service team is available via phone, email, and online chat. You can ask questions about buying gold bars and other physical bullion.
Many customers say they did not receive knowledgeable guidance, but it appears Bullion Vault operates on more of a service level by providing a platform instead of advice.
There are many other options if you need help investing in gold, silver, and platinum or want to learn about gold taxed and other essential topics.
There are many positive reviews regarding their customer service but also problematic ones. It seems the customer service issues are hit and miss, depending on the problems needing attention.
Bullion Vault is, without a doubt, a legitimate company. The company has operated since 2005 and has experienced growing overseas sales.
Bullion Vault makes it easy for people to participate in bullion trading with gold, silver, and platinum.
Just because a company is legitimate does not mean they operate with sound business practices. We recommend researching carefully before investing in physical gold with any company.
Your financial future hangs in the balance. Do not rely on shady companies to help you buy, sell, and trade gold.
This is a question only you can answer. The company seems trustworthy, but we doubt some of its business practices.
We urge you to keep reading and not go on our opinions alone. We suggest you take action and research appropriately before selling gold or storing gold.
The more you know, the better equipped you will be to make a wise decision before buying gold and silver.
You can buy physical gold, silver, platinum, and palladium. The company boasts customers trade over $100 million in gold and silver each month. The company has over 100,000 customers worldwide and stores over $4.1 billion of client assets.
Opening an account is simple. Follow these steps to get started so you can begin using the trading platform.
Account verification is problematic for some users. You must validate your account before buying, selling, and trading gold. As we mentioned, you can incur a penalty if you wait too long.
You can verify your account in the following ways:
Some users report they provided all the requested information, but there were significant delays in verification. Some people said they could never verify their account and finally gave up.
The company sends explicit instructions and information on how to verify your account. We recommend contacting them if you have any trouble.
You must fund your account if you want to buy or store gold. There are two main ways to fund your account: to buy gold and silver.
If you have a UK debit card, you can fund up to £5,000 in your account. Standard card payment fees will apply.
You must carry out a wire transfer if you live outside the UK. You can wire transfer JPY, EUR, USD, and GBP.
The buy and sell dashboard gives you live market prices to bid on gold and silver. The dashboard allows you to filter your choices based on the following:
Customization options allow you to change the dashboard to a market depth indicator, market spread indicator, or order board.
The order wizard offers suggestions to help people buy gold and silver. The wizard will offer suggestions based on the following information:
You can store your gold and silver in five locations throughout the world. You can choose the location for gold stored according to your needs.
The following locations are available:
Though fees are involved, you can easily store gold bullion in these locations. Your gold and silver will stay safe because Bullion Vault offers extensive insurance coverage.
All Bullion Vault gold is allocated. The company never deals with unallocated gold regarding bullion stored.
Allocated means you will receive the exact silver coins you buy from the gold market. Your precious metal remains yours at all times, and when you trade precious metals, you will trade the precise original gold bar you own.
You will pay $4 monthly for your precious metal storage insurance. Bullion Vault uses a London-based insurance provider called Marsh & McLennan. This company provides all risk liability insurance up to $2 billion. You can view the company's insurance policy terms and conditions by visiting the website.
Bullion Vault offers several guides to help its customers invest in precious metal. These guides can help you navigate the professional bullion market when holding gold silver. We have found the information helpful if you’re interested in holding physical gold and investing in gold safely. You can access the following:
A Gold News page also receives regular updates with the latest news on how much gold is worth and the shape of the world's central banks. You can also view the charts page to learn about the current prices of white gold and other precious metals.
The online system is very informative and can help you make wise decisions on investing in precious metal products from the Royal Mint. This information can help you trade gold more effectively.
Gold is an excellent investment option because it can help hedge against inflation and diversify your portfolio. Your investment will remain secure, with gold and silver prices rising during high inflation.
Gold is easy to get started with because of its reasonable price. With five vault operators, Bullion Vault easily stores customers' gold.
American Hartford Gold is one of the best companies to buy gold from. We also like Goldco, Augusta Precious Metals, Birch Gold Group, and Noble. American Hartford Gold's online system makes it simple to buy gold.
In this BullionVault review, we have provided extensive information. Our goal is to inform our readers with facts and then leave you to make the right decision for your investment needs.
Although we feel BullionVault is a legitimate company, there are too many poor customer reviews for us to recommend them. We think there are far better companies to invest in gold with, including American Hartford Gold. As always, we urge you to research the best option for your needs carefully.