Why are we asking you for this?
Maintaining a single ‘linked’ bank account, used for both deposits and withdrawals, is one of our strongest security features. We recommend not changing your linked bank account if at all possible.
If the change is necessary (e.g. if the original bank account has been closed), you will need to follow the procedure below. This lets us be absolutely sure that:
- the change has been requested by the rightful owner of the BullionVault account, and
- both the new and current linked bank accounts are owned by the same legal entity.
This procedure for changing the linked bank account is only applicable if the linked bank account is in the name of a trust. By proceeding with this link change, you will incur an administration fee of £50.
To change the bank account linked to your BullionVault account, you will need to log into your BullionVault account and upload several documents from the ACCOUNT > Documents section. This proves that the request comes from someone with access to the BullionVault account.
Print out the declaration and complete it.
Upload the completed declaration to your account. This confirms that you agree for the change to take place.
- Upload your new bank statement (with a recent date) which clearly shows:
- Name and logo of the bank,
- Name of the Trust as the account holder (must match currently linked account name),
- Account number,
We will be happy to accept a screen-shot of your online banking provided it shows the details listed above.
Upload a statement of your old bank account (currently linked to your BullionVault account). If you do not have it, you can upload any document from your bank which names the Trust as the owner of the bank account.
Upload the complete trust deeds and a list of authorised signatory trustees
Upload a copy of the photographic ID documents for every settlor, beneficiary and trustee.
Upload a proof of address for for every settlor, beneficiary and trustee.. We accept any utility bill or credit card statement issued within the past 3 months.
Request a letter (on letterheaded paper) and business card from your lawyer/notary/chartered accountant which confirms:
- Name and date of establishment of the Trust,
- Trustees' photo ID details (Full names, date of births, ID number),
- The new account number and all instructions which we need in order to send money to that account.
Please ask the lawyer/notary/chartered accountant to stamp the photo IDs and new bank statement.
Scan and upload the letter and business card.
As a further security check, we will contact the lawyer/notary/chartered accountant to confirm the letter. Please inform them that they should expect our call.
We hope that the instructions are clear, but if you have any problems with the procedure, please let us know. We will do our best to assist you throughout the process of changing your banking details.