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Saving Accounts

Precious Metal Saving Account

We offer a savings account allowing you to deposit money to buy unallocated metal to pre-fund a larger purchase.

Buy metal at 1% premium (refunded at time of redemption) or add GBP to your account for 0% fee.

Our savings accounts are 'pre-funded accounts' allowing you to regularly deposit money to exchange for products and services at a future date.

When you buy 'unallocated' metal on a savings account with us, you acquire a fixed number of troy ounces which then fluctuate with the live market price. When you are ready you can use the metal balance to pay for any products or services or even close your metal position converting back to GBP, USD or EUR.

We also offer DigitAul and vaulted storage in addition to this savings account. If you are unsure which one is best for you please call customer service on 01253 343081 .

Top Up Your Account

Use the payment feature below to add a balance to your savings account once logged into your online account:

Metal Account Purchase

  Buy In Troy Ounces Buy In GBP
Unallocated Gold
Unallocated Silver
Prices based on the live metal price may fluctuate until your purchase is complete.

Payment options are bank transfer, debit card, cheque and cash depending on the transaction value.

Please note metal costs 1% (in troy ounces) to load your account which is refunded (as troy ounces) at the point of exchange into physical.

What You Need to Know

Key facts about our savings accounts and unallocated metal (full terms here):

  • Loading metal to account costs 1% (in troy ounces) which is refunded (in troy ounces) when you transact into physical metal.
  • If you opt to sell rather than transact into metal, Chards will purchase any number of troy ounces on your account for 100% of the live spot rate.
  • BACS payment is usually set up the same day if received by 1pm. Please note processing times are between 0-3 days.
  • When available, the CHAPS same-day service is charged at £20 per transfer. Instruction must be received by 1pm.
  • There are no storage fees associated with metal on our savings account.
  • Access your pre-funded account 24 hours a day, 7 days a week, 365 days a year.
  • Large orders (over £30,000) require a 10% deposit to be paid and must be done during office hours (9am-4pm).
  • Buying metal on a savings account gives you the right to take delivery of physical gold at a future date determined by you.
  • If you wish to redeem metal, you are required to pay a delivery premium. The most cost-effective option is for you to choose the products you want and use our online checkout.
  • Further delivery costs (on top of the delivery premium) apply should you wish for onward delivery to an address.
  • Customers are required to open an account and must provide identification as part of our onboarding process. An account can be set up by following this link to our customer accounts.
  • The minimum order value is GBP 10, USD 10 or EUR 10.
  • Our stock is fully insured by Lloyds of London and we are an award-winning bullion dealer with over 55 years' experience. We invite you to check our financials on Companies House, carry out your own due diligence or even pop in for a chat (appointment required during Covid-19).

Please note profits generated from disposals of the savings accounts are a capital gains tax (CGT) liable transaction as such we recommend this product only where physical ownership (in the form of CGT exempt coins) is not practical. If CGT is a consideration for you, please consider our vaulted storage in Blackpool or overseas.

If you wish to buy CGT exempt bullion for delivery or vaulted storage please visit our CGT exempt gold and silver coin category page.

Full Terms for pre-funded accounts (unallocated metal account) - https://www.chards.co.uk/info/metal-account-terms

Savings Account vs DigitAul Account

We offer a savings account which we recommend for low value and/or temporary use, and investment grade DigitAul metal accounts for medium to long term investments.

Our savings accounts are intended for short-term use or for customers who ish to deposit smaller sums to buy products or services in the future. Savings accounts are also used to navigate situations where banks restrict transfers to £10,000 per day, allowing customers to load up on troy ounces of metal which are then transacted into physical metal once the full balance is reached over many days.

We recommend DigitAul accounts for investors where large balances of digital bullion are desired over physical and you intend to hold for the medium to long term.

Savings accounts do not have any storage, insurance or delivery fees whereas DigitAul accounts have storage fees as your allocated bullion is stored in our vaults. The storage fees cover transport, vaulting and insurance and you can follow this link to our vaulted storage fees.

What Is Unallocated Gold and Silver?

Contractually, if you buy metal on a savings account you are purchasing what is known as 'unallocated metal'. This grants investors exposure to the price of precious metals without having to take delivery but instead, having the right to do so at any point in line with the terms of sale. This means you are purchasing a number of troy ounces of metal (to 4 decimal places) without specifying the design, form, manufacturer etc, therefore paying low premiums. This is a very flexible option for us as a business and reflects in the savings account being the lowest premium account you can open. 

In contrast, DigitAul accounts (allocated metal) allow you to buy into a pool of bullion that is backed one to one between customer orders and our physical bullion stores. We would recommend any investor, where their budget allows, to buy metal on DigitAul accounts or better still buy physical bullion.

Selling Metal from Savings Accounts

We buy back metal on savings accounts at 100% of the live price. Please note profits from this sale (not the full value) will be liable for UK capital gains tax if you are a UK resident.

Alternatively, any metal held in account can be used as a payment option for any other product or service from Chards. We will add 1% (in troy ounces) back onto your account before you make any purchase.

Why Buy Gold?

Gold has shown the ability to preserve wealth throughout numerous historical economic crises, due to its properties as a practical and valuable commodity with timeless appeal. As the price of gold increases in accordance with the cost of living, the precious metal is a universally accepted hedge against inflation and weakening fiat currencies (USD, GBP etc.). We only need to review the price charts to see that the price of gold has doubled since 2009 (as of December 2020)

Gold is one of the most desired metals in the world and has been for thousands of years. Even in society and language we think of gold medals, gold stars, gold status as among the highest achievements. Its use as a standard in monetary systems is well established as is its use in electronics and jewellery.

Nowadays, gold is widely used as a hedge against currency devaluation, but its ever-increasing price makes it seemingly out of reach for some would-be investors. Now, with Chards, anyone can purchase small or large amounts of metal on account as often as they want as a way of saving and investing their money

Gold Facts

Most of the world’s gold was mined during the California Gold Rush in 1849. It makes up around 90% of the global stock.

The Fort Knox Depository in Kentucky holds around 4,600 tonnes of gold worth in excess of £220 billion!

Gold is incredibly durable and pliable enough that it can made into something as thin as sewing thread.

Gold is so scarce a 1oz gold nugget is harder to find than a 5ct diamond.

More steel is poured in 1 hour than gold has been poured in recorded history.

There is estimated to be around 15,000 tonnes of gold still in the world’s sea beds.

Advice Disclaimer

We are not financial advisers, and we would always recommend that you consult with one. We can only give advice on our best deals and information on our services. It is your decision which purchase is suitable for your budget and portfolio. We cannot predict with any certainty what silver, gold or any other commodity or currency will do over any length of time and neither can anyone else! Because of this, we tend to avoid giving any definite advice or strong opinion. There are some areas where we have considerable experience and feel we can safely give our thoughts. Some of it may appear obvious but we often find ourselves repeating it.

Further Reading

We have a number of gold and silver articles in our gold guide and silver guide. Follow the link for more information.

Please follow these links to learn more about our DigitAul (allocated metal), vaulted storage (allocated and segregated storage) and Bitcoin Accounts.

Full terms of sale for physical bullion (buying from Chards) - https://www.chards.co.uk/info/terms-of-sale

Full terms of purchase (selling to Chards) - https://www.chards.co.uk/info/terms-of-purchase

Full Terms of Vaulted Storage (allocated and segregated) - https://www.chards.co.uk/info/storage-terms-of-sale

Full terms for digital bullion (allocated and unallocated) - https://www.chards.co.uk/info/metal-account-terms