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Swiss precious metal accounts provide an alternative to investing in precious metals through brokers or buying physical precious metal. Precious metal accounts are similar to other bank accounts, but are denominated by gold, silver, platinum or palladium instead of Swiss francs, U.S. dollars, euros or another fiat currency.
Precious metals are bought directly from the bank which manages the account and sold directly to the bank at its going rates at any time. This limits you to buying and selling at the bank’s rate, but eliminates the need for a broker and brokerage fees.
You can find detailed information about precious metal accounts and their advantages and disadvantages in the moneyland.ch guide to precious metal accounts.
Unlike standard bank accounts, you do not earn interest on account balances. Instead, you pay fees based on the value of your precious metal account. These fees vary broadly between precious metal accounts, with the most expensive accounts costing 5 times as much as the cheapest accounts. Services also vary between accounts. Some banks allow deposits and withdrawals of assets in physical form. Some banks allow assets to be transferred to other precious metal accounts, while others do not. The costs attached to withdrawals and transfers are also different at different banks.
Aargauische Kantonalbank, Acrevis Bank, Alpha Rheintal Bank, Bâloise Bank SoBa, Bank BSU, Bank Cler, Bank EKI, Banque Cantonale de Genève, Basler Kantonalbank, Bernerland Bank, Clientis Bank Oberaargau, Clientis Bank Toggenburg, Credit Suisse, Glarner Regionalbank, Graubündner Kantonalbank, Luzerner Kantonalbank, Migros Bank, Neue Aargauer Bank (NAB), Raiffeisen, Schwyzer Kantonalbank, St.Galler Kantonalbank, UBS, Urner Kantonalbank, Valiant, Zürcher Kantonalbank.