Opening and maintenance of intangible metal accounts

Dear Customers,

We thank you for using our services, as well as the positive feedback you have processed. We are committed to providing the most favorable services with introduction of up-to-date financial instruments. We kindly attach your attention to the terms of opening and maintenance of intangible metal accounts (IMA).   

The Bank offers non-cash gold metal accounts for insuring your funds against currency risks. The intangible metal account is assigned for calculation and non-cash transactions of gold, considering only the gold's standard and weight. The Bank provides you the opportunity to open an IMA or transfer the current account to IMA based on your application, to convert the account cash into gold (intangible gold), as well as to enjoy the following benefits:   

• Revenue from growth of gold prices in international markets;
• Reducing the impact of exchange rate fluctuations;
• Ability to avoid fraud and misleading while purchasing tangible gold;
• Eliminate the possible risk of loss or damage to the tangible gold;
• Time saving and fast sale of gold: you can at any time sell the intangible gold to the Bank at the exchange rate set for the moment.
  
  

Maintenance fee is charged quarterly, at the beginning of each quarter, provided that the fee for accounts opened during the quarter is charged at the beginning of the following quarter.

The Bank determines purchase and sale rates of 1 gram of gold for cashless transactions on the accounts. The gold is withdrawn from the metal account by selling at an exchange rate set by the Bank or by transfer to other non-cash gold accounts. 

Non-cash sale of gold is performed on the basis of the submitted application.