How do I make a transfer to my bank account from my VeraCash® account?

Two types of transfers are possible: immediate and deferred transfers. A commission of 1% is applied whatever the type of transfer. This operation can be carried out autonomously from your Member Area.

With VeraCash® you have the possibility to make outgoing transfers, which are the equivalent of reselling your precious metals, by selling all or part of your portfolio. Two types of outgoing transfers are possible: the immediate transfer and the deferred transfer.

A deferred transfer allows you to sell your precious metals at the price of the chosen material, an immediate transfer will result in a sale of your precious metals at the price of the chosen material - 6%. You can request an outgoing transfer from your VeraCash® Member Area through the " Request a bank transfer " section. 

Immediate transfer

The immediate transfer is carried out within 24/48 working hours, the sale of your precious metals is therefore carried out within the same period. In this case, your precious metals are resold with the application of a 6% weighting on the premium. This weighting is applied for several reasons. The immediate transaction results in the movement of gold and silver stocks and obliges us to sell your precious metals at the price imposed by our suppliers, due to the urgent nature of the transaction.

GoldPremium : 
The usual quotation is SPOT + 5% premium
The quotation used will then be SPOT

GoldSpot :
The usual quotation is SPOT
The quotation will then be SPOT - 6%.

Silver :
The usual quotation is SPOT + 20% premium
The quotation retained will then be SPOT + 14% premium

Diamond :
The usual quotation is provided by the rapaport, i.e. SPOT
The quotation retained will then be SPOT - 6%.

Let's take an example: 

You want to sell €5000 worth of GoldPremium. The price of GoldPremium at time T is €48.34/g. At the moment, the GoldPremium price is SPOT+6%.

The following calculation is therefore performed: (48.34 × 0.06) = 2.9, i.e. a price of €45.44 per gram of GoldPremium.

For a resale of €5,000, we will charge you 110.03 grams of GoldPremium (always think in terms of weight of material, not in euros).  

Deferred transfer

The deferred transfer is carried out within 10 working days, so the sale of your precious metals takes place within the same period. In this case, no weighting on the premium is applied. 

Let's take an example: 

You want to sell €5000 worth of GoldPremium. The price of GoldPremium at time T is 48.34 €/g. The following calculation is therefore made:

5000/48.34 =103.43, so you will be charged 103.4 grams of GoldPremium.

Whatever the type of outgoing transfer chosen, a commission of 1% applies, as indicated on our price list. Please note that the weight of material you will be debited with is indicative, as the price of your precious metals may vary between the time the transfer request is made and the time the transaction is completed.