FAQ
 

Partner Bank, based in Linz (Austria), was founded in 1992 and sees itself as a pension and advisory bank that specializes in advising and supporting people in their financial planning and in building up their pension provision in partnership with investment advisors and financial service providers. It cooperates with professional investment advisors and financial service providers in Austria, Germany, Hungary, the Czech Republic, Slovenia and Slovakia.

In principle, our customers like to communicate directly with their advisors. However, it is also possible to contact Partner Bank directly by e-mail, telephone or via the bank's online customer service.

We process customer inquiries in German, English, Czech, Slovakian and Hungarian.

Partner Bank AG is obliged to comply with all provisions of the Financial Markets Money Laundering Act (FM-GwG). This includes, for example, establishing and verifying the identity of the contractual partner, providing information on the origin of the funds used and regularly checking the data.

Gold is a chemical element with the element symbol Au (Latin: aurum) and atomic number 79 in the periodic table. It is a shiny yellow metal and is in the 1st subgroup (group 11) of the periodic table, together with copper and silver, the copper group. The three metals are also known as coinage metals. The unit of measurement for gold is carat. Carat is used to indicate the fineness of gold, whereby gold with one carat consists of 1/24 of the total weight of gold. 24 carat gold is also called 999 gold and consists, at least theoretically, of 99.9% pure gold.

Gold has been used for ritual objects and jewelry for at least six millennia and as a means of payment in the form of gold coins since the 6th century BC and has been coveted as a crisis currency ever since.

Gold cannot be produced artificially and is a mineral resource that is only available in very small quantities. Its rare occurrence and its special luster were the reason why gold was able to rise to become the most important monetary and precious metal in the history of mankind. In addition to its special significance for jewelry production and the world of finance, the precious metal also plays an important role as a material for industry due to its exceptional chemical and physical properties.

Resistant to all weathers - high corrosion resistance

What makes the precious metal so interesting for industrial and medical purposes is its high resistance to corrosion. Gold is also known as chemically "inert", i.e. it is very slow to react with other substances. Gold does not react with air or water, for example, and does not corrode even when exposed to demanding weather conditions for very long periods. This high resistance to oxidation makes gold interesting for the manufacture of electronic control systems for high-end electrical appliances, for example. Current components made of gold are extremely resistant to environmental influences and therefore remain conductive for a very long time. Gold is also highly resistant to acids. In dentistry, dental fillings are therefore often made of gold because gold fillings cannot be attacked by acids in the mouth or in food. Food acids cannot harm gold teeth either. Only "royal acid" (three parts concentrated hydrochloric acid and one part nitric acid) is capable of damaging gold and dissolving it.

Bright yellow luster and high density 

One of the most striking characteristics of gold is certainly its light yellow color and its special luster. Alongside copper and cesium, this makes it one of the rare metals with a true color. Another striking physical feature is its high density and the associated high weight. The density is an astonishing 19.3 g/cm³ (at 20 degrees Celsius). By comparison, plutonium has a density of 19.74 g/cm³, which is only slightly higher. The high density and weight of gold are the reason why it is also classified as a heavy metal.

Low hardness and low melting point 

The melting point of gold is 1063 degrees Celsius. Although a heavy metal, gold has a surprisingly low degree of hardness and is therefore very malleable and almost soft in comparison to other metals. The high ductility (elasticity) of gold allows the precious metal to be rolled out into very thin layers until it is only 0.001 mm thick. This property is used, for example, in the production of gold leaf. The extraordinary ductility of gold also makes it possible, for example, to draw a thread up to an incredible length of 105 kilometers from a fine ounce of gold weighing only 31.1 grams. The low melting point of "only" 1063 degrees Celsius (for comparison: iron melts at 1535 degrees Celsius) also makes it possible for gold to be melted down and used to cast new molds.

No VAT is payable on the purchase of gold if it has a purity of at least 995/1000. The gold bars purchased from Partner Bank meet this criterion. When selling gold bars, it should also be noted that if they are held for more than one year, any capital gains are exempt from income tax.

Investments in precious metals such as gold are generally a proven capital investment in times of crisis. However, due to the price and exchange rate risk, an investment in gold can also lead to high capital losses.

Partner Bank FINE GOLD meets all internationally recognized quality standards. Gold bars of the highest quality 999.9 Fine Gold, 24 carat with a "Good Delivery" quality guarantee can be purchased from Partner Bank.

Good Delivery bars (standard bars) are gold bars that meet the strict quality requirements of the LBMA. This seal of quality guarantees the embossed or stamped characteristics such as fineness and weight as well as permanent, uninterrupted storage in accepted storage facilities. Bars with Good Delivery status are accepted and traded worldwide.

LBMA stands for "London Bullion Market Association". This organization in the City of London is the most important over-the-counter trading venue for gold and one of the world's most important commodity trading venues, regulates the quality requirements for "Good Delivery" bars and is responsible for setting the price of gold. Only manufacturers who are certified by the LBMA are allowed to produce "Good Delivery" bars.

We offer our clients one-off investments in gold and regular gold investments in the form of pro rata savings plans.

Buy physical gold every month and build up a long-term investment at different market prices.

The cost-average effect describes the effect of spreading an investment over a longer period of time. In this case, more shares are purchased when prices fall and fewer shares are purchased when prices rise, so that the shares are purchased at an average price that is higher than the most favorable price in the period under review, but also lower than the least favorable price. This extends the problem of the correct entry time (timing) over a period of time, which reduces the consequences of timing errors, but at the same time forfeits the advantages of correct timing. This means that the return on the investment is somewhere between that of a one-off investment at the most favorable and least favorable entry point.

You can buy gold from us using a gold purchase order. The purchase will then be processed within six bank working days of the order being accepted.

Yes. 
1. a minimum investment of 2,500 euros applies for a one-off investment. 
2. a minimum investment of 50.00 euros per month applies to a gold savings plan.

You can pay the desired amount into your settlement account by bank transfer, set up a standing order or send us a SEPA direct debit order.

You always hold physical gold with Partner Bank.

The exact nature of the distribution of the gold bars is the responsibility of Partner Bank AG. However, we guarantee that every euro of physical gold is deposited in our vaults.

No, the purchase of fine gold is exempt from VAT.

We buy gold in large quantities, which is why we can offer gold at attractive prices. Details on costs and fees can be found in our conditions sheet.

In general, the measures taken to secure the gold holdings meet the highest security standards.

Yes, your gold bars are insured against burglary, robbery and fire at replacement value. The costs for the insurance are part of the safekeeping fee and are therefore not charged separately. Partner Bank AG cannot accept any liability for delays or damage caused by force majeure. This may include the following events: Natural disasters, labor disputes, war, terrorism, embargoes and measures taken by governments.

We store your gold in high-security vaults located exclusively in Austria. However, the exact storage location is kept secret for security reasons.

You can sell all or part of your gold to us at any time and receive the corresponding cash value in return.

There are basically three ways in which you can obtain your gold.

Sale: Gold is sold for the equivalent value in euros and the proceeds of the sale are paid out to you.

Physical delivery: Collection/handover of the desired amount of gold in gold bars by personal delivery.

Shipment: Delivery of the desired amount of gold in gold bars by insured shipment.

Yes, the minimum order quantity of gold is 50 grams or a multiple thereof. The bar size is determined by the bank.