Anyone used BullionVault with a Luxembourg-based bank?

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searesponse's picture
searesponse
Status: Bronze Member (Offline)
Joined: Dec 3 2011
Posts: 29
Anyone used BullionVault with a Luxembourg-based bank?

Am opening a new Bullionvault account, and as usual BV need bank statements / screengrabs showing my account number and name. 

However; 

my Luxembourg-based  bank anonymizes their communications to me. 

A woman at the bank told me that under Luxembourg's strict bank privacy rules, it's illegal for them to show my account number/name together or discolose them to any third party. 

is this correct?

If yes, is it actually possible to use a Luxembourg-based bank with Bulliovault?

Thanks 

searesponse's picture
searesponse
Status: Bronze Member (Offline)
Joined: Dec 3 2011
Posts: 29
[ where did the text go ?]

Am opening a new Bullionvault account, and as usual BV need bank statements / screengrabs showing my account number and name. 

However; 

the Luxembourg-based bank anonymizes their communications to me. 

A guy at the bank told me that under Luxembourg's strict bank privacy rules, it's illegal for them to show my account number/name together or discolose them to any third party. 

is this correct?

If yes, is it actually possible to use a Luxembourg-based bank with Bulliovault?

Thanks 

Thinkor's picture
Thinkor
Status: Bronze Member (Offline)
Joined: Sep 13 2009
Posts: 32
Anyone used BULLIONVAULT with a LUXEMBOURG-based bank?

I can't tell you anything about Luxembourg's banking rules, but BullionVault has always responded to my questions promptly.

Explain your difficulty and ask if there is someway of working around the problem.

If they can't or won'thelp you, open an account with another bank and use it solely as a node for transfering funds between BullionVault and your Luxembourg bank.  The only difficulty is a little more complexity.  You will have to do the wires between your node and your Luxembourgh bank in addition to the wires between BullionVault and your node.

searesponse's picture
searesponse
Status: Bronze Member (Offline)
Joined: Dec 3 2011
Posts: 29
Thanks Thinkor

Communication with  Bullionvault solved the problem quickly and easily. 

Over the last 2 years I have them to be excellent to deal with.

suji's picture
suji
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Joined: Dec 4 2011
Posts: 1
Has anyone used BULLIONVAULT with a LUXEMBOURG-based bank?

I am interested to know how they resolved this catch-22 situation. I have a BV account, which I started a few years ago as a place to keep capital. I had about half in gold and half in silver. To begin with I would try and second-guess the market (and I was pleased to anticipate the big crash in silver by a few days). These days, though, I use gold coins, and just leave the silver in there. My concerns are
1 Will financial repression be maintained right up to failure of the money system;
2 Since they insist on everything going through a single bank account what use if any will it be to convert back to a dying currency?
Why did you chose Luxembourg?

searesponse's picture
searesponse
Status: Bronze Member (Offline)
Joined: Dec 3 2011
Posts: 29
(No subject)


searesponse's picture
searesponse
Status: Bronze Member (Offline)
Joined: Dec 3 2011
Posts: 29
[ ANOTHER POST VANISHED -- IS THERE A GLITCH? ]

Hi Suji. 

The problem was solved by me providing copies of paperwork specific to the bank in question.  

A previous employment allowed membership of a private bank in Lux. 

"Since they insist on everything going through a single bank account what use if any will it be to convert back to a dying currency?"

I have wondered about that; it seems to be a good argument for GoldMoney (which allows 5 linked accounts). However, both BV and GM rely on a functioning electronic tranfers/banking system, whcih may not always be a given. 

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