Prove my money is safe

You can confirm that the Via Mat vault bar lists and Lloyds TSB bank statements which BullionVault receives every day match exactly to BullionVault's customer records, and that those records contain your correct balances.

The procedure

Step 1.

If you have forgotten your BullionVault nickname LOGIN , and press ACCOUNT SETTINGS . Your public nickname is on the left of your screen in the preferences panel.

Step 2.

Now LOGOUT and return to the front page.

Step 3.

Press the DAILY AUDIT link on BullionVault's front page.

Now looking at the left side of the screen under the column NICKNAME select the line whose first letter is the same as the first letter of your nickname. For example - if your nickname is MONEYBAGS click on the Ms.

Scroll to your nickname, and confirm your personal balance.

Trades since the reconciliation date are not included until the next DAILY AUDIT. Nor are changes to your nickname.

If all you wanted was a quick check that is all you really need to do.

Notice how this allows you to check your BullionVault holding from any computer without logging in. BullionVault recommends you use this method to check your holding from any computer which is accessible to members of the public.

Step 4.

Checking the BullionVault TOTAL to the statement.

From the column titles simply click either the vault location, or a currency, and you will see a scan of the most recent bar list or statement provided by - respectively - Via Mat or Lloyds TSB Bank.

Confirm the total on the statement matches the total we account for across all BullionVault customers.

On the bar list image the column second from right shows the location. Check the location subtotal against the BullionVault location TOTAL at the top of the gold panel.

Money balances are often placed on a 'Lloyds Treasury' overnight deposit. You can see the evidence of the next day's return of this money by scrolling down the statement image.

Step 5.

Checking BullionVault's arithmetic.

Using your mouse select the grid of figures, from the word 'TOTAL' (upper left) to the bottom-most right-most number in the scrolled panel.

Copy and paste these selected numbers into your preferred spreadsheet - e.g. Microsoft Excel.

Use your spreadsheet's summing function (Σ) to confirm BullionVault arithmetic by adding up the total of the detail lines. Take care to exclude TOTAL and SUBTOTAL lines from the summing function.

Check that your spreadsheet totals are the same as BullionVault's.

Timing excludes today's business ...

BullionVault's records are maintained in real time - so BullionVault knows at any time exactly how much gold and money belong to you. When you look at your ACCOUNT BALANCE or at your HISTORY STATEMENT you will see your real time BullionVault data including any trading, deposits or withdrawals you did today.
However, bank statements and Via Mat bar lists are only received by us at the close of each business day. So this proof is a reconciliation of the latest close-of-business balance. Don't expect to see your current day's business included in your reconciled balance. Perhaps come back to prove that tomorrow, by which time we will have received statements for the close of business today, and generated the figures for all Customer's close of business balances.

The account breakdown

Directly beneath the 'TOTAL' line you'll see a breakdown of where the money is held. Usually it shows the following lines:

Lloyds TSB current - BullionVault clients' segregated funds held in a Lloyds TSB current (or checking) account.
Lloyds TSB treasury - BullionVault clients' segregated funds held on fixed-period deposit with Lloyds TSB.
Unpresented - Withdrawal instructions sent to Lloyds and still in clearing. We process withdrawal instructions within 1 working day, but for certain types of transfer Lloyds may take an additional 4 days for the payment to clear. During those three days the funds have left the clients' BullionVault accounts, but the money is still in the Lloyds TSB bank account, so we adjust for them. This currently only applies to UK domestic withdrawals under £20,000.