Can you buy gold bars from a bank: Comprehensive guide 2025

Can you buy gold bars from a bank? Yes! There are some banks in the U.S, UK, China, Germany, France, and other states where you can buy gold bars in the banks.

While it is possible to buy gold and other metals from banks, it should be noted that the practice is not common. This means you can take up the next options, including buying via a reputable gold dealer.

Which Banks Sell Gold Bars. List of major banks worldwide

Here’s a useful list of major banks worldwide that sell gold bars to retail and institutional investors:

Major Banks That Sell Gold Bars in ech country:

Switzerland

UBS (Union Bank of Switzerland) — One of the largest gold retailers globally.
Credit Suisse (now part of UBS) — Famous for their own branded gold bars.
Julius Baer — Offers bullion and precious metals accounts.

United Kingdom

HSBC — A leading bullion bank, sells gold bars to clients and provides storage.
Barclays — Offers precious metals investment options for high-net-worth clients.

United States

Wells Fargo Private Bank — Provides precious metal services to select clients.
Citibank (Private Banking) — Helps arrange gold purchases for ultra-wealthy clients.
(Note: In the U.S., most gold purchases are through dealers rather than banks.)

Germany

Commerzbank — Supplies gold bars and coins to customers.
Deutsche Bank — Has historically offered precious metal investments.

United Arab Emirates

Emirates NBD — Offers gold bars and coins to retail customers.
Mashreq Bank — Sells bullion products through select branches.

India

ICICI Bank — Sells gold bars and coins at branches and online.
HDFC Bank — Offers gold bars in various weights to customers.
Axis Bank — Provides gold coins and bars through their branches.

South Africa

First National Bank (FNB) — Lets clients buy Krugerrands and gold bars.
Absa Bank — Offers precious metal investments through its trading desk.

Singapore

OCBC Bank — Sells gold bars and offers gold savings accounts.
UOB (United Overseas Bank) — A major gold dealer with retail gold bars.

Notes:

Not all banks sell gold directly to walk-in customers; some require you to be an account holder or private banking client.
In many countries (like the U.S. and U.K.), banks have moved out of retail bullion sales, and specialized dealers or mints are more common.

How to Buy Gold Bars From a Bank Step-by-Step

Step 1: Check if the Bank Sells Gold

Not all banks sell gold bars, so start by calling or visiting the bank’s website. Some only sell to account holders or high-net-worth clients, and availability may vary by country.

Step 2: Meet Account & ID Requirements

Most banks require you to:

Have an active savings or current account at the bank.
Provide valid identification documents — usually a passport or national ID.
Complete FATCA or anti-money laundering (AML) forms if applicable.

Some banks (like in Switzerland or UAE) allow non-clients to buy gold, but expect more paperwork.

Step 3: Choose a Payment Method

Banks usually accept:

Bank transfer (most common and safest).
Cash (limited in some countries due to AML rules).
Debit card (sometimes accepted).
Credit cards are generally not accepted for bullion purchases.

Confirm the payment deadline and currency if buying from a foreign bank.

Step 4: Decide In-Person or Online

In-Person: Visit a branch that handles gold sales, where you can see the bars, sign documents, and pay.
Online: Some banks (e.g., UBS, ICICI, UOB) allow you to order gold bars through their online banking portal. You can choose delivery to your address or arrange pickup at the branch.

Step 5: Collect or Store

After payment, you can:

Take possession of the gold bar (bring a secure container).
Or, pay for bank vault storage, which is safer for large amounts.’

What Types of Gold Bars Can You Get From a Bank?

Common Sizes and Weights Offered

Banks usually offer standard gold bar sizes, designed for both small and large investors. Common weights include 1 gram, 10 grams, 20 grams, 50 grams, 100 grams, 250 grams, 500 grams, and 1 kilogram.

The most popular sizes for retail buyers are 10g, 100g, and 1 oz (31.1g), balancing affordability and liquidity. Larger bars (like 1kg) come with lower premiums per gram but are harder to sell in parts.

Fractional bars (below 1 oz) may cost more per gram due to higher manufacturing costs but are ideal for flexible, incremental investing.

Brands and Refineries Banks Work With

Most banks source gold bars from reputable, globally recognized refiners. Examples include PAMP Suisse, Valcambi, Credit Suisse, Heraeus, and Argor-Heraeus, all of which are LBMA (London Bullion Market Association) approved.

These bars come with hallmarks, unique serial numbers, and certificates of authenticity, ensuring trust and ease of resale. Some banks (like Credit Suisse) even offer their own branded bars minted by partner refineries.

The brands and refiners a bank offers may depend on its geographic location and partnerships, but they usually stick with the most trusted names in the industry.

Difference Between Bullion and Commemorative Bars

Bullion gold bars are simple, pure gold products designed purely for investment, valued based on their weight and purity, and traded close to the spot price of gold. They are ideal for investors looking for efficient, cost-effective ways to own gold.
Commemorative bars, on the other hand, are specially designed with unique engravings, limited editions, or themes celebrating events or figures. These can carry a higher premium due to their collectible appeal, artistic design, or rarity. Banks generally focus on bullion bars but may occasionally offer commemorative bars for collectors.

How Much Do Gold Bars Cost at a Bank?

Spot Price vs. Premium Explained

The spot price is the live market price of gold per ounce or gram at any given moment. Banks — like dealers — sell gold bars above this price, adding a premium to cover minting, handling, and profit.

For example, if the spot price is $2,000/oz and the bank’s premium is 5%, you’d pay $2,100/oz. Premiums vary depending on bar size (smaller bars usually have higher premiums), brand, and market demand.

Always check the live spot price before buying to understand what portion of the price you’re paying as premium.

Why Banks Charge More Than Dealers

Banks tend to charge higher premiums than specialized bullion dealers because they have higher operating costs, stricter regulatory compliance, and offer added services like secure storage and guaranteed authenticity.

Additionally, banks may not focus heavily on gold sales as a core business, so their margins are less competitive. They also often limit product variety, which can drive up demand and prices for the few options they offer.

Essentially, you’re paying more for the trust, convenience, and service quality associated with a reputable financial institution.

How to Compare Prices

To get the best deal, always compare a bank’s gold bar prices against reputable bullion dealers and online platforms. Look at:

Premium percentage over the spot price.
Bar size and weight (larger bars have lower premiums per gram).
Brand or refinery — some carry higher premiums due to recognition.
Additional services included, like storage or insurance.
Check if the price quoted includes taxes, fees, and delivery. Comparing prices across at least three sources ensures you’re paying a fair rate for your gold investment.

Which bank is the best for buying gold?

HDFC Bank is notably one of the best banks to buy gold. It is approved, making it the right source for you to purchase your gold.

Advantages of Buying Gold Bars From a Bank

Guaranteed Authenticity and Security

Banks source gold bars directly from reputable mints and refineries, ensuring they’re genuine, properly weighted, and of certified purity. You receive bars with official hallmarks, serial numbers, and sometimes certificates of authenticity.

This eliminates the risk of counterfeits, which is higher when buying from unverified dealers. Banks also handle transactions securely, following strict regulations to protect both the gold and your money.

For many investors, the trust and transparency of a bank purchase outweigh slightly higher premiums, making it an attractive and safe option for acquiring physical gold.

Convenience and Storage Options

Buying gold from a bank is convenient, especially if you already have an account with them. Many banks offer both in-person and online purchase options, with clear procedures and transparent pricing.

Additionally, banks can store your gold in their vaults or offer you a safe deposit box for a fee, sparing you the stress of securing it at home.

This professional storage reduces the risk of loss, theft, or damage and can include insurance. Having everything — purchase, payment, and storage — in one place adds to the overall convenience.

Peace of Mind for First-Time Investors

For beginners in gold investing, banks provide a trustworthy, low-risk environment to make their first purchase. Staff can guide you through the process, explain the types of gold bars available, and answer your questions.

Unlike dealing with private sellers, there’s less fear of being scammed or overcharged. Banks also handle all the necessary paperwork and comply with legal requirements, making the transaction seamless and compliant.

This peace of mind is especially valuable for those unfamiliar with the gold market who want a secure and straightforward investment experience.

Disadvantages of Buying Gold Bars From a Bank

Higher Premiums Than Dealers

Banks often charge higher premiums over the gold spot price compared to specialized bullion dealers. This is because banks have higher operational costs, stricter regulations, and sometimes bundle the purchase with storage or insurance services.

The premium can be significant, especially for smaller bar sizes or in countries where banks have limited competition in gold sales.

For cost-conscious investors looking to maximize the amount of gold per dollar, buying directly from a reputable dealer or mint may offer better value with lower markups and more competitive rates.

Limited Size, Design, and Quantity

Banks typically offer a narrow selection of gold bar sizes — often just standard weights like 1 oz, 100g, or 1kg. Rare designs, specialty bars, or smaller fractional bars may not be available.

Likewise, banks usually only stock products from one or two refiners they partner with, limiting brand variety. Additionally, some banks restrict how much you can buy at once, particularly if they don’t have large inventories on hand.

This lack of flexibility can frustrate investors looking for unique, collectible, or unconventional products in specific quantities or designs.

Restricted Countries and Banking Hours

Not all banks worldwide sell gold bars — availability is limited to certain countries like Switzerland, UAE, India, and South Africa. In many places (including the U.S. and U.K.), banks have stopped offering retail gold sales entirely.

Even in countries where it’s available, you’re limited to banking hours, which may not be convenient compared to 24/7 online dealers.

During holidays or economic crises, banks may also suspend sales or impose rationing. This can make access less flexible and less responsive to real-time market opportunities than alternative sources.

Talk to an Expert about Buying Gold Bars from a Bank; +256 707 585144.

Best gold products that you can own

Gold bars –these contain the highest percentage of pure gold.
Coins
Jewelry

Can I Buy Gold Bars at Bank in Uganda?

In Uganda, Bank of Uganda no longer offers this service. But you can buy it via a reputable gold dealer/company in Kampala. You can do this safely and conveniently with us. Talk to our company representatives for quick response and guidance.

In summary, most physical bank branches worldwide don’t have gold. The most convenient way to buy gold today is dealing with reputable online retailer/wholesalers such as us. Before you make up your mind to buy gold or any metal, first, you should reach out to our representative. We are available 24/7 to enable you obtain your precious metal.

Do You Pay Tax When Buying Gold Bars From a Bank?

In many countries, Value Added Tax (VAT) does not apply to investment-grade gold bars (e.g., 99.5%+ pure), as they’re classified as financial assets, not goods.

This is true in the EU, UAE, and South Africa, but some countries (like India) still charge VAT or GST. Always confirm your country’s rules before buying.

When selling gold bars, profits may be subject to capital gains tax (CGT) if the sale price exceeds what you paid. Keeping detailed purchase receipts and dates helps calculate taxable gains accurately and avoid legal issues.

Can You Store Your Gold Bars at the Bank?

Yes — most banks offer storage options:

Safe Deposit Boxes: You rent a box in the vault and control access. The bank doesn’t know what you store inside.
Allocated Storage: The bank stores your gold in a segregated account under your name; you own specific bars.

Pros: High security, insurance options, peace of mind.
Cons: Annual fees, limited access to your gold (banking hours), and possible delays in emergencies.
For large investments or collectors, bank vaults are a safe and reliable choice compared to home storage.

Alternatives to Buying Gold Bars From a Bank

If banks don’t meet your needs, alternatives include:

Bullion Dealers: Often lower premiums, wider selection, and more expertise in precious metals.
Government Mints: Like the US Mint or South African Mint — trusted sources with competitive pricing.
Online Platforms: At Buy Gold Bars Africa Ltd, we let you buy, and even store gold securely.

Let’s Help you on how to Buy Gold Bars from a Bank;

FAQs about Buying Gold Bars from a Bank;

1. Can I buy gold directly from the bank?
Yes, many banks offer gold for sale in the form of bars, coins, or certificates. However, not all banks provide this service, so it’s best to check with your bank in advance.

2. What types of gold can I buy from a bank?
Banks typically sell:

Gold bars: Available in various weights and purity levels.
Gold coins: Officially minted coins for investment purposes.
Gold certificates: Represent ownership of a specific quantity of gold held by the bank.

3. Is gold bought from a bank more expensive?
Yes, gold purchased from a bank is often priced higher than from private dealers due to added security, authenticity guarantees, and administrative fees.

4. Do banks sell gold of guaranteed purity?
Yes, gold sold by banks usually comes with an assay certificate, guaranteeing its purity and authenticity, typically ranging from 99.9% to 99.99%.

5. Can I buy gold from a bank without an account?
Some banks allow non-account holders to purchase gold, but it depends on the bank’s policies. Account holders may receive additional benefits such as easier transactions and storage options.

6. How is gold purchased from the bank delivered?
Gold can either be:

Physically collected at the bank branch.
Stored securely in a bank deposit box for an additional fee.
Delivered to your address, depending on the bank’s policies.

7. Is buying gold from the bank a good investment?
Yes, it is considered a safe investment due to assured quality, but it is crucial to compare prices with market rates to ensure you are getting the best value.

8. Do banks buy back gold if I want to sell it later?
Some banks have buy-back policies, while others do not. It’s advisable to check the bank’s terms and conditions regarding gold resale before purchasing.

9. What documents are required to buy gold from the bank?
Most banks require:

A valid government-issued ID (passport, national ID).
Proof of funds or source of income (in some cases).
A completed purchase agreement form.

10. Can I buy gold in installments from the bank?
Certain banks offer installment or financing plans for gold purchases, but this depends on the bank’s financial products and policies.

11. How do I verify the authenticity of the gold bought from a bank?
Banks provide gold with certification from accredited refineries and serial numbers that can be verified for authenticity.

12. Are there taxes on gold purchases from banks?
Depending on the country, buying gold from a bank may attract value-added tax (VAT) or other applicable duties. Always check local tax regulations.

13. Can I store my gold in the bank after purchase?
Yes, most banks offer safe deposit boxes where you can securely store your gold for a fee.

14. What is the minimum and maximum quantity of gold I can buy from a bank?
Minimum and maximum purchase limits vary by bank, with some offering small gold coins while others cater to bulk investors purchasing kilograms.

15. Can I buy gold online from a bank?
Many banks provide online platforms for gold purchases, allowing customers to buy and track their investment digitally.

Can I buy a gold bar from the bank?

Yes, many banks offer the option to buy gold bars at Bank. They often have specialized departments or services that facilitate the buying and selling of precious metals like gold.

Which bank is best for buying gold?

The best bank for buying gold depends on various factors including reputation, accessibility, pricing, and services offered. It’s recommended to research and compare different banks in your region to determine which one aligns with your preferences and requirements or, contact us.

What is the best way to buy gold bars?

The best way to buy gold bars is to start by researching reputable banks, gold dealers, or authorized vendors that offer gold bars for sale. Compare prices, purity, buy-back policies. It’s also advisable to consult with financial experts before making a significant investment in precious metals.

Can I buy gold bars with cash?

Yes, some banks and dealers may accept cash as a form of payment for purchasing gold bars.