Q: Can precious metals in one account be transferred to another account?
A: Precious metals in one account cannot be transferred to another account.
Q: How are prices of precious metals quoted?Is it according to the international gold or is it quoted by a local ICBC?
A: In terms of currency denominations, ICBC's precious metal accounts are divided into RMB denominated and USD denomined. Prices are quoted in RMB and the standard trading units as "grams(g)" for RMB denominated precious metals'account. Prices are quoted in U.S.dollars, standard trading units as "ounces(oz)" for USD denominated precious metals'account. ICBC quotes and provides real-time updates in accordance with changes in the market by considering international and domestic(Mainland) market prices of precious metals, amongst other factors.
Q: Which are accounts are useful to precious metals trading?
A: All-In-One Saving Account, Peony Money Link Card and Elite Club Accounts
Q What are the minimum trading amounts per transaction for each type of precious metals trading of different currency denominations? What are the Minimal trading unit increments for each?
A:
| Category |
Minimum trading units |
Spreads for customers |
| USD account Gold |
1 ounce |
>0.01 ounce |
| USD account Silver |
5 ounces |
1 ounce |
| USD account Platinum |
1 ounce |
1 gram |
| RMB account Gold |
10 grams |
1 gram |
| RMB account Silver |
100 grams |
1 gram |
| RMB account Platinum |
10 grams |
1 gram |
Minimum trading units applies to precious metals of each currency denomination.
Q: What are the channels available for account precious metals trading?
A: ICBC teller-counter person-to-person service and E-Banking which you can trade anytime,anywhere.
Q: Is there a 10-second time limit for confirmation for a precious metals trade order on E-Banking?
A: Yes. There a 10-second time limit for confirmation for a precious metals trade order on E-Banking. If the transaction is not successful within the 10-second time limit, you can re-submit the trade order request.
Q: For the sales of physical precious metal products such as the "Ruyi Gold","Year of Rabbit Silver Medal" etc.., customers are able to purchase them over our teller-counter by cash or account debit. Do I need to supply valid ID documents when I make such purchases? Doesthe debit account have to be under my name? Do I receive the products immediately?
A: Customers who are ICBC Macau account holders are only required to carry their ICBC Macau bank card/passbook in-person to our teller-counter. Customers who are non-exsiting ICBC Macau account holders are able to make purchases with cash. Registration of valid ID documents and proof of sources of funds are required if the purchases is over HKD 250,000.00 If a customer is making a purchase by account debiting, it is required that the purchaser and the account holder is the same person under the same name. After-sales delivery of the products is as instructions by the customer. Custodial services are available for purchases of gold products(≧10Kg). Currently, physical precious metal products are in-stock and available from all our branches except the Ferry Terminal branch.
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Q: What Kind of documents do customers need to provide in order to redeem the purchesed physical precious metal products?
A: Customers are required to provide documents of proof and supporting documents such as valid ID docments, the associated certificate of quality of Ruyi Gold Plate, Invoices(if any)when applying for repurchase of their Ruyi Gold Plate.
Q: Can RMB denominated account precious metals be traded throught E-Banking?Do i need to open a corresponding RMB account?
A: Yes. RMB denominated account precious metals can be traded through E-Banking. If you do not have RMB in your account, you are required to exchange your other currencies to RMB before you are able to reade, since RMB denominated account precious metals are traded in grams against the RMB.