Our response to frequently asked questions
In our Frequently Asked Questions (FAQ) section, we answer common questions we often receive about topics such as: storage, warehouse receipts, insurance, data security and fees. We also explain a number of important technical terms to help promote a clearer understanding of the services we can offer.
Storage in general
Types of storage, storable products, storage locations, insurance, etc.
In principle, you can store any precious metals such as gold, silver, platinum and palladium. Up to 10 items of the same type of metal and denomination can be stored per individual warehouse receipt. Coins stored in master boxes are an exception. Here you will receive a warehouse receipt for the total amount in storage: For example 500 x 1 oz Vienna Philharmonic.
Under this special arrangement, OrSuisse will store your precious metals separately. Bar numbers or seal numbers (coins) will be noted on your warehouse receipt. So upon retrieval you will receive back the specific product which you asked us to store. OrSuisse storage always include individual custody arrangements, and your bar or seal numbers will always be recorded on your warehouse receipt.
Yes. You will retain direct ownership of your stored precious metals for the entire duration of the storage. Neither OrSuisse nor the warehouse operator have any claim or entitlement to the goods stored. Your holdings will not become company assets. They are not on OrSuisse’s balance sheet.
Delivery to OrSuisse for storage purposes can be undertaken by you personally, by an armoured transport company, or delivered on your behalf by another person acting on your authority. This means your precious metals must be delivered direct to a high-security warehouse. There are no interim handovers at any OrSuisse offices. When purchasing precious metals for the first time, or adding to your existing holdings, you can make delivery arrangements via the respective dealer.
OrSuisse will store your precious metals in high-security vaults located at secure, guarded sites in Switzerland and Singapore. You can find an overview of our storage facilities and fees here.
Yes. All precious metals stored at OrSuisse are fully insured under what is known as a “Full Risk Insurance”. The cost of insurance is already included in our storage fee.
The renowned Swiss auditing company BDO checks the entire OrSuisse vault inventory twice each year. Their audits provide detailed information about the quantities and denominations of the precious metals stored, and also verify that this data matches the corresponding warehouse receipts issued.
Storage / retrieval
Authenticity of precious metals, smooth delivery, credits, etc.
Whenever precious metals are stored, OrSuisse carries out an authenticity check using the latest ultrasound technology. This is the only way we can absolutely guarantee that only authentic precious metals are passed on to our clients each time they are retrieved.
You can retrieve your precious metals directly at the storage location. OrSuisse will provide you with details of the precise location.
Your right to a return ‘in rem’ means you are entitled to demand the return of your precious metals at any time. The only preconditions for this are a complete endorsement chain and the integrity of the warehouse receipt.
You can retrieve your stored holdings at any time. Simply contact us to make the necessary arrangements. For a retrieval we need:
- The store-out form,
- The warehouse receipt with a complete sequence of endorsements,
- The last endorsement must be in your name,
- Valid ID documentation.
Upon retrieval, OrSuisse will reimburse you for storage fees for any remaining unused complete years. After the retrieval has been completed, you will receive a credit on your account within 10 days. Your credit entitlement for the balance of storage fees will be calculated using the market price (in gold/silver grams) applied at the time of the reimbursement.
Yes. Because OrSuisse uses ultrasound technology to check the authenticity of all precious metals whenever they are deposited. We therefore guarantee you will always receive real precious metals upon retrieval, and all bars will originate from LBMA-certified refiners.
Relocation / exchange / extension
Exchange of warehouse receipts, fees, stock transfer costs, etc.
Yes. You can move your precious metals between all depositories at any time. This requires an exchange of the warehouse receipt, because the new storage location must be noted on the document. You can simply contact us to request a transfer.
The extension itself is free of charge. You will only pay for the storage fees involved.
No. An extension can take place without the need to return your warehouse receipts to OrSuisse. After payment of the relevant storage fees, evidence of the agreed extension can then be viewed on our website.
Since the details of each individual relocation will always vary, there is no general fee list. If you wish to relocate your precious metals, OrSuisse will contact an armoured transport company. We can only quantify the costs once their quote is available. We will then arrange the relocation after you have given your approval.
Your data at OrSuisse
Data collection, data security, discretion, bankruptcy, etc.
No, because Swiss law does not require storage companies to be subject to financial market supervision.
As a storage company, OrSuisse is obliged to record client data as part of the storage/retrieval process and in respect of the exchange of warehouse receipts. OrSuisse goes to great lengths to protect your personal data, using methods which go far beyond regulatory security measures. All data is entirely encrypted and exclusively stored within high-security server centres in Switzerland.
OrSuisse is obliged to record the name and address of each respective depositor when storing/retrieving or exchanging a warehouse receipt. This information must also be validated using a copy of the relevant ID documentation.
As a matter of principle, OrSuisse does not report any data held to government agencies or to any other institutions. One exception to this occurs with storage in a duty-free warehouse: Here, we are obliged to report owner details to the customs authority, but no data of any kind is subsequently transmitted to a foreign country. The transfer of a warehouse receipt will only be recorded by us if you expressly request this should occur and then notify us accordingly. This data is also stored securely and exclusively at OrSuisse. This arrangement gives clients robust data protection with maximum discretion.
During any emergency, OrSuisse can operate independently of technical transmission channels (IT, telephone, fax, etc.). Thus, OrSuisse can remain almost permanently operational.
All precious metals always remain the property of the client and do not become part of the OrSuisse company balance sheet. So, in the unlikely event of a bankruptcy, your assets will not be affected and will not become part of the company’s bankruptcy assets. At all times, you also retain a claim for in rem restitution to the bankruptcy trustee.
No, there is no counterparty risk. Because the stored precious metals at no time ever become part of the OrSuisse balance sheet, or that of any respective warehouse operator.
Warehouse receipts / negotiable warehouse receipts
Significance, transferability, validity, protection against forgery, etc.
At OrSuisse, you will receive warehouse receipts for your deposited precious metals. According to the Swiss Code of Obligations (Schweizerisches Obligationenrecht), these documents qualify as securities which guarantee the return of the stored goods they describe. This means they can be freely traded. In addition, negotiable warehouse receipts are not regarded as marketable securities in Switzerland, which means that they are actually exempt from Swiss stamp duty. (Please note this information does not constitute a legally binding statement for other countries.)
Up to 10 items of the same metal and denomination can be stored under any one individual warehouse receipt.
OrSuisse warehouse receipts are freely tradable. They can be sold anywhere and at any time to natural persons or legal entities, such as precious metal dealers or banks for example. Negotiable warehouse receipts can also be transferred to a new owner by endorsement. There are six endorsement fields on each warehouse receipt. We recommend reporting all warehouse receipt transfers to OrSuisse, but there is no obligation to do this.
Clients can request a warehouse receipt exchange at any time. Exchanges can take place in person or can be completed by post.
OrSuisse warehouse receipts are negotiable documents as long as they have not been blank endorsed. When crossing any border, please always observe all applicable laws and regulations. You can always obtain authoritative information from the appropriate customs office responsible for your country. We recommend that you make all relevant inquiries well in advance.
Your warehouse receipt will still remain valid. However, you will of course need to extend the storage period for your precious metals. In the event of any such extension, you will be retrospectively charged a pro rata storage fee. If this period is in excess of 90 days, then a late payment surcharge will also be applied.
If a warehouse receipt is lost, or is destroyed or severely damaged (for example, by fire or water), then a declaration of invalidity must be made before a Swiss court. Once this procedure has been completed, OrSuisse will issue a new warehouse receipt. Your right of ownership to your deposited precious metals remains unaffected and will be deemed to continue in force throughout the declaration process.
OrSuisse places the highest demand on the security printing of negotiable warehouse receipts. We trust in the security standards of the Giesecke & Devrient printing company, who are also used for the printing of banknotes. In addition, warehouse receipts are subject to a detailed OrSuisse check before every retrieval. We have specialist test equipment used for this purpose. Important: Each warehouse receipt has a unique serial number which is only ever used once.
Invoices and fees
Overview of fees, prices, payment methods, VAT, prepayment, etc.
You can download a PDF here which gives an overview of our current fees.
Storage fees are calculated at the current precious metal price at the time of invoicing.
Storage fees can be paid in various ways: by bank transfer (via a CHF account in Switzerland, or via an EUR account in the EU), in cash on site, or by paying in at any Swiss post office. You do not need to have a bank account in Switzerland. In addition, we also accept payment in Bitcoin, Ether or Stablecoins.
OrSuisse will only calculate Swiss VAT for clients from Switzerland and the Principality of Liechtenstein. Clients from other countries do not have to pay VAT at OrSuisse.
If the storage fees are prepaid in advance, the number of years is then multiplied by the current applicable storage-fee rate. For example, if you pay storage fees for three years in advance at 0.6%, you will be charged 1.8% – effectively a fixed price invoiced at the current rate. Upon retrieval, your storage fees for all complete unexpired years will be reimbursed.
If warehouse receipts are damaged, destroyed or lost when they are sent by OrSuisse, the insurance will cover all restoration costs such as invalidation, blocking procedures, authentication and replacement or reissuing.
Explanation of technical terms
Securities, fungibility, lot size, collateral, etc.
Marketable securities (Swiss: “Effekten”) are fungible and tradable securities on the capital market. Banknotes, checks, bills of exchange and OrSuisse negotiable warehouse receipts (according to a ruling by the Swiss Federal Tax Administration) are not included in the definition. However, according to the Swiss Code of Obligations (Schweizerisches Obligationenrecht), OrSuisse’s negotiable warehouse receipts still qualify as securities (Swiss: “Wertpapiere”).
Fungibility describes any interchangeability of goods or securities within the same class, which can be determined by a number, a unit of measure, or a unit of weight. Negotiable warehouse receipts from OrSuisse simply make your stored precious metals even easier to trade.
An endorsement is a transfer notification on the back of an OrSuisse negotiable warehouse receipt. This can be used to transfer the rights attaching to that warehouse receipt to a new beneficiary.
Compliance means acknowledging and following laws, guidelines, internal company policies and directives. At OrSuisse, compliance is guaranteed by the strict legal framework for warehousing goods and issuing securities (in accordance with the Swiss Code of Obligations) as well as through self-imposed external standards (ISAE 3402).
A lot size is a clearly defined unit or denomination, such as a gold bar which weighs exactly 100 grams, or a silver coin which weighs one troy ounce.
Assets deposited in respect of loan finance are referred to as collateral. Collateral thus represents security for borrowers and lenders alike.