How can I be sure my bullion is safe with New Zealand Vault?
New Zealand Vault has been providing New Zealander's peace of mind since 1931. When the trading banks decided to exit the safety deposit market, after careful due diligence they each independently chose New Zealand Vault to take over their safety deposit services.
Our Wellington vaults, where offshore bullion will be held have been built to the highest standards (Treasury Grade), and fitted with the most sophisticated multi-level electronic protection available. Our vaults are monitored 24/7 to provide you complete peace of mind.
New Zealand Vault has partnered with international accountancy firm Grant Thornton NZ, based in New Zealand, to act on behalf of the client by: checking that the bullion received matches what the client ordered; together with the New Zealand Vault custodian they will deposit that bullion into the clients’ safety deposit box or within a safe; holding the box key or safe code in their own safety deposit box; and finally writing to the client to confirm that the bullion has been verified and placed into the clients safety deposit box or into a safe within the bullion depository.
Each safety deposit box has a two key system; 1 held by New Zealand Vault and 1 held by Grant Thornton New Zealand. Both keys are required in order to open the safety deposit box. New Zealand Vault cannot access the clients’ safety deposit box without the key held by Grant Thornton and Grant Thornton cannot access it without the New Zealand Vault’s key.
The Bullion Depository works on a two code system; 1 held by New Zealand Vault and 1 held by Grant Thornton New Zealand. Both codes are required in order to open the safe. New Zealand Vault will not access the clients’ bullion holding without the code held by Grant Thornton and Grant Thornton cannot access it without the New Zealand Vault code.
Both New Zealand Vault and Grant Thornton New Zealand will act only on customers written instructions.
If clients are ever in New Zealand they are most welcome to come to our Wellington vault and view their bullion. However, because we will need to have the Grant Thornton New Zealand representative also open the box or safe to remove the bullion, we ask that we have 24 hours notice so that we can arrange for them to be there to meet you.
For clients storing in the safety deposit box vault and wanting insurance on their bullion while it is in storage, please contact us. For clients storing in the bullion depository, their bullion is insured and the cost is covered by the storage fee.