Policy

Storage Policy

Terms governing the BuySilverMalaysia Storage Program (BSP) - segregated, allocated storage for your precious metals.

Introduction

BuySilverMalaysia.com ("BSM") is the entity providing the BuySilverMalaysia Storage Program ("BSP").
Silver and gold bullion is specifically sealed and uniquely identified in tamper-proof bags, referred to as a "parcel".
BSP is a program that allows you to purchase precious metals from BSM and have them stored on a segregated and allocated basis (i.e. where you have title to specific coins/bars) in highly secure storage facilities.

To open a BSP account, call +603-8080 9388 or email admin@bsm.my to inquire about the program.
Submit a photocopy of the front and back of your Malaysian IC (MyKad) or passport for identification purposes.
There is no minimum purchase required to join BSP - you can start with as little as 1 oz of precious metals, though a minimum fee applies.

Precious metals held in BSP are stored in highly secure facilities located in Malaysia. All gold and silver in your account remain your property at all times - BSM ensures they are specifically identified (allocated) and physically separated (segregated) from any holdings belonging to other individuals, entities, or BSM itself.
Your gold and silver are stored in formally recognized bullion storage facilities, managed by specialist vault operators who are leading providers of precious metal vault services and secure transportation.
Only gold and silver purchased from BSM are eligible for storage in BSP, unless expressly approved by BSM.
Your gold and silver stored with BSP are fully insured at no additional cost.
While we take measures to prevent tarnishing of silver, we do not guarantee against it.
For security purposes, BSM does not allow visits to storage facilities to view BSP account holdings. We can, however, arrange a viewing of your holdings at our office for a fee - the first viewing is complimentary if requested within 30 days of opening your BSP account.
You can access your BSP account details by logging into your BSM user account, including viewing the parcels and quantities stored.
Please contact us in advance, as storage space for this service is limited.

The fee structure for BSP is as follows:

An administration fee of RM 100.00 (one-time) is charged for a customer's first BSP storage program - subsequent programs won't incur this fee.
Customers can view their parcel for free once within 30 days of opening a BSP account. Subsequent viewings, or viewings after 30 days, are charged RM 100 each.
There is a minimum storage fee of RM 200.00 per parcel. If the calculated fee for a period is less than RM 200.00, the minimum applies.
BSM reserves the right to revise the fee structure without prior notification.

Example fee calculation:

Item	Weight	Duration	Storage Fee	Total
2× PAMP Suisse 100g Gold Bar	200 gram	30 Days	RM 3.00/gram	RM 600.00
1× Royal Canadian Mint 10oz Silver Bar	10 oz	1 Year	RM 3.50/oz	RM 35.00 (min RM200.00)
6× Scottsdale Silver 10oz Stacker	60 oz	1 Year	RM 3.50/oz	RM 210.00
5× PAMP Suisse Kilo Silver	160.75 oz	1 Year	RM 3.50/oz	RM 562.62

Your BSP account includes a detailed description of each parcel you own, along with a parcel photo clearly showing the seal number, contents and weight.
Each parcel has a unique identification, with details stated clearly in your account. You can download and print a hardcopy for personal reference and safekeeping.
You can request to physically view your parcels for free once within 30 days of opening your BSP account. Subsequent viewings, or viewings after 30 days, incur a RM 100.00 fee per viewing.
All physical viewings are conducted at the BSM office during office hours only, with at least 3 days' notice via the BSP Viewing Application Form.

You will receive sufficient notice before the end of your BSP contract period, at which point you may terminate or renew using your most recent contact information.
If no response is received after the contract period expires, the parcel will be removed from BSP. You then have 30 days to claim it - after which its contents will be liquidated at the prevailing market price. Proceeds first settle any outstanding amounts owed to BSM, with any remaining balance donated to charity at BSM's discretion.

You may withdraw your parcels at any time, provided at least 3 days' notice is given.
To withdraw or terminate your BSP account, complete the BSP Withdrawal Form and send it to us. We respond within 1 working day, and you can expect your parcel within 5 working days.
Once your form is received, we will call to confirm your withdrawal instructions.
The BSP contract terminates once the parcel is withdrawn.
On the stipulated withdrawal date, BSM will dispatch your silver and gold to you, or release them to your designated carrier if you've arranged your own transportation.
You will be required to sign and acknowledge a written receipt for the silver and gold delivered to you.
Silver and gold products cannot be re-deposited into your BSP account once withdrawn.
You may sell your silver and gold to BSM at a preferred rate through our Buy Back Program.