Westpac SDB issues

Discussion in 'General Precious Metals Discussion' started by Caput Lupinum, Jun 23, 2015.

  1. Caput Lupinum

    Caput Lupinum Well-Known Member Silver Stacker

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    Anyone have any issues storing your good and plenties with Westpac, specifically between different branches? I'm in the process of moving and had some stored with the current branch without any issue. To my horror, I've been told from the branch where I'm moving to won't accept anything with more weight than 6kgs - OH&S issues apparently. I can and probably will increase my storage with a private vault which will cost a pretty penny more and is roughly 6 hours away from where I live and I f*cking hate Sydney. As far as I know none of the other majors have SDB facilities so my options are limited. I'm both outraged and mortified too. :mad:
     
    Caput Lupinum, Jun 23, 2015
    #1
  2. Phiber

    Phiber Well-Known Member Silver Stacker

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    The woes of physical ... nothing to contribute here unfortunately
     
    Phiber, Jun 23, 2015
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  3. Skyrocket

    Skyrocket Well-Known Member Silver Stacker

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    Drop physical and just stick to hedging and paper PMs country boy.
     
    Skyrocket, Jun 23, 2015
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  4. Stoic Phoenix

    Stoic Phoenix Well-Known Member Silver Stacker

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    You cant get two separate boxes?
     
    Stoic Phoenix, Jun 23, 2015
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  5. Caput Lupinum

    Caput Lupinum Well-Known Member Silver Stacker

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    Not to brag or anything :cool:, but I would need a few more than two. I was keeping roughly in excess of 15kgs in each box I had previously
     
    Caput Lupinum, Jun 23, 2015
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  6. trozau

    trozau Member

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    Maybe you can ask to modify the SDB agreement that you'll personally extract and carry your box from the vault to the private room. All they need to do is open the lock with you. :)
     
    trozau, Jun 23, 2015
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  7. sammysilver

    sammysilver Well-Known Member Silver Stacker

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    Firstly, I would like to add that Sydney hates you back. Secondly, it is possible to get a private box in Sydney, either Guardian or Custodian. Buy your bullion through an affiliated dealer who will arrange to hold your purchases at the vault. When you visit Sydney you take possession of it at the vault and personally store it in your own SDB.
     
    sammysilver, Jun 23, 2015
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  8. Caput Lupinum

    Caput Lupinum Well-Known Member Silver Stacker

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    I'm looking at "alternative" arrangements but will keep your advice in the maybe pile
     
    Caput Lupinum, Jun 23, 2015
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  9. SpacePete

    SpacePete Well-Known Member Silver Stacker

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    Don't hate the playa, hate the game.

    The solution to Caput Lupi's dilemma is to switch to gold (unless he's actually talking about storing 30kg+ of gold rather than silver, in which case he's a total tight arse.)
     
    SpacePete, Jun 23, 2015
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  10. Caput Lupinum

    Caput Lupinum Well-Known Member Silver Stacker

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    Yeah, maybe when silver gets back to roughly $28oz AUD which will be in like never, I'll consider it. I stopped buying generic physical silver due to storage issues and the lack of support in the silver market generally. I'm still buying odds and ends though. I have been doing a lot of squats and deadlifting in the gym lately, so my glutes are somewhat more toned. Thanks for noticing
     
    Caput Lupinum, Jun 23, 2015
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  11. Lunardragon

    Lunardragon Well-Known Member Silver Stacker

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    My friend told me that if you have one box in CBA, they do not allow you to have another one (new rule apparently)...not sure other banks...You are being limited since the demand is high and to be fair to others. Plus the waiting list o get a SDB in a bank is very long.

    Pay a visit to GV or CV will be a worthwhile I guess ....
     
    Lunardragon, Jun 23, 2015
    #11
  12. aleks

    aleks Well-Known Member Silver Stacker

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    one or two contracts should do it.
     
    aleks, Jun 24, 2015
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