How to buy gold online and pay by bank transfer: a step-by-step guide
Buying physical gold online takes a few minutes from choosing a coin to placing your order, and a bank transfer then completes it. This guide walks through each step, which currency to pay in, how VAT works and what to check before you pay.
The short answer
To buy gold online, you choose a coin or bar, pick the currency you want to pay in, and lock a price. You confirm your order while the price is held, then pay by bank transfer, quoting your order number. Once the payment reaches us, the gold is packed and sent to you by insured courier.
The rest of this guide explains each step, which currency and type of transfer to use, and the VAT, identity and safety points worth knowing before you buy.
Why people buy physical gold
People buy gold for different reasons. Some want part of their savings in an asset that isn't a promise from a bank or a company. Others like owning something they can hold in their hand, or want to spread their savings across different kinds of asset.
Gold has drawbacks too. Physical metal has to be stored and insured, you pay a premium above the market price when you buy, and its price can fall as well as rise. This guide explains how buying works; it isn't investment advice.
What you need before you start
- A bank account in your own name. Payment has to come from an account held in your name (or your business's name, if you are buying for a business). Payments from anyone else are returned.
- An account with us. You'll need your full name, delivery address, email address and phone number. The name and address must match the person receiving the parcel, because insured deliveries need a signature.
- Your bank's transfer limit. Many banks limit how much you can send online in a day. Check yours before you order, so the payment isn't held up.
- For larger purchases, your ID. If your purchases reach €5,000 within 12 months, you'll be asked to verify your identity first. See identity checks below.
Step by step: buying gold on CC Holdings
- Choose your gold. Browse coins and bars on the shop page or start with the gold price chart. Each product page shows the weight, the purity and the premium over the market price.
- Pick your currency and delivery country. Prices are shown live in six currencies: pounds sterling, euros, US dollars, Swiss francs, Canadian dollars and UAE dirhams. Your delivery country sets any VAT, which is included in the price shown.
- Add to your basket and sign in. If you don't have an account yet, registering takes a minute. Your delivery address is saved for next time.
- Lock your price. When you check out, your total is fixed for 10 minutes. Metal prices and exchange rates keep moving, so this protects you from changes while you check your order.
- Place your order. Confirm the order while the price is locked. You'll see the bank details and your payment reference straight away, and we email you a pro-forma invoice with the same details.
- Pay by bank transfer. Send the exact amount from your own account within 2 days, quoting your order number as the payment reference.
- Receive your gold. Once the payment reaches us, we email your invoice and send your order insured. It needs a signature on delivery, and you can follow its status and tracking in your account.
Which currency and transfer should you use?
The same gold costs the same in every currency at today's exchange rate. What differs is how your bank handles the payment and what it charges.
| Currency | Usual transfer | Things to know |
|---|---|---|
| Euro (EUR) | SEPA credit transfer | Usually free or cheap within Europe. SEPA Instant arrives in seconds if both banks offer it; a standard transfer takes about one working day. |
| Pound sterling (GBP) | UK Faster Payments | Usually arrives within minutes from a UK bank account. Larger amounts may go by CHAPS, which banks often charge for. |
| Swiss franc (CHF) | SWIFT international transfer | Often takes one to three working days, and both banks may charge fees. |
| US dollar (USD) | SWIFT international transfer | Often takes one to three working days, and both banks may charge fees. |
| Canadian dollar (CAD) | SWIFT international transfer | Often takes one to three working days, and both banks may charge fees. |
| UAE dirham (AED) | SWIFT international transfer | Often takes one to three working days, and both banks may charge fees. |
Paying in the currency your account is held in avoids your bank's conversion fees, which can be higher than you expect. Card payments aren't offered at the moment.
Coins or bars?
Both contain the same metal; the difference is mainly the premium and how easy they are to resell.
- Bars usually carry the lowest premium per gram, and the premium falls as the bar gets bigger. Our 1 oz gold bar, the largest we sell, has the lowest premium in the gold range.
- Coins such as the Britannia or the Krugerrand cost a little more but are recognised by dealers worldwide.
- Small pieces such as the full sovereign or 1 g to 20 g bars let you buy gold in smaller amounts, at a higher premium per gram.
Gold bar 20 g
Identity checks for larger purchases
Dealers in precious metals have to follow anti-money-laundering rules. On CC Holdings, you'll be asked to verify your identity once your paid orders within 12 months reach €5,000, whether in one order or several.
Verification is done once, in your account. You'll be asked for:
- a government-issued photo ID, such as a passport or national identity card
- proof of address
- a few questions about the source of your funds and the bank account you'll pay from
- a signed declaration
For high-value or higher-risk transactions, we may also ask for proof of the source of funds. Your documents are stored encrypted. You can read more in our AML policy.
VAT and tax: check before you buy
Investment gold is exempt from VAT in the United Kingdom and the European Union, while silver, platinum and palladium are normally subject to VAT. Deliveries to Switzerland, the US, Canada and the UAE are exports, so no UK or EU VAT is charged, but you may have to pay import taxes or duties on delivery. Every price on the site already includes any VAT due for your delivery country, and your basket and invoices show it separately.
If you decide to sell later, CC Holdings buys back gold, silver, platinum and palladium coins and bars at 97% of the live spot value of their fine metal content, with no fees or commission: request a quote on our Sell to us page. Selling gold can also have tax consequences, which differ from country to country. This guide can't give tax advice, so please check with a qualified tax adviser where you live.
Staying safe when you pay
- Only pay to the bank details shown on your order page and pro-forma invoice. We will never send you new bank details by email, phone or messaging apps. If you receive a message saying our bank details have changed, contact us before you pay.
- Always quote your order number as the payment reference.
- We will never ask for your online banking password or a one-time code from your bank. Anyone who does is attempting fraud.
- Keep your account email secure. Your account email can't be changed, and we send security alerts to it when your password or delivery address changes.
Common questions
Can I pay by card?
Not at the moment. Bank transfer is the only payment method, which keeps our premiums low and every payment traceable.
How long do I have to pay?
You have 2 days from placing your order. The deadline is shown on your order page and on your pro-forma invoice.
Where do you deliver?
We deliver to the United Kingdom, every country in the European Union, Switzerland, the United States, Canada and the United Arab Emirates. Every parcel is insured and needs a signature on delivery.
Is the price fixed when I order?
Yes. Once you place your order within the 10-minute price lock, the price on your pro-forma invoice is what you pay, however the markets move afterwards.
