Which banks still have an apetitie for precious metal traders. Most UK banks not interested so far..
Asked in Banking
We are a precious metals start up, a UK limited company, who wish exercise a supply contract for precious metal ores with a fully licensed mine we have built a relationship with in South America. We wish to purchase the raw material and have it shipped to our refiners in the US however so far we are unable to open a bank account. So far every UK bank have told us that they have moved away from supporting precious metal related business due to compliance cost/risk. Do you have any advice on which banks to approach, either in the UK or elsewhere? We are only a start up so our fist year turnover would be sub Â£5m. Thank you
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