II. Service Types
As for transaction currencies, the transaction can be made via RMB account or via USD account. The unit is “gram” for RMB account-based precious metals while “ounce” for those transacted via USD account.
As for types of precious metals, such precious metals as gold, silver, platinum and palladium can be transacted via account.
There are two types of transactions, i.e. transactions in which purchases are made before sales and the ones in which sales are made before purchase. In the first type, the customer purchases precious metals and then sells them after they are credited to the account; while in the second type, the customer sells first, and then purchases precious metals in partial or the entire sale amount. These two types of transaction are independent of each other and are handled separately.

III. Service Price
ICBC quotes you after comprehensively considering the prices of precious metals in markets at home and abroad. It also updates the price in real-time in line with the market changes.

IV. Features
Low transaction cost: There is no account opening fee or handling fee. The transaction cost is low as customers don’t need to make physical delivery, saving the cost of storage, transportation and identification.
Long transaction period: ICBC e-banking provides the service from 7:00 a.m. Monday to 4:00 a.m. Saturday every week.
Low threshold: The transaction threshold and the minimum increment of USD account-based gold, platinum and palladium are both 0.01 ounce. The transaction threshold of USD account-based silver is 1 ounce and the minimum increment is 0.01 ounce. The transaction threshold of RMB account-based gold, silver, platinum or palladium is 1 gram and the minimum increment is 0.1 gram.
Multiple transaction channels: ICBC outlets provide face-to-face service, and customers can make transaction whenever and wherever through mobile banking, personal Internet banking and ICBC e Investment.
Real-time clearing: The transaction of account-based precious metals is cleared in real-time and the funds are credited to the account instantaneously. Customers can make several transactions in a day so as to maximize the utilization of funds.
Multiple transaction means: Customers can make transaction upon spot delivery or pending orders. Such orders include profit-taking order, stop-loss order, two-way order, revolving order, one-to-many order, trigger order and supplementary order. The revolving order and supplementary order can’t be applied to transactions in which sales are made before purchase. The longest period for pending orders is 30 days.

V. Target Customers
1. Customers who have transaction experience and relatively strong risk tolerance, possess certain knowledge about the precious metal market and hope to pocket the difference by grasping market trend.
2. Customers who have investment experience and risk tolerance to a certain degree, and hope to make diversified portfolio and maintain or increase the value of assets by holding precious metals over a long term.

VI. Qualification
Customers shall hold ICBC current passbook, ICBC Moneylink Card, Elite Club Account Card or ICBC Wise Gold Card. Customers using Internet banking, mobile banking and ICBC e Investment shall activate ICBC e-banking.

VII. Application Process
Customers shall open personal precious metal account before applying for account-based precious metal (including gold and silver) transaction.
1. Opening account at counter: To open account, the customer shall present the valid ID document, ICBC current passbook and ICBC Moneylink Card or Elite Club Account Card, and then fill in and sign the Application for Opening or Closing Personal Precious Metal Account.
2. Opening account through e-banking: Customers can open personal precious metal account through self-service channels such as ICBC Internet banking or mobile banking.

VIII. Service Channels and Hours
1. At counter: The service is available during actual business hours of each outlet from Monday to Friday.
2. Through e-banking: The service is available from 7:00 a.m. Monday to 4:00 a.m. Saturday every week.

IX. Operation Guide
1. Transaction at counter:
Customers can apply for the service at designated ICBC outlets by providing the valid ID document, ICBC current passbook and ICBC Moneylink Card or Elite Club Account Card.
2. Transaction through Internet banking:

3. Transaction through mobile banking.
Procedures of mobile banking comply with the guidance on the operation page of mobile banking.

X. Tips
1. You can check real-time trend chart and historical K line graph through ICBC personal Internet banking.
2. You can leave your mobile number when placing orders so as to receive short messages once orders are closed.

XI. Notes
1. Only one account for precious metal transaction can be opened in one area.
2. You can inquire historical transactions and order details up to half a year through Internet banking.
3. You can make account-based precious metal transaction (in ounce) only in USD. So if your do not have USD in your account, please convert the foreign currency into USD before making account-based precious metal transaction (in ounce).
4. You need a multi-currency current account for making USD account-based precious metal transactions.

XII. Risk Prompt
Personal account-based precious metal transaction involves policy risk, price risk, interest rate risk, security risk in communication system and security risk in network system. Prices can fluctuate drastically due to international political and economic factors and other emergencies. You shall be fully aware of the inherent risks and make investment decision based on your independent judgment.

XIII. Definitions
Bid price: It refers to the quotation at which ICBC purchases account-based precious metals from customers (in other words, customers sell account-based precious metals to ICBC).
Ask price: It refers to the quotation at which ICBC sells precious metals to customers via account (in other words, customers purchase precious metals from ICBC via account).
Profit-taking order: It refers to the order whose price is higher than the spot quotation. The customer purchases precious metals at a price lower than the spot bid price or sells precious metals at a price higher than the spot ask price. The order is closed when the quotation reaches the profit-taking price.
Stop-loss order: It refers to the order whose price is lower than the spot quotation. The customer sells precious metals at a price lower than the spot bid price or purchases precious metals at a price higher than the spot ask price. The order is closed when the quotation reaches the stop-loss price.
Two-way order: It refers to the combination of profit-taking order and stop-loss order. The closure of either one of them triggers the void of the other.
Revolving orders: They refer to the first and second orders placed simultaneously by the customer. The two orders are of the same type of precious metals in the same amount. However, one is purchase order and the other is sale order, and the bid price is lower than the ask price. The first order will be closed when ICBC’s quotation reaches its price and the second order will take effect. Afterward, the second order will be closed when ICBC’s quotation reaches its price and the first order will take effect again. The orders revolve like that and become void upon expiry or cancellation by the customers.
One-to-many orders: They refer to two or more orders placed simultaneously by the customer. The orders are of the same transaction currency but different types of precious metals. They are all purchase orders or sale orders and are arranged according to the selection order. When ICBC’s quotation reaches the price of one order, the particular one will be closed and the others will be void. When ICBC’s quotation reaches the price of several orders, the one that falls first in the arrangement will be closed and the others will be void. One-to-many orders can cover as many as six ones at the same time.
Trigger order: It refers to the order which is placed by the customer and takes effect at the trigger price. The order will become effective when ICBC’s quotation reaches the trigger price and it will be closed when ICBC’s quotation reaches its price.
Supplementary order: It refers to the order added to the profit-taking order, stop-loss order and two-way order (collectively referred to as the main order) by the customer. It can be a profit-taking order, a stop-loss order or a two-way order. The transaction direction of the supplementary order shall be opposite to that of the main order. As a contingent order, the supplementary order shall be placed along with the main order and will take effect only upon the closure of the main order. If the main order is a two-way order, the customer can only choose profit-taking order or stop-loss order as the supplementary order. When a two-way order is closed, only the supplementary order added in the transaction direction of the main order will take effect.

Note: The information provided on this page is for reference only. Concrete business shall be subject to the announcement and provisions of the local outlet.