The metal industry has many service providers today. This makes it hard for consumers to decide which company to invest in. I am going to take you through an unbiased review of Bullion By Post Company. After the review, you will be able to make an informed decision on whether to invest with the company or not.
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Background Information on Bullion by Post
Bullion By Post (BBP) has been a service provider in the precious metal industry since 2009. The company buys and sells precious metals either as bullion or coins. They have various services. You can either buy or sell metals with the company or invest your metal with the company.
How Does the Company Work?
The company has simple steps and easier-to-follow procedures. The first step involves opening an account with the company, which takes less than five minutes to set up. Next, the account takes you to the official website, where you can select the metal you want to purchase.
The metals come in different types and sizes, and you select your metal and pay the original price. You can opt to keep the metal with the company or have it delivered to your doorstep. You can sell the metal later to Bullion By Post or other retailers who can offer better prices.
Quality of Customer Support
I decided to focus on customer support first because it is an essential part of every online operating company. From various credible reviews, Bullion By Post has a minus on customer support. Customers have complained about delayed responses from the company.
The BBP website also does not have a live chat. You can only reach the support team either through email or via a phone call. In my opinion, live chat is an integral feature for an online operating company which means BBP has failed on the customer support part.
However, customers are served right when they reach out to the support. Most of the customers have given the company a five-star rating on customer service. This means that it is hard to reach the support team, but you are often assured of quality services when you do.
I can ascertain that Bullion By Post has all elements of professionalism. You can also judge by timely delivery, great customer reviews, and the overall rudiments of the company. The customer service part is letting the company down, but it is something that can be improved.
What About the Prices?
Bullion By Post prices is higher than those of competitors. Silver Britannia coins prices are higher with a 16% margin compared to other companies. Gold Britannia coins prices are also 5% higher compared to the prices of competitors.
Are There Any Hidden Costs?
Hidden costs often scam customers, and some never realize it. Bullion By Post has no hidden costs in its dealings. All costs are clear on the website, and you pay what was initially indicated. In case of prices changes, you are informed before making payment. This is one of the aspects I like about the company.
You do not have to worry about the safety of payments since BBP has the best payment options. The available options are debit cards, credit cards, and bank transfers. Payments are secured, and your personal information is safe from outsiders. It is also easy to make payments or receive payments for your products.
Do They Have Refund Policies?
If you want to order or sell through BBP, make sure you get everything right. Their refund policies are strict and unfriendly. The refund is wired back at your own expense, and the original price of the metal is reduced without explanation.
How does the company handle its operations? Most people do not ask themselves this question, but it is essential. Unfortunately, I did not get in touch with any Bullion By Post official on this, and it is not on their website. However, I went through customer reviews that had a lot to say about the company's operation model.
One customer claimed that the operation model is outdated. If any complaint, a customer has to send a letter through the poster to the company. It will take months to resolve the issues since different departments are involved. We are in a digitalized era where you can send emails or have zoom meetings. The outdated operation model is a frustration to many customers.
Countries Served by Bullion By Post?
BBP is the most trusted dealer in the United Kingdom. The company also operates in other European countries. Its main countries are France, Austria, Sweden, Spain, Croatia, and Belgium. Other countries outside the European Union are also served but with different terms and conditions.
Is Delivery Time Expedient?
I can assure you that Bullion By Post has the best delivery system. In most instances, the company delivers the purchased product the following day. A 24 hours delivery time is what many customers crave, and BBP got you on this. In case of delays, the company reaches out to its customers on time. Some orders are also delivered on the same working day.
Means of Delivery
Bullion By Post delivers its products either through Royal Mail or UPS courier service. Customers have no complaints about UPS courier service. The delivery system is effective and always timely. However, a number of customers have complained about Royal Mail due to lack of ID check or signature upon delivery. Therefore, it is better if you use UPS courier service next time you order with BBP.
Order Tracking System
Trafficking information is sent to you once you order a product from Bullion By Post. You are advised to contact the support team if you do not receive trafficking information after placing your order. Customer reviews indicate that they can conveniently follow their parcels after ordering. This is a plus since order tracking shows the commitment of a company to its customers.
Do BBP Offer Favorable Discounts?
Bullion By Post has one discount plan, which is highly rated among the customers. If you spend more than £250, you get a free 1oz Silver Britannia. The offer is perfect since it also benefits small investors.
Does the Company Help Its Customers With Relevant Information?
I have come across many articles written by Bullion By Post. Most of the articles guide potential clients on how to feature in the precious metals industry and make informed decisions. I have also realized that customers are often sent articles to their emails. The articles keep customers updated on the trends of the market. This is an amazing gesture from the company.
Does BBP Allow Small Investors?
The answer is yes. There is always a misconception that you need to be rich to invest in the precious metal industry. Bullion By Post embraces all levels of investors. You can invest with the company for as little as £ 10. The plan involves saving with the company every month until you can afford to buy metal.
Some precious metals offered by BBP are cheap, and low investors can afford them. For instance, you can buy one ounce of silver for £ 11.36. From customer reviews and different testimonials, the company is not biased when it to customer service. All customers are treated the same.
Can You Own Precious Metal in an IRA Account?
The answer is yes. Some companies allow you to hold the precious metal in an individual retirement account IRA. However, Bullion By Post does not offer such services. It means you cannot save for your retirement with BBP. If you are interested in saving for your retirement using BBP, you should look for other alternatives.
Can You Store Your Metals With the Company?
Bullion By Post allows you to store your metal with the company until you decide to sell it. The company has secure vaults, which suggests that your product is always safe. However, you have to pay £ 10 per month as a storage fee.
How Is the Buy-back Program?
Many customers buy metals so that they can sell them at a higher price. Bullion By Post gives its customers a chance to sell back their metals to the company. This is not a common thing in the industry. Companies do not allow metals from their previous customers, but BBP has no problem with that.
The buy-back program is advantageous to customers who can buy a metal, store it with the company and sell it back to the company. In addition, the program eliminates other retailers who might scam customers. It also helps customers to safeguard their metals for a long time awaiting better prices.
How Does BBP Handle Shipping Procedures?
Many customers prefer Bullion By Post because of shipping terms. In addition, the company offers free shipping to all members of the European Union. To make things better, shipping is insured by the company.
Can I Be Served if I Am Outside European Union?
The company mainly operates in Europe, but clients from other countries are not locked out. You can buy or sell your product with BBP from anywhere in the world. However, it can be expensive because you do not enjoy tax advantages offered to European Union customers. Delivery time might also take time since there is no established delivery system outside European Union.
Is BBP Website Legit?
Bullion By Post has a legit and well-developed website. It is easy to navigate through the website, and it has everything that a customer needs other than the live chat. The website’s SSL certificate is valid where the SSL issuer is Starfield Technologies, Inc. The above evaluation of the website suggests that you can fully trust the website.
Many websites resemble the official BBP website. Therefore, you should be careful when selecting the official website. Heads up, https://www.bullionbypost.eu/ is the official Bullion By Post website.
The above website is also informative. You can know more about the precious metals industry from the website. The website also provides a live price feed. If you need past performances, you can easily get the summaries from the website. Price index graphs are perfectly presented on the website.
Has the Company Made Any Official Advertisement?
In 2013, Bullion By Post made its first official advertisement on national television. A London advertising agency made the advert, and it was broadcasted for three weeks. The purpose of the advert was to increase the number of consumers, specifically female customers.
Bullion By Post won Top Financial Service Award in 2013 at the eCommerce Awards. The company also managed to get the eKomi Gold Seal of Approval the same year. The approval was in the category of customer service. The company’s director Rob Halliday-Stein has also been named in a number of awards.
Based on the number and credibility of awards, Bullion By Post has created an outstanding reputation in the financial and precious metals industries.
People do not focus more on packaging when reviewing a product or service delivery, but it is essential. Bullion By Post packaging is excellent. Customers often get nervous about receiving their precious metals through the mail because of the packaging. This is not a problem among BBP customers because the packaging is always discreet.
Gold and silver coins are always delivered in protective cases. I also realized that single coins are enclosed in capsules using the best designs. Gold bars come in their own designed wallets. Bullion is delivered in non-descriptive wrappers. When it comes to safety, Bullion By Post got you covered.
The reliability of a company also relates to the availability of products and services. Bullion By Post often goes out of stock. There have been several complaints from customers. Some claim that their purchases are limited due to the unavailability of stock. However, you can still order the unavailable items and be delivered to you in a few days.
Can My Account Get Blocked by the Company?
The answer is yes. If you fail to comply with the company’s rules and regulations, you can easily lose your account. Your account can also be blocked if the company realizes that you are engaging in illegal business. You are at risk of losing your account if you try to defraud the company.
A trusted Bullion BY Post customer also wrote a review on this issue. He mentioned that his account was blocked after he had an issue with the Royal Mail delivery system. This is a serious allegation because the company should help you in such times instead of blocking your account.
How Did the Company Perform During the Pandemic?
Many companies collapsed during the pandemic. It is good to understand how the company managed the tough periods. The company did well, and online operations were working well. Deliveries were halted for three months ad we can all understand why. However, customers complained of terrible customer service.
Employees were working from home, but this does not justify poor customer service. This is also a major complaint during normal working days in the company. Calls are often ignored, and they keep on saying they will call you back. However, they do not keep their promises which frustrates their customers.
Be Aware of Royal Mail
I have mentioned Royal Mail several times in this review, but I feel it is important to have a section on its own. Most of the negative customer experiences have come due to the failure of Royal Mail. Items are often lost; no signatures, and some deliveries are left outside the door without realizing their value.
It should be clear by now that if you want to buy something from Bullion By Post, ensure delivery is only through UPS courier service. It is not worth risking your valuable items. Refunds always compensate for lost items, but it takes time and resources to follow up.
Many complaints have been posted on reputable sites such as the company’s website, Trustpilot website, and the ekomi website. Some customers often complain about mail delivery. Parcels are often delivered to customers without a sign or identification check, delayed deliveries, and wrong address delivery.
Customers also complain of expensive prices compared to competitors. There are also loads of complaints about customer services, especially due to the lack of live chat on the website. One customer posted a negative review complaining over failed delivery with no refund.
Some customers also claimed that it is a challenge to write an address on the website. These complaints are essential because they help you evaluate the actual nature of the company. I would advise you to read through all company reviews from customers before making a decision. On average, Bullion By Post has very few complaints compared to other companies.
Bullion By Post has suggested different recommendations that can make the company better. Some of the recommendations are important in this review because they pinpoint areas of improvement. Most of the customers mentioned upcoming currencies. The company should be prepared to face currencies such as Bitcoin.
The company does not accept payments from upcoming currencies, and this is an issue that should be addressed. Different customers also mentioned that the IOS app does not facilitate payments. It should be improved since most people do not like using browsers.
BBP payment systems do not save payment details. Some clients want the system to record their credit numbers for future reference. This can make payment easy since second-time clients would only need to key in the three security numbers. A large percentage of clients also mentioned that the website should have a live chat section.
What Are the Pros and Cons of Using Bullion by Post?
Is Bullion By Post a Scam?
I hope by now you are able to realize that BBP is not a scam. The company is a legit one with a physical address and real owners. Bullion By Post has its headquarters in Birmingham, UK. It is owned by Jewellery Quarter Bullion Limited (JQB Ltd), and it has been operating legally for the past 12 years.
The company is also an authorized distributor of Royal Mint, which boosted its credibility in the market. Ratings from different trusted sites can also help us understand whether it is a scam or not. For example, BBP has a rating of 4/5 from the Trustpilot. In addition, the customer reviews on the company’s website give the company a rating of 4.7/5. These ratings seem decent in all ways.
Bullion By Post is a legit company. My rating based on this review would be 3.5/5. I would have given it a 4/5 if customer complaints on customer support were fewer. However, I can assure you that it is a good company.
I believe the above-unbiased review has given you an idea of how Bullion By Post looks like. However, it is on you to decide whether to invest with the company or not. I would advise you to carry out thorough research before selecting the company to invest in. Precious metal and financial industries are two delicate industries that require informed customers.
Although we do think that Bullion By Post is a solid company, we believe that there are better companies out there to make your investment with.
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