Gold rush at UOB: bank extends hours and starts appointment-only service
The lender is also extending hours at its main branch gold counters for physical gold purchases or Gold Savings Account physical conversions
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[SINGAPORE] UOB will be introducing new measures at its main branch’s gold counters starting Friday (Feb 13). It will move to an appointment-only system for physical gold purchases and conversions following a recent surge in customer demand, the bank announced on Monday.
It will no longer accept walk-in customers for gold purchases or Gold Savings Account (GSA) physical conversions.
The move aims to reduce waiting times and create a more “conducive experience” for those looking to secure bullion.
Key changes at UOB main branch
To manage the influx of buyers, the bank is adjusting operations at its main branch at 80 Raffles Place:
- Extended hours: Operating hours for gold purchases will be extended by 1.5 hours. The gold counters will now be open from 9.30 am to 6 pm (from the current 4.30 pm close), Mondays to Fridays.
- Mandatory appointments: Customers wishing to buy physical gold or convert GSA holdings must book a slot via the UOB website. Bookings open at 6 pm on Thursday.
- Online order collection: Customers who buy physical gold online will be able to collect their purchases from the next working day and up to 10 working days after their purchase. From Friday, customers who purchase physical gold online can collect their purchases by booking an appointment through the UOB website.
- Sell-backs unaffected: Customers looking to sell gold back to the bank do not need an appointment. These transactions will be handled in the original window of 9.30 am to 4.30 pm on weekdays.
The bank’s decision follows weeks of heightened interest in precious metals.
UOB has advised customers to check the real-time availability of specific gold products on its website before making a trip or booking a slot.
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