What is a pool account???

B

Biker

Active Member
#2
#2
jacovsamuel said:
Pool Accounts, also often referred to as unallocated storage accounts, refer to a precious metal account deposit in which the client does not have title to specific (allocated) bars or coins. The client instead owns a defined but unallocated interest in a pool of precious metals held by Kitco. However, the client is entitled to receive physical bullion in the form of any type bar or coin normally carried by Kitco upon payment of quoted fabrication charges.
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My dear friend i dont from which website u have done that copy/paste but if u dont know the answer than shut urself instead of providing wrong suggestions...

Anyways, pool account is operated by ur broker. When u order a buy than the shares go into ur broker's pool account and when ur broker gets the payment of shares than he transfers shares to ur demate account. This is the "practice".

Selling shares from ur demat will cost u. So at times investors sell the shares directly from pool account, thereby reducing the charges to be given to DP.
 
A

ashu1234

Well-Known Member
#5
#5
Pool account is Brokers account which facilitates transfer, pay-in and pay-out of shares. Its like a collective account of all customers, which is represented by main brokers account.
 
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