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Funding an account

Fund your account before placing your precious metals purchase. Frequently asked questions regarding the different ways you can fund your account and how to send in funds to your Kitco account can be found here.

Please note: to ensure compliance with anti-money laundering/counter-terrorist financing regulations, incoming payments are subject to review. We may request additional information or documents to clarify the source of funds.

  1. Why is prefunding a Kitco account recommended?

    U.S. and Canadian residents can buy or sell precious metals worth up to $20,000 as soon their Kitco account is opened and activated. For larger purchases and sales, depending on their value, you require at least 15% or 25% of the total value of all open transactions in cleared funds on your Kitco account or cleared Kitco Pool - Metal Account. Residents of all other countries cannot buy or sell precious metals without such cleared funds with Kitco or cleared Kitco Pool - Metal Account. That is why we recommend that you prefund your Kitco account. Doing so will allow you to buy or sell your desired quantity of precious metals at any time and take immediate advantage of favorable price movements. For information on funding your account, see “How can I add funds to my account?

    How can I add funds to my account?

    Sending up to $10,000 in U.S. or Canadian dollars

    U.S. and Canadian customers can add up to $10,000 to their Kitco accounts in U.S. or Canadian dollars by any of the following methods:

    • Bank wire
    • Personal or business check*
    • Certified check, cashier's check, teller’s or official check†
    • Bank draft†
    • Money order issued by a bank†‡
    • Online Bill Payment 

    Any customer sending funds in Euro or pounds sterling, or who reside outside of the U.S or Canada (regardless of currency), can add funds to their Kitco accounts by Bank wire.

    Personal / business checks or bank checks such as certified checks, cashier’s checks, bank drafts, and bank money orders can be accepted up to $10,000 USD/ CAD. Customers with prior payment history with Kitco Metals Inc. may have an increased limit of $50,000 USD/ CAD.

    Funds sent using online Bill Payment must be sent in Canadian Dollars, using one of these participating Canadian financial institutions: BMO, CIBC, RBC, National Bank, Scotia Bank, TD, Simplii Financial, Laurentian Bank, Desjardins, Tangerine and Manulife. 

    Use the following steps to send your online payment to Kitco:

    • Go into the Payments section of your online bank account
    • Click "Pay a Bill" and then "Add a Payee"
    • Search: “Kitco”, then select "Kitco Metals"
    • Enter your Kitco account number as reference
    • Complete your payment following the instructions provided on your online banking account

     

    Sending over $10,000 in U.S. or Canadian dollars

    U.S. and Canadian customers can add over $10,000 to their Kitco accounts in U.S. or Canadian dollars by Bank wire.

    Sending funds in Euros or pounds sterling

    U.S. and Canadian customers can add funds to their Kitco accounts in Euros or pounds sterling only by Bank wire.

    *Personal and business checks are subject to a holding period of six (6) business days from the date of receipt to ensure clearance.

    †All other checks, bank drafts and money orders are subject to a holding period of three (3) business days from the date of receipt to ensure clearance.

    ‡Only money orders issued by banks are acceptable. Kitco does not accept postal money orders.

    Checks will be returned to you by Kitco if they are incorrectly written (with an incorrect or missing date, dollar amount discrepancies, incorrect spelling, missing signature, etc.). Your bank will return your check if there are insufficient funds in your bank account or if your bank account is closed or not traceable. Should this happen, you will be charged an administrative fee of $35 (USD for U.S. dollar amounts and CAD for Canadian dollar amounts). Checks returned by Kitco will be sent to you by regular mail. At your request, we can return your check by courier for a fee of $30 (USD for U.S. dollar amounts and CAD for Canadian dollar amounts).

    Check payment instructions (for U.S. and Canadian customers only)

    Please make your check payable to Kitco Metals Inc. and include your name and Kitco account number on it. Send your check to:

    Canadian Residents:

    Kitco Metals Inc.
    620 Cathcart, Suite 900
    Montreal, QC H3B 1M1
    Canada

    OR

    US Residents:

    Kitco Metals Inc.
    64 Lake Street, Suite 101
    Rouses Point, NY 12979
    USA

    Write your check as illustrated below:

    Check payment instructions

    Does Kitco Accept Third Party Payments?

    To keep transactions safe and secure, the name on the payment account must match that of the Kitco account holder. Any third-party payments will be returned within 7-10 business days. If you’ve been sending payments from a company or a trust, give us a call at 1-877-775-4826.

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