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Payments and fees

Below you’ll find the most frequently asked questions on how to pay for your precious metals purchased with Kitco including credit card, bank wire and check options.

  1. How can I pay for my purchase?

    Payment for purchase transactions is due within three (3) business days of placing your transaction. Payment for a Kitco purchase transaction depends both on your country of residence (or the country in which your principal place of business is located) and the value of your purchase, as follows:

    International customers

    International customers can pay for their Kitco purchases by any of the following methods:

    U.S. and Canadian customers

    Purchase transactions with a value up to and including $10,000 in U.S. or Canadian dollars

    U.S. and Canadian customers can pay for purchases worth up to, and including $10,000 in U.S. or Canadian dollars by any of the following methods:

    • Credit card (up to $7,500 USD/CAD)
    • Bank wire
    • Cleared funds on a Kitco account*
    • Personal or business check
    • Certified check, cashier's check, teller’s or official check‡
    • Bank draft‡
    • Money order issued by a bank‡§

     

    Purchase transactions with a value greater than $10,000 in U.S. or Canadian dollars

    U.S. and Canadian customers can pay for purchase transactions with a value greater than $10,000 in U.S. or Canadian dollars by any of the following methods:

     

    Purchase in Euros or pounds sterling

    U.S. and Canadian customers can pay for purchases in Euros or pounds sterling by any of the following methods:

    *Funds on account are considered cleared when there are no holds placed on the funds.

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

    ‡All other types of checks, bank drafts and money orders are subject to a holding period of three (3) business days from the date of deposit 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).

    Note

    • When sending us a check, please ensure that it is drawn in favor of Kitco Metals Inc. and that your name and account number are clearly referenced on the check, as illustrated here
    • When sending us a bank wire, please carefully follow our bank wire instructions. In the reference line of your bank wire, please put the Kitco account holder’s name, followed by the Kitco account number in parentheses [e.g. John Smith (0123456)].
    • Kitco does not accept multiple bank wires, checks or money orders sent at the same time.
    • Kitco does not accept Automatic Clearing House (ACH) payments. This type of payment will be rejected by our financial institution.
    • Important Notice for Bank of America Customers:
      • If you are wiring funds through Bank of America online, please select the same-day bank wire option to ensure the funds are properly received by Kitco.
      • Bank of America’s online service also offers one(1) and three(3) day bank wire options which are both considered ACH transfers and will be rejected.

    Are there discounts for certain methods of payment?

    If you choose to pay for your transaction by bank wire, bank check, personal check, or funds on your account, a 4% discount will apply. The different payment methods and their immediate applicable discounts are displayed on the product details page of any item you are looking to purchase.

    Can I pay in multiple currencies?

    • If your entire payment is by bank wire, you cannot pay in multiple currencies but must pay in your transacting currency only
    • If a part of your payment is by bank wire, the bank wire component of your payment must be in your transacting currency only
    • If part of your payment is by funds held on your Kitco account, you may pay in any of the following currencies:
      • U.S. dollars
      • Canadian dollars
      • Euros
      • British pounds

    If you pay in a different currency from the one you purchased in, your payment currency will be converted into the purchase currency at Kitco’s daily currency exchange rate.

    Can I pay for my purchase with a credit card?

    Kitco currently accepts both Visa and MasterCard for purchase transactions in U.S. or Canadian Dollars, with a value up to and including $7,500. To purchase with a credit card you must reside in the United States or Canada, and your shipping address must match the billing address associated with your credit card. Kitco is unable to accept pre-paid credit cards for purchase transactions.

    What does Kitco need from me when paying by Credit Card?

    In some cases, Kitco may require additional information from you to process orders paid by credit card. This verification step is done to protect both our customers, and Kitco. Should you not wish to proceed with verification, you may send an alternate method of payment to pay for your order. If you chose to send in a different method of payment and your credit card has been charged, it will be reimbursed within 24-48 hours.

     

    Do I have to give you my credit card number online?

    Yes, it is required for you to provide your credit card information when asked to do so. We may need a valid Visa or MasterCard credit card to confirm your price, pay for your purchase transaction, or charge certain fees (such as shipping and insurance fees) if you opt to pay them by credit card. We may charge your card if market loss repayments or other fees become payable.

    Kitco has put in place several advanced technological security measures to protect your personal data. Kitco is PCI compliant (https://www.pcisecuritystandards.org/) however, if you are uncomfortable with giving us your credit card information online, you can provide it over the phone by calling 1 877 775-4826 or 514 313-9999 from 8:30 a.m. to 10:00 p.m. ET, Monday to Friday.

    Is it safe to buy precious metals with a credit card?

    It is both safe and convenient to purchase precious metals from Kitco with your credit card. Kitco is PCI Compliant (Payment Card Industry Data Security Standard). Some orders may require a manual review for your protection. This reduces the risks involved with using your credit card for online purchases.

    Can I pay for my purchase in cash?

    Yes, you can pay for your purchase with cash, but the following limitations apply:

    • Cash payments can be made only at our retail store in Montreal (open 8:30 a.m. to 4:00 p.m. ET, Monday to Friday)
    • Only payments in U.S. or Canadian dollars can be made with cash
    • Only bills of $50 and $100 are accepted

    Purchases of all sizes, including those made online or over the phone can be paid for with cash as long as the purchase is being picked up at our Montreal retail store. Purchases being delivered to you cannot be paid for in cash. Euro and pound sterling payments cannot be made in cash.

    What are intermediary bank fees? How much should I send to cover these costs?

    Most international wire transfers pass through at least one intermediary bank. Intermediary bank fees are levied by these intermediary banks and not by the sender or recipient bank. If you specify the exact amount that should reach Kitco, your bank could advise you on how much more money you need to send to cover the intermediary bank fees. Usually, an additional U.S. $25 should be enough to cover these fees.

    Where and in what name should I send my payment?

    If you are paying us from the funds on your account, you do not need to send us any money. We will deduct the sum you owe us from the funds on your Kitco account.

    If you are paying us by bank wire, the beneficiary should be Kitco Metals Inc. Detailed bank wire instructions (address, account number, etc.) will be available on the Transaction Processing page during the checkout process and in the confirmation email that you will receive.

    NOTE: To speed up your purchase, please carefully follow our bank wire instructions. In the reference line of your bank wire, please put the Kitco account holder’s name, followed by the Kitco account number in parentheses [e.g. John Smith (0123456)].

    If you are paying us by personal or company check, please make out your check to Kitco Metals Inc. and include your name and Kitco account number.  See check example. You may send your check to one of the following addresses

    Canadian Residents:

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

    US Residents:

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

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