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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:

      U.S. and Canadian customers

      Payment Type

      Limit

      Currency

      Holding Period

      Cleared Funds on a Kitco Account (FOA)

      Unlimited

      USD, CAD, EURO, GBP

      None

      Credit Card

      $0 - $10,000

      $0 - $25,000

      USD, CAD

      None

      PayPal

      $0 - $10,000

      $0 - $25,000

      USD, CAD

      None

      Bank Wire

      Unlimited

      USD, CAD, EURO, GBP

      None

      Bank Check

      Bank Draft

      Bank Money Order

      $0 - $10,000

      USD, CAD

      3 business days

      Personal / Company Check

      $0 - $10,000

      USD, CAD

      6 business days

       Online Bill Pay

      Unlimited

      CAD

      None

      Purchases in Euros or pounds sterling can ONLY be paid by Bank wire or Cleared funds on a Kitco account (FOA).

      Kitco can accept the following methods of payment. Read further for more details on each before sending in your payment.

      • Bank wire
      • Personal/ business check
      • Bank check (draft, certified, cashier, money order)
      • Credit card
      • PayPal
      • Funds on Account (FOA)
      • Online Bill Payment

      If paying at our retail store in Montreal, other payment options, or restrictions may apply. Please call us at 1-877-7754826 to go over your payment options. 

      Kitco does not accept multiple bank wires, checks or money orders sent at the same time.

      The name on the payment must match the name(s) on the Kitco account; Kitco does not accept third-party payments.

      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.

      Bank Wires

      Bank wires are accepted for any amount in the following currencies: USD, CAD, EURO, GBP.

      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 Automatic Clearing House (ACH) payments. This type of payment will be rejected by our financial institution.

      Important Notice for online banking Customers:

      • Select the same-day bank wire option to ensure the funds are properly received by Kitco.
      • Many financial institution's online services also offer one (1) day, and three (3) day wire options which are considered ACH transfers and will be rejected.

       

      Personal / Business Checks

      Personal / business checks can be accepted up to $10,000 USD/ CAD. Customers with prior payment history may have an increased limit of $50,000 USD/ CAD.

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

      Kitco can only accept checks in U.S. or Canadian Dollars.

      When sending us a check, please ensure that it is made out to Kitco Metals Inc. and that your name and account number are clearly referenced on the check, as illustrated here

      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).

       

      Bank Checks

      Includes certified checks, cashier’s checks, bank drafts, and money orders.

      Bank checks can be accepted up to $10,000 USD/ CAD. Customers with prior payment history may have an increased limit of $50,000 USD/ CAD.

      Only money orders issued by banks are acceptable. Kitco does not accept postal money orders. Bank checks are subject to a holding period of three (3) business days from the date of deposit to ensure clearance. Bank drafts received in person at our Montreal Counter are subject to a five (5) business day hold. 

      Kitco can only accept checks in U.S or Canadian Dollars.

      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

      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.). 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).

      Credit Card / PayPal

      Depending on shipping address, purchase limits on Credit Cards and PayPal can be limited to $10,000 or up to $25,000 USD/CAD. Purchases of Kitco Pool or VaultChain cannot be paid by Credit Card or PayPal. Kitco may require additional verification for transactions paid by credit card and PayPal. Orders that go through verification are typically shipped within 48 hours.

      FOA

      Funds on account, or FOA are funds that you sent to Kitco that are placed in your account with us, to be used towards a purchase, or can be returned at your request. Funds on account are considered cleared when there are no holds placed on the funds. FOA must be clear for the processing of a purchase, or to be returned to you. There is no limit to how much FOA you can hold, and it is available to be held in USD, CAD, EURO, GBP.

      Online Bill Payment

      Available to all customers paying in Canadian currency through the following banks: 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

       

      International customers

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

      Are there discounts for certain methods of payment?

      If you choose to pay for your transaction by bank wire, bank check, personal check, online bill payment, 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.

      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

      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.

      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 through PayPal or by Credit Card?

      Kitco currently accepts both Visa, MasterCard, and PayPal for purchase transactions in U.S. or Canadian Dollars, with a value up to $10,000 for new accounts or a non-verified shipping address, and up to including $25,000 for verified shipping addresses. To purchase with a Credit Card or PayPal you must reside in the United States or Canada. Kitco is unable to accept pre-paid credit cards for purchase transactions.

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

      In some cases, Kitco may require additional information from you to process orders paid by Credit Cards or PayPal. 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 or PayPal account has been charged, you 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 Thursday, and from  8:30 a.m. to 5:00 p.m. ET 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 
      • Kitco can only accept payments up to a maximum of $9,500 CAD, and up to $7,000 USD  cash limit per day and per transaction.
      • We ask that 85% of the note denominations be in $50 and $100.

      Purchases of all sizes, including those made online or over the phone can be paid for fully or partially 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.

      Does Kitco accept Bitcoin or any other cryptocurrencies?

      Kitco does not currently accept Bitcoins as a method of payment but may be able to in the future as we review our methods of payment.

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