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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 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 $7,500 in U.S. or Canadian dollars

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

    • Bank wire
    • Credit card
    • 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 up to and including $10,000 in U.S. or Canadian dollars

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

    • 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 10 business days from the date of receipt to ensure clearance.

    ‡All other types of checks, bank drafts and money orders are subject to a holding period of three 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).

    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.

    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.

    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.

    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)].

    What happens if a package shipped by Kitco is undeliverable?

    If Kitco ships you precious metal bullion products that you have purchased and if you refuse to take delivery of the package or if the courier company returns the package to us as being undeliverable for any reason:

    • Kitco will promptly notify you about it and seek further instructions
    • Once we receive your reshipment instructions, we will resend the package and reapply the usual shipping and insurance charges
    • If we do not receive your reshipment instructions within 10 business days of the date on which we notify you of the non-delivery of your original shipment, we will buy the goods back from you
    • If Kitco is forced to buy back your precious metal bullion products for the reasons described above, you will be charged an administrative fee of $50
    • The precious metal bullion products will be bought back using the last available price fixing published by the London Bullion Market Association on the date that the deadline for receiving your reshipment instructions expires (or the corresponding Kitco live spot price for rhodium) plus applicable premiums
    • Proceeds from this sale of your precious metal bullion products, less all applicable fees and charges, will be deposited as funds on your Kitco account

    Can I return or exchange products that I have bought from Kitco?

    Most of our customers are very satisfied with the products that they receive. Sometimes, however, you may find that the products that you receive are circulated (previously owned) or seem to have some reddish or whitish spots on them. Most of these spots and marks are just residues of chemicals used in the manufacturing process. Often, they can be polished off with a soft cloth. Even if they are hard to clean off, they do not impact the value of the coin/bar because they are not impurities but just superficial marks.

    Your coins/bars are no less valuable because they have these marks. The value of precious metal bullion coins and bars depends primarily on their metal content and not on their appearance. Minor blemishes and regular wear and tear do not deplete the value of precious metal bullion coins and bars. Your coin/bar will fetch its full market price whenever you resell it.

    Despite this, if you are still unsatisfied with your products and would like to have them exchanged, please call 1 877 775-4826 or 514 313-9999 within three business days of receiving the products. Our customer service representative will be happy to process your exchange. Please note, however, that:

    • A like-for-like exchange can only be done if the products that you bought are in stock
    • If the product that you bought is unavailable, you might be offered a similar product in exchange
    • If the product that you are offered in exchange is more expensive than the original products that you bought, you will be charged the difference
    • We cannot guarantee that the products that you are sent in exchange will be uncirculated
    • You must send your original products to Kitco in their original packaging by any shipping method of your choice, at your own cost
    • Kitco will charge you at the usual applicable rate for shipping products in exchange

    Products once sold, cannot be returned under any circumstances. Kitco can only offer to exchange your products. We do not offer refunds, but we can buy back your products from you at the prevailing market price at any time. For information on selling products back to Kitco, see our “Selling precious metal bullion products FAQs”.

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