Discover the Birch Gold Fees That You Must Know
Reid Sletten- Gold may also be vulnerable to economic uncertainty.
- Gold prices are subject to sudden, dramatic price changes, making them volatile.
- Birch Gold Group is a gold-storage provider.
Investing in gold has been a tried-and-tested investment method since ancient times. The precious metal is an attractive asset for investors due to its perceived stability in times of economic and political uncertainty. However, investing in gold is not without risk.
Counterparty risk is the most significant risk associated with investing in gold. Gold investors are vulnerable to a change in the gold price due to a change in the interest rate. Gold may also be vulnerable to economic uncertainty.
Several companies provide physical gold bullion storage services, including Birch Gold Group (BGG). Birch Gold Group is in the business of providing gold storage services, as well as gold IRA rollover services.
Account Opening
The account opening fee, which is $50 for the basic plan, $100 for the premium plan, and $150 for the premier plan, is charged upon opening the account.
Annual Maintenance Fee
The annual fee is charged annually and is $75 for the basic plan and $150 for the premium and premier plans.
Bill Pay Service
The service charges $5 per month.
Account Management
The account management fee is a monthly fee of $30. For accounts that do not meet the minimum balance of $2,500, there is a dormant account fee of $10 per month.
Transaction Fees
The transaction fees are $0.50 each lot traded.
Exchange Swing Fee
The exchange swing fee is $0.50 for any trade that occurs outside of regular market hours.
ATM Withdrawal
The $2.50 ATM withdrawal fee applies to all customers, regardless of membership status.
Bill Payment
The $4.95 bill pay fee applies to all customers, regardless of membership status.
$5.95 cash withdrawal fee applies to customers who do not have an active account or be a member of Birch Gold.
ATM Cash Advance
The interest rate on ATM cash advances varies by product, but it's generally around 2%.
ATM Fee
The ATM fee for the Birch Gold Visa is $4.50 per transaction. This is a fixed fee, so it doesn't matter how many withdrawals you make.
Foreign Transaction Fee
The foreign transaction fee for the Birch Gold Visa is 1%.
Account Closure Fee
The account closure fee charged by Birch Gold is $1,500. If you sell physical gold before maturity, you must pay the fee.
Monthly Account Maintenance Fee
There is a $10 monthly maintenance fee charged to your Birch Gold account.
Storage Fee
There is an annual fee of $50 for the storage of physical gold.
Statement Fee
The $20 monthly fee charged to Birch Gold clients is for analytical resources, account management, and account servicing.
Transaction Fees
The broker charges $.01 per round turn trade.
Annual Account Fee
The fee charged to bi-yearly is $100 and is charged on the anniversary of the account opening.
Foreign Currency Conversion
There is no charge for converting foreign currency to U.S. dollars.
Account Suspension
Accounts can be suspended for non-payment of account fees. However, if an account becomes dormant, the firm will mail the account owner a "Notice of Inactive Account" and request that all funds be liquidated within 60 days.
Wire Transfer Receiving Fee
The wire transfer receiving fee, or wire fee, consists of a receiving fee and an administration fee. The receiving fee is a percentage of the amount being wired, while the fee is an administration fee of $25 per wire transfer.
Receiving Fee
The receiving fee ranges from 0.5% to 2% based on the dollar amount of the wire, with a minimum fee of $5 and a maximum fee of $100.
Receiving Fee with Wire Transfer
To receive a wire, the receiving fee ranges from 0.5% to 2% of the dollar amount of the wire, with a minimum fee of $10 and a maximum fee of $100.
Administration Fee
The administration fee is $25 per wire transfer.
Wire Transfer Sending Fee
The Birch Gold Exchange charges a flat fee of $20 for every wire you send. If you plan to transfer more than $5,000, the fee is $25.
Low Fee Withdrawal Fee
The exchange charges a $30 fee for every withdrawal you request.
Storage Fee
The exchange charges a $20 fee per month to keep bullion on hand for you.
Cancellation Fee
If you request to cancel an order that has been filled, the exchange will charge you a $50 cancellation fee.
Wire Transfer Fee
The wire transfer fee is per transfer and will be $15.95.
Cash-to-Cash Fee
This fee applies to cash-to-cash transactions only. If you exchange cash for gold, then the fee is $15.95 per transaction.
Cash-to-Metal Transaction
Cash-to-Metal transactions are charged $20.95 per transaction.
Fractional Ounces
When selling fractional ounces, you must pay a $5.95 per-ounce fee ($0.05 per coin).
Cash-to-Cash Transaction
Cash-to-Cash transactions are charged an initial fee of $15.95 for transactions up to $5,000.00. Transaction values greater than $5,000.00 require a $25.95 fee.
End of Month
There is a $15.95 charge for transactions that take place after the 5 p.m. cutoff time on the last day of the month.
Account Maintenance Fee
There is a $1.95 charge for all transactions related to maintaining an active account.
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Wire
This fee costs $15 per transaction. This is charged to a client's bank account when the broker initiates a wire payment. The broker sends a wire request to the bank, which charges $15.
ACH
This fee is $20 per transaction. It is charged to a client's bank account when the broker initiates an ACH payment. The broker sends a wire request to the bank, which charges $20.
