In order to buy precious metals at the Hard Assets Alliance, you must first add funds to your account. And the question I’m constantly getting from our customers is how much cash they should keep in their account.
My rule of thumb would be to fund as much as you need to purchase the metals in addition to 6–12 months’ worth of storage fees. The storage fees are automatically withdrawn from your account balance at the end of each quarter.
Note that you should fund a little more than needed to purchase your desired allocation of precious metals due to metal price changes between the time you fund and the time you place your metal order.
Apart from that, it is best to keep all your cash in your own bank account(s) for a couple of reasons. First, the cash on your HAA account does not earn any interest. Second and most importantly, it is not FDIC insured.
Once you link your HAA account to a bank account, you can then conveniently make ACH transfers from your laptop or phone at any time. It’s fast, too. Most interbank ACH transfers take 24 to 48 hours before they are credited into the receiving bank.
There are other options to fund your account, such as wire transfers or checks. Check settlement takes more time, though. In most cases, the larger the check, the longer it takes to clear through the banking system.
Olivier Garret, CEO
Hard Assets Alliance
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