# Payment Policy

The following policies apply when a customer buys precious metals from Florida Gold Exchange.

If you are looking for our payout policies when purchasing precious metals FROM customers, see our [Payout Policy](https://www.floridagoldexchange.com/policies/payout).

## Accepted Payment Methods

### Precious Metals Trade-In

- Limits: None
- Fees: None
- Processing Time: Varies
- ID Required: As required*

### Cash

- Limits: $30,000 per transaction
- Fees: 0.003% ($3 per $1,000). Rounded to the nearest $0.05. Waived for sales under $1,000.
- Processing Time: Immediate
- ID Required: As required*
- Restrictions:
  - We comply with IRS Form 8300 reporting requirements for cash payments over $10,000.
  - We may decline any cash payment, regardless of amount, in accordance with our fraud prevention or AML policies.

### Zelle

- Limits: $10,000. Your financial institution may impose a lower limit.
- Fees: None
- Processing Time: Immediate
- ID Required: As required*

### Bank Wire

- Limits: None
- Fees: None
- Processing Time: Immediate
- ID Required: As required*

### Cashier's Check

- Limits:
  - Chase Bank: $200,000
  - Others: $50,000
- Fees: None
- Processing Time:
  - Chase Bank: 1 banking day
  - Others: 7-10 banking days
- ID Required: Yes
- Restrictions:
  - Cashier's checks in the amount of $10,000 or less are treated as cash for the purposes of IRS Form 8300 reporting.
  - Additional requirements may apply to cashier's checks over $50,000, regardless of issuer.
  - Issuer must be FDIC or NCUA insured, with a branch in Broward County or Palm Beach County.
  - We do not accept personal, business, traveler's or certified checks.
  - We may decline any cashier's check, regardless of amount or issuer, in accordance with our fraud prevention or AML policies.

### Debit/Credit Card

- Limits:
  - Online: $1,500 (temporarily suspended)
  - Tap or Chip: $10,000 (temporarily suspended)
- Fees: 4.00%. May be higher for some cards.
- Processing Time: Immediate
- ID Required: Yes
- Restrictions:
  - The card must be chip enabled or support tap to pay.
  - Prepaid debit or credit cards are not accepted.
  - The card must be issued by a bank within the United States.
  - Our merchant processor may decline certain types of business credit cards.
  - We may reduce these limits or decline any card in accordance with our fraud prevention or AML policies.

### Digital Wallet

- Limits: $5,000 (temporarily suspended)
- Fees: 4.00%. May be higher for some funding methods.
- Processing Time: Immediate
- ID Required: Yes
- Restrictions:
  - Transaction cannot be funded by a payment method which is otherwise not accepted under our payment policy.
  - We may decline any digital wallet payment in accordance with our fraud prevention or AML policies.

\* Any accepted payment may require a government-issued photo ID in accordance with our fraud prevention or AML policies. In some cases, we may require a photocopy of your ID and payment instrument.

## We Don't Accept

- Personal checks
- Business checks
- Certified checks
- Cryptocurrency
- Money orders
- PayPal, Venmo, or CashApp
- Money transfers via services such as Western Union or Moneygram
- Traveler's checks
- Foreign currency