Common use of DEPOSITING MONEY Clause in Contracts

DEPOSITING MONEY. We do not extend credit or allow trading on margin in any circumstances. As you can only purchase Precious Metal to the value of money in your Account, you must first deposit money into your Account. When depositing funds into your Account you must include your account number in the reference or description field of the bank transfer. TRANSFERS CAN ONLY BE MADE BY A BANK TRANSFER AND MAY NOT BE MADE BY CASH OR ANY CHEQUE DEPOSITS. If you do not explicitly request your bank to charge you for any transfer fees, that your bank or correspondent banks may deduct such fees from the amount you transfer and we will only receive, and credit to your account, the net amount we receive. If we receive a bank transfer without an Account number we will put the deposit into a holding account until we can identify to which Account the deposit belongs. If, in our opinion, we cannot obtain sufficient clarity to whom the money belongs, it will be transferred back to the Bank Account from which it came. If we receive a bank transfer with your Account number but it has come from a Bank Account which is not in the same name as your Account, or, in our opinion, the origin of the funds is unclear or cannot be established, it will be transferred back to the Bank Account from which it came We reserve the right to charge you for costs we incur returning your money and we will not compensate you for any increases in Precious Metals price while we were attempting to identify to whom the money belonged due to your failure to include your Account number or send the funds from a bank account not in your name or any losses or damage you incur in that regard.