How to Fund your UPMA account
UPMA Account deposits can either be set up for Recurring Deposits or One-Time Deposits.
Recurring Deposits
There are two methods for recurring deposits: 1) Bill Pay or 2) ACH Deposit through Stripe.
Bill Pay: An easy way to make recurring deposits into UPMA via Alpine Gold is through “bill pay” with your financial institution. Check with your financial institution, or on your online bank’s website, on how to participate. Your financial institution will send out either paper checks, or send out an ACH payment. Usually, this is a free service all the way around. You can determine the date when this is done, such as the first business day of each month. A lot of our members participate in this and it works very well.
ACH Deposit: This method of monthly recurring deposits is set up with the UPMA account portal by the member. This results in an ACH draw being executed by Legal Tender Services from the member’s identified bank account. The day this ACH occurs during the month will not be consistent as it is subject to ACH limits from the Trust bank accounts initiating the draw. If having funds pulled from your account on a particular day during the month is important, we recommend using the Bill Pay method listed above.
One-Time Deposits
1) Wire transfers: Payable to Legal Tender Services PLLC. See the instructions below. This will cost $15 for us to receive it, and perhaps other fees will apply from your sending bank. This is your fastest method for sending large amounts.
International wires are available. Please inquire for instructions.
2) Personal checks, cashier’s checks, or money orders: All payable to: Legal Tender Services PLLC. Please mail to: UPMA/Legal Tender Services, 333 S Main St, Alpine, UT 84004. This is the most common form of deposit. You may even send a physical check via bill-pay which can be done through your bank or credit union. See the description above under the Recurring Deposits section.
In the check memo field, please indicate whether you want Goldbacks, U.S Silver, or U.S Gold coinage.
3) ACH Deposit: This option currently allows for transactions up to $75,000. A nominal fee of 1% applies, capped at $10. Please anticipate a processing period of 3-5 business days, with an additional 1-2 business days if utilizing the micro-deposit verification method.
4) Credit/Debit Card Deposit: This deposit method offers flexibility with no predefined deposit limit, accompanied by a transaction fee of 3.5%.
5) Cash (physical paper dollars): Settles immediately, available in the account for next-day use.
6) Metal deposits: You can deposit legal tender coins or exchange other types of bullion for legal tender or Goldbacks. We take many variations of precious metals but do not accept jewelry or silverware.
Other Things to Know:
Please contact the Alpine Gold staff by email or phone if you have any questions or concerns. We can process checks without additional contact, provided that you follow the instructions above and note the metal of choice in the memo field. For wires or metal transfers please reach-out so we can allocate them to the correct accounts. If we can’t find that information then we will call you.
1) What metal would you like us to purchase: gold, silver, or Goldbacks, or a combination?
2) What time frame you would like for conversion into metals, (if you don’t want it to go through the next day)
a) Next-day (default)
b) Dollar-cost-averaging over 1 week (5 business days)
c) Dollar-cost-averaging over 2 weeks (10 business days)
d) Dollar-cost-averaging over 30 days (20 business days)
Wiring Instructions for funds going into UPMA
Regarding wiring funds to fund your UPMA account, please use the following credentials to effect such a transfer to:
Wells Fargo Bank
Financial Institution Address: 420 Montgomery Street, San Francisco, CA 94104
Financial Institution Phone Number: 800-869-3557
Financial Institution Routing (ABA): 121000248
Payable to: Legal Tender Services, PLLC
Recipient Address: 333 South Main Street, Alpine, Utah 84004
Recipient Account: 2926336021
This will incur a $15 incoming domestic wire fee, pulled from your UPMA account. Your financial institution may additionally charge an outgoing domestic wire fee.
Please indicate you are sending a wire by logging into your UPMA account and make a deposit, through wire. It will allow you to select:
The amount you are sending
What metals you would like
The conversion time period (i.e. next day acquisition, or dollar-cost-averaged over one day, five days, or twenty days)
For the payment method, select “wire/check,” and follow the prompts to submit. You will then be given an order number.
If you are sending your wire through a brokerage, then you’ll need to email the UPMA staff directly at [email protected] and inform us of your name, the amount of funds being sent, the metal of choice, and the conversion time period.
If you are sending funds from an account that does not list your name, such as having a brokerage or trust send the wire, please also send our staff email confirmation of the name of the sending entity and the amount of the wire along with any additional instructions. This will help the process go much more quickly for your wire transfer.
** WARNING: If your financial institution asks for the Name on the Account DO NOT put your own name or it will be sent back. Always indicate Legal Tender Services, PLLC as the name of the account. Your name should only appear in the memo if desired.
All funds transferred must be in US dollars (Federal Reserve Notes). Wells Fargo has a Swift Code which can be looked up online and which will allow foreign currency to be wired.
For a wire's conversion to be sent the day it is initiated, it must be done by 3:00 pm (Mountain Time) that day. This will ensure funds clear overnight and will be received the following morning. Failure to do so may result in receiving the following day's rate.