Bullion Account vs Bank Account

Why would you deposit or save your money in an institution that isn't legally obligated to give it back to you? Read on to learn about the differences and why it is so important to open a precious metals account. 

If your money is in the bank, you are an unsecured lender to an insolvent institution. Get your money out of the bank and into a fully insured, instantly liquid bullion account ASAP.

Canada Deposit Insurance Corporation (CDIC) Protecting Your Deposits

What is the CDIC?
Canadian deposit-issuing subsidiaries are proud members of the Canada Deposit Insurance Corporation (CDIC). CDIC is a federal crown corporation – a part of the government of Canada – created by Parliament in 1967 to protect money on deposit in the event a member institution becomes insolvent. CDIC protects eligible deposits to a maximum of $100,000 per depositor and per insured category.
 
Coverage is free and automatic; customers do not have to apply for it. If a member institution failed, CDIC would reimburse insured deposits (including interest) up to $100,000 per insured category.
 
To be eligible for deposit insurance, a deposit must be:

• payable in Canada
• in Canadian, US, or foreign currency

Eligible deposits include:

• Savings accounts
• Chequing accounts
• Term deposits/guaranteed investment certificates (GICs)
• Money orders and bank drafts issued by a CDIC member institution
• Certified cheques
• Wires and drafts

CDIC’s membership numbered 85 members. Deposits insured by CDIC increased 14% year over year to $968 billion as of April 30, 2020. The growth in insured deposits reflects changes to CDIC insurance eligibility, which extended coverage to include eligible deposits held in foreign currency and eligible deposits with terms greater than five years, as well as the impact of the COVID-19 pandemic that saw an increased level of savings by Canadians

As of April 2020, CDIC's members reported total deposits of $4.6 trillion, of which $3.8 trillion is held in Canada with the rest held in foreign subsidiaries owned by our member institutions. Currently, $968 Bn in deposits are covered by CDIC.
Reference - 
https://www.cdic.ca/wp-content/uploads/cdic-2021-annual-report.pdf
 
IGV Bullion Account - Precious Metals International 

Why own Precious Metals?
Throughout history, physical precious metals have been characterized by their ability to save and preserve value. The purchasing power of a physical precious metal product has not only been maintained but has increased over time. Many respected analysts and legislators like Jim Rickards and Ron Paul estimate that the value of these products could multiply in the coming years, which could generate wealth in a secure and efficient manner. Today, one of the best ways to preserve capital and secure a more stable financial future, despite the global economic environment, is diversification in physical precious metals.
 
Why choose PMI
With PMI you can take immediate delivery, either to your home or into your account with PMI and:

1. Buy and Sell in all worldwide markets, plus the ability to place stop orders.
2. Store and diversify at independent, insured, allocated and secure depositories worldwide.
3. Trade-in 1-oz increments at wholesale prices and have instant liquidity of your product.
4. Take delivery of your product at any of our storage partners at any time.

Who We Are
Precious Metals International, Ltd. (PMI) is a leading wholesale provider of physical precious metals bullion products including gold, silver, platinum and palladium. All products are of Hallmark refineries and exchange approved to trade in all worldwide markets. PMI only offers physical bullion and does not deal in futures, options, securities or derivatives. Most jurisdictions do not require special licensing to trade physical bullion.
 
How We Work
All products purchased through PMI are physical and ready for immediate delivery to the client’s appointed destination, whether it is his or her residence or a personal safety deposit box. PMI retains storage contracts with the world's most respected valuables assurance companies such as Brinks, IDS, The Perth Mint, Strategic Wealth Preservation, Loomis, Malca-Amit among others, thereby giving the client the ability and option to store and maintain their product in alternate locations. The product is always available for sale or for access to a line of credit using the product as collateral.

To open a bullion account visit our landing page and click "open account" and follow the steps. If you need assistance please contact us at toll free @  833 221 4555 or complete a contact us form for more information. 

Rob McInerney 
International Gold Vault Ltd.