Frequently Asked Questions
In the future, when you are in need of assistance, you can reach a Client Solutions Specialist.
General
How to Open an Account?
If you're on the waitlist, you'll recieve an invite to the email we have on file with steps on the Account Opening Process.
How do I get my Debit Card?
We’re not quite there yet. This feature is currently in development and will be available soon. Please check back for updates.
How do I log in to my Account?
Visit us at BattleBank.com and click Login on the top right of the screen.
Where will I find a Battle Bank Branch Location?
Battle Bank is a digital bank. Our brick-and-mortar presence is limited to Upsala, Minnesota.
How to download the mobile app?
We’re not quite there yet. This feature is currently in development and will be available soon. Please check back for updates.
When will I receive my new Debit Card or Checks?
We’re not quite there yet. This feature is currently in development and will be available soon. Please check back for updates.
What is Battle Bank's Routing Number?
091918570
What are Battle Bank's daily account limits?
| Payment type | Product | Daily | Monthly |
| Originating ACH Limits (External Transfers) | All | $ 250,000.00 | $ 1,000,000.00 |
| MDC | Traditional IRA MMDA | $ 100,000.00 | $ 100,000.00 |
| MDC | Roth IRA MMDA | $ 100,000.00 | $ 100,000.00 |
| MDC | Business DDA | $ 50,000.00 | $ 250,000.00 |
| MDC | Personal DDA | $ 25,000.00 | $ 100,000.00 |
| MDC | Checkbook IRA DDA 401K | $ 50,000.00 | $ 250,000.00 |
| MDC | All CDs | $ 100,000.00 | $ 100,000.00 |
| Wire Limits | All | N/A | N/A |
| ATM | All - Non CD | $ 600.00 | N/A |
Cash Account
What is a High Yield Cash Account?
Essentially, it’s a checking, savings and money market account combined into one account. It pays a higher rate like a savings or money market account but it does not limit the number of transactions like a checking account. Think of it like a checking account that pays a higher rate.
What are the best ways to use my High Yield Cash Account?
It can be used as your everyday checking account and/or a traditional savings account. You get the best of both worlds. You can use it for your daily checking account needs, such as receiving direct deposits, making mobile check deposits from our mobile app, or paying bills as well as saving money for any purpose both short and long term. Either way, enjoy an industry-leading yield on all of your cash.
Am I charged an ATM Fee?
Battle Bank will refund up to $30 in ATM fees each month.
How is interest calculated?
We use the average daily balance method to calculate interest on your account. This method applies a periodic rate to the average daily balance in the account for the period. The average daily balance is calculated by adding the principal in the account for each day of the period and dividing that figure by the number of days in the period.
What if I need cash? What ATM can I use? And am I charged an ATM Fee?
You can rest assured that you always have access to cash through any ATM. If the ATM provider charges you a fee for using their ATM, we will refund up to $30 in ATM fees a month at the end of each statement cycle.
Can I deposit cash?
No. We don’t accept cash deposits. If you are someone that has cash on hand and needs to put it in the bank, we suggest keeping a checking account with a local bank and depositing the cash at their branch. Then, you can go to our online banking portal or mobile app, transfer those funds to your High Yield Cash Account.
When will I receive my new debit card or checks?
If you requested a debit card and/or your first order of checks, they will usually arrive in the mail within 10 business days after your account has been opened. If you need additional sets of checks, you can order more checks by logging onto online banking, the mobile app or by calling Client Solutions at 855-922-8853 (BATTLE).
How can I access the money in my High Yield Cash Account?
You can access your account, make payments or transfer money using Battle Bank online banking or the mobile app. Alternatively, you can:
- Use a debit card or checks for purchases and payments
- Make payments using free online Bill Pay
- Get cashback when you shop with your debit card and use your PIN
- Get cash from any ATM (remember will reimburse you up to $30/month if they charge you a fee)
- Transfer funds to and from Battle Bank to any other financial institution via electronic transfer
- Submit a wire transfer request online
- Set up automatic payments
- Request an Official Check
What is required to open an account?
Opening an account is quick and easy. All we need are a few pieces of information such as your name, home address and Social Security number. In some cases, we may need additional documentation like a copy of your driver’s license, a digital copy of your revokable trust or a current photo ID to verify your identity.
Is there a minimum deposit to open an account?
There is no minimum to open the account, but you need to maintain an average minimum balance of $5,000 in order to avoid a monthly fee.
Is my account insured by the FDIC?
All Battle Bank High Yield Cash Accounts receive industry-standard FDIC insurance of up to $250,000 per account holder (joint accounts are insured up to $500,000). For more information on FDIC insurance coverage, please visit fdic.gov.
CDs
What is a High Yield CD?
Our CDs are designed to meet the various short- and long-term savings needs of our clients. These accounts offer principal protection and higher returns than standard CDs offered at big-box banks.
Are there any fees to open or maintain a Certificate of Deposit (CD)?
There are no fees to open or maintain on a High Yield CD at Battle Bank.
What happens to my CD at maturity?
30 days before your CD maturity date, we’ll send you a notice of maturity. It’s a good time to think about whether you’d like to add funds, renew the CD, put the funds in a different CD or withdraw the funds.
Once the maturity date arrives, you get a 10-day grace period during which you can add funds, withdraw funds or change the term. If you don’t do anything, your CD is automatically renewed for the same term. Note that the APY may be different due to the rate environment. You can expect to receive a renewal letter after the grace period ends.
Can I close my CD prior to maturity?
Yes, a CD can be closed prior to maturity. The early withdrawal penalty is ¼ of the expected interest earned on the principal balance of the CD if the funds had not been withdrawn early.
Can I add funds to my CD at any time?
No. Once you open and fund your CD, you can’t add funds again until your CD matures, but you can schedule a transfer up to one year before the maturity date. When your CD matures, you’ll have a 10-day grace period, starting on your maturity date, to transfer funds or make other changes.
Business Banking
What is a Business High Yield Cash Account?
It’s a business checking, savings and money market account combined into one account. It pays a higher rate like a savings or money market account, but it does not limit the number of transactions like a checking account. Think of it like a checking account that pays a higher rate.
What is the difference between a traditional business checking account and a Battle Bank Business High Yield Cash Account?
Very little, other than you will actually earn interest. Our Business High Yield Cash Account is created for businesses to enjoy the benefits of a traditional business checking account while earning interest on your cash balances.
Does Battle Bank do a credit pull when I apply for a Business High Yield Cash Account?
No.
How much money do you need to open a Business High Yield Cash Account?
There is no minimum to open the account, but you would need to maintain an average minimum balance of $5,000 in order to avoid a monthly fee.
Can I use my personal bank account for my business?
Keeping your personal and business finances separate is considered best practice, so it’s a good idea to maintain accounts for each.
Can I deposit a check into my Business High Yield Cash Account?
Yes, our mobile app allows mobile check deposits for business owners. If your business receives a large number of checks on a monthly basis and you need a different deposit solution, please call a Business Banking Specialist.
Do I get a business debit card with my Business High Yield Cash Account?
A debit card will be mailed to you after a request is submitted.
What are the benefits of doing my business banking with Battle Bank?
Our suite of business solutions includes our Business High Yield Cash Account, which has all the capabilities your business needs and pays interest on your cash balances.
Do I earn interest on my cash balances?
Yes. Battle Bank is committed to offering highly competitive interest rates on every dollar in your Business High Yield Cash Account.
How is interest calculated?
We use the average daily balance method to calculate interest on your account. This method applies a periodic rate to the average daily balance in the account for the period. The average daily balance is calculated by adding the principal in the account for each day of the period and dividing that figure by the number of days in the period.
Are there any fees or minimums?
Yes, but very few. Please click the link for a listing of our fees.
Is my account FDIC insured?
Yes, Battle Bank is insured by the FDIC.
Can any business open a business cash account?
Businesses in the following industries are ineligible for banking solutions:
- Illegal gambling
- Pornography and paraphernalia
- Firearms and paraphernalia
- Illegal substances
- Other controlled substances (including medical marijuana, marijuana, cannabis and hemp) and paraphernalia
- Penny auction companies and bulk exchanges of virtual currency (e.g., cryptocurrency)
- Political campaigns
How do I deposit cash into my cash account with Battle Bank?
If you receive cash for your business, our recommendation is to maintain a checking account at a local bank, deposit your cash, and then transfer funds to Battle Bank to take advantage of the high yield and additional services.
I have a Canadian business. Can I still open a Business High Yield Cash Account with Battle Bank?
Yes. U.S. and Canadian businesses are eligible to open a Business High Yield Cash Account with Battle Bank. Canadian companies can also maintain Canadian dollar accounts, although current opportunities do not support many transactional features.
Foreign Currencies
What are Battle Bank’s trading hours?
You can get a quoted exchange rate Monday through Friday between 8:00 a.m. – 3:00 p.m. central time. If you are submitting a trade outside of those hours, on a holiday or a weekend, you will not receive a quoted rate.
How do I know the exchange rate I will get on my trade?
If you request your trade during Battle Bank’s trading hours, you will generally be presented with your exchange rate at the time of your trade entry, which we refer to as the Client Exchange Rate. The Client Exchange Rate is based on the application of our spread (which is generally less than 1%) to the Spot Rate available to us.
Can I withdraw foreign currency from my account?
Depending on which currency you own with Battle Bank, you can request to have the currency sent to another bank via wire transfer.
Please note some restrictions apply, namely for Non-Deliverable Currencies (e.g., Brazilian Real or Indian Rupee). Additionally, there could be circumstances in which it’s not possible to request a wire transfer. Please speak with a Currency Specialist at 855-922-8853 (BATTLE) for limitations.
It is not possible to withdraw paper foreign currency or a check denominated in foreign currency.
Can I deposit foreign currency to my account?
Depending on the currency, it could be possible to wire transfer foreign currency to your account. Please note some restrictions apply, namely for Non-Deliverable Currencies. Additionally, there could be circumstances in which it’s not possible to wire transfer foreign currency to Battle Bank. Please see the disclosures for more information. It is not possible to deposit physical cash or a check denominated in foreign currency.
Are foreign currency deposits FDIC-insured?
Yes, the foreign currency accounts are insured by the FDIC. However, you can lose principal as a result of the exchange rate movement between the currency you hold and the U.S. dollar. Please note that the foreign exchange market is a volatile environment, and values can fluctuate widely. If Battle Bank fails, the FDIC would insure the U.S. dollar value of your account based on FDIC published procedures.
If I have a foreign currency account, can I lose money?
Yes. When you convert your foreign currency to U.S. dollars or another foreign currency, you can end up with less money than you started with. The foreign exchange market and the exchange rates can be very volatile, so you should only deposit money that fits your risk tolerance.
I see on the site Open, Fund, Trade. What does that mean?
If you are interested in foreign currency or precious metals holdings with Battle Bank, the three-step process is simple.
Open: Complete the online account opening process to open your Global Markets Portfolio and High Yield Cash Account. The High Yield Cash Account will serve as your cash management account to fund any and all of your buy and sell trades for currency or metals.
Fund: Once your High Yield Cash Account is open, it’s time to fund it so you can make trades in your Global Markets Portfolio. You can transfer funds from an external account or use mobile check deposit function on our mobile app to fund your account.
Trade: After your High Yield Cash Account is funded, you are ready to place your first trade. Click the Global Markets Portfolio when logged in to online banking or the mobile app to execute your first trade.
Do I get any tax documents for my foreign currency accounts?
If there was interest earned, you will receive a 1099-INT. While we report interest earned to the IRS, you may still be responsible for determining and reporting gains or losses due to currency fluctuations. Please consult with your tax advisor for additional questions.
Can I use IRA money to buy foreign currency accounts?
Yes. You can invest through either a Roth or a Traditional IRA.
Is my currency account considered a foreign account for tax purposes?
No, none of the products in your account are considered an offshore account.
Precious Metals
What are Battle Bank’s trading hours?
You can get a quoted price for Allocated Metals Monday through Friday between 8:00 a.m. – 3:00p.m. central time. If you are submitting a trade outside of those hours, or on a holiday or weekend, you will not receive a quoted rate.
We do not provide quotes on unallocated orders as the price is always determined the next business day. You must place your trade before 3:00 p.m. central time Monday through Friday in order for it to execute the next business day. Trades submitted after 3:00 p.m. central time or on a holiday or weekend are considered to be placed on the following business day.
What types of precious metals does Battle Bank offer?
We offer the ability to trade both Allocated and Unallocated gold, silver, platinum and palladium.
Why do you offer Allocated and Unallocated Metals Accounts?
Allocated Metals Accounts generally appeal to those who are interested in buying specific types of coins or bars and taking delivery of those metals. You can also have Battle Bank store the metals for you. Please note there is a delivery fee charged whenever you request delivery, and there is a storage fee if you choose to store the metals with Battle Bank.
Unallocated Metals Accounts typically appeal to those more interested in taking advantage of the metal price movements rather than taking physical delivery of the metals. There aren’t any storage fees for Unallocated metals accounts, and you can convert to an Allocated Metals Account at any time (fabrication/delivery/storage fees apply once converted).
Am I buying physical metal with Unallocated Metals Accounts?
Yes. You own a portion of a pool of metals held by Battle Bank that’s stored on your behalf. While the metals are not segregated by individual ownership, Battle Bank does buy ounce-for-ounce physical metal, which means for every dollar you give us to trade, we buy the metal and have it stored.
Are there fees associated with precious metals accounts at Battle Bank?
There are fees associated with Allocated Metals Accounts. Fees are determined by the form of allocated metal that you are requesting as well as the method of storage.
Allocated Metals
Allocated Metals Accounts allow you to choose from several different types of bullion coins or different weights of metal bars. We calculate the Client Price (which is your price) by applying our Spread (which will generally be no more than 1%) to the Wholesale Price we determine is available to us for your trade. When you buy metals from us, the Client Price will be the Wholesale Price plus the Spread. When you sell metals to us, the Client Price will be the Wholesale Price minus the Spread. Wholesale Prices can be materially different from spot prices depending on factors such as fabrication cost, dealer fees, scarcity and general market demand.
If you choose to have your metal delivered to your residential address on file, a fee for shipping the specific metal to you would be charged. Please note metals cannot be shipped to a different mailing address or P.O. box. Delivery fees will be assessed as a percentage (see below) and are in addition to the price of the bullion metal:
- Gold = 1.0%
- Silve r= 1.5%
- Platinum = 1.0%
- Palladium = 1.0%
If you choose to store your allocated metal with Battle Bank, storage fees will apply. The storage fees are charged quarterly in arrears and are automatically debited from your Battle Bank High Yield Cash Account. Here are the annualized storage fees:
- Gold = 0.5%
- Silver = 0.5%
- Platinum = 0.5%
- Palladium = 0.5%
Unallocated Metals
There are no storage or delivery fees. That is one of the primary benefits of choosing an Unallocated Metals Account versus an Allocated Metals Account. If you change your mind and want to convert an Unallocated Metals Account to an Allocated Metals Account, we can easily do so for you. A premium and delivery or storage fees would apply.
For Unallocated Metals Accounts, the only fee you will incur is when you buy or sell out of your unallocated position, and that fee will be within 1% of the wholesale price obtained by Battle Bank from our institutional sources.
Are my metals accounts FDIC insured?
No. Since metals accounts are not deposit accounts, they are not insured by the FDIC.
If I just want to purchase metals, do I have to open a Battle Bank High Yield Cash Account?
Yes. We use our High Yield Cash Account as the account that moves money to and from other banks. Once money is deposited, you can buy and sell precious metals at Battle Bank. Also, if you are storing metals in an Allocated Account, the quarterly storage fee will automatically debit the High Yield Cash Account, so you will need to maintain a balance to cover those fees. An extra added benefit is your High Yield Cash Account will always earn one of the highest yields in the industry along with free transfers, bill pay, and mobile check deposit. We have developed this account to be your day-to-day operational bank account that gives you benefits on all your money.
Will I receive cost basis information on my precious metals?
While you won’t receive formal cost basis documentation, you will be able to perform your own calculations by using your monthly statements and trading history, which are available via online banking and the mobile app.
Will I get any tax documents at the end of the year if I sell metals in my Battle Bank precious metals account, and can I view them online?
Yes. If your account is not a tax-deferred account, a 1099-B will be issued for the sale proceeds of your metals account. Your 1099-B can be viewed online. For questions about tax reporting, you will need to consult your tax advisor.
Gold
What are the different ways I can buy gold at Battle Bank?
Battle Bank offers Allocated and Unallocated Metals Accounts in which you can purchase gold. With an Allocated Metals Account, you choose the specific type of gold coins or bars and then opt to either have Battle Bank store those metals for you (a fee will apply) or have them shipped to you (a delivery fee will apply). An Unallocated Metals Account allows the purchase of physical gold in bulk bullion form that cannot be delivered to you, but the pool of gold is held on behalf of all Unallocated Battle Bank clients at a pre-certified storage facility.
What are my options to buy gold in an Allocated Metals Account?
You can choose from a variety of coins as well as various bar options. Visit our Allocated Metals page to see current availability, send an email to [email protected], or call the Global Markets Desk at 855-922-8853 (BATTLE).
Do you sell collectible coins?
No. We do not sell collectible or numismatic coins.
Are there fees when I buy gold at Battle Bank?
The price you realize when buying and selling allocated or unallocated metals is typically within 1% of the wholesale price obtained by Battle Bank. If you have allocated metals and you opt to have Battle Bank store the metals for you, you will be subject to storage fees. If you decide to take delivery of metals, there will be a fee assessed at the time of the delivery request.
If I buy gold in an Allocated Metals Account, can you store it for me?
Yes.
If I have gold coins or bars in my possession, can you store them for me?
If you purchased coins or bars from Battle Bank, it could be possible for you to ship them back to Battle Bank and have us store them. Please note you will be responsible for paying the shipping and insurance costs to get them back to Battle Bank, and there could be additional costs to verify the authenticity of (assaying) the coins or bars upon their arrival. If you purchased coins or bars from a different dealer, we may be able to take them in for storage. If you would like to ask if your gold can be sent to Battle Bank, please contact the Global Markets Desk by emailing [email protected] or calling 855-922-8853 (BATTLE).
Can you deliver gold to my residence?
Yes. You can request delivery of your gold either immediately upon buying it or at any time down the road. Please note there will be delivery costs, and delivery can only be sent to the residential address on record. We cannot deliver to a different mailing address or P.O. box. Signature confirmation will be required upon delivery.
What is gold bullion?
Generally speaking, gold bullion refers to gold coins and bars used for investment purposes (instead of being graded or considered collectible or considered numismatic). For example, Gold American Eagle coins are typically considered one of the most popular bullion coins.
How do I pay when I buy or sell gold?
When you apply for a Global Markets Portfolio at Battle Bank, a High Yield Cash Account will be opened and will serve as your primary cash management account. This will be the funding account for all precious metals transactions.
Are Precious Metals accounts IRA eligible?
There are a variety of coin and bar options considered eligible for an IRA. Unallocated metals are not eligible. Please note with a Precious Metals IRA, we must store the coins for you.
Can I put gold in my Traditional or Roth IRA?
Yes, but there are certain restrictions. Not all types of coins and bars can be purchased with retirement funds, and you would need to store the metals with Battle Bank. To determine which bullion coins and bars are IRA eligible, go to our Allocated Metals page. Please note that unallocated metals cannot be held in an IRA.
Can I put gold in my Self-Directed IRA or Solo 401(k)?
Yes, but there are certain restrictions. Not all types of coins can be purchased with retirement funds, and you would need to store the metals with Battle Bank. To determine which bullion coins and bars are IRA eligible, go to our Allocated Metals web page. Please note that unallocated metals cannot be held in an IRA.
Other Metals
What are my options to buy precious metals in an Allocated Metals Account?
We have a variety of gold, silver, platinum and palladium coin and bar options available for purchase. Visit the Allocated Metals page to see current availability, send an email to [email protected], or call the Global Markets Desk at 855-922-8853 (BATTLE).
What are the different types of ways I can buy precious metals at Battle Bank?
Battle Bank offers Allocated and Unallocated Metals Accounts in which you can purchase bullion. With an Allocated Metals Account, you choose the specific type of coins or bars and then opt to either have Battle Bank store those metals for you (a fee will apply) or have them shipped to you (a delivery fee will apply). An Unallocated Metals Account allows the purchase of the physical metal in bulk bullion form that cannot be delivered to you, but the pool of gold, silver, platinum or palladium is held on behalf of all unallocated Battle Bank clients at a pre-certified storage facility.
What are my options to buy metals in an Allocated Metals Account?
You can choose from a variety of coins as well as various bar options. Visit our Allocated Metals page to see current availability, send an email to [email protected], or call the Global Markets Desk at 855-922-8853 (BATTLE).
Do you sell collectible coins?
No. We do not sell collectible or numismatic coins.
Are there fees associated when I buy precious metals at Battle Bank?
The price you realize when buying and selling allocated or unallocated metals is typically within 1% of the wholesale price obtained by Battle Bank. If you have allocated metals and you opt to have Battle Bank store the metals for you, you will be subject to storage fees. If you decide to take delivery of metals, there will be a fee assessed at the time of the delivery request.
If I buy precious metals in an Allocated Metals Account, can you store it for me?
Yes.
If I have silver, platinum, or palladium coins or bars in my possession, can you store it for me?
If you purchased coins or bars from Battle Bank, it could be possible for you to ship them back to Battle Bank and opt to have us store them. Please note you will be responsible for paying the shipping and insurance costs to get them back to Battle Bank, and there could be additional costs to verify the authenticity of (assaying) the coins upon their arrival. If you purchased coins or bars from a different dealer, we may be able to take them in for storage. If you would like to ask if your metals can be sent to Battle Bank, please contact the Global Markets Desk by emailing [email protected] or calling 855-922-8853 (BATTLE).
Can you deliver precious metals to my residence?
Yes. You can request delivery of your metals either immediately upon buying them or at any time down the road. Please note there will be delivery costs, and delivery can only be sent to the residential address on record. We cannot deliver to a different mailing address or P.O. box. Signature confirmation will be required upon delivery.
What is bullion?
Generally speaking, bullion refers to coins and bars created and used for investment purposes (instead of being graded or considered collectible or considered numismatic). For example, American Eagle coins are typically considered one of the most popular bullion coins.
How do I pay when I buy or sell precious metals?
When you apply for a Global Markets Portfolio at Battle Bank, a High Yield Cash Account will be opened and will serve as your primary cash management account. This will be the funding account for all precious metals transactions.
Can I put precious metals in my Traditional or Roth IRA?
Yes, but there are certain restrictions. Not all types of coins or bars can be purchased with retirement funds, and you would need to store the metals with Battle Bank. To determine which bullion coins and bars are IRA eligible, go to our Allocated Metals page. Please note that unallocated metals cannot be held in an IRA.
Can I put precious metals in my Checkbook IRA or Solo 401k?
Yes, but there are certain restrictions. Not all types of coins can be purchased with retirement funds, and you would need to store the metals with Battle Bank. To determine which bullion coins and bars are IRA eligible, go to our Allocated Metals web page. Please note that unallocated metals cannot be held in an IRA.
Allocated Metals
If I buy coins from you and take delivery, can I sell them back to you?
Yes, we can buy back bullion coins or bars that were purchased from Battle Bank, but we are not obligated to do so. If we are able to buy them back, you will be responsible for paying the shipping and insurance cost to get them back to Battle Bank, and there could be additional costs to verify the authenticity of (assay) the coins or bars upon their arrival. Once the metals have been received, verified and deposited into your account, you can opt to sell the metals. Once sold, the sale proceeds will be deposited into your High Yield Cash Account.
What types of metals do you sell?
We offer gold, silver, platinum and palladium.
Can I lose money?
Yes, you can lose money. Please note precious metals accounts are not FDIC-insured, nor are they principal protected.
Are precious metals accounts IRA eligible?
Yes, select bullion coins and bars are eligible to be held in a Battle Bank Allocated Metals Account within an IRA. Please note that coins and bars held in an IRA must be custodied by us on your behalf and will incur storage fees.
Can I use my metals holdings as a distribution from my IRA?
Yes, you can take a distribution from your precious metals IRA and take delivery to your residential address on record. Delivery fees will apply.
Do you sell numismatic and rare coins?
No, Battle Bank does not sell numismatic, collector or rare coins. Instead, we handle standard bullion coins.
Unallocated Metals
What is an Unallocated Metals Account?
An Unallocated Metals Account is bulk bullion purchased by Battle Bank and stored within a pre-certified storage facility on behalf of all clients with Unallocated Metals holdings. The benefit of an Unallocated Metals Account is that no fabrication or storage fees are incurred. However, Unallocated Metals cannot be delivered to you, and we are required to hold the amount of metal purchased by our unallocated account clients.
What is the difference between a precious metals Unallocated and Allocated account?
With an Allocated Metals Account, you choose the specific type of coin or bar and then opt to either have us store those metals for you or have them shipped to your residential address on record. An Unallocated Metals Account is the purchase of physical metal in bulk bullion form that cannot be delivered to you but is purchased and consolidated with all other unallocated metal client holdings.
What types of precious metals are available in an Unallocated Metals Account?
Gold, silver, platinum and palladium can be purchased and sold in an Unallocated Metals Account.
Does Battle Bank have all the unallocated metals that its clients have paid for in its possession?
Yes. When you buy unallocated metals, you are buying physical metal, which means Battle Bank buys that amount of physical metal and stores it. Battle Bank has 100% of the unallocated metals our clients have purchased.
Can I take delivery of my Unallocated Metals?
You can’t take delivery of unallocated metals. However, you can convert your Unallocated Metals Account to an Allocated Metals Account at any time and then take delivery. As an example, if you owned 10 oz of gold in an Unallocated Metals Account, you could request to have the account converted to an Allocated Metals Account and that 10 oz of gold converted to a 10 oz gold bullion bar or 10 gold American Eagle 1 oz coins and shipped to your address on record. Please note there are certain costs for converting to an Allocated Metals Account and taking delivery.
What’s the advantage of buying Unallocated Precious Metals?
Unallocated Metals Accounts usually appeal to those who want to buy physical metal but don’t have an interest in taking delivery or paying the higher costs generally associated with Allocated Metals Accounts. Keep in mind you can convert from an Unallocated Metals Account to an Allocated Metals Account at any time.
Can I put unallocated precious metals in an IRA with Battle Bank?
No. Unallocated metals are not considered IRA eligible.
Are there any fees when buying or selling unallocated precious metals?
The price you realize when buying and selling unallocated metals is typically within 1% of the wholesale price obtained by Battle Bank.
Precious Metals Line of Credit
What is the Battle Bank Precious Metals Loan program?
Battle Bank offers a revolving line of credit secured by your gold and silver bullion holdings in Battle Bank controlled storage. This line of credit allows you to leverage a portion of the current cash value of your metals holding to use without having to sell the metal itself.
Are allocated and unallocated gold and silver holdings eligible to be used as collateral?
Battle Bank will accept allocated gold and silver bullion in a Battle Bank’s storage facility to be pledged as collateral for our Precious Metals Loan. We will also allow an unallocated position acquired from Battle Bank to be used as collateral for this program. Unallocated positions held with another dealer cannot be used as collateral for a Battle Bank Precious Metals Loan because there is no way for the bank to properly perfect a lien interest in the metals.
What is the Battle Bank Precious Metals Line of Credit program?
Battle Bank offers a revolving line of credit secured by your gold and silver bullion holdings in Battle Bank-controlled storage. This line of credit allows you to leverage a portion of the current cash value of your metals holding to use without having to sell the metal itself.
Are allocated and unallocated gold and silver holdings eligible to be used as collateral?
Battle Bank will accept allocated gold and silver bullion in a Battle Banks storage facility to be pledged as collateral for our Precious Metals Line of Credit. We will also allow an unallocated position acquired from Battle Bank to be used as collateral for this program. Unallocated positions held with another dealer cannot be used as collateral for a Battle Bank Precious Metals Line of Credit because there is no way for the bank to properly perfect a lien interest in the metals.
What are the basic terms of the Precious Metals Line of Credit?
TERM: Five-year revolving line of credit.
PAYMENTS: Monthly interest-only payments.
INTEREST RATE: Prime Rate as quoted in The Wall Street Journal (Index) plus 2.75% (spread) floating daily if you have a bank account from which the monthly payment is automatically deducted. If you do not set up an automatic payment, the interest rate will be Prime Rate plus 3.25%.
FEE: A fee of 0.167% of the Available Margin Cap will be charged at origination and at each loan anniversary so long as the line is in effect. The fee will be charged at each loan anniversary unless the client “opts out” and wants to close out their line of credit.
ACCEPTABLE COLLATERAL: Acceptable collateral consists solely of the following high-quality, widely recognized and highly liquid precious metal products, in each case acceptable to the bank in its sole discretion and meeting minimum purity, marketability and custody standards.
Approved Government-Minted Bullion Coins
Legal tender bullion coins issued by sovereign mints, standard bullion strikes only (not proofs, special editions or collectibles), limited to the following:
Gold Coins
The following gold sovereign bullion coins are acceptable in standard fractional and 1-oz denominations:
- American Gold Eagle
- American Gold Buffalo
- Canadian Gold Maple Leaf
- Austrian Gold Philharmonic
- British Gold Britannia
- Australian Gold Kangaroo
- South African Gold Krugerrand
Silver Coins
- American Silver Eagle
- Canadian Silver Maple Leaf
- Austrian Silver Philharmonic
- British Silver Britannia
- Australian Silver Kangaroo
- South African Silver Krugerrand
Approved Bullion Bars
Investment-grade bullion bars produced by LBMA-approved, COMEX/NYMEX-approved or otherwise recognized refiners, clearly stamped with refiner name, metal type, weight and purity, limited to the following sizes:
- Gold: 1 oz, 10 oz
- Silver: 10 oz, 100 oz
Conditionally Accepted Silver Rounds
- 1 oz silver rounds may be accepted only on a case-by-case basis, subject to prior written approval by the bank.
- Silver rounds must be delivered exclusively in original, manufacturer-sealed “monster boxes”, with seals intact and verifiable, and must meet the Bank’s minimum purity and marketability standards.
- Acceptance of any silver rounds is selective, non-precedential, and does not obligate the Bank to accept the same manufacturer, product, or packaging in the future.
- The Bank reserves the right to impose enhanced verification, authentication, assay, quantity limits, custody requirements, and valuation discounts with respect to any silver rounds accepted.
General Requirements
- All collateral must meet or exceed the Bank’s minimum fineness requirements for the applicable metal provided that standard sovereign-minted alloyed gold bullion coins (including American Gold Eagles and South African Krugerrands) are acceptable notwithstanding their lower fineness, as their value is derived from total precious metal content.
- All collateral must be in good, marketable condition and acceptable to the bank upon inspection.
- The bank reserves the right to require testing, third-party authentication or assay at the borrower’s expense.
- Collateral shall be valued solely based on the prevailing spot price of the underlying metal, net of applicable discounts applied in accordance with the bank’s collateral valuation policies.
- Numismatic, collectible, proof and premium value are expressly excluded from valuation.
STORAGE: Collateral must be stored in a Battle Bank-controlled account with a Brink’s or a domestic storage facility at the client’s expense. If you are referred by an approved dealer, you will continue to receive statements from them and be billed for storage by them.
DAILY COLLATERAL VALUE: The spot price of the metal(s) (as obtained from Bloomberg as of 3:00 p.m. central time) times the quantity in ounces of precious metal(s) being pledged. Note: For the purposes of calculating the advance margin, maintenance margin, or liquidation margin, the daily collateral value from the most recent prior business day will be used.
ADVANCE MARGIN: Advances are limited to 50% of the Daily Collateral Value. Advance requests will be limited to the lesser of 50% of the Daily Collateral Value on the day prior to the advance, or the Credit Limit, whichever is lower.
AVAILABLE MARGIN CAP and AVAILABLE MARGIN: Your Available Margin Cap is calculated to equal 75% of the Daily Collateral Value as of the last business day before the date of the Note Date. The Available Margin Cap does not change. Your Available Margin is calculated daily to equal the lesser of 50% of the Daily Collateral Value or the Available Margin Cap. Your Available Margin Cap and Available Margin are disclosed in your online account portal and are included in this Agreement by reference. We will also disclose your Available Margin Cap and current Available Margin on your online account portal. For example, if the value of the collateral is $100,000, you may advance up to $50,000. The available margin changes every business day based on the Daily Collateral Value.
If a client adds additional collateral or the spot price has increased such that a client wants to increase the credit limit of the line, a Change-In-Terms (CIT) agreement must be executed to make this change. There may be fees associated with adding or subtracting collateral for the line of credit.
MARGIN MONITORING: The value of collateral will be monitored daily. Maintenance Margins will be monitored during the business week with a daily cut-off time of 3:00 p.m. Central Time.
COURTESY NOTICE: A notice to the borrower that they are approaching a Margin Call. Courtesy Notices will be sent to borrowers when the Margin reaches 65%. No action is required.
MAINTENANCE MARGIN CALL: If the Margin reaches the Maintenance Margin of 75%, the client will be notified of the Margin Call with a Margin Call Notice, and they will have three (3) business days to cure. To cure a Margin Call, the client must pay down the principal balance on the line of credit such that the margin, based on the Daily Collateral Value as of the date of the Margin Call Notice, is reduced to equal 70% or less. Margin Call notices will be sent out via email on the day of a margin breach.
LIQUIDATION MARGIN: If the Margin reaches the Liquidation Margin (90%), the bank will immediately liquidate all the collateral in order to repay the line of credit. Any excess cash proceeds after the bank has been paid in full will be returned to the Borrower.
IRAs
What is a Traditional IRA?
A Traditional IRA is a retirement savings account designed to help you set aside funds for the future with potential tax advantages. Contributions may be tax deductible depending on your income and participation in a workplace retirement plan. Funds generally grow tax deferred, meaning taxes are typically paid when money is withdrawn in retirement.
What is a Roth IRA?
A Roth IRA is funded with after tax dollars, so contributions are not tax deductible. The benefit comes long term—qualified withdrawals in retirement are tax free. Roth IRAs are not subject to required minimum distributions during the account holder’s lifetime, allowing assets to remain invested longer if desired.
How much can I contribute to an IRA in 2026?
For 2026, eligible individuals may contribute up to $7,500 annually to all IRAs. Individuals age 50 or older may contribute an additional $1,100 catchup, for a total of $8,600. High-earning individuals may only be eligible to contribute to a Traditional IRA.
What investments can I hold in an IRA?
IRAs allow for broad investment flexibility. While the IRS places limits on a small number of asset types, many traditional and alternative investment options may be held, depending on how the IRA is structured and the platform used. Battle Bank Checkbook IRAs may hold investments such as tax liens, specific types of precious metals, real estate, crowdfunded investments, private businesses, REITs, and more!
What is Battle Bank’s role in my IRA?
Battle Bank serves as the custodian of your IRA. As custodian, Battle Bank facilitates account activity including contributions, transfers, rollovers, and distributions—and completes all required tax reporting—so your retirement account stays compliant and properly administered.
How do I move money from another IRA or employer sponsored plan to Battle Bank?
After your account is opened, transfers and rollovers can be completed through Battle Bank’s online banking platform using a guided, step-by-step process designed to make moving your retirement funds straightforward and secure. Our retirement specialists are ready to help with the required documentation as well as facilitate a smooth transition.
How do I make an annual IRA contribution?
To make an annual contribution, write a check payable to:
“[Your Name] IRA, Battle Bank Custodian”
and submit it using mobile check deposit into your IRA account. During the deposit process, you can select the contribution year.
How do I take a distribution from my IRA?
Distributions can be requested through online banking. Our retirement specialists will assist you in completing the documentation required to take your distribution. Depending on the IRA type and timing, distributions may be taxable. Battle Bank handles required tax reporting for all distributions.
How do I designate or update beneficiaries?
Beneficiaries can be added or updated at any time through online banking. Keeping this information current helps ensure your retirement assets are passed on according to your wishes.
Checkbook IRAs
What is a Checkbook IRA?
A Checkbook IRA is a self-directed IRA structure designed for investors who want greater control over where and when their retirement funds are invested. This structure allows investment decisions to be executed directly by the account holder, while maintaining compliance with IRS rules. This vehicle is especially popular with real estate investors, but there are many other types of investments allowed.
How is a Checkbook IRA different from a Conventional IRA?
With a Conventional IRA, investments are typically executed through a custodian’s platform. A Checkbook IRA is structured to provide more direct access to investment execution, often expanding the range of available investment opportunities.
What is Battle Bank’s role in my Checkbook IRA?
Battle Bank serves as the IRA custodian and facilitates all required retirement account activity, including contributions, transfers, rollovers, and distributions. Battle Bank also supports the account structure that enables checkbook control.
How many accounts will I have?
A Checkbook IRA typically includes:
- An IRA account, used for contributions, transfers, and distributions
- An LLC checking account, used to make investments and receive proceeds
Each account serves a distinct purpose within the overall structure. New contributions, rollovers, and transfers are first received and recorded in the IRA account. All funds can then be moved to the LLC checking account where the IRA accountholder will direct the funds into the investment of their choice.
When it comes time to take distributions from the Checkbook IRA, funds will move from the investments back into the LLC account. Once funds are in the LLC checking account, they can be moved to the IRA account, and then Battle retirement specialists will assist with completing all documentation, processing, and reporting of the distribution.
My account is funded. What are the next steps?
IRA contributions should always be deposited into the IRA account—not the LLC checking account. Once your IRA is funded, funds are transferred to the LLC checking account. Investments are then made directly from that account via check, ACH or wire directly to the investment. All investments are made in the name of the LLC, and you as the manager of the LLC will be responsible for opening investment accounts, and making each investment.
How should investments be titled?
Investments should be titled in the name of the LLC owned by the IRA. Assets should never be titled personally, as all investments must remain owned by the retirement structure. If a signature is required, you will sign as the manager of the LLC.
Are there restrictions?
Certain transactions are restricted under IRS rules. Understanding these boundaries is important to preserve the tax advantaged status of the account.
What are the fees?
Onetime setup fee: $499
Monthly maintenance fee: $20
Solo 401(k)
What is a Solo 401(k)?
A Solo 401(k) is a retirement plan designed for self-employed individuals and business owners, including businesses where a spouse is the only other employee. It provides many of the benefits of a traditional 401(k) while offering greater control over contributions and investments.
Who is eligible for a Solo 401(k)?
Solo 401(k) plans are available to individuals with self-employment income or business owners who have no fulltime employees other than a spouse who works for the business.
What are the contribution limits for 2026?
Solo 401(k) plans offer higher contribution limits than IRAs:
- Employee contributions: Up to $24,500, or $32,500 if age 50 or older
- Total contributions: Up to $69,000, or $77,000 if age 50 or older, depending on compensation
If a spouse works in the business, they may also contribute based on their own earnings.
How are Solo 401(k) contributions calculated?
Contributions include both employee and employer components and must be based solely on income from the business that sponsors the plan. Contribution amounts vary by business structure and compensation.
What investments can I make with a Solo 401(k)?
A Solo 401(k) can be used to invest in a wide range of assets, provided those investments align with IRS rules and plan guidelines.
How are investments titled?
All assets are titled in the name of the Solo 401(k) trust, not in the individual’s name.
What are the fees?
Onetime setup fee: $299
Monthly maintenance fee: $15
Choosing the Right Retirement Account
Every retirement strategy is different. Each account type offers unique advantages, contribution limits, and planning considerations. Working with a qualified CPA or tax professional can help determine which retirement account—or combination of accounts—best supports your long-term goals.
