How to buy gold online and pay by bank transfer: a step-by-step guide
Buying physical gold online takes a few minutes from choosing a coin to placing your order, and a bank transfer then completes it. This guide walks through each step, explains the difference between a wire transfer and ACH, and covers sales tax and what to check before you pay.
The short answer
To buy gold online, you choose a coin or bar, add it to your cart and lock a price at checkout. You confirm your order while the price is held, then pay by domestic wire transfer or ACH, quoting your order number. Once the payment reaches us, the gold is packed and shipped to you, insured, anywhere in the United States.
The rest of this guide explains each step, which type of transfer to use, and the sales tax, identity and safety points worth knowing before you buy.
Why people buy physical gold
People buy gold for different reasons. Some want part of their savings in an asset that isn't a promise from a bank or a company. Others like owning something they can hold in their hand, or want to spread their savings across different kinds of assets.
Gold has drawbacks too. Physical metal has to be stored and insured, you pay a premium above the market price when you buy, and its price can fall as well as rise. This guide explains how buying works; it isn't investment advice.
What you need before you start
- A US bank account in your own name. Payment has to come from an account held in your name (or your business's name, if you are buying for a business). Payments from anyone else are returned.
- An account with us. You'll need your full name, delivery address with ZIP code, email address and phone number. The name and address must match the person receiving the package, because insured deliveries need a signature.
- Your bank's transfer limit. Many banks limit how much you can send online in a day, and ACH limits are often lower than wire limits. Check yours before you order, so the payment isn't held up.
- For larger purchases, your ID. If your purchases reach $10,000 within 12 months, you'll be asked to verify your identity first. See identity checks below.
Step by step: buying gold on AU Trading
- Choose your gold. Browse coins and bars in the shop or start with the gold price chart. Each product page shows the weight, the purity and the premium over the market price. All prices are in US dollars.
- Add to cart and sign in. If you don't have an account yet, registering takes a minute. Your delivery address is saved for next time.
- Lock your price. When you check out, your total is fixed for 10 minutes. Metal prices keep moving, so this protects you from changes while you review your order.
- Place your order. Confirm the order while the price is locked. You'll see the bank details and your payment reference right away, and we email you a pro forma invoice with the same details.
- Pay by bank transfer. Send the exact amount from your own account within 2 days, by domestic wire transfer or ACH, quoting your order number as the payment reference.
- Receive your gold. Once the payment reaches us, we email your invoice and ship your order with insured shipping. It needs a signature on delivery, and you can follow its status and tracking in your account.
Paying by wire transfer or ACH
Both methods move money from your bank to ours. The difference is speed, cost and how much you can send.
| Method | Usual timing | Things to know |
|---|---|---|
| Domestic wire transfer | Usually the same business day, if sent before your bank's cutoff time | Many banks charge the sender a fee for outgoing wires. Some require you to set up larger wires by phone or in a branch. |
| ACH transfer | Typically 1–3 business days | Often free or low-cost. Daily and monthly ACH limits can be lower than for wires, so a large order may not fit in one transfer. |
Whichever you use, send the exact total shown on your order page and include your order number. Card, cash and check payments are not accepted.
Coins or bars?
Both contain the same metal; the difference is mainly the premium and how easy they are to resell.
- Bars usually carry the lowest premium per gram, and the premium falls as the bar gets bigger. The 100 g gold bar has the lowest premium in our gold range.
- Coins such as the American Eagle or the Canadian Maple Leaf cost a little more but are recognized by dealers across the country.
- Small bars from 1 g to 20 g let you buy gold in smaller amounts, at a higher premium per gram.
Identity checks for larger purchases
Dealers in precious metals in the US have anti-money-laundering obligations under the Bank Secrecy Act, as applicable, and screen customers against sanctions lists. On AU Trading, you'll be asked to verify your identity once your paid orders within 12 months reach $10,000, whether in one order or several.
Verification is done once, in your account. You'll be asked for:
- a government-issued photo ID, such as a driver's license or passport
- proof of address
- a few questions about the source of your funds and the bank account you'll pay from
- a signed declaration
For high-value or higher-risk transactions, we may also ask for proof of the source of funds. Your documents are stored encrypted. You can read more in our AML policy.
Sales tax: check before you buy
There is no VAT in the United States, and AU Trading currently charges no sales tax at checkout. State rules on precious metals vary: most states exempt investment-grade bullion, but some tax it, and some exempt it only above a certain amount. If your state taxes bullion, you may owe use tax yourself, even though no tax was charged when you bought.
Selling gold later can also have tax consequences. This guide can't give tax advice, so please check with a qualified tax adviser about your own situation.
Staying safe when you pay
- Only pay to the bank details shown on your order page and pro forma invoice. We will never send you new bank details by email, phone or messaging apps. If you receive a message saying our bank details have changed, contact us before you pay.
- Always quote your order number as the payment reference.
- We will never ask for your online banking password or a one-time code from your bank. Anyone who does is attempting fraud.
- Keep your account email secure. Your account email can't be changed, and we send security alerts to it when your password or delivery address changes.
Common questions
Can I pay by card?
No. Bank transfer, by domestic wire or ACH, is the only payment method. This keeps our premiums low and every payment traceable.
How long do I have to pay?
You have 2 days from placing your order. The deadline is shown on your order page and on your pro forma invoice. If you pay by ACH, send it early, since it can take a few business days to arrive.
Where do you deliver?
Within the United States only. Every package is insured and needs a signature on delivery.
Is the price fixed when I order?
Yes. Once you place your order within the 10-minute price lock, the price on your pro forma invoice is what you pay, however the markets move afterward.