Brinks Depository Review
- 1 Brinks Depository Review
- 1.1 Overview
- 1.2 Company Background
- 1.3 Services
- 1.4 Why work with Brinks Depository?
- 1.5 👍Pros of Brinks Depository
- 1.6 👎Cons of Brinks Depository
- 1.7 Brinks Depository Alternatives
- 1.8 Bottom-line
Founder: Perry Brink
Number of locations: 650 branches worldwide
CEO: Douglas A. Pertz
Services: Cash management, payment solutions, route-based logistics
Brinks depository is a safe storage facility that stores valuable assets primarily precious metals. It has vaults all around the world and is managed by using an integrated software system.
The facility is equipped with armored vehicles and guards to protect its customers' assets.
The company offers full liability for the stored assets. If your shipped items get lost, damaged, or stolen then you will be compensated. Customers are allowed to choose in which vault location of the company to store their assets.
For IRS Eligible Metals
You can invest in precious metals from your IRA. However, it doesn't work like purchasing a box of bullion to store under the living room sofa. It is not allowed by IRS. Also, you can't keep purchased metals in your traditional IRA.
You need to open a precious metals IRA. A special type of IRA account that allows investors to keep their gold and other precious metal assets inside. Assets stored in these accounts must be stored in an IRS-approved depository.
The good news, Brinks is an IRS-approved depository. It serves with storing precious metals purchased by using an IRA and 401k.
For Valuables & Private Assets
Brinks depository is also preferred to store private investor's assets as well as other valuables. Its vaults are secure and monitored by armed guards.
Brinks did a number of things to make themselves easily accessible to clients and minimize the distance to their facilities. Their vault locations are planned to be close to the police departments for maximum security.
Brinks offers the most versatile service. They perform door-to-door logistics. For shipping, you can choose the road, air, or sea option. They also help you transfer your assets to deliver to your desired location.
Brinks uses its own tracking software. Owing to that, the company can track customers' assets to know where they are located at any time. Customers are offered the option of segregated or unsegregated storage.
Brinks is well-known because it provides custom storage to its customers. Their cutting-edge tracking system responds to all questions a customer may have.
Customers receive reports about their precious metals, including their shipping, delivery, and much more. Technology lets you enjoy better control of your possessions.
If you need your precious metals shipped to another location or depository, then you can trust Brinks. They take shipment security seriously as one of their core principles.
They don't want your goods to get damaged, lost, or stolen. That's why they transport them in armored vehicles and armed guards.
Customers receive real-time updates about shipping, inspection, tracking, and other valuable information.
Brinks offers its customers a prepaid Mastercard. It gives consumers the opportunity to gain control of their finances and get paid up faster by direct deposit of their paychecks or government benefits.
Brinks prepaid Mastercard comes with the following features:
- No Minimum Balance, No Late Fees
- No Credit Check
- Your funds held at Axos BankTM are FDIC insured
Why work with Brinks Depository?
There are many reasons to work with Brinks. But here are the most important features to know about.
1. Vaulting Systems
Brinks security offers you a segregated or allocated vaulting system. This means that they will store your precious metals in different vaults and will not be combined with those of other clients.
But you can also opt for allocated storage where your valuables will be stored alongside those of other clients.
2. Logistics and Security
Brinks has a vibrant logistics strategy and security to guarantee the safety of your items whether in custody or distribution.
Though the storage of the items in a depositary protects them against damages or stealing, there are still risks.
And since Brinks security has the best equipment and personnel, you are guaranteed the safety of your items and the insurance will compensate you for any lost items.
3. Higher Ratings
When you look at the customer ratings in the leading bureaus, you will find that most customers have written positive reviews of the company.
Though there are many alternatives out there, most have poor ratings and customer complaints on their quality of services. This is the reason many people choose Brinks as they also respond to customer queries on time.
4. Proper Licensing
For a precious metal depository to operate well and ensure minimal inconveniences to the customers, it should be well licensed and qualified. Brinks depository has the relevant certifications and licenses and also adheres to the tax laws.
5. Reliable customer care services
One of the aspects of a good company is the quality of its customer care services. Brinks depository has one of the best customer care agents in the precious metal depository industry.
They will respond to your questions and handle issues with professionalism and quickly. They are also knowledgeable and they are not pushy when convincing customers to purchase some packages or products.
And since you are dealing with expensive commodities, it’s important to choose an IRA company that is legit and trustworthy. And the first step is to check their customer care services.
👍Pros of Brinks Depository
- They offer full liability for their stored valuables
- Fast deliveries of precious metals and jewels to different locations
- The account owner can easily access their valuables
- Ability to check, track or manage your inventories through an online portal
- Industrial standard weighing practices
👎Cons of Brinks Depository
- They charge quite high storage prices
Brinks Depository Alternatives
We have a dedicated post explaining the best precious metal depositories in the US. However, we have compiled a few depositories that can be alternatives to the Brinks Depository.
Delaware depository is one of the best companies in the US which offers bullion processing and distribution of assets at the best prices. They boast of the best storage vaults located in places that are free from financial, political, or natural catastrophes.
You will also find their vaulting and warehousing systems state of the art and with advanced security features to ensure the safety and security of your items.
They have also installed modern monitoring systems and have armed guards working round the clock to keep their facilities safe. They also provide an insurance cover and are the best alternative to store your precious metals.
And you can opt for the segregated accounts or the unsegregated ones depending on your preferences.
HSC Banks USA
This is one of the best companies in the world to keep precious metals. It’s even the largest and has remained on top rankings since the year 2003 as the #1 storage company for gold, silver, and other precious metals.
Also, HSC banks were founded in 1817 and have stored precious commodities for thousands of individuals and corporations across the world,
When you store your valuables at HSC banks, you will enjoy 24/7 customer care services. Besides, it’s the largest custodian and vault for the storage of valuables across the world. Additionally, it doubles as the top precious metal exchange in the world.
Based in Bridgewater, Massachusetts, the CNT depository is one of the top sellers of gold to the federal government. It has been in the market for over 35 years and generates billions of revenue each year due to its storage and distribution with many government institutions.
Besides, it has 100% storage insurance for investors, small and large corporations. Looking at their storage facility, this a 1,400 square feet fortress with private and segregated storage.
JP Morgan Chase Bank NA
JP Morgan Chase Bank has been in the metal depository business for over 30 years, but it was only approved in 2011. Here, you will enjoy the modern, classic, and highly secure storage facilities that span top cities like London, and New York.
They also have a storage vault in Singapore, and they offer storage for precious metals such as gold, platinum, palladium, rhodium, and silver.
But since it was only approved recently, it contributes little revenue to the depository industry.
Well, if you live in Canada and looking for a storage vault, then ScotiaMocatta would be a great choice. It’s part of the Scotiabank, and it traces its start to 1671.
However, it stayed only started in 1997 and is now one of the best-approved depositories which provide storage for precious metals and documents. You can also visit our other post that shows you the best gold depositories in Canada.
International Depository Services
This IRS-approved depository service has two strategically located vaults in the US. One of their vaults is located in Texas, and another one is in Delaware.
Like the other depositories, they offer storage and transport for precious materials such as gold, silver, and palladium. One of their attractive features is their incredible price and customer care services.
Brinks depository is one of the best precious metal depository options in the United States. It provides storage and shipment of important commodities like gold, silver, and palladium.
Due to other robust and resilient security systems, they provide safety of the customers’ products whether in transit or storage.
Overall, it’s a reliable company for storing your valuables, but you can also opt for alternatives depending on your needs.