Questrade handles the calculation and withdrawal of monthly storage funds for you.
The storage fee is 1.25% of the total metal value per year and it is charged on a monthly basis.
For example, if you have $12,000 in total metal value at the end of the month, your monthly cost for storage would be as follows. $12,000 x 1.25% = $150 per year. For that month you would then take $150 and divide it by 12 which would be a monthly cost of approximately $12.50. This storage is calculated monthly and withdrawn from the cash balance within the individual registered account.
Please note we’ll always set aside 3% worth of cash (or more, if you choose) in your Registered account before placing a purchase to ensure you have enough cash to cover these storage.