FAQs

 

CAP

  • Who can certify my documents?

    The following persons are acceptable certifiers:

    • A lawyer or notary public who is a member of a recognised professional body
    • An accountant who is a member of a recognised professional body
    • A bank manager who is a member of a recognised professional body
    • A tax advisor who is a member of a recognised professional body
    • An embassy or consulate official of the country of issue of the documentary evidence of identity
    • A director of a regulated financial services business which is operating in a well-regulated jurisdiction
    • A serving police or customs officer.

    GoldMoney customers resident in Germany can use Postident as an alternative to certifying documents for a Full Holding.

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  • Can I add additional owners to my Holding?

    Yes, you may add additional owners to your Holding.

    You can add additional owners during the Holding sign up process or, if you choose to add another owner to your verified Holding at a later stage, the person would need to establish a Holding in their own name before being added to your Holding. 

    Request the additional owner(s) to establish a Holding online and to contact us afterwards. We will advise on the verification requirements of the newly established Holding. Once the Holding is verified, send a letter signed by all parties requesting to add the additional owner to your Holding.

    Although we can add additional owners to your Holding, we do not have the facility to add a beneficiary. We recommend you provide the executor of your estate with your ownership details. In the event of your passing, or if you become incapacitated, providing we are presented with a proof of death (i.e., a death certificate), a copy of the will or a power of attorney, we can provide access to the appropriate person(s) or act on instructions. 

    Any person who is given access to your Holding must comply with our Customer Acceptance Policy.

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  • Can I send scans of my CAP documents by email?

    We do not accept documents by email.

    If you wish to expedite the processing of your CAP documents then follow the steps exactly as indicated on our CAP page under the section titled Document Submission at the bottom of the page.

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  • How can I remove a Holding owner?

    We require an original letter requesting us to remove a Holding owner from a joint Holding. The letter needs to be signed by all Holding owners. Please send the letter to:

    Verification Team
    Net Transactions Limited (GoldMoney)
    1st Floor, 32 Commercial Street
    St Helier,
    Jersey
    JE2 3RU
    British Channel Islands (UK)

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  • How do I add a beneficiary to my Holding?

    Unfortunately we do not have the facility to add a beneficiary. You may want to make a record of your ownership of your Holding with the executor of your estate. In the event of your passing or if you become incapacitated, once power of attorney or proof of death (i.e., a death certificate) and a copy of the will is presented to us, we would provide access to the proper person(s) or act on their instructions.

    Alternatively, you could add any other person(s) to your Holding by making them a joint owner of the Holding. The first step is to establish a verified GoldMoney Holding in his/her own name by clicking on the ‘Free Sign Up’ button on our homepage. Please ensure the person selects the same Holding type, Basic or Full Holding, as your existing Holding. Once the Holding has been verified, please send a letter requesting to add the second owner to your Holding. Kindly include both Holding numbers in the letter and ensure the letter is signed by all parties.

    Our postal address is:

    Verification Team
    Net Transactions Limited (GoldMoney)
    1st Floor, 32 Commercial Street
    St Helier, 
    Jersey
    JE2 3RU
    British Channel Islands (UK)

    Following the receipt of your letter, your joint GoldMoney Holding will be activated. If the newly opened Holding is a Full Holding, it can either be closed down or left open as a separate individual Holding for future use.

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  • If I already have a Full Holding, what do I need to do to create a new Holding?

    To create a new Holding if you already have a Holding, first sign-up for a new Holding using the ‘Free Sign Up’ button at the top of any page on our website. Once you have opened the Holding and been issued a Holding Number, send us a message from your new Holding requesting us to transfer your details on file from your existing verified Holding to this new Holding. We will then advise if any further documents are required to complete the verification of your new Holding.

    Note: This only applies for customers with a Full Holding. Customers with a Basic Holding may not have multiple Holdings, but must instead upgrade their Basic Holding to a Full Holding first before creating a second Holding.

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  • How do I open a Holding as a sole trader?

    You can open an individual Holding as a sole trader. However, we require:

    • A bank statement or a legal document from a chamber of commerce confirming your ‘Trading as’ name for your sole-trader business
    • A brief description of the nature of your business

    To establish an individual Holding, click on the ‘Free Sign Up’ button on the top right hand side of our website and follow the instructions to apply for a Full Holding.

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  • How do I open an account for my children if they do not have a passport or driving licence?

    If your children are under 18, please open a Holding in the names of yourself and your child. As an identity document for your child, please submit a copy of the birth certificate. Also please send the required documents for yourself as requested for a Full or Basic Holding.

    If you already have a Holding, we can use the documents already on file. Please advise us of your previous Holding number when submitting the birth certificate.

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  • How does the CAP work?

    There are three CAP levels - Limited, Basic and Full. A Limited Holding has little functionality until you complete the CAP verification process. A Basic Holding enables you to transfer in funds and buy metals, but only up to a total value of US$150,000. A Full Holding gives you access to the full capabilities of GoldMoney, and allows you to buy and sell any amount of metals.

    Customers resident in any of the 44 'fast-tracked' countries can obtain the CAP level status of a Basic Holding. The advantage of a Basic Holding is that the sign up process is quick, entirely online and you can wire funds to GoldMoney from a bank account located in any of the fast tracked countries immediately after you have signed up.

    To obtain the CAP level status of a Full Holding, we need to verify your identity and place of residence. The verification process can be completed entirely online for customers resident in Canada, the United States of America or the United Kingdom using our online identity verification service provided by Equifax. Customers in other countries will need to send by mail a certified photo ID and proof of residence documents to verify their identities.

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  • How should I certify/notarise my documents as requested in the Customer Acceptance Policy (CAP) form?

    Your documents must be certified as a true copy by an authorised individual in your jurisdiction. 

    A complete list of acceptable certifiers can be found here

    The certifier must follow these instructions:
  • 1. A clear photocopy of the original document is required. Photographs must be copied so that the facial features in the photocopy are clearly visible;

    2. Please write the following on the photocopy: "I certify that this is a true and correct copy of a document in the possession of [insert name of applicant];"

    3. Sign your name below the above statement and print your name in capital letters below your signature. Please also include the date;

    4. Stamp each certified document photocopy with your business stamp; and

    5. Please provide all of the information requested above, and check that all these requests have been adhered to.

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  • I am having trouble downloading and viewing the forms from the CAP page. What should I do?

    Please make sure you have downloaded and installed the latest version of Adobe Acrobat Reader. This is a free program available from the Adobe website at:

    http://www.adobe.com/products/acrobat/readstep2.html

    You will need to install the latest version of Acrobat Reader in order to ensure that our forms can be opened and displayed correctly on your computer. Also, new versions are occasionally released to provide important security patches that help keep your computer safe from viruses and other destructive programs. You put your computer at risk by downloading and viewing PDF files without having the latest version of Acrobat Reader installed.

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  • I have sent my documents by airmail. How long will it take until my CAP documents are processed?

    It can take up to two weeks for airmail from North America to reach Jersey. We generally process documents within one business day of receiving them in the post.

    As soon as we have received and processed your documents, we will send you a confirmation message in the internal message system accessed from within your Holding. An email will be sent to the email address you registered with your Holding to inform you of the new message in your Holding.

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  • Is the CAP required for all customers

    Yes. We require that all customers - regardless of the size of their Holding - complete our CAP. GoldMoney must comply with established 'know-your-customer' regulations for financial institutions. These regulations help prevent GoldMoney from being used in illegal activities. Your data is kept safe and secure with GoldMoney in Jersey, Channel Islands. Under the Proceeds of Crime Law, which is the prevailing statute there, all financial institutions are required to verify the name and address of their customers and the source of the customer funds used in transactions with them.

    For more information, please see GoldMoney's Customer Agreement which states that 'As a condition of You becoming a Customer, You must comply with the Customer Acceptance Policy for verifying Your identity and the source of funds remitted to Us as described on the GoldMoney Website at: http://www.goldmoney.com/cap

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  • What should I do to open an account for a company or trust?

    All applicants wanting to open an account for a company and trust must first complete and send in an account application form prior to creating a Holding at GoldMoney. For more information please see our Corporate Customers page.
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  • What documents are acceptable for the photo ID requirement?

    Any of the following documents are acceptable for the photo ID requirement:

    • Passport
    • National ID card
    • Driving licence (residents of US, UK and Canada only)

    Please make sure that:

    1. The photocopy is clear so that the facial features in the picture are clearly visible.
    2. The document is issued by a government agency.
    3. The ID document has not expired.
    4. The photocopy is certified as a true copy by an authorised individual.
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  • What information do you collect to verify my identity (Full Holding)?

    To verify your identity, we request that you provide us with:

    1) A notarised/certified true copy of a government-issued photo ID such as a passport, national identity card or driving licence.

    2) An original or a certified copy of an utility bill, bank statement or tax bill on which your name and street address are printed.

    These documents are collected for verification purposes only and are not disclosed to outside parties for marketing or other purposes.

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  • What information do you collect to verify my identity (Basic Holding)?

    The verification of your Basic Holding is easy. Just enter the personal details during the online sign up for your Holding and provide us with:

    1) A scanned image of your photo ID (passport, national ID card or driving licence).

     

    2) A scan or screen shot of a bank statement or void cheque. A bank statement or account statement is a summary of financial transactions that have occurred over a given period of time. The document contains customer details and transactions over a specific period. Any amounts can be voided. A voided cheque has the word “VOID” clearly written on it. Voiding a cheque “disables” it so that it cannot be used.

    Any documents or personal details are collected for verification purposes only and are not disclosed to outside parties for marketing or other purposes.

    You can fund your Holding immediately after signing up and you can submit the above documents within 15 days after your funds are credited to your Holding.

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  • What is the purpose of GoldMoney's Customer Acceptance Policy (CAP)?

    Although GoldMoney is not a bank, most of the same personal information that you need to open a bank account is required to open a Holding at GoldMoney.

    GoldMoney has a Customer Acceptance Policy (CAP) to:

    • Prevent GoldMoney from being used in criminal activity (e.g., auction fraud, identity theft, etc.)
    • Enable GoldMoney to comply with the laws of country where it is located

    The above objectives are achieved by requiring and verifying personal information from new customers. Our CAP requirements depend on the type of Holding you want to open and your country of residence.

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  • Where do you keep CAP information

    Your information is kept at our administrative office in Jersey, British Channel Islands and will remain confidential. We will not release this information for marketing purposes. See our Privacy Policy for details.
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  • Who can be given access to my personal information

    Your personal information will be kept strictly confidential and will not be disclosed without your express consent except when GoldMoney is required to provide information pertaining to you in order to ensure compliance with any form of legal process or when GoldMoney is required, in order to fulfil its obligations in terms of the Customer Agreement, to disclose information pertaining to you to its agents or third-party business affiliates. For more information, please see our Privacy Policy.
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  • Can a doctor, teacher, surgeon or pharmacist/chemist certify my passport?

    We will only accept a certifier whose qualification is on our list of acceptable certifiers.

    Please see our list of acceptable certifiers here.

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  • Why do you ask for information on how I have generated the funds I intend to use to purchase precious metals with GoldMoney? What details do you need?

    GoldMoney, regulated by the Jersey Financial Services Commission as a Money Service Business, is obliged to hold due diligence information on its customers. The information includes address and contact details, details regarding occupation or employment status, and a confirmation of how the funds you intend to use to purchase precious metals with us have been generated. Depending on the volume and the rationale, we may require additional information and/or documents to prove the details given.

    Any reputable regulated financial organisation follows this procedure to protect customers’ assets, and provide assurance that customers are transacting with a secure and legitimate organisation.

    GoldMoney considers privacy to be an important property right and all customer records are stored safely and confidentially according to our Privacy Policy.

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