FAQs

 

Transfers and funds

  • Can I keep different currencies with different amounts in the Customer Segregated Funds Account?

    Yes, you can sell/convert metals into more than one currency in any amount you choose. You may also wire in funds in any of the supported currencies.
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  • Can I transfer funds from a joint bank account to an individual Holding?

    We accept funds from individual and joint bank accounts for joint Holdings, provided the bank account owners are also named owners of the Holding.
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  • Can I transfer funds from both individual and joint bank accounts into joint Holdings?

    We accept funds from individual and joint bank accounts for joint Holdings, provided the bank account owners are also named owners of the Holding.
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  • Can I use multiple bank accounts to transfer funds?

    Individual Holdings: We can only accept funds from a bank account held in your name. Your name must appear on the bank details of the wire transfer.

    Joint Holdings: We can accept funds from bank accounts owned separately or severally. Your name(s) must appear on the bank details of the wire transfer.

    Corporate Holdings: Transfers to Corporate Holdings must come from a bank account in the name of the company. The company name must appear on the bank details of the wire transfer.

    If your name is not quoted on the wire details we receive from your bank, we may need to contact you to request a bank document that confirms that the funds come from a bank account in your name. If the originating bank account is held in a different name than your Holding, we have to return your funds.

    We cannot accept funds from a bank account in the name of a Living Trust or a Revocable Family Trust. Further, we cannot accept transfers from brokerage accounts to Basic Holdings.

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  • Do you pay interest on the currency balance in my Holding?

    GoldMoney does not pay any interest on Holding balances held in national currencies.
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  • How can I cancel an Add Funds request?

    Fund transfers not completed within 15 days will be automatically cancelled and removed from the list of pending transfers in your Holding. Completed fund transfers will be removed from the list 7 days after your funds have been received. A record of the transfer will remain archived in the ‘History’ section of your Holding.
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  • How can I ensure the correct currency is placed in my Holding?

    Instruct your bank to send your funds in the correct currency. Some banks convert your funds into GBP as we are based on the British Channel Island of Jersey.

    For example, if you want to send USD to your GoldMoney Holding, you will need to make sure the payment is sent in USD to avoid any currency exchange or other fees charged by the banks involved in the transfer.

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  • How can I fund my Holding?

    You can fund your Holding by initiating a wire transfer from your bank account. We are unable to debit your bank account or accept cheques or cash. You will receive our bank details and a reference number when placing an Add Funds request in your Holding.

    We accept the following currencies: United States dollars, British pounds, euros, Canadian dollars, Japanese yen, Swiss francs, Australian dollars, New Zealand dollars and Hong Kong dollars to your Holding. Ensure your bank transfers the correct currency.

    Funds must come from a bank account in your name. A wire transfer is usually received within 2-6 business days. We will inform you by email once the funds are credited.

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  • How can I retrieve the wire transfer instructions after I have placed an Add Funds request?

    In the Holding menu, select ‘Accounts & Transfers’ > ‘Add Funds’ to view any pending add funds requests. Click on the link at ‘Bank Location’ to display the wire transfer instructions.
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  • How do I change my bank account details?

    Basic Holding: You can link one bank account to your Basic Holding. Once your Basic Holding has been funded, we are unable to change the bank wire details with the exception that the existing bank account has been closed. If so, kindly send a message from your Holding confirming the latter and the new bank account details. Please note that we also require a closing statement or letter from your bank for the closed bank account and a bank statement or blank cheque for the new bank account which can be sent to This email address is being protected from spambots. You need JavaScript enabled to view it. . For unfunded Holdings, kindly inform us of the changes and we will then amend the details on your behalf. Please be advised that we also may require an additional bank document.

    Full Holding: You can link up to 5 bank accounts to your Full Holding. You can either delete existing bank account details or simply add another bank account to your Full Holding. To do so, select Accounts & Transfers > My Bank Accounts from the menu in your Holding. Once the details have been entered, they can not be amended.

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  • When I 'Remove Funds' from my Holding, how long will it take before this money is received in my bank account?

    Requests received before 2:30 p.m. GMT (9:30 a.m. Eastern US Time) will be processed the same day and requests received after the 2:30 p.m. cut-off time will be processed the following business day.

    BACS/FASTER payments (UK bank accounts only) usually take up to 3 business days to appear in your account. CHAPS payments (UK bank accounts only) are typically in your bank account within 1 business day.

    Euro area (SEPA) transfers usually take 1-2 business days before funds arrive in your bank account.

    Bank wires are generally received within 2-3 business days, but can take longer depending upon your bank's location (i.e., some international bank wires may take 3-4 days before the proceeds appear in your account).

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  • Is there a limit on how much money I can send to my Holding?

    If you have a Basic Holding, you are limited to transferring in a total of US$150,000 or the equivalent amount in any of the other currencies we accept.

    If you have a Full Holding, you can add any amount, and at any time ask that the entire balance in your Holding or any part thereof be transferred to your bank account. GoldMoney reserves the right to request further information on the source of the funds you send to us in order to fulfill the requirements of our CAP.

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  • May I transfer funds from the bank account of my Living Trust into my personal GoldMoney Holding?

    As it is GoldMoney's policy not to accept third party funds transfers, we will only accept wires if they are received from a bank account in the same name as the GoldMoney Holding.

    Funds that are received from a Living or Revocable Family Trust are by definition trust assets. Therefore, if the GoldMoney Holding is in the name of an individual, we cannot apply the Trust funds to the GoldMoney Holding.

    If you wish to remit Trust funds to your GoldMoney Holding, you will first need to send the funds from the Living Trust's bank account to your own personal bank account, then wire the funds from your personal bank account.

    Unfortunately, as we cannot make any exceptions to this policy, funds which are received from a Living Trust bank account and are intended for an individual Holding will be returned to the originating bank account.

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  • My Add Funds request is not shown on my Holding. Why?

    Fund transfers not completed within 15 days will be automatically cancelled and removed from the list of pending transfers in your Holding. Completed fund transfers will be removed from the list 7 days after your funds have been received.  A record of the transfer will remain archived in the ‘History’ section of your Holding.
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  • What is a SEPA Payment?

    GoldMoney is utilising Single Euro Payments Area (SEPA) Credit Transfers to send funds in euro to bank accounts that are held within the SEPA group of countries. The payment system is designed to allow the seamless transfer of funds across traditional boundaries such as national borders with the same ease as a domestic payment.
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  • Can I use SEPA to send and receive payments?

    If you bank account is based in one of the 33 participating European Countries (and their territories), and you wish to transfer euros, you may be able to use SEPA. Our banks will accept SEPA payments on the conditions that our BIC code, IBAN and account name are correctly quoted. These details are available upon completion of an "Add Funds Transfer Request (AFTR)". 
  • You can choose to have payments sent to you by SEPA Credit Transfer. We will endeavour to use this payment method wherever possible, however if you bank cannot accept funds by this method we will send payments to you by wire transfer.
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          • Which countries make up the SEPA group?

            There are 33 European countries (and their territories) that make up the SEPA: 

              • Aland Islands
              • Austria
              • Azores
              • Belgium
              • Bulgaria
              • Canary Islands
              • Croatia
              • Cyprus 
              • Czech Republic
              • Denmark
              • Estonia
              • Finland
              • France
              • French Guinea
              • Germany
              • Gibraltar
              • Greece
              • Guadeloupe
              • Hungary
              • Iceland
              • Ireland
              • Italy
              • Latvia
              • Liechtenstein
              • Luxembourg
              • Maderia
              • Malta
              • Martinique
              • Mayotte
              • Monaco
              • Netherlands
              • Norway
              • Poland
              • Portugal
              • Reunion
              • Romania
              • Saint Barthelemy
              • Saint Martin (French part)
              • Saint Pierre and Miquelon
              • Slovakia
              • Slovenia
              • Spain
              • Sweden
              • Switzerland
              • United Kingdom (excluding Channel Islands and Isle of Man)
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