FAQs

 

About GoldMoney

  • How can I be sure that GoldMoney is safe and that proper disaster recovery procedures have been put into place?


    GoldMoney has implemented a Business Continuity Plan (BCP) to ensure that operations can continue without significant interruption to customers in the event of a disaster. A 'Disaster Event' is any risk event that significantly impairs the ability of GoldMoney to operate at its primary facilities in Jersey, British Channel Islands with its primary personnel. The BCP is reviewed, tested and updated annually to ensure the business can handle disruptions while minimizing downtime to customers. The BCP covers key aspects of GoldMoney's business such as the information technology (IT) infrastructure, operations and customer service.

    GoldMoney's IT systems are located at its primary data centre in Jersey, British Channel Islands, and includes the website, transaction processing systems and the databases of transaction history and other customer records. Crucial data is backed up on a transaction-by-transaction basis to a geographically remote location where GoldMoney maintains its secondary data centre. These backups are then written to tape and stored in a secure location. All backed up data is encrypted before being transmitted or written to tape. Only designated members of GoldMoney operations staff hold the decryption keys.

    In the event of a catastrophic failure at the primary data centre, GoldMoney IT staff are trained and prepared to restore service to customers at the secondary data centre, which has sufficient equipment in place to replace the missing systems at its primary data centre. GoldMoney's IT staff are located in geographically diverse locations.

    GoldMoney's operations and customer service teams can be recovered to a separate location within Jersey. The secondary site is equipped with computer and communication facilities required to support operations with minimal disruption. Each member of the operations team has an appointed alternate for the purpose of maintaining continuity in executing customer orders, bank transactions and vault operations.

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  • How can I use the iPhone app?

    To review your Holding balance and transactions conveniently on the go, download the app for free to your iPhone and enable the app through your Holding. Login to your Holding from your computer and select "Profile & Settings" and "Preferences" from the menu. When you select "iPhone Access Allowed" from the drop down on the "Preferences" page, you will receive a security PIN, which is required to activate the app. Enter the PIN into the provided field on your Holding and you will immediately be able to use your GoldMoney iPhone app.
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  • How do I close my Holding?

    If you wish to close your Holding, please send a message request from your Holding. Please note, there is no fee to keep your Holding open.
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  • How long does it take to open a GoldMoney Holding?

    It only takes a few minutes to complete the online application for a GoldMoney Holding.

    Click the 'Free Sign Up' button on our homepage at goldmoney.com, select the Holding type that suits your needs and follow the instructions to set up your Holding.

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  • On what software does GoldMoney operate? How can I be sure I am using a safe and reliable online transaction system?

    GoldMoney uses industry-recognised software and hardware. GoldMoney was originally designed and built by Dimension Data, a world leader in IT system development. GoldMoney is hosted in Jersey, British Channel Islands by Foreshore.

    Extensive design and development work has been undertaken to ensure that GoldMoney is both reliable and secure. It is the aim of GoldMoney to provide customers with a safe, comprehensive and cost-effective means for buying precious metals. Read more in our Security FAQs.

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  • What are the cost advantages of GoldMoney?

    GoldMoney is the least expensive way to own gold, silver, platinum and palladium in allocated storage, which is the safest and most secure way to store precious metals. Our buy rates are based on the metal's current spot price plus a small fixed commission that depends on the size of the transaction. There is no fee on your metal sales*, and no spread. For more details see our Prices & Charts page.

    With GoldMoney, you get more metal for your money.

    * In exceptional circumstances, GoldMoney may charge a sell fee. The purpose is to provide liquidity to the seller regardless of market conditions. For example, during rare events such as extreme market conditions, we may need to sell to a bullion dealer the metal that we purchase from a customer. If the dealer charges a fee that GoldMoney cannot reasonably absorb, the fee would be passed on to the customer. In keeping with our longstanding policy of full disclosure, if a sell fee is ever imposed, you will be advised of the fee before you transact, thus giving you the choice whether or not to proceed with the sale.
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  • What are your business hours? What public holidays does your Jersey office observe?

    You can contact us from Monday to Friday, between 9.00 and 17.00 London time (4.00-12.00 EDT for North America). For more details, see our Contact page. GoldMoney's Jersey office staff observe the same public holidays as people in the UK, as shown in the table below.

  • 2014 PUBLIC HOLIDAYS

    DATE

    New Year's Day 1 January 
    Good Friday 18 April 
    Easter Monday 21 April
    May Day Bank Holiday 5 May 
    Spring Bank Holiday 26 May 
    Summer Bank Holiday 25 August 
    Christmas Day 25 December
    Boxing Day 26 December 

     

     

     

     

     

     

     

     

    During UK public holidays, all orders for gold, silver, platinum and palladium received after the cut-off time, (30 minutes before the London PM Fix), on the last business day before the public holiday will be processed on the next available PM fix. Please note, there will be no PM fix, for any metal, on the 24th and 31st December 2014.

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  • What fees does GoldMoney charge?

    See our fees table for an overview.
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  • What happens in the event of a government gold confiscation?

    GoldMoney operates in Jersey, British Channel Islands, a self-governing island located in the English Channel between the United Kingdom and France. While the future cannot be predicted, it is worth noting that gold has never been confiscated in Jersey. Jersey is a politically and economically stable jurisdiction that has become a major financial centre because its legislation relies upon the principles of common law, which prioritises property rights.

    How gold confiscation would affect customers will depend largely on the scope and specifications of the restriction. For example, if gold were to be confiscated in the US, there may not be any repercussions for US customers holding gold in vaults outside the US.

    We aim to provide our customers with as many options as possible to enable them to diversify their assets by class, storage location, and by offering the option of taking physical delivery of their precious metals. For more details about this, see our Delivery page.

    GoldMoney provides its customers with the facility to purchase gold, silver, platinum and palladium and the opportunity to diversify and optimise their investment portfolio. Furthermore, you have the ability to choose between storage locations in Canada, Hong Kong, Singapore, Switzerland and the UK, which affords geographical diversification.

    GoldMoney never discloses any customer details to any third party, government, or tax authority and would not do so unless obliged to by law.

    For additional information please refer to our Privacy Policy: http://www.goldmoney.com/privacy-policy.html

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  • What safeguards are in place to protect my metals if GoldMoney goes out of business?

    If for any reason GoldMoney stops operating, you may receive your precious metals balance in form of any of the gold, silver, platinum and palladium bars we offer, provided you have a sufficient Holding balance. An overview of the available bars sizes can be found on our Delivery page. Alternatively, you may receive the equivalent value of your metal in one of the national currencies we offer. A court appointed Liquidator would complete this winding-up process.
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  • What is a goldgram?

    GoldMoney measures gold in terms of grams, called goldgrams®. One goldgram in weight is equal to one gram of gold, but goldgrams are unique because they are grams of gold that circulate for use as currency within GoldMoney. There are 31.1034 grams per troy ounce.

    GoldGrams are worth gold's rate of exchange to a particular currency at a given moment. See our Gold, Silver, Platinum or Palladium Prices & Charts page for up-to-the-minute market quotes.

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  • What is a Holding?

    Your account in GoldMoney is called a Holding, which is the record of your activity in GoldMoney and the undivided metal and registered bars you own.
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  • What is GoldMoney?

    GoldMoney® is the best way to buy and sell gold, silver, platinum and palladium. It is easy and inexpensive, plus you have the convenience of transacting online. Your precious metals are safely stored for you in an insured vault. You also have 24/7 online access to your metals, which you can sell at any time in exchange for funds automatically sent to your bank account. Since 2001, thousands of people have used GoldMoney to protect their wealth and to address today's financial uncertainty. Access the About GoldMoney page for further details.
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  • What is the office address and telephone number of GoldMoney?

    Our office address and telephone numbers are:
                           

    Office Address

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

     

    Telephone Numbers

    USA and Canada Toll-Free
    1-855-583-GOLD (4653)
    UK and International
    +44-1534-633-933
    Fax
    +44-1534-633-901

    The plus sign (+) indicates that you are required to dial the international telephone code first, which is 011 in North America and 00 in Europe and most other parts of the world.

    When sending mail to our office, please put '(UK)' in parentheses after 'British Channel Islands' to ensure your postal service knows where to send your letter.

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  • Where is GoldMoney located?

    The GoldMoney administrative office and the computer servers that run its website are located in Jersey, British Channel Islands, which is also where the customer data is maintained. GoldMoney management and its IT team are diversely located throughout Europe.
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  • Where is my personal data kept?

    All customer records are kept safe and secure in our office and servers in Jersey, British Channel Islands, a 700-year old sovereign country. Jersey has become a major financial centre because it relies upon Anglo-Saxon common law, which puts property rights at the forefront. GoldMoney considers privacy to be an important property right. See our Privacy Policy.
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