Independent payment system
GoldMoney provides thousands of customers with an affordable, secure way to buy and store precious metals. In addition, we have modernised gold and silver’s oldest, most valuable function as a monetary commodity to once again allow you to use these metals as currency by making payments to other GoldMoney Holdings.
Through our patented currency, GoldMoney goldgrams® (1 goldgram = 1 gram of gold), you can make gold and other metal payments to other customers electronically. GoldMoney customers around the world can make immediate payments to each other*, at a fraction of the cost of a standard bank transfer.
Although you can send and receive funds to and from your GoldMoney Holding via traditional financial institutions, such as banks and brokerage companies, GoldMoney’s utility is not dependent upon the network of such institutions. This makes the GoldMoney payment system an ideal alternative to the banking system.
Low payment fees
GoldMoney’s transaction fee is only 1% of the payment amount with a minimum fee of 0.01 goldgrams/silver ounces/platinum grams/palladium grams and a maximum fee of 0.1 goldgrams/silver ounces/platinum grams/palladium grams.
For example, a goldgram payment valued at $50 costs 50 cents, whereas a goldgram payment valued at $50,000 costs only $4.33.
|Maximum goldgram payment fee
Minimum goldgram payment fee
|1/10th of a goldgram (about €3.19)
1/100th of a goldgram (about €0.31)
|Maximum silver ounce payment fee
Minimum silver ounce payment fee
|1/10th of an ounce (about €2.14)
1/100th of an (about €0.21)
|Maximum platinum payment fee
Minimum platinum payment fee
|1/10th of a platinum gram (about €4.34)
1/100th of a platinum gram (about €0.43)
|Maximum palladium payment fee
Minimum palladium payment fee
|1/10th of a palladium gram (about €1.90)
1/100th of a palladium gram (about €0.19)
How do I pay with metals?
GoldMoney metal payments are instant, in contrast to most transfers made through the banking system. The payment instruction is instantly processed by the GoldMoney database. Payments must first be authorised by the payer who receives a PIN code by email or by SMS. Once this is done, the payment is completed and the payee can then verify receipt by logging into his/her Holding. Please read our Security page for more information on our SMS security feature.
Use your iPhone to make metal payments
You can also make metal payments from your iPhone whilst on the go. Our application is one of the first electronic finance software programs written for the iPhone, and the first mobile application that allows the direct exchange of bullion between individuals and businesses.
The GoldMoney iPhone application is available for purchase and download through Apple’s iTunes App Store for $9.99 (USD). When you download the app you will be eligible to receive a 25% discount on each metal payment you make until 7 March 2011.
* Please note that this service is not available to customers resident in Germany. Both parties require a Full verified Holding to make or receive a metal payment.