Discussion in 'General Precious Metals Discussion' started by Anniesilver, Apr 6, 2020.
Has anyone using goldpass from Perth mint
Is it a good platform? regards
Had a try to see what it's like and it seems okay. I would actually like to try to send some to someone as a trial to see how easily a transaction goes.
I've got it, it's a pain in the bum to set up, which I can understand as you need to prove your identity to be able to use it. That took about a week from memory.
After that, it's easy to use. You direct deposit money into PM's account, they send you a push notification and email once the money is uploaded to the app (either same day if you're early enough or the next day) and you buy gold. Once you have a minimum of 1oz, you can convert it to physical (have to pay a casting fee) and collect it. They charge a 1% fee on the spot price when you buy and 1% when you sell. I haven't sent to another person so I can't comment on that side of things.
A friend sold his holdings in gold pass a month or two ago, and they settled with in 24 hours via EFT.
Great thanks for replies
I will report back once I am up and running
Just to report
Open account at 9am
person verification in under 10min
Bank account verified in 2 hrs
Money transferred over night as they use westpac
Thanks Anniesilver. Thant's pretty snappy.
Other than potentially smaller dollar amounts being able to be transferred, I'm still trying to get my head around how this differs from say Goldstackers system?
I think it's meant to be like a crypto currency, except it's backed with gold. I'm wanting to do a test transfer with any another Goldpass user to see how it goes.
Nice one, looks like they may have streamlined the verification process from when I did it.
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