Your gold is secured in high-security vaults located in Sydney, Australia and operated by Brink’s Global Services.
SendGold is licenced and registered in Australia and is based in Sydney.
Your gold is held in high-security vaults that are not accessible to our individual customers for security reasons.
You can cash out your gold at any time. We may offer physical gold redemptions in the future.
No. The physical gold does not move from the vault. We just update who owns it.
Your gold is held in high-security vaults operated by Brink’s Global Services, one of the world’s leading precious metals custodians. The gold is physically audited on an annual basis by Bureau Veritas and is insured against damage or theft by Lloyd’s of London. SendGold operates bank-grade software systems currently used to serve millions of banking customers around the globe, and we perform independent third-party security testing on a periodic basis. See more here
No. If someone transfers gold to your account, you do not have to connect a bank account unless you want to sell your gold or buy more.
Setting up a SendGold account is free. There is no cost to receiving gold, or sending (paying or gifting) in gold. There are fees associated with buying or selling gold which are detailed on the app at the time of the transaction. Our current transaction fees are 1% of your purchase, or 1% of your gold sale, both capped at $10 per transaction so this reduced quickly with larger transactions. Also, depending on how you pay for your gold, there may be a third party bank fee.
SendGold streams live pricing to calculate the value of your gold at any time, based on the weight of gold that you own. These values are displayed within the app.
SendGold derives it’s gold price based on 99.95% pure physical gold bullion as supplied by our international wholesale gold dealers. It is refreshed every 60 seconds.
We buy and sell gold in wholesale quantities and add a small margin. For “Buy” transactions we add 1.5% to our cost. For “Sell” Transactions we add 1.5%.
The gold price shown on your home page is our “Sell”, or ask price. You will see the “Buy”, or bid price when you begin the buy process.
Also worth noting, market quotes usually represent an indicative market price, not an actual price at which you can buy or sell gold.
Markets also quote gold in different quantities and purities, and depending where you live, in different denominations. For example many countries (like Australia) use “troy ounces”, but many others use grams and kilograms. Countries like India may use the “tola” (11.3 grams), in China you may see prices in “tael” (37.7 grams). We’ve tried to simplify this with “G” (10 mg), and our new app version will let you select which local denomination type you also want to see for comparison purposes.
You will be able to do that in the coming weeks. We will be rolling out first in Asia.
Not at this time as we are fully compliant.
No, SendGold is an independent organisation not affiliated with any bank.
Not yet. Watch this space we have some exciting things in the pipeline.
You own the complete physical title to your gold. In the unlikely event that something were to happen to SendGold, your gold will remain your property.
Yes, you can access the web version of SendGold from any internet enabled computer.
It can take up to 3 business days for our bank to pass the funds to your bank. If it has been longer than that please contact us.
Once your gold transfer has been received, you will be notified by email and through the notifications area on the app.
If the recipient of your gold is not a registered user of SendGold and does register an account within 15 days, the transaction will be cancelled, and we will return the amount of gold you sent to your account.
For large transactions we may ask you to enter an SMS code as an additional security measure. The SendGold app will prompt you to enter the code you receive via text message.
When you buy gold you are presented payment options that are relevant to your country.
It can take up to 3 business days for our bank to get funds to your bank, if it has been longer than that please contact our Customer Team.
As with bank and other money transfer systems it’s your responsibility to make sure you’re sending to the right person, if you enter an incorrect recipient you should contact our Customer Team and we can take certain steps to try and recover your transaction but we can only do these on a “best efforts” basis.
All your SendGold purchases are based on the amount you decide to transfer from your bank at the time of purchase so you can’t buy more than that by mistake. For selling, the system will only allow you to sell the gold you already have in your account.
Yes, just go to the Send section and enter $25 and your friend will receive $25 worth of gold.