GoldMoney Review: Is It the Right Choice for You?

• GoldMoney is a precious metals company that allows people to purchase gold, silver, platinum, and palladium online.
• GoldMoney stores precious metals in vaults in Switzerland, Singapore, and Hong Kong. GoldMoney provides customers with a secure storage option for their gold, silver, platinum, and palladium.
• GoldMoney's storage package is backed by the Royal Canadian Mint and insured by Lloyds of London. GoldMoney's storage package is backed by the Royal Canadian Mint and insured by Lloyds of London.
• GoldMoney offers storage for one, four, or 10 years. GoldMoney offers storage for one, four, or 10 years.

GoldMoney is an electronic gold bullion storage company that started in the United Kingdom in 2005. The company allows customers to purchase gold, silver, platinum, and palladium bullion online. Customers can purchase gold, silver, platinum, and palladium online by converting money to gold, silver, platinum, and palladium. GoldMoney also allows users to store precious metals in vaults located in Switzerland, Singapore, and Hong Kong.
GoldMoney allows users to purchase precious metals online by converting money to gold, silver, platinum, or palladium. GoldMoney also allows users to store precious metals in vaults located in Singapore, Switzerland, and Hong Kong.

Pros Explained

GoldMoney's services are top-notch. They offer a variety of ways to invest in precious metals and currencies in your portfolio.
You can:
Buy physical gold, silver, and platinum bullion bars.

Buy and store physical gold, silver, and platinum bullion in secure vaults in 12 countries.

Buy and store 10 different precious metals and currencies.

Buy and store 10 different precious metals and currencies, plus 2 precious metals.

Exchange dollars for precious metals.

Exchange any currency for precious metals.

Exchange precious metals for precious metals.

GoldMoney offers low commissions.

GoldMoney offers secure storage.

GoldMoney offers world-class customer service.

GoldMoney offers 24/7 customer support.

GoldMoney offers a mobile app for iOS and Android devices.

GoldMoney offers a mobile app for iOS and Android devices.
Cons Explained
GoldMoney has some drawbacks.

GoldMoney's fees are not the lowest.

GoldMoney's fees are not the lowest.

GoldMoney does not offer a debit card.

GoldMoney does not offer a debit card.

GoldMoney does not offer a debit card.

GoldMoney does not offer a debit card.

GoldMoney does not offer a debit card.

Cons Explained

High minimum initial deposit amount: $2,500 for gold, $25,000 for platinum.

Annual storage fee: $125 for gold; $150 for platinum.

Fees for physical delivery: $50 for gold; $75 for platinum.

Fees for withdrawals: 1% for gold, 0.45% for platinum.

Available to Americans?

Yes

Company is domiciled in the U.S.?
No

GoldMoney is a "transnational" company, meaning that it is registered in one country (the U.K.) and headquartered in another (Cyprus). GoldMoney customers must be residents of a country in which GoldMoney is registered and, therefore, the company's services are not available to U.S. customers.

Account Features

GoldMoney offers several account types, including the following:

Gold Savings: $1,000 minimum investment. Annual fee of $9.95. Account is fully insured up to $1 million.

Gold Savings Pro: $10,000 minimum investment. Annual fee of $99. Account is fully insured up to $1 million.

Gold Savings Premier: $100,000 minimum investment. Annual fee of $199. Account is fully insured up to $1 million.

Gold Bullion: Physical gold purchased in minimum amounts of $500. Storage fees of $25 per month.

VIP Gold Savings Account: $100,000 minimum investment. Annual fee of $100. Account is fully insured up to $1 million.

Vault Cash: Physical cash stored in a high-security facility. Minimum investment of $10,000. Storage fees of $50 per month.

Gold Credit Card: Rewards card, 1% cash-back on all purchases.

Gold Debit Card: ATM card, 1% cash-back on all purchases.

Gold Bullion Vault: Secure storage of gold bullion, gold bars, and gold coins.

Travel Gold Card: Prepaid card, worldwide access to ATMs, 1% cash-back on all purchases.

Gold IRA: Individual retirement accounts (IRAs) in gold.

Fees

There is no minimum account balance, but there is a monthly fee of $2.95.
Security
GoldMoney is insured by Lloyds of London.

Customer Service
Customer support is available by phone, email, and live chat.

Reputation
GoldMoney has a solid reputation and is well-known in the gold community.

Trading Features

GoldMoney offers both buying and selling of gold bars and coins.
Returns
GoldMoney charges a fee of 1.5% on buying gold, and 1% on selling gold.
Fees
There are no fees for transferring money between gold bars and coins.

Customer Service

The goldmoney website is home to a wealth of helpful and well-organized resources, including FAQs, a help section, and a blog that regularly publishes posts on topics such as saving for retirement, investing in gold and silver, and how to invest in precious metals. Users can also contact customer service via phone and email.
Ease of Use
Goldmoney services can be accessed online or through their mobile apps for iOS and Android. Their site features a clean layout that is easy to use.
Investment Options
Goldmoney allows users to purchase physical gold, silver, platinum, and palladium. They also offer vaulted storage, which allows users to store precious metals in a vault located in Switzerland, Singapore, or London.
GoldMoney Reviews

Reputation

GoldMoney is widely recognized for its security, and has been in business since 2001. It is a member of several financial industry organizations and regulatory bodies, including the London Bullion Market Association, Financial Crimes Enforcement Network (FinCEN), and Financial Industry Regulatory Authority (FINRA).
Customer Service
GoldMoney offers a variety of ways to contact its customer service department, including live chat, phone, and email. The service team is available 24 hours a day, seven days a week.
Fees
GoldMoney charges a $1,000 minimum annual fee, which is waived for the first year. This fee covers storage, insurance, and transfers.