Jump to content
House Price Crash Forum
Sign in to follow this  
OzzMosiz

Goldmoney Advice

Recommended Posts

No one? Goldmoney want me to get a Lawyer or a Bank manager to authorise my ID before I can buy gold or silver and then there is sending off the details. What a pain in the ****

Share this post


Link to post
Share on other sites
Guest boredwaiting

No one? Goldmoney want me to get a Lawyer or a Bank manager to authorise my ID before I can buy gold or silver and then there is sending off the details. What a pain in the ****

It is a pain. But it's only if you want to put as much money in as crazy Cgnao :)

You only need to get the cap authorisation form and submit it with a photocopy of a bank account statement and passport and that'll let you have about 20k (i think).

Read the form again - you should be fine. They are just watching out for money launderers.

The only i would say is that they take a lot of money of you at the start. You pay 3.39% for the transaction and there is about a 2.5% surchage on the price of gold. You need to see an increase of 6% in gold just to get your money back :o

Is bullion vault any better?

Share this post


Link to post
Share on other sites

Is bullion vault any better?

Yes, bullionvault's spread is much tighter and you have much better control over when you buy and sell. You can set up an account in a few minutes and you get $20 worth in gold for free to get you used to it.

You need to make scans of passport / bank statement etc and send them electronically, although you can fund your account first then send the scans later if you're really in a rush to buy now.

Edited by Manic Miner

Share this post


Link to post
Share on other sites
Guest boredwaiting

Yes, bullionvault's spread is much tighter and you have much better control over when you buy and sell. You can set up an account in a few minutes and you get $20 worth in gold for free to get you used to it.

You need to make scans of passport / bank statement etc and send them electronically, although you can fund your account first then send the scans later if you're really in a rush to buy now.

i tried to log on a few times but the site was down...

I will look at it again. Maybe put some more in if it drops any further.

Does anybody have an argument why gold money may be better?

Edited by boredwaiting

Share this post


Link to post
Share on other sites

Does anybody have an argument why gold money may be better?

Goldmoney is administered in the Channel Islands and the metal is stored in London.

BullionVault is administered in London and you have the choice of vaults in London, New York or Zurich.

This could be an advantage to BullionVault if a government ever tried to confiscate gold, but Goldmoney could have the advantage in keeping ownership secret from the British authorities.

Time to put a new sheet of tin foil over my head. :blink:

Share this post


Link to post
Share on other sites
Guest

No one? Goldmoney want me to get a Lawyer or a Bank manager to authorise my ID before I can buy gold or silver and then there is sending off the details. What a pain in the ****

Make an appointment with a local solicitor. Tell them you want a certified photocopy of your passport doing.

My local solicitor charged £5 to have this done, she signed and stamped the photocopy.

Send that to goldmoney along with a recent bank statement original (one that maybe you know you won't desperately need to keep).

It should take 2 mins on your way to work one morning.

Edited by megaflop

Share this post


Link to post
Share on other sites

No one? Goldmoney want me to get a Lawyer or a Bank manager to authorise my ID before I can buy gold or silver and then there is sending off the details. What a pain in the ****

It'll take longer, but if you want to save a fiver go into your bank and ask about taking out a mortgage with them, when you've been given the pep talk about what a great bank they are say "ooh yea, i almost forgot, whilst I'm here could you stamp this and get the manager to do his scribble on it" They can't possibly ask you for money in this situation.

Share this post


Link to post
Share on other sites

It'll take longer, but if you want to save a fiver go into your bank and ask about taking out a mortgage with them, when you've been given the pep talk about what a great bank they are say "ooh yea, i almost forgot, whilst I'm here could you stamp this and get the manager to do his scribble on it" They can't possibly ask you for money in this situation.

:P you're good :D

Share this post


Link to post
Share on other sites

I am a UK citizen working abroad in Holland. I want to start buying physical gold / sovereigns . Does anyone know how i can do this here and also... can i take the gold across borders without having to pay some sort of tax?

Share this post


Link to post
Share on other sites
Guest boredwaiting

I'm in a similar situation (in denmark) and I haven't a clue how all this works. I invest and save in the uk but have my salary paid in denmark (where I live).

I am hoping i can pay tax in the uk....

Anyone know how the tax man would see this? I need to sort it out before I am looking at the inside of a 3x6 foot cell...

Share this post


Link to post
Share on other sites

I asked at the local solicitor's office and they sent me to the post office, where the guy stamped the photocopy of the passport for a few quid. Not sure whether that's generally applicable, or whether he just did it as a sideline.

They are just watching out for money launderers.

LOL. They're following British government restrictions intended to discourage Joe Sixpack from setting up new accounts to avoid paying tax.

The real money launderers do it through the City by the billion.

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 302 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.