Exactly how much Gold will I get for my money?
For every $100.00 sent, you will receive $95.00 worth of gold - at the 5% rate - (see current special sale rate on home page). Also, there is a calculator beneath the rate table and beneath the special rate notice to determine the net from amount sent - Our minimum payment limit is $40, there is no maximum amount, $40 to $10,000, for example. The weight of gold you receive will depend on the exchange rate in effect on the e-gold, e-bullion, netpay or goldmoney system at the time GitGold spends this gold for you. The math used to determine the funding amount is: AMOUNT SENT X INVERSE of FUNDING RATE = NET AMOUNT FUNDED - EXAMPLE - If the funding rate is 5%, then the inverse of 5% is .95 (1 - .05). Then if $105 is sent, the math would be $105 x .95 = $99.75 funded to the account. There is a sliding scale rate structure based on the amount sent:
Will Gitgold email me after processing my funds?
We use the "heads-up" emails to reply back with funding responses. So, if you would like to receive an email telling you that we have funded your account, email us to let us know your funding is on the way. Be sure to include your name, egold, ebullion,goldmoney or Netpay account number and account name. If the sending agent mistypes your account number, this will help us get the funds into your account promptly. When we receive a transaction without an email, and the account name does not correspond to the name on the transaction notice, we delay funding until we can verify the account number is correct.
What kind of payment can I send you?
We accept money orders, cashier checks, bank wires, (recommended for International customers). All must be in US Dollars. Customers who have attained VIP status can make deposits directly into our bank accounts.
How do I attain VIP status?
Basically, VIP status is awarded to regular customers. So, if you have done at least 3 funding transactions us in the past, you may have already attained it. Email , provide the account number we've funded for you and we'll check our history for you. Once VIP status has been attained, you'll be able to make deposits directly into our bank accounts. This means you will be able to use a "no cost to get the funds to us" method of sending money. VIP status is awarded to our customers as thanks for their patronage.
An auction seller has directed me to send funds to gitgold.com to pay the item I bid on - What should I do?
Unfortunately, some auction sellers have attempted to use this process to scam their buyers. What they typically do is direct the buyer to send funds to us and to reveal the details of the transaction to them. The scammer then emails us, pretending to be the victim with a heads-up email explaining that funds are on the way, here are the details and please fund my egold account asap. Once the scammer has the funds in their account,they stop replying to the buyer/victim and move on, never deliverying the product. So, if an auction seller instructs you to send funds to us, email right away and explain the situation. We will escrow (hold) the funds you send us until you confirm you have received your product and tell us to release them, if you decide to proceed with the deal. Advise your seller of this. If the seller has a problem with these arrangements, then it may be a scam. Legitimate business people do not direct their customers to send funds to us without clearing it with us first, so these deals are usually bogus.
Can I come to your physical location and fund my account?
Please email us at least a day in advance to let us know your intention. We would like to fund your account on the spot - but that is dependent on us having enough gold in our surplus account to cover your transaction. If we don't know you're coming, that may not be possible if it is a large amount.
How does the new CASHOUT option work?
The charge to do a CASHOUT FROM EGOLD is 1% of the amount outexchanged or $5, whichever is greater. Mailing costs are $2 for regular mail, $8 for trackable Express Mail or $24 for overnight service within the US or $4 for international airmail. Spend the amount you would like sent - allowing for fees and mailing - to our egold, then email to providing the name and address to send the check to. Check will go out the next business day for requests received by 6:00pm Eastern Time. The maximum amount for the CASHOUT feature is $1000 - if you would like to do more, please email us with the request - we will consider requests for amount s over $1000 on a case by case basis. Please note that we have to keep our various digital currency accounts in balance and may be able to do a CASHOUT for one or the other digital currencies if we have need of it. When we can do cashouts from currencies other than egold, the charge will be 2.5% of the amount transferred, with a $5 minimum. Email to check status, please.
What if I change my mind about funding my account after I've already sent funds to you?
We will write a refund check less a service and handling fee of 4% and give you the option of having it mailed back to you by regular mail for $2 or by overnight service for $24. We will mail it to the return address with your funds unless you tell us otherwise.
What can I do to avoid delays in getting my account funded? 1 - send a heads up email with your first and last name, account number, account name and the amount you are sending. 2 - include a note inside the package containing your funds with your first and last name, account number and account name. This serves as a cross-check. All too often we receive a customer's funds and can not fund their account becuase they have left out a critical piece of information or we can't read their hand writing or the account name makes us question if they have provided an incorrect account number. 3 - Either name your account something that identifies you or tell us what the account name is. Example - if we get funds from John Doe but the account name comes up Tom Smith we have to question if the account number is correct. If we have an email from John Doe we can email to confirm the number before committing his funds. Otherwise we have to wait for him to email to ask why he hasn't been funded. If we haven't heard back within a few days then we have to decide to follow his instructions and hope it's right or wait longer. 4 - use a national brand money order like American Express or Travelers Express (sold at Walmart) or postal money orders. Every money order and bank check gets verified. When we open the mail the national brand money orders go in one stack and the checks from credit unions and banks we've never heard of go in another. We rapidly confirm the money orders then proceed to funding them then email the customers to let them know their funds have arrived and their accounts have been funded. Then we attempt confirmation of the checks not processed. Many times the credit unions and local banks are closed for the day and can not be contacted until the following business day and funding is delayed until the funds can be verified. Some local banks refuse to verifiy their own checks. In that case the check gets deposited and is given 10 days to clear before the account is funded. 5 - Don't send a type of check we don't accept. If we receive a personal check or check generated online we will either return it or deposit it and wait 10 days for it to clear. We accept cashier - teller - or official checks but we prefer money orders for the above mentioned reasons. Can I exchange one Digital Currency for another?
You can exchange egold for any currency we support. The exchange rate is 2.5% of the amount exchanged, with a $5.00 minimum charge. We request an email heads-up for exchanges over $1000, please. You will need to spend to our account - email for the number, then email us which digital currency you want and what your account number for it is. Please email with any questions. Note that we can sometimes convert other digital currencies into egold, but it depends on our needs at the time, so please email first with your requests. Also, if we're able to convert from a currency other than egold, the fee will be 2.5% with a $5 minimum.
How long will it take to get my gold?
You will receive your gold usually the evening of the same business day your funds reach us and are verified. Delays could happed if the funds are for a large amount (over $5000) and you haven't notified us in advance so we know to have enough gold to cover that as well as all the other transactions that arrive that day, or if there is a technical problem getting a gold resupply or the the ecurrency site is down preventing funding operations or there is a special scheduling circumstance where the office will be closed for scheduled vacations or holidays - these will be posted in advance on the site. Note that our funding schedule means we are spending our gold to customer's account before we get their funds into our bank account, then we replenish our gold, after the fact from the deposits made.
Therefore, we reserve the right to not fund until the next business day if necessary.
We recommend bank wires or international money orders like those sold by western union and travelers express for all our customers outside the US. All funds must be in US dollars. Email for details.
What is the Best way to Send Funds?
For under $20 a money order or cashiers check can be sent by Fedex, UPS or Airborne Express, even less for their 2nd day service. Of course it only costs a few cents to mail a cashiers check or money order using regular mail in the US, but takes longer for your funds to reach us and therefore longer for your gold to reach your account.
Bank wires cost $15 for us to receive them, plus whatever your bank charges (if anything) and are usually available to us to fund your account the evening of the next business day after you send them. This is a nice option for larger amounts. Email for bank wire instructions or for an estimate of using the various methods to get funds to us. We will be happy to advise you of the most cost effective way of getting your funds to us, based on amount, where you are and how fast you need your account funded.
For our international customers (outside the US), a bank wireW/U is the best option.
Can I get cash from my e-gold account?
Yes. We will send funds by one of several methods. We can mail a check by regular mail or using an overnight service service like fedex. We will include the cost of getting your funds to you by the preferred method, plus our processing fee. Email us with the amount, where you'd like the funds sent and how you would like them sent. We will quote you the total charges and you can decide if you want to proceed.
Why does Gitgold.com ask for my account name in addition to my account number?
To insure the funds go into the proper account. Though this is rare, the customer sometimes specifies the wrong number. Having the account name verifies the funds are going where you intended. Though this is rare, it does happen. If we receive funds from say John Smith, and the number supplied to us is incorrect for whatever reason, and the account name does not identify John Smith - but says Early Retirement, for example, we have no way of knowing the account number is wrong. But if John Smith told us his account is named "Big Times" - we can make sure John Smith's funds are going to his account. Failure to supply this important information can delay your funding. We reserve the right to verify we are paying the correct account. Help us help you.
Why might Gitgold.com ask for my phone number?
Scammers sometime trick their victims into sending funds to us to pay for online auction buys they have no intention of delivering. Typically, they pretend to be the person who sent the funds and send us a heads-up email with the details of what was sent and provide instructions for funding their account. Because of that problem, we have to verify that the person who sent the funds is the one who is going to get the funding. Therefore, if there is any doubt, we will request a phone number and will not pick up the transaction or complete the funding until we have verified the identity of the sender. While we respect the privacy of our customers, we also must insure the security of our client's funds. Your understanding of this need will be appreciated. We reserve the right to refuse acceptance or return funds if the sender's indentity can't be confirmed.
What would happen if I specified the wrong account number?
We can only spend to the account specified. Other than spends, we have no access to any account other than our own. So if the funds sent get spent to the wrong account number because it was sent to us wrong, we have no way of recovering. We ask for your account name to help prevent this problem. We will work through the ecurrency site to attempt to contact the account holder who got the funds by mistake - privacy issues makes this a challenge - but we can not guarantee that the customer that specified the wrong account number will get the funds returned. So PLEASE be sure your account number is correct on on all forms used to send funds to us. By the way - this is a a very rare problem - it has only happened a few times to date - but is a serious enough potential problem we wanted to mention it.