Frequently asked questions.

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General
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Invest
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Storage
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Logistics
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Pay
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Technical
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Legal

General

Troy Gold is a gold fintech company, founded in South Africa in 2018, that aims to make gold ownership and investment convenient, easy and accessible to everyone.

With Troy Gold’s mobile app, available on the iOS and Google Play stores, allows you to:

  • Buy investment grade gold bullion coins and bars (these bars and coins are from certified LBMA-approved refineries).
  • Have your gold stored on your behalf with Troy and our world-leading, global logistics vaulting partner, Brinks Global.
  • Redeem your gold at any time and have it sent directly to you.
  • Upload your existing gold holdings to Troy for safe storage.
  • Borrow money against your gold by applying for a gold-collateralised loan from Troy.
  • Send gold directly to anyone on the Troy platform with the TroyPay function
  1. Download the App: Click the iOS or Play store download button in our navigation bar at the top-right, or search for ‘Troy Gold’ on the respective stores on your phone.
  2. Register in App: Follow the few easy Registerration prompts in the app which will guide you in opening up an account with us.
  3. Click the Buy Gold button on the home page screen of the app and you will be shown a list of payment methods – it’s that simple. Need more info? Watch any of our tutorial videos by clicking here.

Note: Part of our registration process entails a short KYC, whereby we request a copy of your ID or Passport and a Proof of Residence to be uploaded or sent to us, before you can transact.

Troy Gold sells 2 types of products – 1oz Krugerrand coins (refined by Rand Refinery) and 1 kilogram 99.99% refined gold bullion bars (refined by Metalor refinery). //attach images of both//

All our customers’ gold holdings are fully backed, meaning our users’ gold holdings are 100% in existence in a high-security precious metals vault in Singapore or South Africa – securely stored and fully-insured.

Troy Gold deals in South African Krugerrands, manufactured by the Rand Refinery in South Africa, and 1 kilogram gold bullion bars, sourced from Metalor Refineries, the world’s largest precious metals refiner.

Troy Gold sells 2 types of products – 1oz Krugerrand coins (refined by Rand Refinery) and 1 kilogram 99.99% refined gold bullion bars (refined by Metalor refinery). //attach images of both//

If you purchase a full 1oz worth of coin or a full 1kg of bullion bar, then a specifically numbered Krugerrand or kilo bar is allocated to you, and you are the outright owner.

If you purchase less than a full 1 oz Krugerrand in the case of coin or less than a full 1kg bar in the case of bullion bars, then you will still enjoy direct legal ownership of the amount of gold purchased, denoted in ounces or grams, in a specific coin or bar. You will be allocated as a co-owner of that bar or coin, similar to undivided shares in a propety’s title deed.

Administration of the ownership register is managed by Troy Gold’s technology, and you will receive an ownership statement each month, indicating your ownership % in specifically numbered coins and/or bars.

You can either buy full 1 ounce Krugerrands and 1 kilogram gold bullion bars, OR you have the flexibility to purchase any amount of a Krugerrand or 1 kilo bar – there are no investment minimums.

When you do this, you are buying co-ownership in specifically identified and serialised Krugerrand (in the case of coins), or a specific, serialised 1 Kilo gold bullion bar (in the case of bars).

Our technology is able to ‘split up’ and allocate multiple owners to a specific coin or bar, akin to owning undivided shares in a house or property’s title deed. You still enjoy direct ownership of the physical gold with full ownership rights.

No, any citizen which follows our KYC approvals process, can transact with us.

To close your account, ‘empty’ your account by selling and withdrawing all of your gold.

Once the above transactions have been completed, please contact us on support@troygold.app to formally close your account.

Your address linked to your profile will be used as the delivery point for all your gold redemptions.

To change the address linked to your profile:

In the side menu, tap the “Profile” icon

  1. Within Profile, tap the “Address” icon
  2. Enter your address, and save.

You will receive an e-mail from Troy Gold support, asking you to reply with your latest proof of address, linked to the new details you’ve entered.

Your bank account linked to your profile will be to deposit funds from your gold sales.

To change the bank account linked to your profile:

  1. In the side menu, tap the “Profile” icon
  2. Within Profile, tap the “Bank Account” icon
  3. Enter your bank account, and save.

You will receive an e-mail from Troy Gold support, asking you to reply with your latest proof of address, linked to the new details you’ve entered.

Invest

  1. Download the App: Click the iOS or Play store download button in our navigation bar at the top-right, or search for ‘Troy Gold’ on the respective stores on your phone.
  2. Register in App: Follow the few easy Registration prompts in the app which will guide you in opening up an account with us.
  3. Click the Buy Gold button on the home page screen of the app and you will be shown a list of payment methods – it’s that simple. Need more info? Watch any of our tutorial videos by clicking here.

Note: Part of our registration process entails a short KYC, whereby we request a copy of your ID or Passport and a Proof of Residence to be uploaded or sent to us, before you can transact.

There is no limit to how much gold you can purchase.In the extremely rare cases, however, we may place a limit on gold purchases based on our stock of Krugerrands or 1kg gold bars available for sale.

On the Troy Gold app, you can buy in any quanity – there are no investment minimums.

There is no fee for opening and maintaining an account with Troy Gold.

Please refer to our Fees Schedule.

You can buy gold anytime, anywhere with Troy Gold! No market closures, and no trading hour restrictions.

Troy Gold has 24/7 Live pricing in the app, linked to the live gold price.

For Krugerrands: The LBMA Gold Price is set twice daily, at 10h30 and 15h00 London time, and acts as a benchmark for gold producers, investors, consumers and central banks worldwide. There is, however, a live paper gold price 24/7 as is quoted in the markets, which derives it’s price from the LBMA becnhmar.

The Krugerrand buy and sell prices displayed in the Troy app are live, 24/7 prices which are linked to the prevailing gold price, but accounts for a small premium charge to Troy.

For 1kg gold bars: The kilo bar buy and sell prices displayed in the Troy app are live, 24/7 prices which are linked to the prevailing gold price, but accounts for a small premium charge to Troy.

The displayed prices are live, 24/7 prices which are linked to the prevailing gold price at the time.

Troy Gold prides itself on offering ultra low premiums. Please refer to our Fees Schedule here.

Troy Gold charges an annual storage and insurance fee for vaulting your gold holdings – calculated daily and charged monthly. There are associated fees for when you redeem your gold or withdraw your funds. For details, please refer to our Fees Schedule here.

The TroyPay function is absolutely FREE.

Troy Gold offers various payment methods, as follows:

  1. Bank Transfer/EFT
  2. Credit or Debit Card
  3. Instant EFT
  4. Debit Order

All options are shown inside the app when you buy gold, and you will be lead through the necessary instructions.

Troy Gold will do a bank transfer/EFT to your designated bank account. Depending on your bank, the funds could take up to 72 hours to reflect.

There is a small charge for this bank transfer, which are bank charges by Troy Gold’s bank – Troy Gold does not profit from this in any way. For details, please refer to our Fees Schedule here.

Depending on your banking institution, transfers may take up to 48 hours. Your purchase is credited as soon as your transfer reflects in our bank account.

You can withdraw funds to your bank account by selling some of your gold at any time.

Depending on your banking institution, it may take up to 48 hours for withdrawn funds to appear in your bank account.

Your bank statement is required to verify your bank account as part of the KYC/registration process, in accordance with international monetary laundering regulations. You will only have to do this once and we try to make it as quick and easy as possible.

Withdrawals via selling your gold does have a small fee, which is our bank’s fee for EFT’s that we simply pass on to you. We take no fee ourselves.

 

Please refer to our Fees Schedule here.

There is no minimum withdrawal amount.

Storage

All our customers Krugerrands and Bullion Bars are stored with our global vaulting partner, Brinks Global, in either their South African or Singaporean precious metals vaults. These are the most secure vaults in the world, and Brinks is the largest vault operator in the world.

The gold is fully insured and jurisdictionally and geographically safe. There are no reporting requirements and these vaults are independent from the financial system – offering you anonymity and peace of find.

The security of your gold is our top priority. All customer gold holdings are fully insured against loss or theft by Lloyds of London via Brinks Global. As part of our commitment to safety, only Brinks has physical access to the gold – no Troy Gold employee can thus enter the vault or access the gold.

User gold holdings are audited every quarter by a top tier global auditing firm, Mazars, and this report is posted on our website as well as e-mailed to you -detailing the bars and coins in the vault.

Troy Gold simply acts as bailee for your gold. This means that you are the legal owner of the gold you own on the Troy Gold platform and we simply store and manage your gold for you.Therefore, if anything were to happen to Troy Gold, you will retain full ownership and have full access to your gold as it is your property.An appointed liquidator will be tasked to liquidated or redeem the gold according to the ownership register.

Logistics

You can redeem your gold at any time you wish, if you have ownership of a full 1oz Krugerrand or 1 kilogram bullion bar.

Simply tap “Redeem” in the Troy Gold app side bar and follow the instructions. Our team will then be in contact with you to verify your address particulars and make the necessary arrangements for delivery.

Is there a minimum amount of gold I have to own in order to redeem?

Gold is redeemed in full Kruger Rands, that are denonimated in 1 ounces, or full kilo gold bars, denominated in 1 kilogram apiece. Gold redemptions can therefore only take place in whole numbers eg. 1, 2 , 3 ounces or bars etc.

Gold is redeemed in full Kruger Rands, that are denonimated in 1 ounces, or full kilo gold bars, denominated in 1 kilogram apiece. Gold redemptions can therefore only take place in whole numbers eg. 1, 2 , 3 ounces or bars etc.

Once your Redeem request is submitted via the Troy Gold app, a member of our team will contact you to verify your address particulars and make the necessary arrangement for delivery.

Deliveries can take anything from 48 hours to a few days, depending on the location request.

Redemption fees are listed in the Fees Schedule

A gold upload is a Troy Gold service that we offer to South African citizens in Gauteng, whereby we will pick up your existing Krugerrands which you own outside the Troy Gold platform, and have it vaulted and securely stored for you.

Please refer to our Fees Schedule here.

Troy Gold is in partnership with one of South Africa’s best security services companies for secure armoured vehicle transport.Once you’ve elected to upload your Krugerrands, one of our team members will contact you to arrange the details and schedule a time.Collection is done with secure armoured vehicle transport and your gold holdings are insured during transportation.

Pay

TroyPay is Troy Gold’s gold-to-gold payments network.

By using TroyPay, you can do a gold-to-gold transfer by sending gold to anyone on the Troy Gold platform – you are transferring your ownership of that gold to the party you send the gold to.

Yes. The recipient of the gold will receive an email prompting receipt of the gold by installing the Troy Gold app.

You can only send gold on the Troy Gold platform.

Sending of gold is only limited by the amount of gold you own on the Troy Gold platform

It is FREE to transfer gold using TroyPay.

Technical

Troy Gold is available on both Android and iOS platforms.

For iOS:

  1. Open the App Store
  2. Search “Troy Gold”
  3. Tap “Get”

For Android:

  1. Open the Google Play Store
  2. Search “Troy Gold”
  3. Tap “Install”

Troy Gold is available on both Android and iOS platforms.

For iOS:

Any iOS device running on iOS 10.0 or later with a minimum 150MB of storage

For Android:

Any Android device running on Android 5.0 or later with a minimum 150MB of storage

Please contact support@troygold.app of you experience any technical difficulties while using the Troy Gold app. Alternatively, you can live chat with technical support through the chat function in the app menu

Please contact us immediately on +27(12) 943 – 5948 for international or (012) 943-5948 for South Africa, or e-mail support@troygold.app if your mobile phone has been lost/stolen. We will freeze your account until you are ready to access it from a different device.

When you elect to open an account and use the Troy Gold platform, you are agreeing to our Privacy Policy and Customer Agreement.

Troy Gold is a registered Kruger Rand dealer with the South African Financial Intelligence Centre (FIC) and is currently registering with the Singaporean Ministry of Law and Monetary Authority of Singapore, as a registered precious metals dealer.