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What is Automatic Redemption?

Last Updated: Oct 10, 2016 01:36PM EDT
Goldmoney Automatic Redemption plans allow you to automate your preferred redemption amount to your linked bank account or your GoldMoney Prepaid MasterCard. This is a helpful tool that enables you to indicate what percentage of your incoming Goldmoney payments should be redeemed, leaving the rest of your received gold safely stored in your account! Automatic Redemption plans can be added, edited, or removed at any times under your Settings.
 
You can choose to redeem to your linked bank account (automatic redemptions are not currently available to ACH bank accounts) or to a prepaid card on your Goldmoney account. As the minimum redemption for a bank transfer redemption is 1 GAU, a redemption will only occur once this minimum amount has been reached. Automatic redemptions to a prepaid card will only occur once every 24 hours. If you wish, you can also
 specify which vaults you want to automatically redeem from. 
 
If you have not yet submitted your banking details to link your bank account, you can learn how to do so here! The linked bank account must be in your name and all details must be submitted correctly in order to process your redemption.  
 
Please note that automatic redemptions to a prepaid card cannot be made from your Dubai vault at this time. Redemptions will only process automatically if your Goldmoney account is fully verified. If it is not, your redemptions will need to be manually approved by our vault custodian. 

To learn how to set up an automatic redemption, click here

 
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