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General

Is usage of the Troy Gold platform restricted to South African citizens?

At the moment, only South Africa residents are able to buy gold on the Troy Gold platform. We are, however, hard at work to allow unrestricted worldwide access.

What happens to my gold if Troy Gold is liquidated?

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.

How do I know my gold is safe?

The security of your gold is our top priority. All customer gold holdings are fully insured against loss or theft. That means your gold is 100% safe and secure on the Troy Gold platform and in the vault.

Where is my gold stored?

All our customers’ Kruger Rands are safely stored on their behalf at Knox Vaults in Johannesburg, South Africa.

What exactly do I own when I buy gold on Troy Gold?

When you buy any quantity of gold on Troy Gold, you are actually buying ownership of specifically identified Kruger Rands.

One Kruger Rand represents 1 ounce of pure gold. So, as an example, when you own less than 1oz of gold on the Troy Gold platform, it means that you own a specified share of one specific Kruger Rand.

What type of gold does Troy Gold use?

All our customers’ gold holdings are fully backed by Kruger Rands sourced from the manufacturer, Rand Refinery Limited in South Africa.

What is Troy Gold?

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

On the Troy Gold platform, you can buy and sell physical gold instantly from your mobile phone, with no minimums and ultra low premiums.

Furthermore, Troy Gold aims to democratize the buying power of gold as a currency by leveraging state-of-the art technology to allow spending in gold. Soon you will be able to order your Troy Mastercard which will allow you to spend at any VISA/Mastercard purchase point or online, anywhere in the world.

You can also send gold freely and instantly to anyone on the Troy Gold platform via the app – our commitment to frictionless wealth transfer.

Top-Up

Is there a minimum top-up amount?

There is no minimum top-up or gold purchase amount – you can buy any amount’s worth of gold.

Is there a cost to top-up my account?

Account top-ups are free of charge for EFT top-ups, and 3.5% for Credit or Debit Card top-ups.

Please refer to our Fees Schedule in our website footer.

How long does it take for my cash to show on my profile after I transfer it?

Depending on your banking institution, transfers may take up to 48 hours.

How do I deposit cash into my account?

Top-up your cash wallet in three easy steps:

  • Tap the “Top-Up Wallet” icon in the side menu of the Troy Gold app;
  • Enter the amount of Rands you would like to top up your wallet with;
  • Upon confirmation, you will be directed to process the transaction via a confirmation screen that provides you with a unique user ID’s EFT REFERENCE NUMBER. Perform the EFT outside the app to complete the transaction and remember to insert the right EFT REFERENCE NUMBER.

You can now buy gold.

Technical Support

My mobile phone has been lost/stolen – what do I do?

Please contact support@troygold.app immediately if your mobile phone has been lost/stolen. We will freeze your account until you are ready to access it from a different device.

What happens if I experience technical difficulties with the Troy Gold app?

Please contact support@troygold.app if you experience any technical difficulties while using the Troy Gold app. Alternatively, you can live chat with technical support via the Chat function inside the app’s main menu.

Are there any operating system requirements to download the Troy Gold app?

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 50MB of storage

For Android:

Any Android device running on Android 5.0 or later with a minimum 50MB of storage

How do I download the Troy Gold app?

Troy Gold App is available on both Android and iOS platforms.

For users using iOS:

  • Open the App Store
  • Search “Troy Gold”
  • Tap “Get”
  • Open the app and follow the Registration prompts

For users using Android:

  • Open the Google Play Store
  • Search “Troy Gold”
  • Tap “Install”
  • Open the app and follow the Registration prompts

Legal

Is Troy regulated?

Troy Gold is a registered Kruger Rand dealer with the Financial Intelligence Centre (FIC).

What agreements do I have with Troy Gold when I use the Troy Gold platform?

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

Account

How do I change the bank account linked to my profile?

Your bank account linked to your profile will be to deposit funds from your cash withdrawals.

To change the bank account linked to your profile:

  1. In the side menu, tap the “Profile” icon
  2. Within Profile, tap the “Bank Details” line item
  3. Enter your bank details and click Save.
  4. Send a copy of your bank statement to support@troygold.app to activate change. It may take up to 48 hours to activate.

How do I change the address linked to my profile?

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:

  1. In the side menu, tap the “Profile” icon
  2. Within Profile, tap the “Address” line item
  3. Enter your address, and click save

How do I close my account?

To close your account, empty out any gold or cash balance remaining in your account.

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

Are there any account fees?

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

Send

Are there any minimum/maximum amount of gold I can send?

Sending of gold is only limited by the amount of gold held in your Gold Vault.

Can I send cash on the Troy Gold platform?

You can only send gold on the Troy Gold platform.

Can I send gold to someone who is not yet on the Troy Gold platform?

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

How do I send gold on the Troy Gold platform?

Click the paper airplane icon of the middle bottom o the home page screen and follow the prompts to input the person’s mobile number. By sending gold on the Troy Gold platform, you are transferring your ownership of that gold to the party you send the gold to.

Withdraw

Is there a minimum withdrawal amount?

There is no minimum withdrawal amount.

Is there a cost to withdrawing funds?

Account withdrawals cost R5.50, 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 in the website footer.

How do I withdraw funds from my account?

You can withdraw funds from your cash wallet to your bank account at any time.

Withdraw funds from your wallet in three easy steps:

  • Tap the “Withdraw” icon in the side menu of the Troy Gold app;
  • Enter the amount of Rands you would like to withdraw from your Rand wallet;
  • Confirm your withdrawal by continuing through the prompts.

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

Redeem

How much does it cost me to redeem my gold?

Redemption fees are listed in the Fee Schedule found in our website footer

How long does it take me to get my gold when I redeem?

Once your Redeem request is submitted via the Troy Gold app, it will take approximately 72 hours for your Krugerrands to be delivered to your door.

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

Gold is redeemed in full Krugerrands, that are denonimated in 1 ounces. Gold redemptions can therefore only take place in whole numbers eg. 1, 2 , 3 etc.

Can I get my gold?

You can redeem your gold at any time you wish.

Simply tap “Redeem” in the Troy Gold app side bar and follow the instructions.

Your Krugerrands will be delivered to the address you provide within roughly 72 hours.

Buy & sell

What are my transaction fees when buying/selling gold?

We charge 1% for gold trades.

Please refer to our Fee Schedule found in our website footer.

How often does the buy/sell prices change on Troy Gold?

Troy Gold app runs on live gold pricing from the world’s top exchanges and the live price is fetched upon a buy or sell event, locking in a transaction value.

At what price do I buy/sell gold?

Krugerrands trade at a minting premium to spot gold price and Troy Gold charges a 1% premium as per our Fee Schedule in the website footer.

When can I buy/sell gold?

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

Is there a minimum quantity of gold I need to buy/sell per transaction?

On the Troy Gold app, you can buy in any quanity, with no investment minimum.

Is there a maximum quantity of gold I can buy/sell per transaction?

There is no limit to how much gold you can purchase, other than the available funds you have deposited in your cash wallet.

In the extremely rare cases, however, we may place a limit on gold purchases based on our stock of Krugerrands available for sale.

How do I buy/sell gold on Troy Gold?

Buying and selling gold on Troy Gold is simple and user-friendly.

To buy or sell gold,

  • After loading your Rand wallet with a deposit and it reflects as a credit in your Rand wallet, simply tap the “Buy Gold” or “Sell Gold” icon on the Troy Gold landing page,
  • enter the amount of gold you would like to buy/sell, and
  • confirm your purchase be going through the prompts.

In a few quick steps, your transaction is complete.