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TOP 5 Frequently Asked Questions

Yes, you can. You will first need to ensure that you have zero balance in your account for both Everest Gold Units (EGUs) and USD.

You may subsequently contact our Customer Service team via Viber or email at [email protected] gold to change your registered bank account.

Alternately, you may fill up the contact us form here.

Yes, however Everest Gold does not impose any bank charges on our users.

When there is a local or international fund transfer, there may be charges imposed by various banks e.g. Remitting bank (User), the Beneficiary bank (Everest Gold or World First Asia), the Intermediary bank or others.

Some of the scenarios as follow:

When a user makes an international fund transfer of USD 100 to Everest Gold or World First Asia, they may have to choose one of the following charge options.

However, there are cases where charge options may not be available in certain banks and “SHA” is the default charge option selected.

a) BEN: Charges are borne by the Everest Gold
Everest Gold bears all charges of the banks engaged in the transfer of the payment. User only pay the remittance amount. All charges (Remitting bank’s as well those of the Intermediary and Beneficiary banks, etc.) will be deducted from the remittance amount and your Beneficiary will receive the remaining balance.

Outcome: Everest Gold will receive USD 100 less the Remitting Charges and Correspondent Bank Charges.

b) SHA: Charges are shared between User & Everest Gold
User pay for the Remitting bank’s charges and the remittance amount. EG bears the charges of all the other banks’ (the Intermediary and Beneficiary banks, etc.), which will be deducted from the remittance amount. EG will receive the remaining balance. This is the most common type of charge, where each party bears their respective charges.

Outcome: Everest Gold will receive USD 100 less the Correspondent Bank Charges.

c) OUR: Charges are borne by User
User bear all charges of the payment, i.e. the remittance amount, Remitting bank’s charges, as well as all the other banks’ (Correspondent, Intermediary and Beneficiary banks etc.). The charges will be debited from User indicated account after the exact amount has been identified. For cases where we have “OUR” arrangement with our correspondents, we will debit the agent charges upfront.

Outcome: Everest Gold will receive USD 100 in full.

There is no minimum amount for deposits. However, there is a maximum limit of USD 3,000 per transaction.

For withdrawals, there is a minimum limit of USD 100 and there is no maximum limit.

It will take 1 business day for local fund transfer and up to 3 business days for international fund transfer.

Reward points can be exchanged for EGUs during our Gold Subscription Events. You can subsequently trade on our platform with these EGUs.

Yes, you can. You will need to ensure that you have zero balance in both Everest Gold Units (EGUs) and USD account.

You may subsequently contact our Customer Service team via Viber or email at [email protected] gold to change your registered bank account.

Alternately, you may fill up the contact us form here.

Yes, however Everest Gold does not impose any bank charges on our users.

When there is a local or international fund transfer, there may be charges imposed by various banks e.g. Remitting bank (User), the Beneficiary bank (Everest Gold or World First Asia), the Intermediary bank or others.

Some of the scenarios as follow:

When a user makes an international fund transfer of USD 100 to Everest Gold or World First Asia, they may have to choose one of the following charge options.

However, there are cases where charge options may not be available in certain banks and “SHA” is the default charge option selected.

a) BEN: Charges are borne by the Everest Gold
Everest Gold bears all charges of the banks engaged in the transfer of the payment. User only pay the remittance amount. All charges (Remitting bank’s as well those of the Intermediary and Beneficiary banks, etc.) will be deducted from the remittance amount and your Beneficiary will receive the remaining balance.

Outcome: Everest Gold will receive USD 100 less the Remitting Charges and Correspondent Bank Charges.

b) SHA: Charges are shared between User & Everest Gold
User pay for the Remitting bank’s charges and the remittance amount. EG bears the charges of all the other banks’ (the Intermediary and Beneficiary banks, etc.), which will be deducted from the remittance amount. EG will receive the remaining balance. This is the most common type of charge, where each party bears their respective charges.

Outcome: Everest Gold will receive USD 100 less the Correspondent Bank Charges.

c) OUR: Charges are borne by User
User bear all charges of the payment, i.e. the remittance amount, Remitting bank’s charges, as well as all the other banks’ (Correspondent, Intermediary and Beneficiary banks etc.). The charges will be debited from User indicated account after the exact amount has been identified. For cases where we have “OUR” arrangement with our correspondents, we will debit the agent charges upfront.

Outcome: Everest Gold will receive USD 100 in full.

There is no minimum amount for deposits. However, there is a maximum limit of USD 3,000 per transaction.

For withdrawals, there is a minimum limit of USD 100 and there is no maximum limit.

It will take 1 business day for local fund transfer and up to 3 business days for international fund transfer.

Reward points can be converted into EGUs during our Gold Subscription Events. You can subsequently trade on our platform with these EGUs.

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Everest Gold is a registered company in Singapore with a business in operating a secure digital trading platform for gold investors. As a licensed dealer under the Precious Stones and Precious Metals (Prevention of Money Laundering and Terrorism Financing) Act 2019 (“PSPMA”), Everest Gold is regulated by the Singapore Ministry of Law (License number PS20190001500).

Everest Gold purchases 999.9 investment-grade gold bars from authorised dealer, Metalor Technologies Singapore Pte. Ltd. The company is a member of the London Bullion Market Association (LBMA) and a wholly-owned subsidiary of Metalor Technologies International SA, the leading worldwide precious metals refiner based in Neuchâtel, Switzerland.

Everest Gold has a tripartite supervision arrangement with a licensed Monetary Authority of Singapore (MAS) trustee, Pacific Trustees (Singapore) Ltd, who is our appointed gold custodian, and international gold vault chain Malca-Amit, who is a member of the London Bullion Market Association (LBMA) and our appointed custodian vault to ensure compliance. The gold is fully insured and stored securely to give investors a peace of mind.

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Yes, we accept all international users.

You can trade on the platform 24/7.

Gold is currently the only investment product on our platform. We may introduce other products and make them available to our users in the future.

There is no difference. We provide both options for our users to trade with ease and convenience.

Yes, the app is free for download at the App Store and Google Play Store.

For our app, please ensure that you have the latest version from the App Store and Google Play Store.

For desktop and persisting in-app issues, contact our Customer Service team via Viber or email at [email protected].

Alternately, you may fill up the contact us form here.

You may incur handling, valuation and testing fees from banks and retail gold dealers when you buy or invest in physical gold. With these fees, and the difference in the buying and selling price of gold at banks, it would greatly reduce the actual profit and returns on your investment.

Gold trading on our platform does not incur any of such fees and this translates to greater profits for all our users.

Everest Gold Units (EGU) are a digitalised representation of physical gold purchased by our users, and is 100% backed by real gold. 1 EGU is equivalent to 0.01 grams of gold.

You can start with 1 EGU (equivalent to 0.01g of physical gold) which costs as low as USD 0.60.

Everest Gold purchases 999.9 investment-grade physical gold bars at current market prices from an authorised dealer, Metalor Singapore, and introduces them as digital gold onto our platform for our users to trade. The issuing price of EGU references the international spot gold price as a benchmark.

Users must be at least 18 years old.

KYC stands for Know Your Customer. It is our process of identifying and verifying the identity of Everest Gold users in order to comply with the Anti-Money Laundering (AML) Act in Singapore, and to protect our system from facilitating criminal activities unknowingly.

In line with the regulation of Singapore government and compliance with the Anti-Money Laundering (AML) Act in Singapore, we are required to verify and update your personal details. Your information is always kept confidential and is only used for purpose of compliance.

For your account safety and to prevent unauthorised changes, we must verify your account identity before making any changes.

To change your account details, contact our Customer Service team via Viber or email at [email protected].

Alternately, you may fill up the contact us form here.

Yes, you can. You will need to ensure that you have zero balance in your account for both Everest Gold Units (EGUs) and USD.

You may subsequently contact our Customer Service team via Viber or email at [email protected] to change your registered bank account.

 

Alternately, you may fill up the contact us form here.

There are currently no transaction fees.

We currently do not charge for membership.

Yes there are. However, Everest Gold does not impose any bank charges on our users.

But when there is a local or international fund transfer, there may be charges imposed by various banks e.g. the Remitting Bank (User), the Beneficiary Bank (Everest Gold or World First Asia), the Intermediary Bank or others.

When a user makes an international fund transfer of USD 100 to Everest Gold or World First Asia, they may have to choose one of the following charge options. Do note that there are cases where charge options may not be available in certain banks and “SHA” is the default charge option selected.

a) BEN: Charges are borne by Everest Gold
Everest Gold bears all charges of the banks engaged in the transfer of the payment. The User only pays the remittance amount. All charges (of the Remitting Bank’s as well as those of the Intermediary and Beneficiary Banks, etc.) will be deducted from the remittance amount and your Beneficiary will receive the remaining balance.

Outcome: Everest Gold will receive USD 100 minus the Remitting Charges and Correspondent Bank Charges.

b) SHA: Charges are shared between User & Everest Gold
The User pays for the Remitting Bank’s charges and the remittance amount. Everest Gold bears the charges from all the other banks (the Intermediary and Beneficiary Banks, etc.), which will be deducted from the remittance amount. Everest Gold will receive the remaining balance. This is the most common type of charge, where each party bears their respective charges.

Outcome: Everest Gold will receive USD 100 minus the Correspondent Bank Charges.

c) OUR: Charges are borne by the User
The User bears all charges of the payment, i.e. the remittance amount, Remitting Bank’s charges, as well as charges from all the other banks (Correspondent, Intermediary and Beneficiary Banks etc.). The charges will be debited from the User’s indicated account after the exact amount has been identified. For cases where we have “OUR” arrangement with our correspondents, we will debit the agent charges upfront.

Outcome: Everest Gold will receive USD 100 in full.

The transactional currency is in US dollar (USD).

WorldFirst Asia is a payment service provider, appointed by Everest Gold to safeguard your funds.

We support over 160 currencies for 185 countries.

Our reference rate is retrieved from European Central Bank foreign reference rates.

For deposits, there is no minimum limit. However, there is a maximum limit of USD 3,000.

For withdrawals, there is a minimum limit of USD 100 but no maximum limit.

Fund transfer cannot be carried out from within the Everest Gold Platform. You must perform your fund transfer on your online banking platform separately.

When setting up a request for withdrawal, you will need to provide us with your bank’s Swift Code.

For users in Europe and some countries, both Swift Code and IBAN Code are required.

Yes, the cut-off time is at 10am (GMT+8) for deposit and withdrawal requests.

Any deposit / withdrawal done before 1000hrs (GMT+8) will be processed on the same day.

It will take 1 business day for local fund transfer and up to 3 business days for international fund transfer.

Go to “My Funds” on our platform and select the currency under “Total Cash Assets” to view all your transactions and its status.

After submitting your deposit request to Everest Gold, the status of your transaction will be reflected as “Pending” as we are processing your request.

You can submit your request to us here or in-app. Our Customer Service team will be happy to assist you.

It is a time-sensitive event where a limited supply of EGUs are offered at an attractive price benchmarked against international spot gold prices.

This event takes place on our platform and could last up to 7 days.

You can do so in 3 easy steps:

  1. Subscribe by entering your desired EGU purchase quantity. All funds used for subscription are withheld until the EGU allocation is finalised.
  2. Review and confirm your subscription. You may make multiple gold subscriptions during the same event.
  3. At the end of the subscription event, the EGU allocation will be finalised within 24 hours. All allocated EGUs will be credited to your account. Any unused cash balance will be refunded to your Everest Gold account.

In the case of oversubscription, users may not receive their subscribed quantity of EGUs.

Currently, you will be rewarded with 200,000 reward points (worth USD 20) for every friend you refer to our platform, while your friend will receive 300,000 reward points (worth USD 30) once they have passed our identity verification process.

Reward points can be exchanged for EGUs during our Gold Subscription Events. You can subsequently trade on our platform with these EGUs.

Log in to your Everest Gold account, go to “Profile” and select “Invite Friends” to find your unique referral code, QR code and referral link.

You may contact our Customer Service team via Viber or email at [email protected] gold to request for account closure.

If you have existing reward points, EGUs or USD in your account, you are advised to clear them.

Once our Customer Service team has verified your account details, an appointment will be scheduled for you to visit our office to sign off on an Account Closure Form to complete the account closure process.

It takes between 5 to 7 business days.