TORONTO, ONTARIO--(Marketwired - Dec. 20, 2016) - Goldmoney Inc. (TSX:XAU), the world's 100% reserved gold-based financial network, today introduced the Goldmoney Maximizer tool, a new account offering that enables verified Canadian Goldmoney Personal and Business users to borrow select currencies against up to 85% of their fully-reserved gold assets. Network users can use Goldmoney Maximizer Loans to make additional gold purchases or load Goldmoney Mastercard Prepaid cards to withdraw in local currency at ATMs and/or make purchases online and at point-of-sale.
With the Goldmoney Maximizer, users can repay the loan balance at their own pace, with no minimum monthly term payments. Loans are interest-free for the first 30 days, following which an interest rate of 12% per annum will be applied to the outstanding loan balance.
"The Goldmoney Maximizer helps Network users access their gold savings with another financial option, and provides them with the ability to leverage their balance to make additional purchases when gold prices reach desired levels," said Darrell MacMullin, CEO, Goldmoney Network. "The new lending offering is especially beneficial to our Business users, who can borrow against their gold balance to pay employees and vendors, or use it to grow their business by leveraging their working capital to purchase supplies, or boost their inventory."
While initially available only to Canadian Network users, excluding those residing in New Brunswick, Nova Scotia, Quebec, and Saskatchewan, Goldmoney plans to extend its Maximizer offering to additional provinces and countries globally in the future.
In accordance with Goldmoney's fully-reserved nature, no customer assets are used for lending activities. Loans are advanced to Goldmoney Network users by Goldmoney Inc. and are not funded from client metal.
Goldmoney Maximizer Loans
- All security for Goldmoney Maximizer Loans is held in Goldmoney's Toronto Vault. Users can repay loans in full or incrementally at any time with their available balance of gold stored in the Toronto Vault by selecting the "More" icon next to the loan in their Dashboard.
- Gold purchase loans are available in the following currencies: USD, GBP, EUR, CHF, and CAD.
- Goldmoney Mastercard Prepaid card load loans are available in currencies that correspond with cards connected to users' accounts, which are currently issued in: USD, EUR, GBP, and CHF.
- Standard deposit and redemption fees of .50% apply upon receipt and repayment of Maximizer Loans.
- A maximum of two loans can be outstanding at any given time on a Personal or Business account: one Goldmoney Mastercard Prepaid card loan and one gold purchase loan.
- If a user's loan balance exceeds 90% of the value of their total gold balance, the loan will automatically close out and the required amount of gold will be sold from the account to repay the value of the loan and any accrued interest.
For Goldmoney Maximizer customer support, Network users can contact: email@example.com
About Goldmoney Inc.
Goldmoney Inc. (TSX:XAU) is a mission-driven financial technology company that operates the world's largest 100%-reserved gold-based savings and payments network. Goldmoney® provides financial services as a trusted third-party, combining the unique attributes of gold with technology-driven innovation. Through the Goldmoney Network, comprised of Goldmoney Personal and Goldmoney Business, anyone with internet access can buy, sell, transfer, earn, or redeem physical allocated gold. Goldmoney Wealth offers bespoke precious metals custody and wealth services, trading and execution, card services, tax-free retirement accounts and independent research to high net worth individual investors and institutions. Goldmoney Inc. has more than 1.34 million user signups from more than 150 countries and $1.7 billion in client assets (as at December 19, 2016). Goldmoney Network is registered with the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC). Goldmoney Wealth is regulated as a Money Services Business by the Jersey Financial Services Commission. For more information about Goldmoney, visit goldmoney.com.
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