GoldPass trading app
The GoldPass app is being discontinued. Please note the following:
- PMGT holders will still be able to open a GoldPass account for the purpose of redeeming their PMGT for GoldPass certificates.
- No new customers are being accepted.
- GoldPass accounts with a zero cash and precious metals balance will be closed.
- As at 31 May 2023, GoldPass account holders with a positive cash or precious metals balance will no longer be able to deposit cash into the app or purchase precious metal.
The Perth Mint will provide regular updates to customers during an orderly wind down period.
Frequently asked questions about GoldPass
Is this decision related to the AUSTRAC audit?
No. This decision is based on a review of our portfolio of investment products.
Why is the Perth Mint closing GoldPass?
We constantly review our portfolio of investment products to ensure they keep pace with customer needs and requirements and are fully compliant with the markets in which we operate.
The decision was made following a regular review of all The Perth Mint’s customer offerings and products. GoldPass no longer fits with our business strategy and general market conditions.
What happens to existing GoldPass customers?
The Perth Mint will provide regular updates to customers during an orderly wind-down period.
GoldPass accounts with a zero cash and precious metals balance will be closed.
As at 31 May 2023, GoldPass account holders with a positive cash or precious metals balance will no longer be able to deposit cash into the app or purchase precious metal. They will have until 30 November 2023 to:
- Liquidate all precious metal holdings and/or withdraw all cash.
- Contact The Perth Mint to enquire about our Depository Online trading platform; OR
- Subject to the limitations set out below, request physical redemption of your precious metal holdings.
Before requesting physical redemption of your precious metals, please be aware that:
- Fees, charges and minimum holding requirements apply to orders for physical redemption.
- Physical redemption is subject always to GoldPass stock availability. We anticipate significant delays in the fabrication process for GoldPass physical redemption orders due to increase in demand for this service and are unable to confirm at this time when we will have sufficient GoldPass stock to fulfil those orders. Should you proceed to request physical redemption of your precious metal and stock is not available, we will add you to our waitlist and process your order when GoldPass stock is replenished.
Once an account no longer holds any cash or precious metals, it will be closed.
What if my account has a cash or precious metal holdings balance after 30 November 2023?
We will close your account and:
- for accounts with a positive cash balance only, we will return your funds to the bank account on file; or
- for accounts with a positive metal balance, you will be required to contact us on the details below to arrange for the transfer of your holdings to the Depository Online trading platform, which may include additional verification of identity requirements.
How do I withdraw my funds?
Before you can withdraw funds, you must verify your bank account. This will require you to provide details of a bank statement so that the account details you have submitted can be verified.
Once you have completed bank account verification, follow the steps below:
- Select ‘bank’ and then ‘withdrawal’.
- Enter amount to withdraw. This must be less than the total currency amount held in the app.
- Select ‘review’ to check details are correct.
- Select ‘back’ to cancel or ‘withdraw’ to proceed.
- I want to change my phone number/bank account details or address
I receive an error message when trying to access the app
The most likely reason a user encounters the ‘Setup Failed’ error is due to their device operating system not meeting minimum requirements.
In accordance with Google and Apple's guidelines, and to ensure optimal security and reliability, GoldPass has inherent minimum device requirements as follows:
- The minimum Android operating system supported will be Android 6.
- The minimum Apple operating system supported will be iOS 12.
Users currently running GoldPass on older software will need to perform a system update to ensure continued access to GoldPass.
Users on devices released prior to 2014 may find that they are no longer supported by Google and Apple and are unable to perform a system update. In this scenario, accounts must be migrated to a newer device to continue accessing GoldPass.
We encourage all users to update GoldPass to ensure continued secure access to the app.