Buy, sell gold on Google Pay app; here is how to; check online guide
Do you have Google Pay app installed on your smartphone? The app can be used to make various online financial transactions like making payments, doing recharges, etc. But do you know that you can use the app to buy or sell gold? Yes, you can digitally buy and sell gold on Google Pay through MMTC-PAMP India Pvt. Ltd using your existing payment methods. The information was provided by Google Pay over its support page. According to the information provided, when you buy or sell gold through Google Pay app, you purchase 99.99 percent pure 24 K gold units from MMTC-PAMP. The gold you buy is stored in a Gold Accumulation Plan (GAP) maintained by MMTC-PAMP.
Gold purchased or received on your Google Pay account appears in your Gold Locker. It can be noted that the Gold Locker is a visual, digital representation of your GAP account balance. Also, you can view all your transactions, buy gold or sell gold back to MMTC-PAMP from your Locker. Also, your Google Pay Gold Locker is linked to your SIM and phone number. If you change your SIM or phone number, you need to verify your identity to restore access to your account.
If you also want to buy or sell gold via Google Pay app then check the step-by-step guide here:
1. Open Google Pay.
2. Tap New.
3. In the search bar, enter "Gold Locker" and tap on it.
4. Tap Buy. The current market buying price of gold (including tax) appears. This price stays locked for 5 minutes after you begin the purchase, as the buying price may change throughout the day. It can be noted that the taxes may be different in different areas, based on your postal code.
5. Enter the amount of gold you want to buy, in INR. There is no overall limit on the total worth of gold you can buy. However, there is a daily limit of
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