When was the last time you planned to buy Gold or Silver, but ended up cancelling the plan because of your schedule, or maybe you had other commitments to take care of? I confess, I belong to your category too. I have been postponing buying Gold, as an investment, for last 8 months. And it certainly gives a lot of frustration when you fail to put your hard earned money in some good investments.
Last evening, I met my best friend over coffee and that’s when I shared the same problem with her. She started laughing and told me that she WAS facing the similar issue, but everything got sorted after she heard of an Android iOS app called Metal Pay. Metal Pay is so amazing that it does not even allow you to buy Gold Silver, but you can also sell it. And all of this happens in the digital world. Is this already sounding like a sponsored post? I apologise, but it’s not. Keep reading and you shall find out (wink)
Since it’s a free app, I installed it on my new Google Pixel 2 XL & opened it. Let me actually take you through the registration process before I share rest of the things. Sounds cool? So yes, I opened the app and it looked pretty self explanatory to me to sign up to Metal Pay. It just took some basic details from me and I was done with sign up in not more than a minute (pardon my slow typing speed while entering credentials, haha)
Have a quick look at the below screenshot I took for you to make it visually easier.
Congratulations! You are one step closer to getting rid of the issues you were facing earlier. Once the sign up process is completed and enter the app further, you are greeted with a very simple, one-page quick tutorial on ‘How It Works’, where you learn about Opening an Account, Buying or Selling Gold and Silver, Secured Vault, and Requesting Delivery.
The next thing you would be required to do is to check if Metal Pay has operations in your city or area. Just enter the pin code of your area and it shall do the rest for you. It will quickly tell you if they serve in your area or not. In case, you see that your pin code does not have their operations, just send them an email at email@example.com and they shall start putting in their efforts to start serving there as well.
You will be able to see the current Gold and Silver price on the home page of the app, which keeps changing as per the actual price in the market. Once you are sure of what you would want to buy, just click on the BUY button there. As soon as you hit on it, it will ask you the amount you would like to invest. This investment starts from as low as Re. 1, which is just amazing. I cannot dream of buying Gold or Silver worth Re. 1 at a shop, haha. For demo purpose, I bought Gold worth Rs. 10000. See some of the screenshots below for better understanding.
Things become even more easier when you see n-number of options for the payment. You have the options of Credit Card, Debit card, Net Banking, UPI, and Mobile Wallets as well. You get a timer of 7 minutes to complete the transaction successfully, after which it fails and you will be required to restart your transaction.
Every purchase you do on Metal Pay goes to your Virtual Locker, which also reflects your Locker Balance for Gold and Silver separately. If you wish, you can keep doing transactions and it shall keep getting added to your Virtual Locker. Whenever you feel that you would wish to either sell this Virtual Gold and Silver, or maybe wish to get it delivered to your address, you can just select the respective option and get it done without a worry.
When you sell the Gold and Silver, you will be required to add your Bank Account details where the money will be transferred. This process usually takes 2 days as per the company policies. You can get a transaction worth Rs. 50000 done at a time at it’s maximum, but if you wish to get this upgraded to unlimited, you will be required to link your KYC documents with your account for obvious reasons. The physical delivery of Gold and Silver usually takes 4-5 working days to get delivered, which is quite a reasonable one.
After knowing all these details and having an app like Metal Pay on my phone, it became pretty easy for me buy Gold and Silver whenever I would wish to. I can do it wherever and whenever. Isn’t it? What do you think about it? Would you also wish to try Metal Pay and see how it simplifies the entire process? Let me know in the comments section below.