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 HelloGold - Ask Me Anything, related to HelloGold or gold in general

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victorboy
post Aug 18 2021, 02:49 AM

3 ngien yiu 3 ngien :(
******
Senior Member
1,756 posts

Joined: Nov 2004
From: Kuala Lumpur



i just have a question. now i don't inject any money into my hello gold account. also, notice hello gold charged me from administration fee monthly from your gold. will this make your total of gold, turn to be zero gold in your account?
victorboy
post Aug 18 2021, 05:42 AM

3 ngien yiu 3 ngien :(
******
Senior Member
1,756 posts

Joined: Nov 2004
From: Kuala Lumpur



QUOTE(thecurious @ Aug 18 2021, 04:03 AM)
The administration fees are charged based on your total gold value. It is calculated on a daily basis, so as your gold value decreases, the fees decrease in proportion.

So unless gold value becomes zero, or the administration fees are a constant number, it cant become zero unless there is something else to consider.
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meaning the total of the my gold will go to zero, i did not earn or lost everything? the concept is like, when your back account inactive. the bank have the right to reduce the minimum amount until your account become zero?

meantime i am observing the benefit and the sustainability of having hello gold account. cryptocurrency quite handy where i have the total of bitcoins with me, even the RM currency keep dropped. i still have the total of crypto currency with me.

This post has been edited by victorboy: Aug 18 2021, 05:43 AM
victorboy
post Aug 20 2021, 12:54 AM

3 ngien yiu 3 ngien :(
******
Senior Member
1,756 posts

Joined: Nov 2004
From: Kuala Lumpur



QUOTE(thecurious @ Aug 18 2021, 08:30 AM)
What? How did you arrive at that conclusion? Reread what I said.
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sometime people need time to digest. allow those people like me to spend time read and read it again.
anyway, by chipping off the gold as administrative fee. i think this is not a good way to do so.
like cryto, the value of that is much higher, sometime lower, than the fiat.

i have sold my golds. it is a good experience to use hello gold app to buy golds.
victorboy
post Aug 20 2021, 01:05 AM

3 ngien yiu 3 ngien :(
******
Senior Member
1,756 posts

Joined: Nov 2004
From: Kuala Lumpur



QUOTE(MUM @ Aug 18 2021, 01:05 PM)
From their PDS,...

Annual Administrative Fee: 2% per annum of the value of the gold held accrued on a daily basis and charged on a monthly basis.
HelloGold takes its fees from the amount of gold owned by the customer.
Therefore the quantity of gold owned by the customer will be reduced due to the sale of gold necessary to pay the administrative fee attributed to the gold in the customer’s account.

Additionally, HelloGold has the discretion to consider any HelloGold account closed if it appears in HelloGold’s record that the HelloGold has a zero or nil balance for an extended period of time, upon the withdrawal of all the gold and cash available in the HelloGold account or by operation of law.
https://www.hellogold.com/product-disclosure/
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sorry for double posting. i have to purposely require quote your statement, and reply it separately. if you are working with hello gold, i am very happy with your patiently reply. not all well educated, and i think we need to give spaces for those who having a hard time to catch up.

» Click to show Spoiler - click again to hide... «


refer to the picture. also i receive a reply via whatsapp from hello gold customer service. they mention this month i have been charged two time, it is because the first charges is for july month. so, after doing some experiment and the reread statement from thecurious. together with slow digestion on what i have read. i am pretty sure understand the whole concept.

but again, chipping off the gold as service fee, for my humble opinion, i think it is not so comfortable for people who buy the gold from you. the gold is much valuable than your fiat currency. if the market is good, per 0.0001 grams really a matters to some people.

anyhow, thanks for the platform openly to public. at least people who interest to get gold, have alternative platform like yours, with easy buying and managing theirs asset.

again, the latest administration fee charged is for the month of august and the fee for selling you gold.

This post has been edited by victorboy: Aug 20 2021, 01:06 AM

 

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