Perth mint and funding from an account that is soon to close

[Marie Manila]

Hello,

I currently have an account in Africa, which I am considering to close soon. With this money I would like to buy gold at Perth Mint. Therefore, I have registered for the "Perth Mint Depository Online account".
I now have to specify my reference account there:

The bank account details you provide below must be in the same name as your depository online account. This must be the bank account from which you will send funds to make a purchase and the bank account to which we will remit funds when you request it. Funds sent from a bank account different to the bank account you nominate against your depository online account will be rejected and due to bank processing times may take up to six weeks to be returned to you.
Click to expand...

If I now specify my account from Africa there, I can transfer money from Africa to Perth Mint, but since the account in Africa is expected to be closed, the money will be trapped at Perth Mint?
Is it possible to change the reference account at Perth Mint afterwards? I could not find anything in the FAQ or on Google.

Has anyone tried depositing money from an account other than the one specified?

 

[tolstoy]

Buy Crypto immediately .Later you can buy your Gold at the right price.

 

[Marie Manila]

Crypto is not an option. I already have enough crypto and now I want to invest more in gold.

 

[tolstoy]

Marie Manila said:
Crypto is not an option. I already have enough crypto and now I want to invest more in gold.
Click to expand...

1.Why is crypto not an option when you know anytime you could lose access to the money?
2.Why not work with a third party for buying the gold if you have issues buying it yourself?

 

[JohnnyDoe]

If you want to buy gold on paper, use futures or an ETF. If you want the real thing, buy in person or have it delivered to you.

Toggle signature

@JohnnyDoe ”“ Your #1 Source for Guidance in Different Offshore Fields​

 

[Martin Everson]

Marie Manila said:
Is it possible to change the reference account at Perth Mint afterwards?
Click to expand...

You should be allowed to later update to a new bank account in same name as on Perth Mint account at a later date. This would just be common sense for them to allow this.

Toggle signature
Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.

 

[Marie Manila]

tolstoy said:
1.Why is crypto not an option when you know anytime you could lose access to the money?
2.Why not work with a third party for buying the gold if you have issues buying it yourself?
Click to expand...

I do not have any problems buying gold by myself.
But I do not want to store more gold in my country of residency.
If owning gold gets illegal in my country, I would face some problems to sell my gold.

JohnnyDoe said:
If you want to buy gold on paper, use futures or an ETF. If you want the real thing, buy in person or have it delivered to you.
Click to expand...

In my country gold on paper and ETFs are taxed differently than physical gold. It is better to own real gold.

Martin Everson said:
You should be allowed to later update to a new bank account in same name as on Perth Mint account at a later date. This would just be common sense for them to allow this.
Click to expand...

Yes, you are right. I have now found out that the reference account can be changed manually via customer support. But this will require verification again.

 

[tolstoy]

Marie Manila said:
I do not have any problems buying gold by myself.
But I do not want to store more gold in my country of residency.
If owning gold gets illegal in my country, I would face some problems to sell my gold.
Click to expand...

Exactly for this reason advised to work with a third party.

 

[EliasIT]

Marie Manila said:
Crypto is not an option. I already have enough crypto and now I want to invest more in gold.
Click to expand...

I invested in real Gold bars 4 years ago, has been a good investment so far. It's stable and low risk.

Toggle signature
If money is your hope for independence you will never have it. The only real security that a man will have in this world is a reserve of knowledge, experience, and ability!
My personal favorite thread posted in the Mentor Group. Group of investment companies to avoid licensing.

 

[koohl]

Marie Manila said:
Yes, you are right. I have now found out that the reference account can be changed manually via customer support. But this will require verification again.
Click to expand...

They accept foreign accounts or only African accounts?

Toggle signature
My Journey to successful card processing for Replica, IPTV, Adult and Gaming business.
I keep my journey in the closed forums in Mentor Group for less saturating methods.
Please understand that I don't sell any services or do consultancy, you don't need to contact me about that!

 

[Marie Manila]

koohl said:
They accept foreign accounts or only African accounts?
Click to expand...

As far as I can see, they can manually change the reference account to any account.
However, it has to be in your name. They don't accept 3rd party payments.

 

[fc70]

Marie Manila said:
As far as I can see, they can manually change the reference account to any account.
However, it has to be in your name. They don't accept 3rd party payments.
Click to expand...

And don't forget you can always collect your metal in person at the Perth Mint or have it shipped to you.