Sell gold - Google Pay Help (2024)

FAQs

Can I sell gold in Gpay? ›

You can digitally sell gold you own in your Google Pay Gold Locker back to MMTC-PAMP. The money from your gold sale is applied to your primary bank account on Google Pay. You can also arrange for a legal heir to inherit the gold in your Gold Locker.

When you buy or sell gold through Google Pay, you purchase 99.99% pure 24 K gold units from MMTC-PAMP. Your gold is stored in a Gold Accumulation Plan (GAP) that MMTC-PAMP maintains for you by storing your gold in the physical form as a custodian as long as you own the gold.

Note: Taxes may be different in different areas, based on your postal code. Enter the amount of gold you want to buy, in INR. There's no overall limit on the total worth of gold you can buy. However, there's a daily limit of ₹50,000 that you can buy in one day.

Process to Purchase Gold on Google Pay

Open the Google Pay app on your smartphone. Type 'Gold Locker' in the search bar. Select 'Gold Locker'. Select 'Buy'.

You can sell gold for cash in India via the MobiKwik app. This app not only helps you invest in digital gold, it also helps to sell the gold that you have bought. You can simply log on to the app and enter the amount you want to sell. The money will be credited to you in 24hrs.

Can digital gold be converted to cash? Yes, digital gold can be converted to money by selling it. After you sell the digital gold, an equivalent amount of money will be transferred to your bank account. Digital gold can be easily sold online any time you want.

Payment method encryption.

Since Google Pay doesn't store your card details on your device, no one can access your info, even if it's unlocked. Learn more about automatic security features.

When you are registering as a first-time user after downloading Google Pay, the first transaction limit on Google Pay is Rs. 1,00,000. However, if you have changed your phone, mobile number, or UPI PIN, you can transfer a maximum of Rs. 5,000 for the first 24 hours.

What is Google Pay gold account? ›

"GAP" shall mean the Gold Accumulation Plan provided by MMTC. "Gold Account" means an account on Google Pay which has been linked to the GAP. "Gold" means the gold in your GAP account.

GPay/Google Pay Transaction Limit Per Day

The GPay limit per day for money transfers is ₹1,00,000. Moreover, you can only send money a maximum of 10 times in GPay or any other UPI app.

Reputable gold dealers or coin shops often provide the fairest prices for gold coins and bars. It's advisable to compare offers from multiple buyers and check their credibility through customer reviews and ratings provided by the Better Business Bureau.

Gold ingots are mainly obtained by smelting raw gold, gold ore and nether gold ore, or just mining nether gold ore, dropping gold nuggets.

If you are in one of the states that recognize gold and silver as legal tender, you may use that metal in the state for currency. That does not mean a business must accept gold as tender. It is up to the business in most states.

Local jewelers and pawn shops provide a quick and straightforward option for selling your gold. They typically offer on-the-spot evaluations and immediate cash payments.

Selling with a reputable online dealer like Abe Mor is the best way to get close to market value, and turn your gold bullion into cash without any undue hassle. Wherever you sell your gold bars or coins, be patient and follow the best practices outlined above.