Goldlane Digital Gold faq

1. How to sell my accumulated gold on GoldLane?

After entering the GoldLane app,

1. open sell option
2. choose the commodity and enter the weight you want to sell.
3.Check your bank details and enter iPin to proceed.We will transfer to your account after verification

2. Why are buy and sell prices different?

GST and other local taxes are few reasons for the difference in buying and selling prices.

3. How long does it take for my account to be credited if I sell my digital gold?

1. For KYC verified customers, the Amount will be credited in 24 hours.
2. For unverified customers, the Amount will be credited in 24-72 Hours.
Note: In extremely rare cases, we may take 3 days for verified GoldLane users and you will be informed the same.
  GoldLane reserves right to cancel sell order in case of mismatch in KYC , Bank verifications.

4. What happens if I enter a Bank account mismatching the registered user name?

If the bank account details given for settlement do not match with that of the user, we will reject the sell order and your Gold/Silver will be reversed back to your digital vault.

5. What should I do if I want to use some other person’s Bank Details?

GoldLane is committed in protecting your transactions.
Kindly contact our support team with a valid reason to use some other Bank details for sell order settlements.
Please note that You may also be required to submit additional documents to complete this process.

6. I sold my gold/silver but still haven’t received cash even after 3 working days?

We take a maximum of 3 working days to verify the transaction and settle the amount with your bank. In extremely rare case if it has been delayed for more than 3 days, kindly contact our support team and we will help you out.

7. Is it possible to change my bank account details?

In order to change your bank account details, simply
1. Go to the Settings tab on the GoldLane app
2. Click on Bank Details and Edit.

8. Can I cancel my sell order?

Unfortunately, once an order is placed, you will not be able to cancel it. In some case, we may cancel the sell order if the KYC is unverified

9. What is the minimum sell value?

The Minimum selling value for digital gold and silver must be greater than or equal to Rs. 10.

10. In case of instant transfers, what are the charges?

While normal settlements are free of cost, we levy a charge of Rs.10/per transaction for instant settlements. However, your bank account details shall be verified for all the processes.

11. How to create sell alert?

Go to sell screen and click on the alert icon on the top right to create
(or)
Go to settings, and click on “My Alerts”, then click "create Alert" and select sell alert.
Now, choose your precious metals, gold or silver and then enter the amount in rupees above which you want to sell. Add the desired amount of metal from your vault balance. Here you can choose to sell the metal automatically at the target price which you have set.

12. How does a sell alert work?

When you set a sell alert in the GoldLane app, you will be notified when the gold price touches or crosses the price that is set by you. After receiving the notification you can decide if you want to sell gold at that particular price. Here again, we relieve your stress of watching the gold price daily.
In case if you have chosen to select automatically, then the sell order will be created automatically when the price reaches your alert price.

13. Will my order be executed automatically?

Yes. You have an option of selecting ‘Automatic sell’ option where the app will sell your pre-decided gold or silver once it touches the target price decided by you. then the sell order will be created automatically when the price reaches your alert price.

14. How will I be notified of the sell alert?

You will get notified by push notification from the GoldLane app.