Gold

• How do I buy gold on Wizely?

You can buy gold directly from the Wizely app. Just go to the Gold Dashboard, enter the amount you want to buy, and confirm your purchase. The gold will be securely added to your account.

• What is digital gold?

Digital gold is real 24-karat gold stored securely in a vault. It allows you to buy, sell, or redeem gold online without the need for physical storage

• Is digital gold Real gold?

Yes, Digital Gold is a real 24-karat Pure Gold and can be bought for as low as ₹100 using Wizely App which means one doesn't have to worry about storing it in a safe place. All you need is the Wizely App on your smartphone, and you're set for Gold Investment.

• Where is my gold saved?

The gold you buy is stored securely at world-class Brinks Vaults. BRINKS is a global market leader in secure logistics and vault services that stores and safeguards all the gold that you have purchased via the Wizely App.

• Is this physical Gold?

We don’t offer physical gold but you can exchange digital gold bought here with physical gold in any jewelry store partnered with SafeGold.

• Is there any lock-in period or holding period?

There is a Holding period of 48 hrs. This means you won't be allowed to sell gold for a window of 48 hrs just after buying it. This is done to prevent fraudulent transactions.

• How pure is the GOLD?

Safegold offers 24 Karat Gold of 995 purity (99.5% pure). Unlike local vendors, with SafeGold, you buy directly from the manufacturer.

• What is the minimum and maximum gold a customer can purchase?

The minimum transaction limit is ₹100 and the Maximum is ₹1,00,000 which is the UPI transaction limit. The daily transaction limit for users would vary based on the UPI transaction limit enabled by their banking partner for their account there is no daily transaction limit that is set by the Wizmo app.

• What is the procedure for checking gold purchase statements during the holding period or after selling it?

A gold statement would be available inside the Manage section of the app. The users would be able to download the invoice of any transaction that they perform irrespective of the Holding Period. They won't be allowed to sell newly bought gold in the Holding Period.

• Are there any checks necessary to buy gold?

We are making sure that the user is Pan verified before they can make a first purchase on the app.

• Is the gold bought safe?

Unlike physical gold, you don’t have to worry about theft or expensive locker fees. Your gold is stored in bank-grade lockers free of cost. The gold purchased on your behalf is stored with Brinks the leading safe keeper of precious metals across the world.

• How do I sell the Gold?

You can sell gold from the Manage Section. If you have sellable gold then you would be able to sell gold by clicking on the Sell gold button.

• I am unable to sell gold or withdraw my amount. Why?

You won't be able to sell gold because of the following reasons:

• If you try to sell gold within 48 hr window after buying it.
• The other reason could be that you might have not done PAN verification which is stopping you from selling gold.
• Your UPI ID might not be valid please check that you are using your UPI ID for selling gold.
• If your reason is not listed, you can raise a concern

• I am unable to buy gold or invest the amount. Why?

You might not be able to buy gold due to the following reasons:

• You might have not done PAN verification which is stopping you from selling gold.
• You might be doing a transaction greater than 1,00,000 lakh Rupees which is not allowed for a UPI transaction.
• If your reason is not listed you can raise a concern

• Is a nominee required at the time of investment?

No

• The withdrawal amount has not been credited to my account.

Usually, it is an instant process but if the amount is not credited to your account there is no need to worry, please wait for 5-7 working days for it to reflect in your account.

• Why am I unable to verify my PAN?

This could happen because of the following reasons:

• The name does not match with the PAN name
• Your DOB does not match with the DOB declared on your PAN.
• There are 3 attempts for doing the above verification if the user fails to match the above details then in that case you will be blocked and ineligible to do any transaction on the app.
• In case the reason is not listed please raise your concern