Help: FAQ’s

step by step guides


In our commitment to transparency, GoldBank® seeks to answer commonly asked questions and deal with customer concerns below. If you have a new question, we want to hear it! Please submit your question via email. We’ll reply to you personally and add a new FAQ.


If you still can’t find what you are looking for, please contact us below.

Gold Wallet

Gold Bank gives you digital access to real gold, so you can own it, grow it, save it.

No crypto, no credits, no trading

Gold Bank has made Gold into a most reliable form of money for the modern age. No crypto, no credits, no trading, just real gold that you own to save, share and Gift.

How to Invest in your Gold Account ?

You can invest in your Gold Bank account via Bank Transfer, Knet Debit / Visa / Master card, Counter Cash Topup or Western Union.

Gold Bank is real deal buying real, physical gold

When you buy gold with ‘GoldBank’, you are buying real, physical gold, that is allotted to you. ‘GoldBank’ gold is not symbolic but the real deal, owned 100% by you.


Gold Bank App is powered by Noor Al Madinah for Retail in Gold & Jewellery Company W.L.L

What is Gold Bank

Gold Bank is a Mobile Application available on App Store & Play Store. It enables individuals to find a simple, safe and cost-effective way of Buying, Selling, Save and Storing of Gold.

It is not a trading platform infect it is a Saving platform, your gold is real and allocated to you which can be redeemed/withdraw with in 24 hours of your purchase.

Where is my gold?

Your gold is secured in high-security vaults located in Kuwait, and operated by Gold Bank.

Where is Gold Bank based?

Gold Bank is licenced and registered in State of Kuwait and Dubai

Can I see my gold?

Your gold is held in high-security vaults that are not accessible to our individual customers for security reasons.

Can I withdraw my gold?

You can cash out your gold at any time. We offer physical gold redemptions.

What happens to my gold if anything happens to Gold Bank?

You own the complete physical title to your Gold. In the unlikely event that something were to happen to Gold Bank, your Gold will remain your property.

How do I know if someone has received the gold I sent?

Once your gold transfer has been received, you will be notified by email and through the notifications area on the app.

Can I get Gold Bank without a mobile phone? / Does it work from my desktop?

No, as of now you can only access the Gold from mobile phones.

How long does it take the proceeds of a gold sale to hit my account?

It can take up to 3 business days for our bank to pass the funds to your bank. If it has been longer than that please contact us.

Who is eligible for a Gold Bank Account?

To open a Gold Bank account you must be over the age of 18 and reside in a country in which we operate. These countries are listed in our Terms and Conditions page.

Why have I been asked for an authentication code?

For large transactions we may ask you to enter an SMS code as an additional security measure. The Gold Bank app will prompt you to enter the code you receive via text message.

I owe my friend KD10. Can I use Gold Bank to pay him back?

Yes, just go to the Gift section and enter KD10 and your friend will receive KD10 worth of gold.

What if I enter the wrong amount when buying or selling gold?

All your Gold Bank purchases are based on the amount you decide to pay from your bank at the time of purchase so you can’t buy more than that by mistake. For selling, the system will only allow you to sell the gold you already have in your account.

What happens if I send gold to the wrong person?

As with bank and other money transfer systems it’s your responsibility to make sure you’re sending to the right person, if you enter an incorrect recipient you should contact our Customer Team and we can take certain steps to try and recover your transaction but we can only do these on a “best efforts” basis.

How can I pay for my gold?

When you buy gold you are presented payment options that are relevant to your country.

Can I send gold overseas?

You can send gold to recipients who are residents of any of the countries where Gold Bank is live. As we are rolling out in new countries, you can always find an updated list of the countries where we operate in our Terms and Conditions.

Can I spend my Gold in jewellery shops?

Yes, you can transfer the gold to shops Gold Bank account. check the list of the shops/partners.

Is Gold Bank associated with any Bank?

No, Gold Bank is an independent organisation not affiliated with any Bank.

How do I know how much my gold is worth?

Gold Bank streams live pricing to calculate the value of your gold at any time, based on the weight of gold that you own. These values are displayed within the app.

Do you actually send the physical gold when I gift?

No. The physical gold does not move from the vault. We just update who owns it.

How much does it cost?

Setting up a Gold Bank account is free. There is no cost to receiving gold, or sending or sharing and gifting in gold. There are fees associated with buying or selling gold which are detailed on the app at the time of the transaction. we do not charge for any services such as Vault, withdraw, Share, or Gift.

Do I have to connect a bank account?

No. If someone transfers gold to your account, you do not have to connect a bank account unless you want to sell your gold or buy more.

How do I know my gold is secure?

Your gold is held in high-security vaults operated by Gold Bank, The gold is physically audited on an annual basis by Auditors and is insured against damage or theft by Insurance company. Gold Bank operates bank-grade software systems currently used to serve millions of banking customers around the globe, and we perform independent third-party security testing on a periodic basis.

What is the eligibility Criteria for Gold Bank

Any Kuwait resident with a valid Bank Account in their name can enroll in Gold Bank.

Do you charge for storage of my gold?

Gold Bank offers free storage.

Is GoldBank Offically registered?

Yes, GoldBank has obtained all the offical and legal licence from State of Kuwait.

Is there is any dely on the rates.

Yes, we use 20 seconds rate refresh.

Why is the price of Gold Premium higher than the spot rate?

The price is set in consideration of the purchasing and sales transactions carried out on the mobile apps and is weighted according to fluctuations in the products international rates.
The assets underlying GoldBank prices are not paper gold listed on the stock market, but rather real 24 karat pure gold 999.9

How do I register to open a Gold Bank App account?

You can open a GoldBank account for free, in just a few minutes, on the Gold Bank mobile app.
Download the mobile app for iOS or Android.
Click on “Sign Up”.
Complete the required information: first name, last name, email, phone, password, gender, country, country of recident and civil id.
Read and accept the Terms and Conditions of Use.
you will be registered sucesfully and ready to use your Gold Bank Wallet

Why is KYC needed?

The safety and security of your gold are always our highest priority, and we are continuously working to improve these aspects. We have upgraded the Gold Bank experience by intigrating Kuwait Mobile ID (PACI) to prevent the misuse of your account or unauthorized access to your gold. This will ensure a much safer experience for you, while also allowing you to buy, sell or gift more gold than before.

What is the Purity of Gold offered under Gold Bank?

Gold Bank offers 24 Karat Gold of 999.9 purity (99.9% pure)
Made in Emirates Gold

What is the minimum & maximum amount needed to buy gold on Gold Bank?

The minimum amount of purchase is KD 1. There is no limit on the maximum amount as long as KYC requirements are complied with.

How can I get my orders details?

Orders details will be available at all times which you can view in gold bank app under my orders after login to your gold wallet accont.

How do I top up my Gold Bank Account?

You can top up your Gold Bank account by Knet Debit/Credit card or bank transfer or cash topup from our head office/partners. Topping up your account results in the purchase of precious metals.

Can I have a joint account?

No, you cannot have a joint account for Gold Bank.

At what price is gold sold/bought from customers?

We work hard to keep the best competitive price in the market.

Is the gold associated with my accumulations kept in safe custody?

Yes, the gold associated with the accumulations credited in your account is kept in safe custody with a Vaulting Agent, and the Gold balance in your Gold Bank Wallet is allocated Gold, for which an independent inquiry can be generated with the Vaulting Agent for having the confirmation of the storage of such accumulated Gold in your gold wallet.

Who will ensure the physical vault?

Gold Bank has partnered with the market leader in secure logistics and vault services, to store your gold. As part of their duty, the secure storage provider takes out a comprehensive insurance policy, which includes the cover on your gold. We review our risk & insurance policies regularly, to ensure that we are covered for any risks.

Who will manage consumer complaints?

You may write to us at or contact +965 4100 5653 (GOLD)

Is there any Grievance redressal mechanism?

Gold Bank ensures that your interest is always prioritized; a Physical Gold has been kept in the custody by Gold Bank for and on behalf of the customer in the custody of Vault Keeper. For any grievances, the customer can approach Gold Bank at or contact +965 4100 5653 (GOLD)

Can you transfer Gold from your gold bank wallet to any other person’s gold bank wallet?

Yes, provided the other person has the same Gold Bank Wallet account on our platform and the receiver’s gold wallet should have an active Gold Bank Wallet.

What is active Gold Bank Wallet?

Gold Bank Wallet only gets activated after the purchase of the minimum required Gold (Which could be as low as the equivalent to KD1.

What if the customer dies?

The legal heir of the customer can claim the customer’s account Terms and conditions applied. Thereafter, they can access the customer’s account, including selling the gold balance or requesting for delivery of the gold.

What happens when payment is deducted through KNet (debit/credit card) but the gold is not credited in Gold Bank balance?

It reflects instantly in your Gold Bank Wallet, In case you are unable to view your Gold Credit then you will need to contact our customer care team at or contact +965 4100 5653 (GOLD) and we will resolve your issue.

Can I redeem my gold in swiss gold packaging like vulcambi or in shape of lira.

Yes, you can redeem your gold in packaging or in Lira by paying extra making terms and conditions applied.

What are the company's working hours? Where are your branches?

Head Office:
Trade License No: 3052317

Partners & Agents:
Taj Al Badher Gold & Diamond Jewellery
Mubarakiya, Kuwait – Central Gold Market, Store 78
From Saturday – Thursday
From 10 AM – 1:30PM
From 4:30 PM – 9:30PM

Friday from 5PM – 8:30PM
Taj Al Makkah Gold and Diamond Jewellery
Eid Al Nassar Complex, Store 21, Mubarakiya, Kuwait
From Saturday – Thursday
From 10AM – 10PM

Friday from 5PM – 10PM
Taj Al Madinah Gold and Diamond Jewellery
Eid Al Nassar Complex, Store 41, Mubarakiya, Kuwait
From 10 AM – 1:30PM
From 4:30 PM – 9:30PM

Friday from 5PM – 10PM
Noor Al Madinah Gold and Diamond Jewellery
Al Fahad Complex, Store 11, Mubarakiya, Kuwait
From 10 AM – 1:30PM
From 4:30 PM – 9:30PM

Friday from 5PM – 10PM