How to use GoldRepublic

Personalize, prove your identity and validate your account

When do you need to personalize your account, prove your identity and validate your account?

If you wish to actually start making use of your account, we need you to personalize, prove your identity and validate your account within 30 days after opening your account.

Only after the identification and the validation procedure have been completed and approved by GoldRepublic, will GoldRepublic be able to activate your account for carrying out transactions in gold or silver.

How do you personalize your account?

You can open an account anonymously in order to be able to fully examine the possibilities of GoldRepublic. If you wish to actually start making use of your account, you will have to personalise your account with your personal details. To this end, you must answer all of the questions correctly and completely.

Procedure
1.    Login to your GoldRepublic account
2.    Select ACCOUNT VALIDATION
3.    Follow the prompts

Why do you need to prove your identity?

GoldRepublic is obliged by law to establish the identity of its customers.

Why do you need a contra account?

In order to make use of the services provided by GoldRepublic, you must have a contra account. A contra account is a bank account held in your name and address at a recognised banking institution from which you shall transfer your first funds to your cash depot. Your contra account is the only account to which GoldRepublic shall transfer funds to you for instance in the event of selling your precious metal or a withdrawal from your cash depot.

You can set your contra account during the personalization process.

Can you fund and trade before you proved your identity and validated your account?

No. There are two reasons for this: one is legal, the other is practical. Legal: GoldRepublic is obliged by law to establish the identity of its customers. Practical: both GoldRepublic and you are much safer when we agree at the outset the repayment destination of your funds - for when you eventually sell your gold and withdraw your money.

How do you prove your identity and validate your account?

There are two ways to prove your identity and validate your account. We prefer you to do it online, through our website. However, we offer a backup postal method for those clients who cannot prove their identity and/ or validate online.

If you're comfortable using your scanner/digital camera, you can use the ideal payment method and if you have the right documents to hand, it should only take 10 minutes of your time. Your details will then be reviewed within a few days, and we'll update you by email.

How can you prove your identity and validate your account online (preferred)

During the personalization and validation of your account we will ask you to upload scans or digital photographs of your passport, or a national identity card/driver's license with a clearly visible photograph.

If you are acting on behalf of a legal person, you must prove that you are fully authorised to act on behalf of a legal person. In any case, you must provide GoldRepublic with a recent extract from the Chamber of Commerce as well as a copy of your valid prove of identity.

Immediately after the personalisation of your account you can validate your account by transferring €0.01 from your contra account to your cash depot by using our Ideal payment method.

Procedure
1.    Login to your GoldRepublic account
2.    Select ACCOUNT VALIDATION
3.    Follow the prompts
4.    Upload a copy of your valid prove of identity in the secure environment
5.    In case you are acting on behalf of a legal person upload a recent abstract from the chamber of commerce (not older than 6 months)
6.    Transfer €0.01 from your contra account using the Ideal payment method

How can you submit your document electronically?

You can submit identity verification files to us securely. Your file(s) will be encrypted during transmission and then unencrypted and stored at GoldRepublic. You must be logged into your account to use this service as your login creates the secure encrypted connection between your computer and GoldRepublic. The files you send are not subsequently available to you, so you should not treat GoldRepublic as a secure vault for your data files.

File types: GoldRepublic can interpret most common image file types. If we cannot interpret your file(s) we will contact you.

Viruses: You are responsible for ensuring that you do not send us a file infected with a virus. If we detect a virus in your submitted file we will notify you and we may charge your GoldRepublic account for the cleaning up and clerical work resulting.

Uploaded documents may not exceed 1 megabyte each. The file format of your scans can make a huge difference to the size of each file. If you're using bitmap files (.bmp), try using JPEGs (.jpg) instead. They can easily be 10 times smaller for the same quality of image. Please ensure your scans are high enough quality that we can clearly read the all the text in the image. Reducing your image size too much could make them illegible and unusable.

You don’t have a scanner what can you do?

If you have a family member or a friend who does, you may ask them to scan your documents for you. Nowadays most internet cafes offer this service too.

Alternatively a digital camera or even a high-resolution camera-phone is just as good. If you don't have either of those, please use our postal method.

Can you email your documents?

No. The problem with emailing your documents is that it is insecure. By uploading your documents via our website, we solve this problem. The transmission of your documents is protected using high-security encryption techniques, and allows us to reliably tie the document to the owner of the account.

Prove your identity and validate your account by post

If it is not possible for you to prove your identity and/ or make a validation transaction online you will need to send us a copy of your passport (and a copy of an extract from the Chamber of Commerce in case when you act on behalf of a legal person) and/ or transfer €0.01 from your contra account to your cash depot.

Only after the prove of identity and the validation procedure have been completed and approved by GoldRepublic, will GoldRepublic be able to activate your account for carrying out transactions in precious metals.

Procedure
1.    Login to your GoldRepublic account
2.    Select ACCOUNT VALIDATION
3.    Follow the prompts
4.    Send your valid prove of identity and in case you are acting on behalf of a legal person a recent abstract from the chamber of commerce to GoldRepublic
5.    Transfer €0.01 from your contra account to Stichting Beheer Derdengelden GoldRepublic and mention your account number and your username as a quoting reference.

GoldRepublic postal address (no stamp is needed)
GoldRepublic attn. Afdeling Klantenadministratie 
Holland Financial Centre
Antwoordnummer 47350
1070 WC, Amsterdam

Bank details Stichting Beheer Derdengelden GoldRepublic
Account number:     14.30.83.341
IBAN:     NL57RABO0143083341
Swift/ BIC code:    RABONL2U
Address:    Mondriaantoren, Amstelplein 8, 1096 BC Amsterdam

How will you know when you are validated?

We'll email you as soon as you're validated. In addition you can always track the progress of your validation by logging in and viewing the ‘Your account’ page.

We have your documents, why are you not validated yet?

All account validations are checked and reviewed manually before being confirmed on our system. Once you've sent us your documents, please allow 3 working days for us to process them. (Naturally it will take longer if you've sent your documents by post.)

If after that time you haven't heard anything, please double-check your email account. If we cannot validate your account straight away for any reason, we will always email you with details of the problem and how to proceed.

If you still have concerns, please contact us.