However, my questions is regarding the 3% convenience fee when when a credit or debit card is used. What's the reasoning behind this fee being as high as it is ? Especially considering that there are purchase and sell fees as well as fund withdrawal fees. Is there something I'm missing ? I don't see the point when Goldmoney is making profits from the purchase and sales without the fees at all.
If you hold metal assets for 1 FY that would equate to a minimum of a 4.15% annual expense ratio at withdrawal.