Changes to monthly storage fees

Are the monthly storage fees changing over time? If they do change do I keep the old fee for the metals that are already stored or do you apply the new fees without warning?
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Comments

  • nienie Posts: 162 Bronze ✭✭✭
    I am a customer since two years and nothing has changed until now (as far as I know).
  • plashadpobedyplashadpobedy Posts: 23 Tin ✭
    I've had a Personal account for 2 years. I think, the max. storage fee was 0.018% on GAU, which would be about US$50/yr on my GAU of 613gm. That's about the same cost as a small safety deposit box in a bank (i.e. Bank of America small box = US$51/yr). I assume, come 1 January 2020, there will be the $10/month minimum fee. It is extremely doubtful I will fund my new "holding acct" with additional funds now.

    I think, with this exorbitant storage fee, that Goldmoney, just shot themselves in the foot, i.e. on an account balance of US$1000, a US$10/month storage fee amounts to 12% (US$120). I think, they just lost me as a future customer.
  • plashadpobedyplashadpobedy Posts: 23 Tin ✭
    Joao-oliveria.....(above post of 20 November 2020):

    I think, since your interrogative of 20 November has not been responded to by Goldmoney, I'd say, you (and I) will be paying the "new" storage fees (US$10/month) come January 2020. If you are a small investor, this is like, all of a sudden, raising your margin requirements on a short position. You will probably have to fold, even if your position was a profitable one.
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