Gold pay

    Last post ago over 6 years by LHofsdal
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        • Started by
          Superstar Member
        • last active 5 months ago
        who would want to use Gold Pay for the alternating deposit method?

        I did some research on it and I didnt like it because the fees are crazy. 
        visa deposit fee:  8.8% of deposit amount or $12.50 (whichever is higher)
        withdraw via Money Gram fee:  8% of the withdrawal amount or $25 whichever is greater.

        I dont understand "whichever is higher or greater" thing.  Does it mean if my deposit amount is big and they will just charge a flat fee of $12.50?, same thing with money gram withdrawal, will they just charge a flat fee of $25 if my withdrawal amount is big enough?
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        • last active 8 hrs ago

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        8% or $25 whichever is greater on the withdrawal.  So if you withdraw $50 they will charge $25 because 8% is $4 which is lower than $25.  However if your withdrawal is $600 they will charge you $48 because the 8% is higher.  Sounds like a huge ripoff.

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        • Replied by
          Mighty! Member
        • last active 19 hrs ago
        Almost all methods are seeming like a huge ripoff lately!  The only good thing is QT and only because your winnings go in there free of charge, and out to another casino same way.  $30 fee minimum $100 withdrawal so you have to have $130 to get $100 and then it's a bank wire only and my bank would slap me down with cyber-lasers or something if another wire were to go in, plus there are usually hidden fees there also.  I'm thinking of getting it into QT, transferring to Cyberbingo, where there is no playthrough or penalty, and paying $50 for them to courier me a check.  I stand a better chance of getting *some* of my money that way.  Oh, the pain!  The pain!
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          Full Member
        • last active 21 hrs ago
        I did the gold-pay it was my only option at the time not only are the fees crazy high and you can only put money in your account once every 15 days needless to say I'm not using it anymore
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        • last active 3 months ago
        I am not sure why the casino's are offering this as a deposit method. Look at line 3 in their terms of use:

        (1) The weight-based balance of your holdings account represents the exact amount of your claim on the overall gold stored.

        (2) Bailments and redemptions are only allowed in (1,000 grams) bars.

        (3) Account users are explicitly forbidden to use their accounts for any unlawful activity in their respective jurisdiction of residence


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