Frequently Asked Questions

What is GoldNow by TOMEI GROUP?

GoldNow by TOMEI GROUP is a Shariah-compliant gold product that allows you to conveniently buy gold with 999.9 purity in your desired quantity, without worrying about its security. You will enjoy the following benefits through GoldNow by TOMEI GROUP:  

  1. Start your gold holding journey easily via an easy-to-use mobile app platform. 
  2. Option to buy gold from as low as 0.1 gram, according to your affordability. 
  3. Access real-time market prices to buy and convert gold into GoldNow Points or redeem it for physical gold. 
  4. Have the option to redeem your available gold balance for physical gold coins/bars, in selected denominations from 1 gram to 1,000 grams, via self-collection at selected Tomei branches. 
  5. Conveniently open and close your holding account, buy, convert, or redeem gold online via the mobile app platform. 

You start your purchase journey by transferring money from your bank account, which will be converted to GoldNow Points at an equivalent value (1 GoldNow Point = 1 Ringgit Malaysia). When you purchase digital gold, you are buying real physical gold that is securely stored in our vault. Your gold balance is shown in grams, and you can choose to: 

  1. Buy more gold 
  2. Convert your gold back to GoldNow Points 
  3. Redeem your gold in physical form 

Yes, GoldNow by TOMEI GROUP complies with Shariah principles, including: 

  1. Bai’ al-Sarf: Refers to a sale contract for the exchange of money for gold, whereby payment and transfer of ownership of the gold must take place immediately between Tomei and you. This contract will be used for: 
    • the purchase of gold in consideration for the equivalent GoldNow Points, where you will purchase the gold from Tomei, and the gold amount will subsequently be credited into your account; and 
    • the conversion of gold into GoldNow Points, where Tomei will purchase the gold from you and subsequently credit the GoldNow Points into your account.
  2. Wakalah: Refers to a contract where a party, as principal (muwakkil) authorises another party as his agent (wakil) to perform a particular task in matters that may be delegated.

    Under this product, Tomei will be your agent (wakil) to; 

      • Facilitate gold safekeeping which includes identifying, arranging, and paying security vault service provider (third party) to safekeep your gold. 
      • Digitally assign and re-assign the Physical Gold serial number for your benefits. 
      • Assign the selected Tomei’s branch to facilitate the redemption of physical gold made by you.  
  3. Ujrah: Pursuant to Wakalah bil ujrah arrangement, a fee will be imposed by Tomei in consideration for the service(s) listed above. 

You can: 

  1. Log in to your account in GoldNow mobile app; 
  2. Transfer in funds via FPX; 
  3. Select “Buy Gold” 
  4. Enter the amount you wish to buy (in grams or GoldNow points) 
  5. Based on the live feed purchase price, confirm your purchases. 

The minimum purchase amount is 0.1 grams. 

Gold purchase prices are linked to the gold spot price by Tomei’s gold supplier and are updated regularly with a spread imposed by Tomei. 

Yes. You may sell your gold by converting your gold balance into GoldNow Points at any time during trading hours shown in the app. Your GoldNow Points will be credited to you, and they can be withdrawn to your bank account. Please note that we impose a small spread on the gold conversion price. 

You can find out from your GoldNow mobile app which specific Tomei outlets allow you to collect your redeemed physical gold. For security reasons, we do not arrange for delivery at this time. 

We want to ensure that your gold is securely collected by you. Therefore, collection on their behalf is not allowed. You will also need to present your identity card for verification when collecting your redeemed gold. 

Your gold is stored in a secure vault managed by our appointed vaulting partner. Rest assured, our vault is equipped with the necessary security measures to ensure the safety of your gold holdings. 

Yes. All gold stored in the vault is fully insured against: 

  • Fire
  • Flood 
  • Theft 
  • Burglary 

Insurance coverage is provided by a reputable third-party insurer. 

1. Physical redemption of gold  Redemption fee is based on gold grammage. The applicable fee will be displayed on the Mobile App prior to the submission of any redemption request
2. Physical storage of gold, after redemption     RM500 per annum, up to storage capacity of 5kg of gold.

There are no storage fees for the gold you purchase as long as you keep it in our default allocated storage facility. 

If you prefer to redeem your gold into physical form and require your own dedicated safe deposit box, we offer an optional secure storage service through our reputable third-party provider. This service is available at RM500 per year, and each dedicated box can store up to 5kg of gold. 

Your funds will be banked into an Islamic Bank Account maintained by MTrustee. MTrustee is a registered Trust Company under the Trust Companies Act 1949, established in 1989. So rest assured your monies are being well safeguarded.  

Please also note that there is no interest or profit generated from your deposited amount.  

Simply download our mobile app, sign up using your mobile number and email address, and complete the KYC (Know Your Customer) verification process to activate your account. 

Unfortunately, no. Each user can only have one registered account tied to their IC/passport. 

If you’ve forgotten your username or password, simply tap “Forgot Password” on the login screen. A secure reset link will be sent to your registered email address. 

Click the link to log in and create a new password. For security reasons, the link will expire after a short period, so please complete the process promptly. 

If you experience difficulties or wish to make a complaint, you can visit us or email us at: 

Customer Management Team 

18, Jalan 2/131A,  
Project Jaya Industrial Estate, 
Batu 6,  Jalan Klang Lama, 
58200 Kuala Lumpur 
Email: customercare@goldnow.my 

Most queries are responded to within 5 business days. 

Start Your Gold Journey Today

At GoldNow by TOMEI GROUP, we aim to make gold ownership accessible and hassle-free, with a focus on trust, security, and ease of use.

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