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. 

To register for a GoldNow account: 

  1. Download the GoldNow app. 
  2. Sign up using your mobile number and email address. 
  3. Complete the Know Your Customer (KYC) verification process to activate your account. 

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. 

To participate in the GoldNow referral campaign: 

  1. Use the referral code TSSB during registration. 
  2. Complete the required steps to enjoy the available referral rewards. 

The campaign is available for a limited time. Please check the latest updates and campaign details in the GoldNow app. 

If you forget your password, you can reset it by following these steps: 

  1. Tap “Forgot Password” on the login screen. 
  2. A password reset link will be sent to your registered email address. 
  3. Open the email and click the reset link. 
  4. Create a new password to regain access to your account. 

Please note that the reset link is only valid for a limited time. Complete the password reset process promptly after receiving the email. 

Yes, you may create more than one GoldNow account using the same IC or passport, as long as each account is registered with a different email address. 

For easier account management and a smoother experience, we recommend maintaining only one account. 

To update your personal information: 

  1. Tap your profile icon. 
  2. Select “View Profile”. 
  3. Update your details, such as your name, phone number, email address, or address. 

Make sure your information is accurate and up to date for a smooth account experience. 

The minimum purchase amount is 0.1 grams. 

The gold purchase price is determined based on the international spot gold price provided by Tomei’s supplier. This price is updated regularly to reflect current market conditions. A small spread (difference) is then applied to the spot price to arrive at the final gold purchase price. 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. During the trading hours displayed in the app, you can convert your gold balance into GoldNow Points. The points will be credited to your account and can be withdrawn to your personal bank account. Please note that a small spread (price difference) will be applied when converting your gold. 

Yes. Physical gold redemption is available in both West Malaysia and East Malaysia. After logging in, navigate to the “Redemption” section in the app to view the list of available branches where you can redeem and collect your physical gold. 

Delivery Location 

Duration 

 

West Malaysia(within Klang Valley) 

Up to 7 business days 

 

West Malaysia(Outside Klang Valley) 

 

Up to 14 business days 

 

East Malaysia (Exclude Bintulu & Miri) 

 

East Malaysia (Exclude Bintulu & Miri) 

 

East Malaysia (Bintulu & Miri) 

 

Up to 1 month 

 

 

Take note: Delivery timelines may vary subject to delivery circumstances. 

For your protection, GoldNow does not provide home delivery of gold.  All collections handled securely in person.  

No. For security reasons, only you can collect your redeemed gold, and you must present your identity card during collection” 

Your gold is stored free of charge in GoldNow’s default facility. For added security, you can choose a dedicated safe deposit box at RM500 per year, with a capacity of up to 5kg. 

1. Physical redemption of gold  

The 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. 

Yes. A 1% fee is applicable to each card payment made using a card. 

Your funds will be banked into an Islamic Bank Account maintained by MTrustee. MTrustee is a registered Trust Company under the Trust Companies Act of 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.

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. 

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. 

You can do these yourself in the app: 
 
Step1: Tap your little profile icon (top-left), click View Profile, and update the necessary information 
Step2: Click View Profile 
Step3: Edit whatever you need 

Available in West Malaysia (Langkawi not included). After logging in, check the “Redemption” section to see all available outlets.

Beneficiary Owner & Claims

How do I assign a Beneficiary Owner (BO)?

You can assign a Beneficiary Owner easily through the app: 

  1. Log in to the GoldNow mobile app  
  2. Go to Account  
  3. Select Beneficiary Owner and complete the registration  

Yes, you can update your Beneficiary Owner at any time. 

Simply go to the Account section in the app and make the necessary changes. 

In certain situations, your gold holdings may be managed by an authorised person in accordance with applicable laws: 

  • In the event of death: 
    The appointed executor or administrator will manage the estate of the deceased.  
  • In the case of mental incapacity: 
    A court-appointed committee or legal guardian will manage the customer’s affairs and estate.  

Claims may be made under the following circumstances: 

  • Death  
  • Permanent Disability  
  • Critical Illness  

You can initiate a claim by contacting us via email: 

customercare@goldnow.my 

Our customer care team will guide you through the process based on your specific situation.  

For Death Claims: 

  • Certified copy of Death Certificate  
  • Proof of relationship with the deceased  
  • NRIC copy of the Beneficiary Owner  
  • Bank statement or passbook of the Beneficiary Owner (for cashless settlement, if applicable)  

 

For Permanent Disability or Critical Illness Claims: 

  • Completed Claim Form ([insert hyperlink])  
  • Medical report or doctor’s certification  
  • Proof of relationship with the account holder  
  • NRIC copy of the Beneficiary Owner  
  • Bank statement or passbook of the Beneficiary Owner (for cashless settlement, if applicable) 

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.

Secret Link