Home >Money >Personal Finance >Exchange your gold for direct bank transfer with MMTC-PAMP's buyback plan
For a nominal transaction fee, sellers can receive the maximum value of gold as a direct bank transfer or in the form of a gold bar . Photo: Pradeep Gaur/Mint
For a nominal transaction fee, sellers can receive the maximum value of gold as a direct bank transfer or in the form of a gold bar . Photo: Pradeep Gaur/Mint

Exchange your gold for direct bank transfer with MMTC-PAMP's buyback plan

  • MMTC-PAMP launches buy-back, exchange offers for gold
  • Starting with its Lajpat Nagar centre in Delhi, this facility will be rolled out soon across the country

To offer some respite to those hit by the pandemic Covid19, bullion refiner MMTC-PAMP launched a buy-back and exchange offer for gold in the national capital on Saturday. The MMTC PAMP gold buyback plan allows sellers to receive the maximum value of gold as a direct bank transfer or in the form of a pure gold bar. "These are indeed challenging times worldwide, and the significant uptick in jewelers and consumers selling gold assets to offset hardships is expected to continue for some time. For a nominal transaction fee, sellers can receive the maximum value of gold as a direct bank transfer or in the form of a gold bar with 9999, 999 and 995 purity," says Vikas Singh, MMTC-PAMP Chief Executive Officer Managing Director.

Sellers may reach out to the Lajpat Nagar branch in Delhi to avail the god buyback offer. The bullion refiner said, it will roll out the servcices across country soon.

According to MMTTC, it uses industry-best technology to ensure transparent, verifiable, and globally trusted verification processes that a seller can monitor via LIVE CCTV footage to determine the exact value of the gold jewelery, bars, or coins. The bullion refiner ensures that the seller will walk away with nothing less than the maximum worth for his or her gold via direct bank transfer, or a pure gold ingot. ​ ​ ​

During the process of gold verification and determination of its true price, the gold is weighed before and after melting, cast, cooled, cleaned by pickling and then rinsed in de-ionized water. The XRF report then verifies the proportions of other metals present in the ingot, and the final reading displays the true gold value.​

The company will test a minimum of 10 grams of gold. A fee of 1,000 will be charged if the exchange process is not completed for the service of evaluation of gold.

At present, the bank transfer is available only at Delhi for which it is mandatory to provide details of Pan card, Aadhaar card and cancelled cheque.

The procedure will take place within 60 minutes.

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