Minted App Fees Explained: What You Pay and What You Don't
If you’re considering a physical gold investment, it helps to understand the costs before you buy. “Zero fees” can sound like there’s nothing to pay, but it doesn’t mean gold is bought and sold at the market price with no costs involved.
Here, we explain what Minted App’s zero platform and annual fees mean, what else can affect the price you pay or receive, and how to check the latest figures before placing an order.
The information below is about the Minted App’s physical gold service. It isn’t about Minted Pay or the separate business at minted.com.
The short answer
We charge no platform fee and no annual fee for using the Minted App. These are account-level fees: you won’t pay a separate subscription just to access the app or an annual charge for having an account.
Buying and selling physical gold can still involve other costs. These may include a premium over the gold market price and a difference between the price to buy and the price to sell. The exact figures can change, so check the Minted fees page and the price shown in the app before you confirm a transaction.
What does “zero platform fees” mean?
A platform fee is a charge for using a service or account. An annual fee is charged each year. Minted App doesn’t charge either of these.
That’s useful to know when you’re comparing ways to buy gold. But it only describes these two types of charges. It doesn’t mean every transaction is free, or that the price of gold in the app will match the reference market price.
When comparing any gold investment in the UK, look beyond account fees. Check the total buy price, the price you could receive if you sell, and any other charges that apply to your chosen product or transaction.
What is a premium?
The spot price is a reference price for gold on the market. The price you pay to buy physical gold can be higher. The difference is known as a premium.
A premium may reflect the costs involved in making, sourcing and selling physical metal. It forms part of the price of your purchase, rather than being an annual account charge. The premium can differ depending on the product and buying option, so don’t rely on an old example or a figure quoted elsewhere.
Before buying, check the live quote in the app. The fees page also shows the current pricing information for Minted App products. Treat the price displayed for your own order as the one to review before you confirm.
Why can the buy and sell prices differ?
The price at which you buy gold and the price at which you can sell it may not be the same. The difference between them is often called the spread.
This matters because you shouldn’t assume you can sell immediately for the same amount you paid, even if the market price hasn’t moved. Check the selling price available to you in the app as well as the buy price. If the app or fees page shows another charge for your transaction, include that in your calculation too.
How can costs affect your return?
Costs affect the amount you need to recover before a sale leaves you with more than you paid. If the gold price stays the same, a premium on purchase and a lower sell price could mean you receive less than your original purchase amount after selling.
If the gold price rises, buying and selling costs can still reduce your gain. If the price falls, those costs can add to your loss. Gold prices can move up or down, and no price movement or return is guaranteed.
A simple way to check the numbers before you act:
- Look at the total buy price in the app.
- Check the current sell price for the gold you’re considering.
- Review the fees page for any other costs that apply.
- Consider how a price fall, as well as a price rise, could affect you.
You don’t need to predict the market to compare costs. Just make sure you understand the amounts shown and can afford the risk before you proceed.
How does the fee model compare?
Providers can charge for different things. Some costs may appear as account or annual fees; others may be reflected in the buy price or charged when you sell. Depending on the service, there may also be other charges to check.
So, comparing only the headline fee can give you an incomplete picture. Compare the full costs for the same type of purchase, and check what you would pay to sell. We don’t make a claim here that one provider is always cheaper than another: the figures and services can differ, and you should check current information directly.
What about storage and delivery?
Minted App says customers own their gold, which is held in insured vaults. If you want to understand how ownership, storage and insurance work, visit our assurance page.
If you’re considering physical delivery, check the terms and any applicable delivery cost before requesting it. The cost and process may depend on the product and the arrangements available at the time. Don’t assume that a charge is included unless the current information says so.
What does FCA registration cover?
The Minted App Ltd is registered with the Financial Conduct Authority (FCA) under the Electronic Money Regulations 2011 for issuing electronic money. This registration relates to that e-money activity. It should not be taken as FCA approval of gold as an investment, a guarantee of its value, or protection against a fall in the gold price.
Check the current costs before you buy
Our platform and annual fees are zero, but other costs can still affect what you pay and what you receive when you sell. Premiums, buy and sell prices, and other applicable charges can change. Check the current Minted fees page and the quote in the app before confirming.
For more on the basics of buying physical gold, read our beginner’s guide to investing in gold. Gold can fall as well as rise in value, and this article isn’t personal financial advice. If you have a question about using Minted App, contact our team.
