GoldMoney forges strategic partnership with Fidor Bank

GoldMoney forges strategic partnership with Fidor Bank

2 February 2011 – GoldMoney, one of the world’s largest providers of physical bullion for retail and institutional investors, has entered into its first strategic partnership with a financial institution.

The Munich-based Fidor Bank AG, which operates through the concept of a 'mobile banking community”, will use the GoldMoney platform to offer physical precious metals to its clients in Germany.

The partnership will enable Fidor’s customers to buy gold, silver, platinum and palladium without completing any GoldMoney application forms. Orders will be processed daily through the FidorPay Account at the Bank and then placed with GoldMoney through an ‘Omnibus-Holding’ in the name of Fidor. Furthermore, Fidor’s customers can now make precious metal transactions directly with each other by using Fidor’s FidorPay facilities.

Geoff Turk, CEO of GoldMoney, said: “We have recognised that many banking customers are currently demanding solutions enabling them to invest in precious metals.  This partnership is an excellent opportunity for GoldMoney to open itself up to new customers seeking to purchase precious metals. Fidor will utilise GoldMoney´s expertise to provide this service and we are therefore delighted that this strategic partnership has been forged.”

Matthias Kröner, Fidor Bank’s CEO, added: “We want to offer our customers facilities to buy physical precious metals very easily, fast and online. Also we want to enable our customers to buy precious metal with as little as 1 Euro. This will make precious metals accessible to a wide range of retail customers in Germany who previously have been prevented from buying precious metals due to high minimum-thresholds. We’re delighted to announce our new partnership with GoldMoney who will be able to help us achieve these objectives and we’re looking forward to a successful long-term relationship.”

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