Would You Buy Gram Gold from a Bank ATM?

Financial markets expert Islam Memis evaluated buying gram gold from bank ATMs. Memis examined the use of bank ATMs for physical gold purchases.

You can buy gram gold 24/7 through special modules integrated into selected pilot ATMs in major cities.

Unfortunately, the gold purchase application from ATMs, which was launched in previous years, ended with a fraud incident.

The costs applied when buying physical gram/gold quarter from ATMs or bank accounts, or withdrawing physical gold from the account, are divided into two main items: Spread (buy-sell price difference)

When withdrawing packaged, certified gram gold or jewelry from an ATM, banks charge an additional physical delivery/service fee (commission) for the process of converting paper (recorded) gold into physical form, packaging, logistics, and placing it in the ATM.

In light of these developments, the possibility of buying gram gold from ATMs and the costs associated with these transactions are being discussed