Terms & Conditions
Last updated: July 2026. These terms govern your use of goldbank.app, goldbankapp.com and the GoldBank mobile applications, operated by Gold Bank Company for sale of gold, diamond and jewellery, State of Kuwait. By creating an account or placing an order you accept these terms.
1. The service
GoldBank is a savings and retail platform for real, allocated, deliverable physical gold and related goods (jewellery, diamonds, watches). It is not a trading, brokerage or investment-advisory service, and nothing on the Platform is investment advice. Gold prices can go down as well as up.
2. Eligibility & KYC
You must be 18 or older and complete identity verification (including Civil ID and, in Kuwait, Kuwait Mobile ID) before purchasing. We may decline, limit or reverse transactions to comply with anti-money-laundering and sanctions obligations.
3. Pricing
- Live-priced goods (gold bars, gold content of jewellery): prices are linked to international market rates and refresh continuously. The binding price is the rate confirmed at the moment your payment is authorised.
- Fixed-price goods (watches, diamonds): the listed price at checkout is binding.
- Obvious pricing errors (including feed malfunctions) may be corrected and affected orders cancelled with a full refund.
4. Payment
Payments are accepted via KNET, Visa/Mastercard, Apple Pay/Google Pay, bank transfer, cheque or Western Union, processed by licensed payment providers. Bank-transfer orders are reserved for a limited window and confirmed only upon cleared receipt of funds.
5. Vaulting & ownership
Gold you purchase is allocated to you and held on your behalf with our secure vaulting partner in Kuwait, insured and physically audited. Storage is currently free. You hold full title to your allocated gold; it is not on our balance sheet and not lent, pledged or rehypothecated.
6. Redemption & delivery
Physical redemption is available within 24 hours of request, in sealed assay packaging as standard (traditional forms available for an additional making charge). Collection requires your QR redemption code and Civil ID. Courier delivery within Kuwait is insured until signed receipt. Risk passes to you upon handover.
7. Buyback
We buy back gold purchased from GoldBank at the live sell rate displayed on the Platform. Physical items returned for buyback must be in intact, sealed assay packaging or will be assayed before settlement.
8. Cancellations
Because live-priced gold is a market-linked commodity, confirmed gold orders cannot be cancelled or "cooled off"; you may instead sell back at the live rate at any time. Fixed-price goods are covered by the Refund & Delivery Policy.
9. Acceptable use
You agree not to use the Platform for unlawful purposes, to provide false identity information, to interfere with the Platform's security, or to use automated systems to scrape or manipulate prices.
10. Liability
To the maximum extent permitted by Kuwaiti law, GoldBank's liability for any claim is limited to the value of the transaction giving rise to it. We are not liable for market movements, for delays caused by force majeure, or for indirect or consequential losses.
11. Intellectual property
GoldBank®, the GB monogram and all Platform content are protected marks and works (National Library of Kuwait Registration 2662-2022 and internationally). You may not reproduce them without written permission.
12. Governing law
These terms are governed by the laws of the State of Kuwait, and disputes are subject to the exclusive jurisdiction of the courts of Kuwait, without prejudice to mandatory consumer protections in your country of residence.
13. Contact
info@goldbankapp.com · +965 22204916 · GoldBank House, Al Raya Gold Complex, Store 26/27, Mubarakiya, Kuwait City.