iGolder Transfer Fees
iGolder has a unique adaptive fee schedule. In a nutshell, we give
lower transfer fees to members representing a lower risk of
dispute or fraud.
Our anonymous members pay the highest transfer fees of 4%, and our verified
members pay fees varying from 0.1% to 1.0% according to their transaction reputation.
You reputation increases according to the number of transactions made, total
amount transacted and length of time as a member, and your reputation decreases
when receiving Demerit Points.
|Fee to receive gold payment
||1.0% down to 0.1% according to
transaction reputation *
|Fee to send gold payment
|Open account fee
||0.5 gr of gold
(learn how to upgrade)
|Delay to clear gold
when receiving payment
(24 to 72 hours for first transaction between two users)
when receiving gold
||Send maximum 100 gr per year
||Send maximum 100 gr per month
||No send transfer limit
open an account
- Phone number
- Upload scan of utility bill.
- Upload scan of passport
or driver license.
- Address is validated with
a letter by the mail.
- Phone number is optionally
validated with a phone call.
* The ratio of Demerit Points directly
increases the transfer fees, so it is possible for a verified member to pay fees
higher than 1.0%
Transaction Reputation Fee Schedule
Transaction reputation is enabled only for Verified Members.
The reputation of an anonymous individual is comparable as the paradox of asking
a masked man who he is. Until the member's identity has been
confirmed, his reputation remains private, hidden and
You can start accumulating transaction reputation and feedback from your
customers from your first transaction, however your achievements
will be dormant. The moment you become
verified, your transaction fees will be set set to 1.0%. For instance, if you become a
Verified Member after completing 10 transactions of 1 grams each, then your transfer fees will
The table below describes the transaction fee schedule according
to the number of transactions you made, the total amount
transacted and the length of time as a member. For instance,
after a six months, you are entitled to the low transfer fee of 0.5%,
assuming you made 300 transactions averaging one gram of gold
each. By the way, completing 300 transactions in six months is easy to
achieve; it represents less than two transactions per day.
|Total Number of Transactions
||Total Amount Transacted
||Length of Time as a Member
||0 grams of gold
|3 or more transactions
||3 or more grams
||3 or more days
|10 or more transactions
||10 or more grams
||10 or more days
|30 or more transactions
||30 or more grams
||30 or more days
|100 or more transactions
||100 or more grams
|300 or more transactions
||300 or more grams
|1,000 or more transactions
||1,000 or more grams
|3,000 or more transactions
||3,000 or more grams
|10,000 or more transactions
||10,000 or more grams
|15,000 or more transactions
||15,000 or more grams
||3 years and 6 months
|20,000 or more transactions
||Completed 10 (or more) transactions
larger than 1,000 grams
||0.1% with a maximum fee
of 1 gram per transaction *
* iGolder caps the fees to 1 gr
To qualify, you must have been a verified member for 4 years and have no Demerit Points
The fee is always rounded up to the nearest milligram of gold.
Therefore the minimum fee for any transaction is 0.001 gr of gold.
Dispute Reserve Bonus
iGolder lowers your transfer fees when you provide a
The Dispute Reserve is a sub-account containing an amount
of gold to secure the performance obligations of account owner. You
have the option to disclose the amount of your Dispute Reserve on your public profile,
thus increasing your trustworthiness in the
eyes of your customers. iGolder also rewards members
providing a dispute reserve by lowering their transfer fees.
Our rationale is people willing to pledge an amount of gold in
case of a dispute represent a lower risk of acting dishonestly
because they have something to lose in case of a
dispute. We aim in
rewarding good behavior, and this is our contribution.
||Transfer Fee Reduction Bonus
|Less than 3 grams of gold
|Between 3 grams and 10
grams of gold
|Between 10 grams and 100
grams of gold
|Between 100 grams and 1,000
grams of gold
|1,000 grams of gold or more
Please notice we cannot pay our members to transfer gold among
themselves, so the Dispute Reserve lowers your transfer fees until you reach
the lowest fee of 0.1%. When your account transfer fees reaches 0.1%, any
additional Dispute Reserve will no longer lower your transfer fees,
however will still provide goodwill towards your customers.
Until 2010, all storage fees have been waived. Instead, we have included our storage
fees with our transfer fees. This is somewhat similar as free parking at the
shopping mall, or free use of the restroom at the restaurant. We all
know there are costs involved for the maintenance a parking lot, or cleaning
a restroom, however
such expenses are implicitly paid by higher product prices. We do the same at iGolder; our transfer fees are
slightly higher to cover the cost of storing the gold in a secure vault as
well as paying for insurance.
Eventually iGolder will introduce storage fees for
safekeeping your gold. Rest assured, we plan to offer very competitive fees,
such as 0.24% per year. We will also give a 90-days notification to
all our members prior any change in our fee schedule. This way, our
members will have time to get their gold out of the iGolder network without
having to disburse any storage fees.
Our strategy towards the storage fees is likely to apply only
for idle gold. Active iGolder members won't have to pay
any storage fees because they are paying transfer fees.
On the other hand, an idle account not making any trades is a
burden on everyone else. We have no choice to collect
storage fees to offset the costs of storing and insuring the
gold in our vaults for those idle accounts.
Each demerit point increases your transfer fees according to your
Demerit Ratio. The Demerit Ratio is the percentage of demerit
points from the total number of transactions you
made during the past 6 months. For instance,
if you received 7 demerit points from a total of 500
transactions, then your demerit ratio is 7 / 500 =
1.4%. Assuming, if your base fee was 0.5%
Reputation Fee Schedule
above), then your effective transfer fee is now (0.5% + 1.4%) = 1.9%.
Our mission is building a network for win-win exchanges, aiming for the
highest satisfaction among our members. We don't want troublemakers. A
legitimate complaint represents a higher risk of dishonesty from the seller,
bringing a negative effect on the overall reputation of the iGolder network.
A member receives a demerit point
for being dishonest or having non-respect towards
another member. People may disagree, file a
complaint, initiate a dispute, however they must
express their concerns in a polite and respectful
manner. Business discord is part of life, however
non-respect towards another member is unacceptable.
Demerit points are allocated on a case-by-case
basis, typically for one of the following offense:
- Lying or being deceitful towards another
member. At iGolder, we do punish people
selling broken promises. Of course, all
our members are presumed innocent until proven
guilty, however if we have a proof of lying, we
will issue a demerit point.
- Repeatedly stopping a payment in
Safetransit™ for no valid
reason. Again, you have the right to stop any payment in
Safetransit, however if we receive massive complaints from many sellers,
we may issue a demerit point.
- Refusing to participate in a dispute.
If someone is willing to pledge 1 gram plus 10%
of the disputed amount towards its resolution,
then you have the decency to reply to the
complaint within 10 days, either by negotiating
Ignoring a dispute request will automatically
default towards the plaintiff and will result in a
demerit point to the defendant. The demerit
point may be waived if a good reason (such as a long trip or
hospital stay) prevented the seller from participating in the dispute, however
the full amount is nevertheless refunded to the buyer.
- Losing a dispute in a derogatory way.
The allocation of such demerit point is at the
discretion of the arbitrator. By the way,
both the plaintiff and defendant may receive a
demerit point if both were dishonest and/or acted
- Writing a vindictive negative feedback
comment. There are always ways to write
feedback comments in a professional manner.
If you received such comment, you are welcome to file a request for
comment removal. If the comment is
removed, then iGolder will dispense a demerit
point to the member who wrote the malicious
- Using Feedback
Extortion by threatening to
leave negative feedback unless the other party cuts a
better deal or reduces the shipping charge
after both parties agreed on the terms and
transaction amount. There is no feedback
extortion by asking the seller for a refund after
broken merchandise, nor for asking a partial
refund regarding a poor performance with respect to
the transaction agreement.
A partial demerit point may be
assigned ranging from 0.1 to a full point. For
example, a merchant may receive half (0.5) a demerit
point if the arbitrator determines he is guilty for the dispute, and the plaintiff is an innocent
victim. iGolder rewards good behavior by
offering very low fees and
making no effort resolving their disputes.
The issuer of any demerit point, either an arbitrator or
the iGolder staff, must justify the reason for issuing a
demerit point. A member cannot
receive a partial or a full demerit point without knowing why he
Demerit Points & Member Feedback Reputation
Demerit points also affect your
feedback reputation score. Each demerit
point removes from your reputation score the
equivalent of 100 positive feedbacks, and remains
visible in your
feedback reputation summary as a percentage of
Buyers should pay close attention to the number of demerit points
assigned to a seller. A high number of demerit points is an indication of a
high probability of dishonesty and/or risk of a dispute.
Member Feedback Reputation & Transfer Fees
Transfer fees are unaffected by positive feedback, neutral feedback or
negative feedback. Although member feedback
has no direct consequence on transfer fees, your
summary may attract or repel new customers, thus
having a direct impact on your sales, far greater
than any fee increase from any demerit point
received. There are many
benefits of maintaining a great reputation.