How to Fund an Egold Account with Bank Wire

E-gold is an electronic type of currency that is backed by gold. It is measure by the weight of the metal, not by the currency amount. The gold is used for e-commerce transactions, point of service, bill payments, donations to charities, payroll and business-to-business payments. There are no requirements to keep a minimum balance. There are several ways to fund the account, such as with bank wires, checks, money orders and credit cards. Accounts are free to open, and there are no credit checks. All accounts are allows to receive and spend e-gold payments.

Difficulty: Moderately Easy

Instructions

Things You'll Need:

• Bank account
• E-gold account

1. Create and open an account at the E-gold website (see Resources below).

2. Check your email to see if you have received an email confirmation of the new account.

3. Add funds to your e-gold account. You will need to choose from the independent e-gold retailers that allow for purchasing and selling e-gold.

4. Obtain the ABA (American Banking Association) routing number of the recipient's bank. Also obtain the address and phone number of the recipient’s bank, as you will need to provide this information to your bank in order to complete the wire transfer.

5. Contact your bank or financial institution to start the bank wire transfer process. Some banks allow completing the wire transfer via Internet, phone or fax.

6. Check with your bank to ensure that the transaction has been completed. Request a copy of the transfer if your bank does not already provide that service. You can also confirm with the receiving bank to ensure that the funds have transferred.

Tips & Warnings

• Keep in mind that banks may charge a fee for the transaction, so consult with the sending and receiving banks for fee information.

Resources

• E-gold