When Sanctions Hit Hard: My 'Golden Crown' Experience
add_circle Pros
- Money arrives quickly, which is a huge relief when you're dealing with time-sensitive transactions.
- The app is user-friendly, even for someone like me who's not tech-savvy.
- The exchange rates are competitive, which means I get more bang for my buck.
- The customer support team is responsive and helpful, which is a big plus in my book.
- I can use the service from anywhere, as long as I have an internet connection.
remove_circle Cons
- The double commission fee can add up quickly, especially if you're making frequent transactions.
- Not all locations support the service, which can be a problem if you're traveling or living abroad.
- The interest rates on deposits can be a bit of a trap, especially if you're not careful.
- The app can be a bit glitchy at times, which can be frustrating.
- The fees for certain services, like wire transfers, can be steep.
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Editor's Summary
As a Kazakh citizen with a Russian daughter, I've faced my fair share of financial headaches since the sanctions started. But then I discovered the 'Golden Crown' service, which helped me navigate the challenges of sending money to loved ones in Russia. In this review, I'll share my honest thoughts on this service, from its pros to its cons.
Specifications
Hello everyone!
I'm a Kazakh citizen, and my daughter has had Russian citizenship for a few years now.
With the start of sanctions, our lives got a lot harder due to the impossibility of financial communication.
Even small gifts we exchanged for holidays and birthdays turned into a quest and a puzzle. I even got Russian bank cards!
I got them just so I could send money to my loved ones in Russia.
But then the Russian banks started offering high interest rates on deposits, and I got tempted by those offers. And, of course, my ability to use the money for six months got significantly reduced.
And my grandson's birthday is coming up!
So, how am I supposed to get out of this one? And not lose the interest on my deposit, and send the kid some cash?
The first thing that came to mind was the 'Golden Crown' service.
I'd heard of it before, but never actually used it.
So, that's how we met, as they say!
The first funny thing that happened was after I installed the app.
It turned out that you can send money from Russia to Kazakhstan, but not the other way around.
Oh well, we're not easily scared off by that kind of nonsense.
I buy rubles at an exchange office and go to the nearest bank that works with 'Golden Crown.'
After that, everything's standard - I provide the recipient's details, pay a 1% commission, and I'm good to go.
The message to my daughter about the money transfer comes in right away.
But, of course, you can only withdraw the money to three specific bank cards - Renessance, Ozone, and Yandex Money.
Oh, great...
And with Yandex Money, you can only spend it on purchases in the Yandex Market!
I had to order a physical card for my daughter from Ozone.
Okay, whatever...
I went on the internet to read some user reviews of the service.
Big mistake...
I'm already prone to worrying and freaking out over anything, and then I read all these horror stories...
Most people were saying that they simply lost their money, that the support is dead, and the program for transferring money is also a mess!
My friends who've used the service before and transferred money to their kids in Russia calmed me down.
I nervously waited for a day for the Ozone bank card to arrive (one of the three banks that work with Golden Crown, by the way), and then my daughter instantly received my transfer.
Okay, so I'm still trying to wrap my head around the 1% commission they took from my withdrawal.
Overall, I'm giving this system a solid 2 out of 5 stars.
The double commission and the super limited list of cards I can use to withdraw my money are major turn-offs.
Still, I think cash or a Russian bank card with a decent limit for gifts and transfers is the way to go.
Will I use this system again? I'm not sure...
But when those sanctions are lifted, I'm sure this problem will magically disappear!
Wishing you all warmth, kindness, good health...
...and a lot more cash!))