Frequently asked questions

What is Flamingo Money?

Flamingo Money is a simple and safe platform that helps you save and invest in 24K 999 pure digital gold through fun and habit-forming features like daily savings, round-up on spends, couple vaults, gold FDs, and streak challenges.

What is Digital Gold?

Digital gold is pure 24K 999 hallmarked gold that you buy and own digitally. It is securely stored in insured vaults by our partner Augmont, India’s most trusted gold provider. You can buy gold starting from just ₹10.

Why should I invest in gold?

Gold is one of the most stable and low-risk investment options. It helps diversify your portfolio and has delivered strong long-term returns (over 80% growth in the last 5 years). With Flamingo, investing in gold becomes easy, fun, and rewarding.

What is Daily Savings?

Daily Savings lets you automatically invest a fixed or custom amount of money into digital gold every day. It helps you build wealth consistently without effort.

What is “Save on Every Spend”?

Whenever you make an online transaction, Flamingo rounds it up to the nearest ₹10/20/50/100 and invests the spare change into digital gold.
Example: If you spend ₹45, we round it to ₹50 and invest ₹5 into your vault. You can also apply multipliers (2x, 5x, 10x) to save more.

Can I make a one-time or lump sum investment?

Yes, you can instantly invest any amount (minimum ₹10) in digital gold. Just go to your vault, tap Add More, enter the amount, and pay with UPI.

What is Couple Sharing Vault?

Couple Vault allows you and your partner to save and invest together for a common goal. Both can contribute flexibly and track progress transparently in a shared vault.

What is Gold FD?

Gold FD works like a fixed deposit but in gold. You can lock in a minimum of ₹500 worth of gold for 3, 6, or 12 months and earn up to 2% extra reward in gold at maturity.

What are Streak Challenges?

Streak Challenges are fun saving journeys (like 7-day, 21-day, or 99-day streaks). Completing them unlocks extra rewards like silver bonuses, badges, and Flamingo Coins.

Can I create multiple goals?

Yes, you can create multiple goals and track each one separately.

Is Flamingo Money safe?

Yes, 100%.

• Gold is provided by Augmont, accredited by BIS and NABL.

• Stored in Sequel Vaults with SEBI-monitored IDBI Trusteeship.

• 100% insured against theft and disasters.

• Payments via UPI Autopay by NPCI, regulated by RBI.

Is the gold pure?

Yes. All gold purchased via Flamingo is 24K 999 hallmarked pure gold, certified by government-approved agencies.

Where is my gold stored?

Your gold is stored in SEBI-monitored Sequel Vaults, insured and overseen by IDBI Trusteeship.

Is my data safe?

Yes. Flamingo encrypts and secures all data. We follow strict compliance and use secured UPI payment gateways.

Can I withdraw my money anytime?

Yes, you can sell your gold instantly and get the money credited to your UPI account. No KYC is required up to 30 grams.

Why is the buy price different from the sell price of gold?

Gold has a small buy-sell spread (3–5%) due to market volatility and processing costs. This spread is much lower than jewelry, which also includes making charges.

Can I get physical gold delivery?

Yes, Flamingo allows you to request physical delivery of your gold. It will be shipped securely, and the gold in transit is also insured.

Is the gold insured?

Yes. Gold stored in vaults and in transit for delivery is fully insured against theft, natural disasters, and accidents.

What is Autopay?

Autopay is a convenient feature where you set up a UPI mandate once, and Flamingo automatically saves for you daily, weekly, or monthly.

Is Autopay safe?

Yes, Autopay is powered by NPCI’s UPI Autopay, regulated by RBI. You always receive SMS alerts before money is debited, and you can pause or cancel anytime.

Can I change or pause Autopay?

Yes, you can pause savings for a specific duration, change the amount, or cancel Autopay anytime from the app or your UPI app.

Which UPI apps are supported?

Flamingo supports PhonePe, Paytm, BHIM, and most UPI-enabled apps. Google Pay supports one-time payments and will soon support Autopay.

What rewards can I earn on Flamingo?

• Gold FD rewards – up to 2% extra gold at maturity.

• Streak bonuses – silver/gold rewards for saving challenges.

• Flamingo Coins – unlocked through streaks, redeemable later.

• Referral rewards – invite friends and earn gold when they set up Autopay.

What is the power of compounding?

Small, regular savings grow big over time. Example: Saving just ₹50 a day for 40 years can create over ₹1 crore, thanks to compounding.

Can I save with family or friends?

Yes. Apart from Couple Vault, Flamingo will also launch Fan Vaults for group saving with friends or family.

Do I need KYC to invest?

No KYC is required unless your gold holdings exceed 30 grams, as per government rules.

Are there any charges to use the app?

No, Flamingo does not charge you for using the app.

Can I change my bank account or mobile number?

• Bank account: Yes, you can edit and re-approve the UPI mandate.

• Mobile number: Not changeable; you’ll need a new account.

Where can I see my transactions?

All your transactions are available in the Transactions section of the app.

How do I contact Flamingo support?

You can email us at support@flamingo.money. Our team will respond within 24–36 hours.