China\'s gold ATM melts jewellery and sends money in 30 minutes
China\'s gold ATM is grabbing attention not just in Shanghai, but around the world. This gold ATM, which is set up in Shanghai, melts gold, checks its purity and weight, and transfers the value to your bank account.
The ATM, run by China\'s Kinghood Group, accepts gold items weighing over three grams and with at least 50% purity. It melts the gold, checks its quality and weight, and then transfers the equivalent value straight to the seller\'s bank account within 30 minutes. No paperwork or ID is needed.