Where'd my wire transfer go? Money debited from bank account, never posted to Goldmoney?

I initiated a wire transfer over a week ago which has never posted to Goldmoney account. As of this morning, the previously "pending" transaction is now completely missing from my transaction log. In the meantime, the money has been debited from my bank account and I have no idea where it is. Please advise. Tagging @Melanie since I've seen her resolve similar issues in the past.

Answers

  • EarthshipEnterpriseEarthshipEnterprise Posts: 8 Tin ✭
    Hi @ChineseBuffet, a wire was submitted by a family member to our business account on the 24th of February and I haven't heard from anyone at GoldMoney about this despite a number of emails sent to support. This is very distressing. Have you had any response from GoldMoney, or has the issue since resolved itself? My family member is having the wire traced on their side. Thanks!
  • MelanieMelanie Posts: 1,045 Gold ✭✭✭✭✭
    Hi there - it looks like @ChineseBuffet was taken care of last week, and @EarthshipEnterprise our team reached out earlier today as this transfer is a third party deposit (which is also why there was a delay). Please follow the instructions in the email for resolution, thank you!
  • PelagusPelagus Posts: 3 Tin ✭
    edited March 24
    Dear @Melanie, I appear to have a similar issue. Made a substantial deposit on March 15th, but this has not arrived yet. Send a message to support about two days ago, but no response yet. One thing I noticed that the wire instructions for Canada are different and more complicated than the standard instruction in Europe. It looks like Goldmoney is assuming that we will "take these instructions to our bank" and the bank will know what to do. However, I use internet banking and have to compose (some of) the instruction myself. Yet, the rather detailed instruction provided by my bank was not the same as the more summary instruction from Goldmoney. So I made some assumptions and perhaps, the wrong ones. Could you please do the following:

    1. Trace my deposit if possible, and if not (as it may not have reached Goldmoney after all) help me trace it, possibly within Canada.
    2. Clarify in _detail_ how to compose the wire instruction for Canadian bank accounts (and work with me to resolve the differences between GM's and my bank's instructions)
    3. Update your website with the information from #2.

    Many thanks in advance!

    Johan.
  • MelanieMelanie Posts: 1,045 Gold ✭✭✭✭✭
    @Pelagus Yes, I will have our operations team do what they can from our end! The instructions are provided in the necessary form for a deposit to reach us, that is the bank's format. More regional deposit options are in the works!
  • PelagusPelagus Posts: 3 Tin ✭
    edited March 30
    Thank you @Melanie for taking action. The temporary transaction that was created for this has now disappeared from the list. No funds in sight yet, but I am in communication with the support team by email.

    It will be good to have more "regional deposit options", as you say. In Europe there is the IBAN account number and Swift, which is about all that you need. Goldmoney's instructions list in addition to the account number, an "Institution number" (3 digits), a "transit number" (5 digits), and with (the usual) Swift number, also a "UID" of 7 digits. There is no way of knowing what to do with these numbers in the transfer instruction. My bank however, provides an instruction for transfering money to Canada, stating the account number should be immediately preceded by a 9-digid "institution code", consisting of a 4-digit and a 5-digit part. These two instructions simply do not match, so it leaves us guessing what to do exactly. I blame myself for making assumption and expecting it was going to be alright, but I do urge you to provedie more exact and detailed instructions to your customers. Please be so kind to take this suggestion to the appropriate teams within the Goldmoney organization.
  • EarthshipEnterpriseEarthshipEnterprise Posts: 8 Tin ✭
    @Melanie and @Chris. My funds are still missing after 41 days! I need this resolved ASAP. Where is your compliance team at with regards to this mess up? Thank you.
  • ChrisChris Posts: 53 Bronze ✭✭✭
    @EarthshipEnterprise

    I have sent you an email in regards to your specific case with full details.
  • ethosmediaethosmedia Posts: 6 Tin ✭
    edited April 10
    Is it possible some BitGold clients are being 'targeted' perhaps due to their politics beliefs of online activities? Money going missing all over the show. We have been waiting 3 days for a prepaid card topup to appear, out of our own account! Should be instantaneous as nothing to verify, it is our money, already in the account. Is it possible Bitgold are 'targeting ' certain clients? @Melanie
  • ethosmediaethosmedia Posts: 6 Tin ✭
    Is George Soros targeting certain 'groups' with Gold Money accounts? Seems a lot of people have money missing or delayed. We have been waiting 3 days so far for our own money to transfer to a prepaid card- should be instant. Soros has a history of targeting certain groups doesn't he? Do you guys have a hit list on your customers based on their online posts and politics, based on private data being shared among 'foreign owned' It companies? Sounds far fetched? Perhaps this is the new online banking reality?
  • MelanieMelanie Posts: 1,045 Gold ✭✭✭✭✭
    @ethosmedia No, you are not being "targeted," nor do any of our investors have any operational involvement with the platform or ill intent towards our users. Your prepaid card issue is presently being addressed, as noted in another thread.
  • GoldmattersGoldmatters Posts: 3,470 Admin
    edited April 10
    Nor is the Company's name Gold Money or Bitgold

    (Its Goldmoney)
  • MelanieMelanie Posts: 1,045 Gold ✭✭✭✭✭
    @ethosmedia You were politely told twice by admins that your "theories" were unfounded, and I have little patience for trolls. Your support case will be handled via email but due to further spamming, you have lost Community privilege.
  • GoldmattersGoldmatters Posts: 3,470 Admin
    When did Goldmoney become "The Man?" Lol

    Im fairly certain that Goldmoney employees like @Melanie don't have time to be investigating 1.4 million customers social media accounts searching for customers to single out.

    I hear they are a fairly busy bunch!
  • EarthshipEnterpriseEarthshipEnterprise Posts: 8 Tin ✭
    Chris said:

    @EarthshipEnterprise

    I have sent you an email in regards to your specific case with full details.

    Hi @Chris, when will this issue be resolved? I haven't seen another update to email since the 4th of April and the funds are still missing. :(
    Thanks.
  • NaseghNasegh Posts: 4 Tin ✭
    Please tell how can I send funds directly from my bank account to gold money,
    My bank requires full bank address, IBN, swift number.
    Please note: my bank in Kuwait.

    Many thanks. :*
  • NaseghNasegh Posts: 4 Tin ✭
    To my account in goldmoney off course.

    Thanks.
  • soeborgsoeborg Posts: 27 Tin ✭
    edited April 15
    @Nasegh Go onto goldmoney.com, log in, go to deposit, choose your preferred way to buy your gold (commonly used Bank Wire or Credit Card) You can find IBN, swift number on your banks website and log in there I would imagine, other then that ask google.
  • LV_JohnLV_John Posts: 1 Tin ✭
    First of all, I made the mistake of letting a vendor talk me into using this place (GM) to pay for a small service he was going to perform. I made a transfer/deposit from my bank Debit card and like another gentleman above, a debit showed up and only four days later did the credit appear. I have changed my mind and want my money back into my bank account. I have determined that the vendor is a flake and I'm very uncomfortable with this whole thing. There is NO telephone number here - it is very anonymous and the administration very secretive. I have sent two email requests with documentation asking for refund/cancellation of my account and had NO RESPONSE. Now I am trying to Redeem and get my $150 back and guess what. GM wants a scan of my official ID in order to do that!?!?! So let's see. No phone number. No response. No accountability...BUT you have my debit card number, my bank account and now you want a scan of my personal ID! Sure. Right. No way.

    WHO THE HECK ARE YOU??? SEND MY MONEY BACK OR TELL ME HOW I CAN GET THE TRANSACTION REVERSED WITHOUT GIVING YOU A SCAN OF MY ID.

    About to take some action here.

  • MelanieMelanie Posts: 1,045 Gold ✭✭✭✭✭
    Hello @LV_John - you were asked to submit ID to the platform as per the requirements of sending gold transfers in the US (outlined here). We received your support ticket and your case was addressed yesterday.
  • EarthshipEnterpriseEarthshipEnterprise Posts: 8 Tin ✭
    @Melanie @Chris,
    Does anyone at GoldMoney care that a wire transfer that was confirmed to be received by GoldMoney and converted in error to USD has still not been returned despite a recall by Euro Pacific Bank over 2 weeks ago? This issue of missing money has been going on since the 23rd of February with no resolution in sight. Euro Pacific Bank has said GoldMoney is holding the process up, but GoldMoney denies this. Calling JP Morgan Chase and Royal Bank of Canada (the intermediary banks) claim not to even have a record now despite having a SWIFT reference code. I know for a fact the money was seen by @Chris at GoldMoney since he confirmed the reason for the rejection was someone (no one yet to claim responsibility) converted the funds to USD. Who has the money because it's certainly not me! At least JP Morgan Chase has started a investigation and given me a case number. Fraud is definitely at play here. I have all the documentation, between all parties. I don't buy that this is all everyone else's fault and not GoldMoney's. I see too many recent posts on here with people having the same issue. The fact you can only work via email or this forum to get this issues resolved is disgraceful. Not to mention that emails take many days to get a response from, if at all.
    @LV_John
  • MelanieMelanie Posts: 1,045 Gold ✭✭✭✭✭
    @EarthshipEnterprise We understand this has been a frustrating time and are actively working on your case for you. Your wire transfers were rejected on March 2nd due to the fact that they were converted to another currency by an intermediary bank - when a wire is rejected, funds are redirected back to the sender by the bank. It seems there has been a delay with this, and our operations team is following up on your case with the bank to resolve this as soon as possible for you.
  • EarthshipEnterpriseEarthshipEnterprise Posts: 8 Tin ✭
    Thank you @melanie. Frustrating is one word. I can think of others as well. Would you please provide me with a case number and an ETA on resolution?
  • EarthshipEnterpriseEarthshipEnterprise Posts: 8 Tin ✭
    @Melanie @Chris
    Melanie and Chris. I have not received a private email from GoldMoney about this nor any response to my post here for an ETA of the return of funds. I have just emailed a reply to Chris again with the JP Morgan investigation case number and telephone number. Please contact them ASAP to resolve this and return the funds once and for all to Euro Pacific Bank.
  • waywardcheese82waywardcheese82 Posts: 1 Tin ✭
    Hello, I made a deposit using ACH over a week ago. The funds have been withdrawn from my account but the GoldMoney transaction is still in pending status. I emailed support 3-4 days ago and never heard back. Please help
  • PinkdogPinkdog Posts: 504 Silver ✭✭✭✭
    I made 3 deposits to my Goldmoney account this month and everything worked perfectly. I have completed hundreds of transaction since I became a Goldmoney member, never a single problem. Is it the platform or your error? I already know the answer. Just saying.
  • TauntFourstarTauntFourstar Posts: 203 Bronze ✭✭✭
    weekends tend to see longer pending times. In my observation and for somewhat obvious reasons. Also no issues depositing or redeeming to ACH or pre-paid card... ever. hope you can find help and answer to your issue!
  • mr1mr1 Posts: 289 Bronze ✭✭✭
    Pinkdog said:

    I made 3 deposits to my Goldmoney account this month and everything worked perfectly. I have completed hundreds of transaction since I became a Goldmoney member, never a single problem. Is it the platform or your error? I already know the answer. Just saying.

    @Pinkdog
    I think it is a little presumptuous to start blaming other users just because they've had a different experience than you. One person having hundreds of successful transactions doesn't mean everyone else, using different payment methods, with different banks, in different locations, should also experience no issues. Just think, a 99.9% success rate would still mean that 1 in every thousand transactions fails. I haven't had any issues with any Goldmoney transactions yet myself, but I am very concerned about all of the transaction problems we see people posting about here on the forums. Sure, maybe the vast majority of transactions do go through perfectly, but that doesn't mean that Goldmoney doesn't need to step up its game to try to have even fewer transaction problems, and provide better and faster service when there are problems. Even if a failed transaction ends up being from user error, it doesn't help Goldmoney for staff or community users blame the user. That just drives customers away.
  • TauntFourstarTauntFourstar Posts: 203 Bronze ✭✭✭
    @mr1 I would tend to agree. The community is a great place for people to come to share ideas, comments, and thoughts about the company and well, why we are all here (GM) in todays world. While @Pinkdog is just pointing out what many of us have observed on the forum lately of user error or "non goldmoney root cause" being blamed on GM, I also would say not to jump to conclusions.. any one of the issues that spring up from ANY user, could actually help GM resolve some issues that are not yet known. So even if it is user error, there is definitely some trends that can be found to resolve what is causing the other users to run into issues. If so, then that would be a GM customer experience issue and would need to be addressed ASAP. I have already emailed into support about many things that could be improved upon including the onboarding process that could potentially lock a user out of their account after depositing any amount of gold... that is scary. While the flaw was a user error, the process put together is a GM issue. We all just have to be patient with these threads, the outcomes, and how GM addresses them.
    got nothing else to say except we are the community, and we should play nice :), no need to flame the emotional fires that are seen here in many of the "issues" threads because it may send people away and we certainly don't want that.
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