Pending forever

Made a deposit via PayPal on last Thursday (05/11). The charge has been posted to my card. But the deposit is still pending as of today (05/16). It was a deposit of only ~16g gold. Seriously? Such long pending time?
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Answers

  • SUPERFLY9898SUPERFLY9898 Posts: 38 Copper ✭✭
    Imagine you deposited $500 on Thursday. Goldmoney like to say you can use your gold to buy even a cup of coffee etc using your prepaid card. In your case it is 5 days later and your deposit isstill not even cleared. Good luck on buying coffee. Goldmoney is turning from a Facebook into a Myspace.
  • TexTex Posts: 197 Bronze ✭✭✭
    It seems that demand for physical gold is high. I have several deposits pending. It's pending because the gold must physically be there. Once it is confirmed that your gold is in the vault under your name the transaction goes confirmed. Since we are dealing with physical gold it does take time but once you have gold in the network its easier to spend so plan accordingly.
  • uxineveruxinever Posts: 2 Tin ✭
    Mine has been pending since May 4....when business starts growing, operations become the bottle neck. I wish my gold arrives before the price plummets.
  • jonnybitcoinjonnybitcoin Posts: 23 Tin ✭
    I have been waiting 12 days now! when the pending notice says "can take between 1-2 days"
  • Nc1Nc1 Posts: 10 Tin ✭
    mine is pending since de 16/05
  • lz80521lz80521 Posts: 8 Tin ✭
    Still pending since 05/11. I will file dispute with my bank if it is not confirmed this week.
  • mr1mr1 Posts: 344 Bronze ✭✭✭
    @Melanie Can you shed any light on why there are such long pending times when the notice still claims it should take 1-2 days? We know that the transactions stay pending until the vault custodian confirms that gold has been placed in the Goldmoney cage in the vault, but why is that taking so long? These wait times seem unacceptable to many users. At a minimum, it seems Goldmoney should more clearly notify users of how long it may truly take for transactions to get confirmed.
  • lz80521lz80521 Posts: 8 Tin ✭
    @Melanie
    More than 11 days to "move" gold? SERIOUSLY? I suspect Goldmoney might have met some significant operation issues.
  • DeOmnibusDubitandumDeOmnibusDubitandum Posts: 48 Copper ✭✭
    Current credit card deposit confirmation times are rather frustrating. I am a new user and only my 1st credit card deposit was confirmed instantly. The 2nd one already took 5 days (3 working days) and the current ones are also still pending.

    To which vault did you deposit? Mine were all to Brink's vault in Zurich. However, I noticed on the real time audit page that ALL vault inventories have been mostly unchanged for the last couple of days. I understand that physically moving gold to the vault and having it confirmed by the custodian is quite an effort, but waiting this long worries me a bit. Maybe there is a problem with restocking new gold or the way Brink's works in general.

    In any case it would be really good to know the actual reasons for this.
  • lz80521lz80521 Posts: 8 Tin ✭
    Finally confirmed today. After 12 days pending. Goldmoney never gave any official response about the delay. Really disappointed.
  • MelanieMelanie Posts: 1,045 Gold ✭✭✭✭✭
    @lz80521 Our support team responded to your email on May 18th to explain the delay - please check your junk folder in case it was routed there in error!
  • AlienMeAlienMe Posts: 53 Copper ✭✭
    @melanie, I just got confirmed in toronto after 1 week elapsed. Is there a common reason for the delays that you can share so that everyone is on the same page? I'm sure it would make it easier for your support team as they must be flooded with emails.
  • GoldIsCurrencyGoldIsCurrency Posts: 1,724 Gold ✭✭✭✭✭
    @AlienMe The below should help provide a better understanding why Pending delays. Cheers.

    All gold bought on this platform is 100% fully allocated to the client.

    As we all know the gold is stored in Brinks Vaults. Within Brinks vaults there are different lockers/cages for each Brinks customer. So when we as a Goldmoney client make a purchase of gold if there isn't enough unallocated gold currently in the Goldmoney locker more gold bars need to be moved from a sellers locker over to the Goldmoney locker. So on occasion a new purchase of gold by a Goldmoney client can go into "Pending" status and will remain in Pending status until Brinks has confirmed that a new bar/bars of gold have been moved into the Goldmoney locker. The Goldmoney platform works on 100% transparency so the status will not go into "Confirmed" status until that gold is in the locker via electronic confirmation from Brinks. On occasion the above process can take a few days as Brinks has times were they can get really busy moving bars around and also there could be some delays with limited Brinks staff working during weekends and holidays.

    Please also take note that an outsider Auditor KPMG (known as one of the big 4 worldwide auditors) physically audits the Goldmoney locker holdings within the Brinks Vaults. All bars are serialized and accounted for. 100% transparency.

    Hopefully knowing the above will help understand the pending status period better. This is the benefit of owning gold on the Goldmoney platform versus other choices in the world that are not fully allocated and do not have the utmost highest level of transparency that Goldmoney provides to their clients.
  • mr1mr1 Posts: 344 Bronze ✭✭✭
    @GoldIsCurrency First off, I do think that is a great explanation and I really appreciate you helping people out so often to understand those points.

    However, that only explains why a pending period occurs. I think the bigger issue is why Goldmoney is still claiming that the pending status should take 1-2 business days, when many people are experiencing much longer waits. People want to know why their transactions are being delayed longer than what Goldmoney says they should take. Goldmoney should monitor these pending times, and give customers a more accurate window of how long it will take. Right now, they are flat out misleading customers.

    I want to promote Goldmoney to others so badly, but this makes me hesitate a little. Hopefully it will be rectified soon.
  • CampeadorCampeador Posts: 201 Bronze ✭✭✭
    I have a Dubai pending status for about 2 weeks long. Charged already on my card, no "goods" delivered yet...
  • lz80521lz80521 Posts: 8 Tin ✭
    @GoldIsCurrency SERIOUSLY? Within 1 week is acceptable. But 12 days for me? 12 days to move gold???
  • jonnybitcoinjonnybitcoin Posts: 23 Tin ✭
    I've been waiting for over two weeks now! This is ridiculous makes you worry that goldmoney has some serious operational issues. why don't they change the pending notice to somthing above the stated 1-2 days for confirmation.
  • GoldIsCurrencyGoldIsCurrency Posts: 1,724 Gold ✭✭✭✭✭
    edited May 25
    I don't work for the company, I was just giving as detailed of a description how the process flow works as my understanding.

    I buy a small amount of gold every day in the Toronto Vault. The gold I bought yesterday is in Confirmed status today. About a week ago I had 2 or 3 days worth of gold purchases in Pending Status so when that happens I can tell the vault is VERY BUSY as that VERY RARELY happens on my daily purchases. Now everything is caught up and getting Confirmed near immediately again.

    Maybe @Melanie or @Chris can provide more insight for people like @jonnybitcoin @Campeador who have stated they are experiencing an over 2 week wait which seems oddly excessive to me as well.
  • AlienMeAlienMe Posts: 53 Copper ✭✭
    @GoldIsCurrency , thank you for the explanation. I, and I'm sure other members appreciate it as we also do the efforts of goldmoney support team. They must be very busy and information on this forum alleviates the need for their involvement so we all benefit. Everyone here is a fan of goldmoney and we all want it to work. As @mr1 said, the issue isn't as much the delay but the misleading auto replies which make no mention of potential delays. There were instances where technical problems were an issue in other goldmoney processes, at least my case, and it was a good idea for me to investigate. It's frustrating to be always in doubt as to whether the delay is valid or a glitch that invalidated the request.
  • jonnybitcoinjonnybitcoin Posts: 23 Tin ✭
    Still pending, I've been waiting 3 weeks now for my confirmation to the dubai vault. What on earth is going on, I'm starting to get worried.
  • CampeadorCampeador Posts: 201 Bronze ✭✭✭
    I will not mind the pending status if nothing was charged. Cough out $2,000 and still no goods. What is up with that...?

    By the way... same here with Dubai.
  • ghostfaceukghostfaceuk Posts: 2 Tin ✭
    Waiting for over a week now (10 days to be precise) for a BTC deposit in Dubai. I will admit I have had the what appears to be template email response from support about the gold needing to be physically moved across to the vault so I thank them for that.

    The problem i think is more in the frustration that the help balloon pop ups state it should only take 1-2 days for the transactions to be confirmed but we are seeing longer delays than this with no reasons given as to why. Even if it was changed to say this can take a few days for this to be confirmed would be better as 1-2 days is definitive time frame, once its gone over this people start to wonder, a few days later and people can start to worry as some people are putting a lot of money in to these transactions.
  • CampeadorCampeador Posts: 201 Bronze ✭✭✭
    Well... finaly mine came through in Dubai; hapenned yesterday. Hong Kong seems to be the one; is almost instant. I hate to put all the eggs in one basket, but, for now, has to do it.
  • GoldIsCurrencyGoldIsCurrency Posts: 1,724 Gold ✭✭✭✭✭
    Toronto Vault works fast on my end, near instant almost all the time.
  • TexTex Posts: 197 Bronze ✭✭✭
    At the beginning of May there were some delays but everything has been running smoothly since. Looking at the posts it looks like the majority of the issues were with the bitcoin vault in Dubai.
  • jonnybitcoinjonnybitcoin Posts: 23 Tin ✭
    My purchase has been pending since the 10th of may. Nearly a month and no reply to my 3rd message to customer services!
  • ghostfaceukghostfaceuk Posts: 2 Tin ✭
    My deposit to the Dubai vault has been pending for two weeks so not quite a long as johnnybitcoin's but longer than the 2-3 days it can take on the pop up help text.

    Each reply from the customer services has said they are awaiting verification the gold is actually in the vault before they will update it to confirmed.
    I understand this needs to be the case but after people are saying its taking much longer than expected shouldnt goldmoney be looking into this?
  • jonnybitcoinjonnybitcoin Posts: 23 Tin ✭
    I have now had my issue resolved. my payments have now settled
  • GMONEY1GMONEY1 Posts: 408 Silver ✭✭✭✭
    @jonnybitcoin What was the issue? (I was your tweets with Roy as well...so just wondering what actually happened) Thanks
  • scottyoshimurascottyoshimura Posts: 2 Tin ✭
    HI Everyone I put in my first crypto order on 5.23.2017 and am still pending. 2+ weeks for me. Emailed about a week ago and support said they were filling the vault.
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