Terrible support and my money has disappeared.

I made a withdrawal request on June 8th, it was confirmed on June 12th, today is July 4th and there has been no credit to my bank account.

I logged a support ticket, telling Goldmoney of this on June 18th and there has been no response from anyone there. Nothing at all, in nearly 20 days.

This is bordering on fraud and does the gold investment industry a huge disservice. I used to be a big fan of Goldmoney but to say I'm disappointed is an understatement.

I've logged a complaint with their Jersey regulator and will be exploring that route to get my money back.

If you've still got holdings in Goldmoney, proceed with caution.

Posting here is my last resort - I even called the number on their website, only to be told they didn't service Personal customers and my only recourse was an email - which never gets answered!

Comments

  • KatyMillingtonKatyMillington Posts: 49 Staff ✭✭✭✭✭
    @crankyMcCranky Sorry to hear about this. Could you please email me asap - katy.millington@goldmoney.com - and I can get this resolved for you?
  • MelanieMelanie Posts: 1,045 Gold ✭✭✭✭✭
    Hi @crankyMcCranky - I have just responded to your support case to advise of the cause of the delay. Once you have taken the information I have provided to your bank for confirmation, we will be happy to promptly initiate the transfer again for you. Our apologies for the delay in response as we worked to resolve this for you.
  • CaptJCaptJ Posts: 4 Tin ✭
    I hear ya @crankyMcCranky. I'm experiencing Goldmoney's customer "service" myself. I made an EFT transfer from my Canadian bank account to Goldmoney's bank account on May 24th (as a purchase of gold). The gold STILL hasn't been credited to my account.

    I contacted Goldmoney support via e-mail. They said they couldn't find the deposit. They asked for proof that it had been sent from my bank account. Luckily, I kept a screen shot of the transfer. I forwarded that screen shot to Goldmoney only to hear (again) that they couldn't find the deposit. I contacted my Canadian bank again to see if they could provide a reference number or additional information. My bank offered to run a trace of the deposit for a fee. Within a day, they received confirmation from Goldmoney's bank (RBC) that the deposit was received in Goldmoney's account on May 24th. I passed this information along to Goldmoney. Still, they can't find the deposit and are asking me to provide additional information. What am I supposed to provide?!! Their own bank acknowledges the deposit to Goldmoney's account!!

    It's frustrating not being able to speak to a person while e-mails go without a response. I hope that @Melanie or @KatyMillington can help out.
  • MelanieMelanie Posts: 1,045 Gold ✭✭✭✭✭
    @CaptJ I will send you a follow up email as well, but your deposit has been located and credited. You had initiated a bank wire deposit through the platform, not an EFT, so our team was correct in identifying that your deposit did not arrive to our wire account. Please endure on future deposits that you use link your account via microdeposit verification, and utilize the EFT (or "Direct Bank Transfer") deposit option if you are sending an EFT. This distinction makes a significant difference operationally, which is what caused the locating issue.
  • crankyMcCrankycrankyMcCranky Posts: 5 Tin ✭
    I'm just glad that @melanie and @KatyMillington are here to help.

    Something *really* easy in my case would have been to either

    - show the failed transfer in the transaction log ;and/or
    - credit to my account

    What I *definitely* don't want to see is money disappeared. It's not a great look. You can take your time with the communication problems, but if money is missing we are talking borderline fraud.

    We are still working it it out to resolve this issue.
  • crankyMcCrankycrankyMcCranky Posts: 5 Tin ✭
    @CaptJ - sorry to hear your troubles amigo - hope they get resolved soon.

    The various transfer types seem to be a source of frustration and easy error. Hope they can make it easier/less error-prone.
  • CaptJCaptJ Posts: 4 Tin ✭
    Big ups to @Melanie for resolving my issue. Thank you. FYI - I linked my Canadian bank account to my Goldmoney account at the time of the May 24th transfer. However, there isn't an option for "Direct Bank Transfer" in my list of payment methods so I assumed "Bank Wire" was the way to go. I wonder if I don't have the "Direct Bank Transfer" option because I live outside of Canada?

    Like you @crankyMcCranky , this experience has rattled my confidence in Goldmoney. I like the idea of Goldmoney, but I'm concerned about their operations. Everything from taking six weeks to locate a deposit to the scrambled roll-out of the new Goldmoney (ie. only wealth holding accounts) to my account "terms and conditions" changing twice within six months. For a company that wants to be considered an alternative to a bank, it sure doesn't feel as solid as a bank.

    I will continue as a client with Goldmoney for now....cautiously. Hope your issue is resolved soon @crankyMcCranky
  • crankyMcCrankycrankyMcCranky Posts: 5 Tin ✭
    edited August 4
    @Melanie or @KatyMillington - my issue is *still* going on.
    €1000 of my money is in lalaland and I'm not getting any response (again) from support.

    At this point I just want my money back, so I can close my account. Enough is enough.

    Gold might be a great investible asset, but if I'm having this much trouble accessing funds and support - which I need only when things go awry - then Goldmoney is not for me.
  • KatyMillingtonKatyMillington Posts: 49 Staff ✭✭✭✭✭
  • freespirit_0707freespirit_0707 Posts: 7 Tin ✭
    I'm still having trouble. They don't listen or reply. They have my money and I can't even log in anymore. this is unacceptable.
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