Everytime I request to withdraw my 1 kilo bar from London I get an error anybody else?

Everytime I request to withdraw my 1 kilo bar from London I get an error anybody else? how can i get my gold?
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Answers

  • GMONEY1GMONEY1 Posts: 414 Silver ✭✭✭✭
    @jonnybitcoin send a message through your Holding account. Ask that way and you'll get personalized support.
  • IrishGuyIrishGuy Posts: 132 Bronze ✭✭✭
    @jonnybitcoin
    Have you some extra GAU in the account to pay the withdrawal fee/charge ?
    I have read people try to withdraw everything and get errors like this.
  • jonnybitcoinjonnybitcoin Posts: 23 Tin ✭
    I don't want a gold money holding account.
    And yes I have the extra gold to pay the fee
  • IrishGuyIrishGuy Posts: 132 Bronze ✭✭✭
    @jonnybitcoin
    Ok thanks for clarifying. Once you do have a resolve the issue/ have a solution can you let us know how you resolved it?
  • GMONEY1GMONEY1 Posts: 414 Silver ✭✭✭✭
    @jonnybitcoin If you are referring to your Personal Account, then you might find yourself in that catch 22 situation that occurs right around 1000 g.
    Technically, the max for a personal account is 1000g, so I don't fully understand how you'd have more than 1000g to account for fees associated with the physical delivery of a 1Kg bar.

    Is this a hypothetical situation, or are you looking to take action now?

    I thought you were using your wealth/Holding account; sorry bout that. In that case, you could message or call cust service.

    I'd probably contact SchiffGold via phone if you really want the physical, unless @Goldmatters @Roy Sebag or someone else on the inside has a better suggestion.
    Cheers
  • jonnybitcoinjonnybitcoin Posts: 23 Tin ✭
    edited September 23
    2 weeks have past and nobody has got back to me.
  • RocketDogRocketDog Posts: 460 Bronze ✭✭✭
    Well that's disturbing. I mean, if a guy has at least a Kilo's worth of gold in the vault, he should be able to go pick it up. That is part of the Goldmoney mantra: holding real gold 1:1 which can be redeemed for physical gold on request.
  • jonnybitcoinjonnybitcoin Posts: 23 Tin ✭
    edited September 25
    Now they tell me I need to have more than 1005g in my account to be able to collect my gold bar.
    But when I try to deposit it won't let me because I have over 1000g in my account.
  • RocketDogRocketDog Posts: 460 Bronze ✭✭✭
    @Johnnybitcoin Sounds like a logic trap! If you can easily add/remove funds without penalty, maybe try drawing down your account to under 1000 (transfer it to your card or something). Then try to add funds so you will be back over 1005 g. (I wouldn't do that if you will incur a lot of fees, seems like something support could work out for you (I know...not much support these days).

    Keep us posted, your frustrations are unfortunate but educational to the rest of us.
  • GMONEY1GMONEY1 Posts: 414 Silver ✭✭✭✭

    Now they tell me I need to have more than 1005g in my account to be able to collect my gold bar.
    But when I try to deposit it won't let me because I have over 1000g in my account.

    @jonnybitcoin This was exactly the catch 22 that I was referring to above.

    1000g is a lot of gold (congrats on that!!) ... I think the original business model was to have HNW individuals in Wealth/Holdings; and then those vault pick-ups could happen on that platform with the help of your relationship manager if needed. If you have a Holding, you should be able to do a free transfer from Personal to the new Holding and then schedule a pickup.
    Interested to hear what happens with this...
  • jonnybitcoinjonnybitcoin Posts: 23 Tin ✭
    I do not want a holding account I signed up for a personal account with free storage and low redemption fees. Now goldmoney is morphing into something I don't like and I want to close my account.
  • JimmymacJimmymac Posts: 25 Copper ✭✭
    edited October 2
    You could withdraw a 500g bar, then add enough extra at that point to cover fees and withdraw the other i guess. I know that gives you 2 x 500g bars, but its one answer.

    Kind of like taking 2 fivers instead of a tenner,
  • mr1mr1 Posts: 344 Bronze ✭✭✭
    @Jimmymac
    Unfortunately I don't think that 500g bars are available for pickup from the vaults. I think the only do 1kg bars.
  • JimmymacJimmymac Posts: 25 Copper ✭✭
    edited October 3
    Just had a look and yeah, seems the only one that offers less than 1KG is Zurich, which offers 100g. Only way I can see other than opening the holding would be Vault to vault transfer to zurich, 600g first, then with draw 5 x 100g, and have them mailed onwards. then repeat with what is left in the london vault, build back up to cover fees then witdraw the other 5 x 100g.

    Seems a lot of work though (and you end up with pound coins rather than fivers)
  • jonnybitcoinjonnybitcoin Posts: 23 Tin ✭
    One month since I requested my gold and I still I just get nonsense replys from support.
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