Why does goldmoney not allow me to redeem cubes?

My account balance is higher than the total cost for the 10g cubes I want to physically obtain (with shipping, service fee, etc...) yet goldmoney error message states I do not have enough funds to withdraw from the vault. Very frustrating when it is not the case. Anyone else have this happen? How to resolve? Waiting 1-3 days for an email response to a query is ridiculous. Where is phone support?

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Answers

  • IrishGuyIrishGuy Posts: 85 Bronze ✭✭✭
    edited October 3
    @technokidz
    Without knowing the details hard to say what your problem is.
    Have you taken into account the 0.5% widthdrawl commission also.
    Is it all in the same vault?

    Goldmoney users, does it matter which vault it is? I did not think so but for holding only Toronto is allowed for transfers to holding etc.,

    Is there different shipping costs and rates for various worldwide locations?

    This should be simple math 10GAU + 0.05GAU commission + SHIPPING (up to 1 GAU guessing for a registered package)

    Would like to hear what rates are for shipping. Never requested physical.

    If my math on commission is incorrect, please also update this.

    Hope this helps the discussion @technokidz
  • RocketDogRocketDog Posts: 403 Bronze ✭✭✭
    @technokidz @IrishGuy

    If the redeemer is using a Personal account, all of the fees and shipping costs will show up in the shopping cart and it changes dynamically as you change gold quantity. So you should know how much money/grams you need to make a purchase.

    You have to choose which vault you are redeeming from. This process is not obvious. You have to click on the arrows next to the displayed vault, to get to the next vault. It is sort of a carousel effect. Click until you get to the vault that has enough gold in it. (They will show you vaults that have no gold in them and you will get an error on those or any vault without enough gold to cover the transaction.)
    If you select a vault with enough gold to cover the whole transaction, you should be able to proceed.

  • technokidztechnokidz Posts: 4 Tin ✭
    Thanks @RocketDog

    I had ensured all of that multiple times when attempting to redeem. It is set to the correct vault (I went through all of them anyway and every vault had the same message), I have ensured that there is more than enough funds to cover the purchase as well. Very confusing and frustrating. I even tried changing currencies from CAD to USA to see if that made a difference, but no.
  • IrishGuyIrishGuy Posts: 85 Bronze ✭✭✭
    edited October 3
    @technokidz try currency called GAU

    "I have ensured that there is more than enough funds to cover the purchase as well"

    Are you buying or redeeming the gold?
  • technokidztechnokidz Posts: 4 Tin ✭
    @IrishGuy

    Hmmm.... In the checkout summary it calculates a redemption fee and it is 5% of ONE 10g cube, even though I am attempting to redeem more than that. Nowhere close to 0.5%. The physical delivery charge works out to 13% of ONE 10g cube.... So on my checkout screen it is indicating that I would have to pay over 18% in "redemption" and "physical delivery" fees to get ONE 10g cube returned. The fees remain the same when I increase the redemption request to 3 cubes... Perhaps there is a glitch in the calculation page when more than one cube is selected? 18% to get the physical gold? Get me the heck out of this arrangement!
  • technokidztechnokidz Posts: 4 Tin ✭
    @IrishGuy

    I tried GAU and it still gives me the same issues. Also, I am trying to redeem (I said "purchase" meaning "purchasing" the cubes... oops)
  • RocketDogRocketDog Posts: 403 Bronze ✭✭✭
    @technokidz
    The redemption fee is only .5 gram (not %) no matter how much gold you redeem at once. The shipping fee goes up a little bit as you add items to your order.
    It sounds like you are doing everything right. I set up a purchase for a single cube, chose a good vault and went ahead to the "verify" screen with no errors, so the system is working for me.
    I wish I knew what else to tell you.
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