Migrating "Personal Goldmoney Account" to "Holdings" account

I really need some advice/help here. Two years ago I opened a "Personal Goldmoney account" and began funding it with modest biweekly drafts from my local bank. In August I was informed that I needed to open a Goldmoney Holdings Account. I did so, and now there is no access to my Personal Goldmoney Account. I cannot stop the biweekly drafts, I cannot redeem, I cannot even see how much gold I own. I have been trying to "Verify" my new Holdings account for 6 weeks and continue to get a message that my verification is pending. I tried using the online "Equifax" verification process and believe I answered the questions accurately, only to be told that there was a problem with my answers ("which could be due to a variety of reasons"). Now I am being told that I have to submit paperwork to be mailed to Channel Islands (!!!) to complete verification. In the meantime, I have no access to my account, I cannot get anyone to return my call, and I cannot repatriate my money. I do not have a large account, but still, is this any way to run a business? I think not. I used to be able to log on to my Personal Goldmoney account but apparently that website has been closed and the only access to Goldmoney is now via the Holdings website, still 'unverified.' I made copies of all of my proof of identity, proof of residence, and other details, scanned it, and sent it but have heard nothing. Frustrating is insufficient to describe my feelings about this FUBAR

Comments

  • TomSwiftTomSwift Posts: 40 Copper ✭✭
    It took them two months to process mine.
  • OptimanOptiman Posts: 50 Tin ✭
    I am fed up with the whole Goldmoney Holding business and have requested my funds returned and to close my accounts, one of which never really got opened due to their overwelming need to validate everything via Equifax, who have just recently had all their (your) data hacked.
    I would love to stay if I could just operate with Goldmoney and not Goldmoney Holding. Why do we have to migrate to something that clearly is overly complicate, doesn't work and has almost no Customer Service?
  • BarbellionBarbellion Posts: 27 Tin ✭
    Totally agree. I'm staying put until they say i have too then i'm cashing out.
  • JimmymacJimmymac Posts: 25 Copper ✭✭
    I can totally understand your frustration. Yes as gold money worked perfectly well before hand, I cant see why they needed to change it.

    The reason given was to offer all services to all customers, but almost of the services are negatives (higher and extra fees, Lots and lots of extra pointless"verification", a constant hiding behind the word "pending" & pretty much none existent customer support.

    On the plus side you can buy silver.

    At this point I am still willing to give them the benefit of the doubt, and put it down to "bit off more than we can chew syndrome" though its a real shame, as gold money personal was fantastic. the system was in place, and it worked well, why change it?
  • Marco_1983Marco_1983 Posts: 152 Bronze ✭✭✭
    @Jimmymac I agree. The only plus side is basically the you can buy silver, which for me it seemed worth it so that is the only reason why I opened a Holding.

    The best thing would have been to add silver in the Personal accounts. That would have been perfect!
  • OptimanOptiman Posts: 50 Tin ✭
    I agree Marco!
  • GoldpeaceGoldpeace Posts: 2 Tin ✭
    So our goldmoney personal accounts are unavailable. How do you migrate your funds to the holding acct
  • SecretsSecrets Posts: 49 Copper ✭✭
    The accounts are not unavailable.

    From the log in screen if you enter the holding number you go to the new Holding account. To get to the personal account you have to log out of Holding from the drop down menu on the left hand side, and then log in again using your email address.

    Once Holding is verified (which took me 30 minutes) after answering all the questions and scanning the docs required you can do a vault to vault transfer to move your gold accross. This took about 3 hours to complete.

    Just look at it the same was as you would opening a bank online. You can't expect to go to the website, not provide all the seemingly pointless information and still get an account verified if you are not actually going into the branch to do it in person.
  • Ragnar_DanneskjöldRagnar_Danneskjöld Posts: 4 Tin ✭
    I canceled my automatic monthly deposit, and requested physical to essentially clear out my account. Too many problems, too little customer service, too many unanswered questions, I just don't understand the fees enough.

    I may be back if things get cleaned up. Peter, things need to be fixed...NOW.
  • marcus_1982marcus_1982 Posts: 2 Tin ✭
    It's getting obvious that GM will not implement a more lean way to verify a Holding account for people outside of USA. So I am going to keep using my personal network account. It seems like GM don't want customers that are willing to pay storage fee. I would gladly pay it there was an easier and cheaper way to get verified. I can afford to go to notarius publicus buy will not spend money on such stupid things.

    Off the topic: Do anyone know if you will get a replacement card when the current one expires on the network account?
  • ShorelineShoreline Posts: 31 Tin ✭
    @marcus_1982 At this moment, I have to assume that there will be no replacement card. My auto load feature on my card is not working, manual loading, prepaid card itself is still good for my personal basic account.

    Given that bitgold worked so good in the past, I will give goldmoney a bit more wait and see and will do an upgrade to holding account after I move half of my money out.
  • marcus_1982marcus_1982 Posts: 2 Tin ✭
    @Shoreline I think you are right. I'll give Goldmoney until my card expires. After that I'll go to a competing company.
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