Holding Account Application Process Needs Work

I have an existing GoldMoney personal account that is verified and funded. However, I have to enter in all my information and verify my account again. That is a pain. You already have my information you should be able to reuse it. Also, the online verification process failed. It asked questions that were completely unrelated to me so I had to select "none of these" for all of them. Then it failed. Something isn't working correctly. Then I had to fill out this long form scrape together all the documentation but then your "send secure message" form won't allow me to attach more than one document. It was at this point that I stopped. It officially became more trouble than it was worth.

This process should have gone through more testing before you went live with it. I strongly suggest that you make it MUCH easier for existing customers to move to the new account type. I am going to wait until you fix some of these problems before I continue setting up my new account.


  • TexTex Posts: 197 Bronze ✭✭✭
    @packetmagic Thank you for testing that out. I was curious about the process of going from personal to a holding account. Hopefully they streamline it for us existing customers in the near future.
  • SecretsSecrets Posts: 55 Bronze ✭✭✭
    For what its worth the Equitrac verification worked for me. Usually they fail, so it was a pleasant suprise to see it go through successfully.

    Agree on the rest of the elements, however I assume the reason is that Goldmoney and Bitgold systems were never integrated so they could not transfer the data accross.
  • TomSwiftTomSwift Posts: 40 Copper ✭✭
    I have been waiting for a month to hear back from Goldmoney Wealth concerning my first draft of my application. I am just going to mail the documents they asked for and hope for the best.
  • Marco_1983Marco_1983 Posts: 152 Bronze ✭✭✭
    First of all, I want to congratulate Golmoney for the effort that you put in doing all this. I know what it takes to build a platform like this and also make changes to it, while trying to satisfy all your customers. So I understand. I hope you understand as well what I am going to say.

    I already have a Personal Account and I tried to apply to the new Holding. As soon as I try to do it it sends me to the Goldmoney Wealth account (should be 'Holding' now) where I have to type all my info again plus all other details such as "primary source of wealth" etc..

    This is what prevented me to open a Wealth account in the first place. I really would like to avoid telling what is my primary source of wealth and filling out forms that require multiple attempts to be eligible for verification.

    I like the option of buying silver so applying to Holding would be good for me. However, I agree with @packetmagic that there should be some type of automation transfer from Personal/Business to Holding, without having to sign up again and having to fill out forms, at least for the under $150.000 type of Holding.

    @KatyMillington I understand why verification processes are so important for a company, but I think Name, Address and Passport should be enough as a first step, specially for someone that already was verified with a Personal/Business account.
  • packetmagicpacketmagic Posts: 7 Tin ✭
    @KatyMillington There still hasn't been any movement on my account. Messages that I sent to customer support on June 19, 2017 have still not received a response. I know this is a new process but I am eager to use the new account features. :)
  • packetmagicpacketmagic Posts: 7 Tin ✭

    We are currently working on a considerably simplified process for most of our clients to sign up for the Goldmoney Holding - please stay tuned!

    The reason that the Goldmoney Holding has such a robust verification process is due to its regulated status in Jersey, Channel Islands. This status gives you as our clients more security to know that we are not allowing people to use our platform for nefarious means and your investment is protected.

    @KatyMillington Any progress on a simplified process?
  • mr1mr1 Posts: 359 Bronze ✭✭✭
    The latest status is described in the link below. I don't think they're a giving any timeline except that it is coming as soon as possible.
  • KatyMillingtonKatyMillington Posts: 49 Tin ✭
    @packetmagic drop me an email with your Holding number and I'll see what I can do to move things along for you - [email protected]
  • HClausenHClausen Posts: 36 Copper ✭✭
    I was also surprised by the amount of documentation required from existing Personal customers, and managed to create three distinct Holding accounts before I understood what was going on..

    That was a pain, but now it's in the past :)

    Somewhat related, I miss an option to have a small 'starter' account - perhaps up to 50 or 100 gram AU - that would make it easier for me to recommend Goldmoney to friends.
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