is it mandatory to open a goldmoney holding account

Is it mandatory to open a wealth holding account. What if i choose not to and just have a personal account, what happens? Please help. Thanks


  • GMONEY1GMONEY1 Posts: 426 Silver ✭✭✭✭
    edited August 2017
    Recently goldmoney announced that ALL new accounts would be the "Goldmoney Holding" account. So if you are an individual, then you only have one option.

    If you currently have a personal, then you can keep that for the time being; GM has not said officially that they will be sunsetting personal accounts; but given that 1)all of the future software development is on the Goldmoney Holding and 2)there are additional features/accessibility to PMs in the Goldmoney Holding... it might be a good idea to consider a future in the new Holding.

    Right now I am still in both, with plans to completely migrate soon.
  • Gold_RichGold_Rich Posts: 2 Tin ✭
    The only issue I have with gold holding account is their verification process. It requires lots of documentation which has to be notarised. I live in India where I can't seem to find decent notary officials. They exist but they are not part of a professional organisation and do not have registration numbers. I am a professional who works around the world. I don't have the time for this paperwork. I am from Singapore but I work in India. I am not eligible for a debit card because I only have an Indian mobile number for sms verification and I have no option online to enter an Indian mobile with a Singapore residency address. If Gold Money requires me to switch to a holding account then I will close my personal account, which is regrettable. I thought gold money was a great idea, but the new bureaucracy is just stifling.
  • RocketDogRocketDog Posts: 736 Silver ✭✭✭✭
    Hey @Gold_Rich, obviously you are a criminal. ;)
    Just kidding. As a person who has lived and worked in multiple places at once I feel your pain.
    Even just staying within USA and trying to live in two different states at once has been difficult the last several years. I have to bring 5 forms of ID just to get a driver's license when moving to a new state. I thought it was government meddling (of course). But they said it was in response to Identity Theft prevention.
    The post office kept automatically changing my address and sending notifications to everywhere I do business -- banks, utility companies etc. (The post office considers that "a service", I consider it spying and meddling.
    Then the banks would put a hold on my account and say they "lost my address" and need me to reverify. And I would show them proof that I never sold my house or changed my address but rather than reverify I just closed my accounts, telling them that if they can't even keep my address on file, why would I let them hold my money?

    Hopefully you will find yourself in a place and time where your location, identification, and notaries all line up with the stars so you can get yourself a Goldmoney holding. It may, in the future, be one of them most convenient global forms of payment.
  • GumtooGumtoo Posts: 8 Tin ✭
    edited August 2017
    I agree with Gold_Rich. What is going on? Goldmoney Holding sounds like it is more invasive and will cost me more. Looks like I'll be closing my account, too.
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