Closing a holding account that is verification pending and have deposit refunded

I'm thinking CS is swamped as I have been having issues using the online verification to open a holding acct for the last 3 weeks. At this point I'd rather just get the money refunded, or if its more convenient for GM, transfer it to my personal holding. I have asked the question twice with no response. Any advice on this?

I'm also glad to see people have no issues opening a holding account. That's great :) I'm just an average Canadian with excellent credit but for some reason Equifax claims they do not have enough info to verify me. I hope GM is not paying equifax very much for this service because I honestly think its garbage

The last resort i want to use is calling the credit card company and telling them I cannot access the product as GM leaves no provision in a holding account with a verification pending state to redeem.



  • Matt1513Matt1513 Posts: 3 Tin ✭
    You are not the only one, after waiting a month to get verified I finally got a message from GM. They want more information from Equifax. The online form they want me to fill out it the exact same one that was offered before the so called easy GM holding registration. Because this form failed to verify me (Canadian with good credit as well), they want to me to get somebody to notarize a form to prove my identity. This is way to much work to open an account and I refuse to do it. I waited about 6 weeks for this easy registration process and they only difference was that I had to wait a month before they asked me to do the exact same thing as the old registration process.

    I was a shareholder in this company for close to a year and a half but I have been selling my shares because of the lack of CS and if I am having this much trouble opening an account then I know many other people are. I was hoping that all the complaints on this board was only a few people but I do not think that is the case.

    This company has changed from what they used to be. The old personal account was to help the little guys save money in gold and prevent from inflation. Now they are just focusing on creating a service for large net wealth individuals.
  • Marco_1983Marco_1983 Posts: 152 Bronze ✭✭✭
    @Matt1513 I agree 100%

    Nothing has changed from the old verification process. They just added a link on the dashboard that says "your holding is currently unverified..." and when you click on it, it brings you to where you can download the old verification form that you have to notarize for proof of identity. Just like it was before.
  • LGJLGJ Posts: 57 Copper ✭✭
    I have had similar experiences. What happened to the streamlined process projected for mid September?
  • Marco_1983Marco_1983 Posts: 152 Bronze ✭✭✭
    @Optiman I know. I'm tired as well.

    However, I would wait if by the end of this year they come up with a new simplified verification process. If not I'll give up too. I just want to wait because I think just holding physical without having the possibility to spend it is basically useless, specially when the fiat system will collapse, since you won't be able to sell your metal normally.

    Obviously, without a Full Holding we can't transact with our metals, so in order to be worth using Goldmoney we must have a verified Full Holding. This is why I'm willing to wait a few months.

    If you don't want to wait, I fully understand. If you find other valid companies that let you transact with metals please let us know. I might be interested.
  • JamesTkirkJamesTkirk Posts: 19 Tin ✭
    edited October 2017
    Hmm.... Going to do a bit of a rant here.

    Been with Bitgold since 2015. had to submit ID
    The company has evolved to Goldmoney. Again I was asked for ID and I had to comply.

    Have heard that the Personal accounts will be changed to holding accounts and now need to submit even a more in depth ID check.

    Been having a heck of time using the on-line verification process.The only recourse I have is going the manual method by getting my passport witnessed by my notary or some other professional.

    My question to GM is this....

    Will this be the final time I have to submit to your ID checks?

    I love the thought of goldmoney and all it offers but it seems like their is something wrong in the backend. It doesn't leave me with a very good feeling of trust.
  • Marco_1983Marco_1983 Posts: 152 Bronze ✭✭✭
    @JamesTkirk I agree.

    I think that Goldmoney is the best out there in terms of features it offers, but yes, there is clearly something wrong in the backend, and if they don't do anything about it, it will make it hard for them to go to the moon.

    A company can't mess around with users/customers info like this. A passport and a bank statement GIVEN ONCE should be more than fine for verification purposes, like with almost every other company out there.
  • SpontaneousOrderSpontaneousOrder Posts: 267 Bronze ✭✭✭
    Bear in mind that these onerous verification requirements are not Goldmoney's fault at all. These are government-created hoops that they have to jump through to provide safe and legal services to everyone in 150 or so different countries. You're complaining about something Goldmoney has little control over. Just do what is required and move on. You'll be glad you did when the SHTF.
  • Marco_1983Marco_1983 Posts: 152 Bronze ✭✭✭
    @SpontaneousOrder "Just do what is required and move on"

    Even though I disagree, I'm not going to click the "Disagree" button because I do not want to ruin your "Likes" that you got from the few people that probably do not understand that different users may have different issues/situations.

    In fact, every situation is different. For example, I'm not an employee and not an employer, I'm self employed but my current business activity doesn't generate income. However I have invested a good amount of money with Goldmoney because I had this money saved during the past 10-15 years and it came from various jobs done in the past. And I have cryptocurrency that I would be willing to invest with Goldmoney to buy metals. There is no option for this situation on the form that I have to fill out and I do not want to pay a notary to certify the form just to hear from Goldmoney 1-2 months later that I'm "not eligible for to be verified".

    It is very easy to say "Just do what is required and move on" when you have a fixed income and a simple situation that can easily go through any verification process.

    This is why I rather wait for the simplified/faster verification process (which they said they would implement, by the way).
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