Equifax verification working for U.S. Holding account?

I am now seriously thinking about upgrade from personal basic account to holding account. I found many complaints months ago on the Equifax verification step. I am U.S. citizen and U.S. resident, how long will the Equifax verification step take for me? hours? days? weeks? months? Are there any positive stories on this for folks from U.S.?


  • AuYeahAuYeah Posts: 2 Tin ✭
    edited November 2017
    I have been waiting almost 4 weeks since I first input my information (U.S. citizen, U.S resident). I sent a message asking about the verification period, and was told 1-3 weeks is typical, however, they also state it may take longer due to the large number of applications being received.

    Roy Sebag tweeted at the end of October that they would be pushing "new code which will make the [equifax] process far easier." I don't know what that means exactly, but I think he understands people are disappointed at least.
  • GoldDustGoldDust Posts: 24 Tin ✭
    @Shoreline : That part of the verification process was instantaneous for me. When I first signed up, I was not aware of the potential problems. And to tell you the truth, I have had none. I signed up using Equifax and that part of the verification was quick and easy. I also included my wife as an owner and she was able to go through the same process. In both cases Equifax verified in seconds.

    For the non-Equifax portion of the verification process, I used a photo of my passport, CA/ID and bank statement. It took exactly 3 weeks for my account to go from an "unverified holdings" to "fully verified holdings" though it stated it would take 4-5 business days. I suggest you use documents that can not be disputed to help speed up the verification process, however, this is just my personal opinion. I believe it would be harder for Goldmoney personnel to verify your address from a bill from an unknown merchant, say 24 hour fitness, as oppose to a corporate bank statement such as Chase or BofA. Again, this is my personal opinion.

    As I stated, I'm located in California so the other positives for me is that I can still reach a CS representative over the phone using their free 800 number. I usually try calling between the hours of 7AM - 9AM. So even if they are in the UK, I can still reach someone during business hours.

    I'm still testing the system and trying to learn as much about it as I can... and hopefully pass along some useful information to my fellow Goldmoney users.

    I hope this helps.

  • ShorelineShoreline Posts: 32 Tin ✭
    @GoldDust @AuYeah Thank you all for sharing the information. I successfully redeemed half of my balance overnight. I am now ready to do upgrade this weekend.
  • Lone_StarrLone_Starr Posts: 104 Bronze ✭✭✭
    @Shoreline I switched over months ago. It took 3-4 weeks overall. There weren't any problems. I've never had problems putting money into my holding account or cashing out through the debit card.

    **The only issue is the slowness of the customer service. It took two months for them to answer two questions. The customer service guys are always friendly and helpful. It's just the response time that has me concerned.

    Be aware that ACH is not available so the ability to get your USD in to Gold costs more and the only way to get your USD back out is through the debit card (1% to load the card, 2.50 plus the what the banks atm charges to get cash)

    I wouldn't suggest switching 100% over until ACH is available but I would suggest opening a holding account and use a few bucks to get the feel for it.

    I've been using PayPal for business since the very beginning and the growing pains Goldmoney has been experiencing feel very similar to back then.
  • ShorelineShoreline Posts: 32 Tin ✭
    Their online verification step is down. If GM do not fix this, I will just give up and dump GM.
  • ZHanover89ZHanover89 Posts: 3 Tin ✭
    I logged in to complete verification and see that the online verification is down. I simply find it ridiculously inconvenient to have to find a notary, mail to the UK, that whole process. If the online verification doesn't come back soon I doubt I will end up bringing my business here.

    Much work to be done around here....
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