anyone else?

GoldtraderGoldtrader Posts: 1 Tin ✭
edited November 2017 in About Goldmoney
I tried multiple times to transfer money from my holdings to my bank account. And although they say they wired the money! that is not true, the money was never received. My bank informed me that they never even issued a wire transfer! And of course they don't answer or respond to your requests.

From reading reviews online it seems that I am not the first one like this. this is 10k so I am hiring a lawyer to chase the money. I don't know if anyone had such a problem with them.


  • paddy10tellyspaddy10tellys Posts: 249 Bronze ✭✭✭
    I doubt its a scam. They are just slow & inefficient. Let us know what happens @Goldtrader
  • RocketDogRocketDog Posts: 701 Silver ✭✭✭✭
    Agreed. Even though long delays do occur, most people are getting their funds. I think there are some people who have put money into an unverified Holding that are having trouble getting their money back out. Otherwise, there is either just the built-in delay of purchasing or redeeming the metal as the purchase or sale is made and the change is marked on the ledger; or there is some communication problem between Goldmoney and the bank; or some other issue that we don't usually deal with in cash to cash transfers with banks and merchants.
    I think that rather than getting a lawyer, you should work on trying to understand what exactly is preventing this wire transfer from occurring. Maybe try transferring to a different bank (if you work with more than one).
  • tomartotomarto Posts: 112 Copper ✭✭
    the issue is this GM service needs to get better......10k is large
  • Mancini0001Mancini0001 Posts: 2 Tin ✭
    Ive been waiting 8 days. So far nothing has come through.
  • Adam_Eve_8Adam_Eve_8 Posts: 2 Tin ✭
    How long have you waited to be verified? I summited everything yesterday and i was curious how long this process takes? I can understand high volume and slow servers but with all the advancements in this tech I would of thought these delays would be a thing of the past....
  • paddy10tellyspaddy10tellys Posts: 249 Bronze ✭✭✭
    When you get to actually talk to a GM person they are very nice - there just isn't enough of them to go round....
  • GMONEY1GMONEY1 Posts: 426 Silver ✭✭✭✭
    @Goldtrader GM needs a (near-instant) settlement off-ramp process back into the banking system. There are far too many failed wire transactions. We've seen multiple people post about ACH off-ramp being needed in Holding, but I'm beginning to think that even that is a dated technology with 24-48hr settlement usually. I'd be more supportive of something along the lines of a RippleNet XRP settlement off-ramp, which could technically take about 10 seconds. I'm sure there is some politics and regulatory components to actually implementing something like this, but it is hard to dispute that "wire-transfers" "off-ramping" and rails back into the banking system are/have been a pain point for GM.
    I am optimistic; they will figure it out.
  • Mancini0001Mancini0001 Posts: 2 Tin ✭
    Now 10 days since gold taken out of on line account and still no money in my bank. And nothing pending to arrive.

    There is a a lot of optimism here I don't share.

  • GMONEY1GMONEY1 Posts: 426 Silver ✭✭✭✭
    That's too bad @Mancini0001 . Perhaps, @Goldmatters can escalate your issue.
    Good Luck
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