Why do I need a holding account to link with my bank account?

mamalenamamalena Posts: 2 Tin ✭
I understand that in order to link my bank account with Goldmoney...I need a holding account. I really don't want to have a holding account... I just want to proceed as simply as possible...with only the one personal account. However, I may want to grab all my gold and do a real estate deal at some time, so would want to be able to have my money put into the bank account. So I have attempted several times to open a holding account and it looks like I have done that but I keep getting messages saying that I still have to do something more... (submit a selfie along with the Drivers Licence I have already submitted. Can anyone tell me If I really need an Holding account and why? and if I do, does anyone know how to submit the required selfie? I see no way to send a selfie...and if I go back into the open an account page, it starts me all over.


  • RocketDogRocketDog Posts: 675 Silver ✭✭✭✭
    Hello @mamalena. It kind of depends on a few things, like what country you are in. But, I will try to clear up a little bit of this. If you have a verified Personal account you can wire money in and out of it from most countries. In countries that use EFT (such as Canada you can use EFT). The ACH in USA is being or has been cancelled. But you do need a bank account, or Paypal account to get your money into and out of Goldmoney.
    With a Personal account you can only hold 999g of gold. With a Holding you can have unlimited amounts of gold, silver, platinum, palladium, and hold cryptocurrencies.
    Several people have been asked to submit their identification more than once. The new verification system allows you to take a selfie with your webcam. I have not done that yet, so can't help you with that part.
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