Verification Issues

Unfortunatly I have been unable to take advantage of my Holding account since I have yet to get it verified after several attemps over the past year to rectify. So I'll post my displeasure online in hopes that it will get the attention it deserves or take action to close my account in frustration.


  • RocketDogRocketDog Posts: 736 Silver ✭✭✭✭
    Well, if you cannot provide the information that customer service needs, or your information in fact, makes you appear to be a criminal, then by all means, close your account in frustration. If however, you have provided what they ask for and you are not, in fact, a criminal, then my condolences that you have had to wait so long. There has been a long delay this year but the backlog seems to be easing up as there have recently been many reports of others getting verified after a long wait. Perhaps give it a bit more time? Or contact customer service directly?
  • bennettbennett Posts: 16 Tin ✭
    I feel your pain @michaelburger. I originally signed up for a holding in January. I've spoken with customer service twice during this period. They were very responsive, but there was nothing they could do. Still patiently waiting for approval. Going on six months next month is pretty astonishing.
  • bennettbennett Posts: 16 Tin ✭
    I should report back that I am now fully verified for the Holding. How's that for timing? :)
  • GoldmattersGoldmatters Posts: 3,992 Admin
    Thanks for the update @bennett :)
  • shonshonshonshon Posts: 3 Tin ✭
    it taken me a whole year and still not verified. they say I must do an offline verification which is nearly impossible. I dont see why all the hassle when I have one of the old accounts now. maybe I should just give up on this whole thing. keep my original account and hope they dont steal my gold in the future.
  • RocketDogRocketDog Posts: 736 Silver ✭✭✭✭
    @shonshon Prior to the merger of BitGold and GoldMoney, GoldMoney always had a much more rigorous validation process. BitGold accounts (which are now the Personal and Business accounts) were very easy to get, and required minimal verification. So if you want to upgrade to a Holding and have it be validated, you do have to do the extra work to get validated to their standard, because they are trying to remain compliant with the Anti Money Laundering and Bank Secrecy Act regulations -- which require all that validation.

    I don't know the actual policy of Goldmoney, but on this board we have heard from some people with unverified accounts who say they could not get their money out of the account. We think it is because they were not verified. I would recommend the first step is to make sure you can get some money out of your Personal or Business account (previously BigGold). If so, continue to use it because they are quite convenient and you can save/spend up to 999 g of gold with very little hassle.

    As far as getting a Verified Holding with all that paperwork -- this is a major frustration in the modern world isn't it? Maybe something in Goldmoney's process will change. Maybe something in your life situation will change, making it possible for you to get the paperwork that you need.
  • GoldmattersGoldmatters Posts: 3,992 Admin
    @RocketDog I have to say I am really impressed by your understanding of the company. Thank you for articulating all of that and your general willingness to help other community members here. This is exactly what this place is supposed to be, community members helping each other. This is the heart and soul of the concept of the community forum.
  • LGJLGJ Posts: 68 Bronze ✭✭✭
    Wow @bennett, that is some crazy timing!

    I don't think that we need to assume @michaelburger is a criminal or that he hasn't submitted the paperwork that Goldmoney has asked for. In my experience, the modern world has become much better at requiring less paperwork, not more. Heck, Goldmoney in their last video talked about being open an account in just a few minutes (see 1:00 mark ). I think people would be surprised to hear that yes you can open an account, but you can't utilize all the advertised features for months while we process your paperwork at government level speeds.

    In my opinion, the forum is built to ask questions, find answers, share knowledge and meet familiar folks. Sometimes that means hard questions and critical feedback in addition to sharing positive stories and enthusiasm for the company.

    When it comes to Goldmoney, I am all in. That doesn't mean that I will ignore significant issues, or be silent on poor performance. It does mean that I am excited about the vision/progress and I encourage others to check it out. Borrowing some of Roy's verbiage, I am "cautiously optimistic" about its future.
  • delamartredelamartre Posts: 3 Tin ✭
    edited July 2018
    How long does it normally take to verify an account? I am about to add some extra funds to my "holding", but first I like to have it verified (as otherwise, I might end up with my money stuck). Any ideas? I have sent an email yesterday to customer service, bit no luck yet. From a distance, and also based on other reviews, Customer service seems to be understaffed!?
  • RocketDogRocketDog Posts: 736 Silver ✭✭✭✭
    It is hard to say, @delamartre. Verification times are speeding up. Some people got verified in less than a week recently. Some people have waited months.
    It may depend upon where in the world you are, whether they can read your uploaded material, etc. It could also depend upon the backlog. There does not seem to be much communication during the verification process. If you have a Holding rather than Personal account, you should be able to call their customer support number during business hours and talk to a live person.
    I agree that you should not deposit much until verified as people have reported that their money could not be withdrawn from an unverified account. And that is probably frustrating right now, cause gold and silver are down in price and it is a good time to buy.
    Best of luck. I hope you get results soon.
  • delamartredelamartre Posts: 3 Tin ✭
    So I am still waiting. Waiting for my verification, waiting for a reply on my email. No single reaction (Basic fundamentals of wait time management: Inform people. Not happening!).

    It seems that if I would take a boat from Europe to Canada, I would be quicker than getting a (digital) reply from How can this be? I just do not understand.. It is not that goldmoney is selling lousy T-shirts for a few dollars, it is about investing in Gold- funds. How can you be so good in attracting customers and then completly ruin it with the first impression? I just do not understand.
  • RocketDogRocketDog Posts: 736 Silver ✭✭✭✭
    I would call their support number during business hours if I were you, and eager to fund my account. That seems to be how people get their problems solved. They are very helpful and responsive once you get them on the phone. Maybe they can tell you why you are not yet verified if you call them?
  • delamartredelamartre Posts: 3 Tin ✭
    Thank you for your feedback. I tried to call them during business hours. First had to wait for minutes, then was asked to leave a message and did so. No reaction since :(
    Will try again later... Any idea on the best possible time to call?
  • AlexSAlexS Posts: 1 Tin ✭
    5 to 7 businesses days it usually takes to get your account fully verified - as the official Goldmoney statement goes. Now, wonder what legal actions could be taken against the company in case of intentional delaying of the process of validation?
  • RocketDogRocketDog Posts: 736 Silver ✭✭✭✭
    Most likely none. The company does not have to validate your account. Of course, they probably want to, because they want more customers. But they do not have to. In today's highly monitored environment they'd be better off not giving even suspicious looking people a verified account.
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