Paypal & Cards are Adios

Well went into the account this morning to fund it only to find out that Goldmoney is only accepting wire transfers.. no bueno. Are any of you experiencing this too?
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Answers

  • cruzzado12cruzzado12 Posts: 5 Tin ✭
    Same issue.... In Personal Account :(

    I sent an email asking what happens..... I never received any previous email explaining any change either

    Not nice
  • IrishGuyIrishGuy Posts: 206 Bronze ✭✭✭
    edited November 16
    Hi @strongmoney @cruzzado12

    Yes looks like both holding and personal have this issue.

    In my case it is funny - can only find with an account but then says I did not link a valid account.

    Curious if this is now a drive to have everyone link bank accounts to the Goldmoney account.

    Do others getting this error message have no linked bank accounts?

    @Goldmoney you need to update
    https://support.goldmoney.com/hc/en-us/articles/360000530267-What-funding-options-does-Goldmoney-offer-
    if this goes on much longer.

    If this was a bank and they just decided not to take cash and cheques as the equivalent of bank cards and credit cards they would be articles all over the internet and people sitting outside branches.

    The funny thing is you would have James Turk and Peter Schiff criticising that bank/fiat system

    I can also see the bitcoin community uses this as a point that everyone should just be their own bank and avoid potential funding and withdrawal options from fintechs and banks linked to the fiat system.

    I thought that Goldmoney had got its act together after the verification process fiasco but I seriously am starting to question this company and it’s communication style.
  • GoldNRollGoldNRoll Posts: 233 Bronze ✭✭✭
    GM updated the the article 2 days ago but it doesn't explain why.



    Not having a good reason for any inconvenient is THE MOST disturbing experience for any customer of any company in the world.
  • GoldNRollGoldNRoll Posts: 233 Bronze ✭✭✭
    GM didn't removed (yet) the other payment methods from the article, they still mention "a variety of funding options". Plus they mention that all other methods are "currently" unavailable. These combined suggest that they don't know if the problem is only temporary or not.
  • JayJayJayJay Posts: 26 Tin ✭
    I was told they are updating their internal payment processing system and it will take at least 2 weeks.
  • HelmaxHelmax Posts: 2 Tin ✭
    I am having the same problem. They still took a recurring payment but did not credit the balance. No proper updates. Something is definitely fishy!
  • HelmaxHelmax Posts: 2 Tin ✭
    Maybe just servers down and some time needed for maintenance?
  • RegulatorRegulator Posts: 21 Copper ✭✭
    If the payment system is going to take two weeks to update then they should make a public statement. Wire transfers suck, the whole point of going digital was to avoid old bank system BS like wires.

    Roy if you read this make a formal statement, we are big boys.
  • cruzzado12cruzzado12 Posts: 5 Tin ✭
    Yes...So disappointed.... 0 communication... 0 interest or cares in Clients and investors.. they just do whatever they want without any notification
  • fragnetfragnet Posts: 9 Tin ✭
    They have to start a blog or a newsletter to give the clients importend informations about the platform and about further projects. The current situation is so disappointing for us!
  • paulraymondpaulraymond Posts: 7 Tin ✭
    I really hope they resolve this issue, I don't know what I'd do without GM..
    I have complete trust in this company but was a bit surprised that there wasn't any formal announcement.
    Having said this, I really do hope this gets resolved soon and it's not an indication of a much larger issue.
  • nienie Posts: 162 Bronze ✭✭✭
    I have contacted the team of GM and they sad that "some funding methods are currently not available to some clients". From my perspective, this should be fixed within the next weeks.
  • GoldNRollGoldNRoll Posts: 233 Bronze ✭✭✭
    @nie Thank you for sharing!
  • Ebomb71Ebomb71 Posts: 15 Tin ✭
    edited November 23
    "Some funding methods are currently not available to some clients". That is just the mother of all vague and elusive statements. Why can't they be more transparent about what is going on? Not a good sign!
  • paulraymondpaulraymond Posts: 7 Tin ✭
    Thank you @GoldNRoll and Everyone.. This is what I got back in an email.. I really hope this gets resolved..


  • RocketDogRocketDog Posts: 823 Silver ✭✭✭✭
    Thank you for sharing @PaulRaymond.
    My guess is that the banks are screwing with Goldmoney, through regulators -- which is how they do a lot of their dirty work -- and trying to prevent Goldmoney from providing us a means to easily bail out of fiat and into gold/silver. Also to prevent Goldmoney to provide a way for us to exchange gold digitally, because it presents a serious risk to their way of business and their way of fleecing us through intentional inflation of fiat currency. If Goldmoney is reduced to an online storage system, their services will be of much reduced value to the public and will also offer extreme transparency for governments to tax us on the inflation of their fiat currency as it compares to gold. This has to be a regulatory thing, not a technology thing because they already had these technologies in place, and they have been removed one by one. I am sure it would not be to Goldmoney's benefit to admit it at this time. As this sort of news would probably hit the stock hard (and it hasn't a long way to go down anymore).
    If this were a private company, I bet Goldmoney could go public with that sort of news, and rally the citizens against the banks. But we'll all be against the banks soon enough I suppose (during the next crash). I hope Goldmoney is working on its technology behind the scenes, ready to launch during the anarchy. But I think I am going to divest from Goldmoney for now, and hope that they can recover.
  • GoldNRollGoldNRoll Posts: 233 Bronze ✭✭✭
    @paulraymond Thank you for sharing the information with us, it confirms what many of us suspected.

    @RocketDog I feel the same, and I also hope that GM builds a digital online bank in the back-end. When the moment will come, they have to be prepared.
  • TheSwedeTheSwede Posts: 17 Tin ✭
    It might be Mene that has to pull Goldmoney forward.
  • paulraymondpaulraymond Posts: 7 Tin ✭
    @GoldNRoll @RocketDog

    I really hope they resolve this and fast, the fact that their silent on it isn't good either. I mean, what does "reviewing our payment options mean"?
    RocketDog said:

    Thank you for sharing @PaulRaymond.
    My guess is that the banks are screwing with Goldmoney, through regulators -- which is how they do a lot of their dirty work -- and trying to prevent Goldmoney from providing us a means to easily bail out of fiat and into gold/silver. Also to prevent Goldmoney to provide a way for us to exchange gold digitally, because it presents a serious risk to their way of business and their way of fleecing us through intentional inflation of fiat currency. If Goldmoney is reduced to an online storage system, their services will be of much reduced value to the public and will also offer extreme transparency for governments to tax us on the inflation of their fiat currency as it compares to gold. This has to be a regulatory thing, not a technology thing because they already had these technologies in place, and they have been removed one by one. I am sure it would not be to Goldmoney's benefit to admit it at this time. As this sort of news would probably hit the stock hard (and it hasn't a long way to go down anymore).
    If this were a private company, I bet Goldmoney could go public with that sort of news, and rally the citizens against the banks. But we'll all be against the banks soon enough I suppose (during the next crash). I hope Goldmoney is working on its technology behind the scenes, ready to launch during the anarchy. But I think I am going to divest from Goldmoney for now, and hope that they can recover.

  • RegulatorRegulator Posts: 21 Copper ✭✭
    The good news is, I really don't hold enough physical precious metals. So I have used this opportunity to buy silver maples and gold PAMP bars from my local retailer. The rates he offers are way better than Schiff, which is sad that Schiff can't compete with brick and mortar.... PAMP veriscan system is also amazing, and the new laser etching that the CAD mint does is awesome. (just use a jewelers loop to verify the maple)
  • paulraymondpaulraymond Posts: 7 Tin ✭
    @RocketDog @GoldNRoll @Ebomb71 @nie @cruzzado12

    So, I have a friend in Italy that is also a Goldmoney customer and it works perfectly for him. No, issues whatsoever with funding his account.
  • GoldNRollGoldNRoll Posts: 233 Bronze ✭✭✭
    @paulraymond
    As @nie mentioned, "some funding methods are currently not available to some clients".

    But I'm happy that, despite of not being able to fund by debit card, I can use wire transfer with TransferWise. I use TransferWise for my business and it works great! :)


  • saanichtoniansaanichtonian Posts: 10 Tin ✭
    RocketDog said:

    @RocketDog
    ... But I think I am going to divest from Goldmoney for now, and hope that they can recover.

    I agree with the sentiment.
    I opened an account with Bitgold in 2015, as it had what I thought was tremendous promise. Storage of savings in gold, funding with CC, and the promise of a prepaid card to spend it., all outside the banking system.
    Since the reverse buyout of GoldMoney, all that has disappeared. I had a personal account, which has been rendered useless with the last message of 'Please note that you are no longer able to purchase additional gold through your Goldmoney Personal or Business accounts'. Communication of plans and intentions, present and future are non existent.
    I have been removing PMs from the account for the last two years, and as of last week I have emptied the last of the cash. BitGold was a good idea while it lasted. GoldMoney, not so much. I realize that regulatory rules might be the cause, but those matter little to the end user (me and you).
    I hope they get there &#%t together one day, and I'll keep an eye out for that to happen. Until then...bye.
  • saanichtoniansaanichtonian Posts: 10 Tin ✭
    RocketDog said:

    @RocketDog
    ... But I think I am going to divest from Goldmoney for now, and hope that they can recover.

    I agree with the sentiment.
    I opened an account with Bitgold in 2015, as it had what I thought was tremendous promise. Storage of savings in gold for no cost, funding with CC, and the promise of a prepaid card to spend it., all outside the banking system.
    Since the reverse buyout of GoldMoney, all that has disappeared. I had a personal account, which has been rendered useless with the last message of 'Please note that you are no longer able to purchase additional gold through your Goldmoney Personal or Business accounts'. Communication of plans and intentions, present and future are non existent.
    I have been removing PMs from the account for the last two years, and as of last week I have emptied the last of the cash. BitGold was a good idea while it lasted. GoldMoney, not so much. I realize that regulatory rules might be the cause, but those matter little to the end user (me and you).
    I hope they get there &#%t together one day, and I'll keep an eye out for that to happen. Until then...bye.
  • NavigatorNavigator Posts: 1 Tin ✭
    Darn, had to sell my Goldmoney shares to protect a little of my profits. I am sure it is the US Regulators who are part of the Bankster Industrial Complex that are screwing with Goldmoney. I hope I do not have to drive to the vault to get my gold/silver, but that is a possibility.
  • RocketDogRocketDog Posts: 823 Silver ✭✭✭✭
    @Navigator sorry to hear you had to sell. I am already below my dollar cost average, and may just ride it out in hopes that we recover somehow.
    No doubt we are in a regulation strangulation.
  • paulraymondpaulraymond Posts: 7 Tin ✭
    @GoldNRoll @RocketDog @Navigator @saanichtonian @Regulator

    Any news on this? it's been over 2 weeks now..
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