Why have I had no response from GM as to why and when they wil release my account "verification"

I have had an account with GM since 2008. On Sunday the 23rd, 2019 I tried to sell a very small amount of metal from my holding to withdraw a very small amount of cash and got this message, "Some information about your Holding needs to be confirmed before the proceeds of any sale of metal can be withdrawn. Be sure to contact Relationship Management to discuss this matter further." I then tried to ask why and when they would be finished with this process but have had no responses back from them outside of one which provided no answer to either question but only stated that they would let me know when they were finished with this "verification"process. Why should my account need further verification after 11 years? There are no records of my messages sent to them with my questions. I have never been treated like this before. Does anyone have anything to say? --Thank you, unclewiggly


  • fragnetfragnet Posts: 9 Tin ✭
    edited November 26
    Did you never verified your holding? Normaly you have to verfiy in a cycle of 3 or 4 years and for this purpose you recieved a email with the verify request from goldmoney. Perhaps you had ignore this mail?
    This is my last the verfication mail:

    Dear Mr fragnet,
    Following our periodic client review, in accordance with local regulations to keep our client documentation up to date. I would be grateful if you could kindly provide the following:
    some questions about me.

    Once we have received the above information we will be able to proceed with the verification process.

  • GoldNRollGoldNRoll Posts: 233 Bronze ✭✭✭
    @unclewiggly I opened a holding late 2017 and this year I had the same problem as you have. I contacted the support and they where quick to solve my issue. I had to re-verify the holding.

    The problem is generated by regulations, not by GM. I'm sorry that Goldmoney is not more open to the clients and the community. GM should share with us all the legislative hell they are going through. Instead of being frustrated, we the clients could be supportive and even help. I start to question if even sharing with us is forbidden by law...
  • RocketDogRocketDog Posts: 823 Silver ✭✭✭✭
    @GoldNRoll excellent idea! If each of these requests for information came with a reference to what regulations were causing the request then we would really be able to see the net in which we are trapped. If it is not illegal for them to do that, then they should. In addition, the regulations that are causing our functionality to disappear should also be laid bare.
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