What will be the fate of Goldmoney Personal/Business Accounts after launching The Goldmoney Holding?

What will happen to my Goldmoney Personal Account if I am not going to migrate to the new Goldmoney Holding? Are there any possibilities that Goldmoney going to close/end Personal and Business Accounts?
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Answers

  • BigMouseBigMouse Posts: 138 Bronze ✭✭✭
    Not sure. But I will open holding account only after they provide bank transfer funding option. I would not deposit with credit card since 3% fee is charged now.
  • veraxverax Posts: 9 Tin ✭
    It doesn't say anything about being able to store up to 1 kilo without storage charge as we have/had with a network account.
  • RandianZealotRandianZealot Posts: 21 Tin ✭
    Free storage below 1 kilo is being eliminated. If you move your funds to a holding account, you will be charged 0.001% storage fee per month.
  • UvasUvas Posts: 680 Silver ✭✭✭✭
    Yes, all this lack of information is disconcerting. We used to get a roadmap for future changes and planned updates and whatnot. Now we get nothing. One day everything is fine, and the next, BAM!, a whole new system is in place.

    I have been an account holder since the white debit card days, and back then I was really excited about this company. I felt like I was part of something great, a concept who's time has finally come. But now I am like...meh....
  • paddy10tellyspaddy10tellys Posts: 249 Bronze ✭✭✭
    me too @TimK totally agree
  • 123_jazz123_jazz Posts: 1 Tin ✭
    I'm just catching up on things due to a lengthy hospital stay. I must say , this progression is somewhat worrisome . Hmnn
  • ChipperChipper Posts: 17 Tin ✭
    edited July 2017
    Many clients are very satisfied with a service they entered into an agreement with. That is a testimonial to the firm. However, now, all these changes, which for the most part seem of little use to the ordinary client. I do see how a firm "invents" new products or services and offers them to their clients, but I not see how a firm can arbitrarily expect their client base to willingly surrender their satisfaction with an existing quality service for something that has yet demonstrated its value to the client.
  • PinkdogPinkdog Posts: 511 Silver ✭✭✭✭
    I hope a Goldmoney shuts down the Personal platform and forces eveyone onto the Wealth platform. It does not make sense to have two separate platforms.

    I would recommend that Goldmoney first get all the features transferred over to the new platform and offer everyone transferred to the new platform free storage for 24 month. That would help compensate for the additional work required to register for the Wealth account.

    I love Wealth account. It provides a better client experience and the service is great.
  • TexTex Posts: 197 Bronze ✭✭✭
    @pinkdog man, not much of a customer service type guy huh :-) Every customer has a huge value. The better experience they have the bigger value they are. The $ in their account doesn't matter because the word of mouth is more powerful and valuable.

    I would say in my opinion your potential experience with Goldmoney will depend on which country you live in.

    It took me about 4 weeks to get my Holding account up and running. I was getting impatient (I wanted to get it up and running ASAP, I hate waiting) Customer service was awesome and very helpful. I love the feel and look of the holding account however it's not 100% ready and functional like the personal account currently is. I'm still only funding my personal account (every day) but once EFT/ACH (whatever its called) is available on the Holding account I will make the switch over. My advice is take your time and wait before you open / apply for a holding account.
  • PinkdogPinkdog Posts: 511 Silver ✭✭✭✭
    @tex ya I'm not much into customer service. You do make many good points.
  • Marco_1983Marco_1983 Posts: 152 Bronze ✭✭✭
    edited July 2017
    @Pinkdog I agree it doesn't make sense to have two separate accounts.

    However, forcing us onto Holdings also means forcing us to upgrade to Full Holdings, since we cannot transfer the gold we have in our personal account to a Basic Holding. And upgrading to a Full Holding is currently not for everyone. Unless they simplify the Full Holding verification process.
  • Skookum_JimSkookum_Jim Posts: 124 Bronze ✭✭✭
    Uvas said:

    Yes, all this lack of information is disconcerting. We used to get a roadmap for future changes and planned updates and whatnot. Now we get nothing. One day everything is fine, and the next, BAM!, a whole new system is in place.

    I have been an account holder since the white debit card days, and back then I was really excited about this company. I felt like I was part of something great, a concept who's time has finally come. But now I am like...meh....

    Spot on @Uvas i feel exactly the same way. Bitgold is dead and James Turks brainchild Goldmoney lives and prospers. Small fish get eaten by big i guess, nothing new. Hats of to mr Turk.
  • Skookum_JimSkookum_Jim Posts: 124 Bronze ✭✭✭

    @Pinkdog I agree it doesn't make sense to have two separate accounts.

    However, forcing us onto Holdings also means forcing us to upgrade to Full Holdings, since we cannot transfer the gold we have in our personal account to a Basic Holding. And upgrading to a Full Holding is currently not for everyone. Unless they simplify the Full Holding verification process.

    I got the mail the other day and thought to myself "what are they thinking??". It makes me angry just thinking about it.

    I won't move to the new holding until it's fully operational and the verification can be done without fuss. I REFUSE to go to the city center in business hours (when i should be at work) AND pay about 20 euros just to get copies of documents verified by notarius publicus...

    The mail from Goldmoney i got the other day is "in your face", i feel like Goldmoney thinks im stupid and have not realised what "wonderful" stupidity they have been up to the last few weeks?

    Building a company reputation takes years, pulling it all down can be done in minutes. As a shareholder i'm in shock about what happened. As a customer i'm getting more and more irritated.

    Goldmoney has no option but to leave our old accounts be for now, once the transfer can be done without stupidity like notarius publicus, then the merger can be done.
  • TexTex Posts: 197 Bronze ✭✭✭
    @Skookum_Jim Out of curiosity what did the email say?



    I believe @KatyMillington said the faster verification process should be in place by the end of the month.

  • KatyMillingtonKatyMillington Posts: 49 Tin ✭
    We expect to have the faster verification process in place by month end. We accept bank wires and credit/debit cards at the moment with other funding methods following shortly.
  • Skookum_JimSkookum_Jim Posts: 124 Bronze ✭✭✭
    Tex said:

    @Skookum_Jim Out of curiosity what did the email say?


    I believe @KatyMillington said the faster verification process should be in place by the end of the month.

    Someting along the lines of "We noticed you havn't yet applied for our new fantastic holding, here is step by step instructions how to do it".

    It was very observant of goldmoney to notice this, they didn't bother thinking that there might be good reason for this fact and that the need for what not is entirely caused by goldmoney in the first place? I have verified my account twice in less than a year and didn't ask for this "upgrade" ( - in reality a downgrade for users like me) and trouble hence i won't apply until i have to.

    Yes, Katy is doing a fantastic job! And of course i will apply in due time, probably will be forced to at some point anyhow otherwise.



  • PinkdogPinkdog Posts: 511 Silver ✭✭✭✭
    @Skookum_Jim I will be first to admit, it does take some time and effort to set up the Goldmoney Fully Verified Wealth Account, but I'm glad I did. I now own silver also in my acccount. I love the fact I can hold different currencies and transfer Money to and from 5 different bank accounts. It really comes in handy when traveling. The new web site feels like an online bank account and will intill confidenc in new users. I will also say the customer service is great. No more long waits, just email or pick up the phone.
  • Skookum_JimSkookum_Jim Posts: 124 Bronze ✭✭✭
    I'm glad your satisfied @Pinkdog !

    We have different views, simple as that. I have a couple of hundred Oz physical silver, it wouldn't be cost effective to have that in a vault with all the costs surronding it. I want to save gold and gold only long term - the account i have now is *perfect* for that and i see nothing that would make me want to go to the new holding.

    Support? Well, the forums seem to do a good enough job? When i travel i mainly use my revolutcard, it beats all other cards i have hands down.

    The application has to be simplified, the amount of new user signups now is nothing to write home about,used to be 2000 a day now down to 50 or 60.
  • KatyMillingtonKatyMillington Posts: 49 Tin ✭
    @Pinkdog I'm so glad you're liking your new Holding and our amazing team of Relationship Managers!
  • TexTex Posts: 197 Bronze ✭✭✭
    @Skookum_Jim So there wasn't a deadline to switch over, that's good. I would stay right where you are and continue to add to your gold savings in your personal until the holding account has the same funding options and quicker setup.

    I agree with @Pinkdog,the look, feel and customer service with the holding account is far superior to the personal account.

    @KatyMillington If I purchase gold in my personal account and then transfer it to my holding account, will the transaction fees in my personal account count towards my storage credits in my holding account?











  • Marco_1983Marco_1983 Posts: 152 Bronze ✭✭✭
    "I REFUSE to go to the city center in business hours (when i should be at work) AND pay about 20 euros just to get copies of documents verified by notarius publicus..."

    @Skookum_Jim This is one of the main reasons I did not upgrade to a Full Holding, along with all the various forms to fill out.

    However I did apply for the Basic Holding in a relatively short time, so if you still haven't done that, you may do that in the meanwhile, specially if you want to buy silver.
    When the faster verification process will be implemented, we will finally upgrade to Full Holdings, and we will be able to transfer the gold from our Personal accounts to our Holdings, along with other great features.

    @KatyMillington Glad to know we will have the faster verification process by the end of the month. Thanks!
  • PinkdogPinkdog Posts: 511 Silver ✭✭✭✭
    @KatyMillington thank you for contributing so much to the community. I really enjoy your comments and your tweets. You Are doing an amazing job.
  • GoldmattersGoldmatters Posts: 4,015 Admin
  • shonshonshonshon Posts: 3 Tin ✭
    I dont agree with the idea of having to pay storage on anything under a kilo. the new instructions to opening a new holding is far from informative and user friendly. I just started the process of opening this new holding and Im already done with the whole experience. Just going to deposit into my original holding and leave it at that.
  • RobikRobik Posts: 11 Tin ✭
    @Skookum_Jim Hey, that Revolut thing is amazing *looking at their web site*. Thanks for mentioning it.
  • GumtooGumtoo Posts: 8 Tin ✭
    Low fees and no storage costs on amounts under a kilo were key to opening an account. If storage is now going to be charged and 3% fee on deposits from credit cards, then goodbye goldmoney!
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