Has anyone ever had their Goldmoney/Entrust IRA account locked? I have had an IRA and an individual account with GM for 15 years. I received no notification that my accounts were locked and only found out when I tried to log on, which isn't often. The individual account has probably been locked for a few years. Logging on to my individual account now only allows access to exchange emails with the GM reps and I have exchanged dozens with them over the last few years, but gives you no access to your funds. They say the new KYC laws require me to prove who I am. Their method for doing this is to use Netverify/Jumio to take a photo of me holding up my driver's license. I tried this on 2 different computers and operating systems and their program failed to recognize my camera, even though I made sure it could take a photo of me before I started.

Many, if not most security experts advise against putting any biometric data files online, and I now tend to believe that is good advice. Norton has a good explanation on "Are Biometrics Safe?" I have spoken with GM reps by phone several times and they offered a postal solution of mailing in a notarized copy of your driver's license. After a few trips to the Town Clerk's office I was told NY State does NOT notarize driver's licenses. Their other postal options are much more onerous and a bit bizarre, such as your dentist vouching for you! And whomever does this, dentist, lawyer, or dog-catcher, must sign a form and provide his/her license numbers and other information to prove who they are.

In my discussions with GM reps I pointed out that the bank account I funded the IRA and the individual account from, is the same bank account they have on record to send funds to if I decide to sell precious metals. It is the same bank account I have had for over 50 years. The problems with GM seem to have started when they were sold to a Canadian outfit.

I offered to drive to Toronto and make a personal appearance at their office with 2 photo identifications. They said the Toronto office is not open to the public and that their business was now totally online. It appears GM is more interested in your biometric data than knowing who you are.

At that point I began to worry about my Goldmoney/Entrust IRA and when I logged on to my Entrust account, it showed no holdings in the account. I contacted Entrust by phone and the rep said he had not seen anything like that before. I asked him how I would be able to take an RMD. After a few hours the account was opened up again. It's not an account you can trade on, it just gives you your balance in the IRA but also gives your annual RMD amount that is required by US law. You must contact an Entrust rep to trade. Even though I had no desire to sell any precious metals I decided to test it. I have other IRAs with other outfits and have always taken my RMDs from those accounts, rather than selling Gold/Silver. I contacted an Entrust rep to take my RMD. I thought he seemed a little funny as he suggested I log into my Goldmoney IRA at the GM website. I reminded him that Entrust has been my administrator for the past 15 years and after 2 weeks the sale was completed and transferred to my bank account. I credit Entrust with getting this account back so I could take my RMD. Thank you, Entrust!

I immediately logged in to my individual account and asked the GM rep why they had unlocked my Goldmoney/Entrust IRA account for the sale. I never received an answer on that question. I asked how Goldmoney verifies that Jumio deletes the biometric files that they collect. I received no answer on that either.

I have reported these two accounts to the IRS and Treasury, via FBAR, every year since I have had them. I have offered to send GM copies of my annual reports. They do not seem interested. Perhaps another question I should have asked them, since I have no control over my individual account is, "Do I still need to report it to the US Treasury?" FINCEN requires: "Signature authority is the authority of an individual (alone or in conjunction with another individual) to control the disposition of assets held in a foreign financial account by direct communication (whether in writing or otherwise) to the bank or other financial institution that maintains the financial account." I suspect I do still need to report them, even though it seems I now have no control over the account.

There is a reason people used to bury gold in their back yards.

I started posting the following review around March/April 2019 on Trustpilot dot com.

I placed funds with GM from Dec. 2008 to around 2010/2011. They took my funds with some requirements, as I recall, so proof of funds had already been done. I gave them whatever documents they asked for. They have taken sales fees for all the bullion that I bought and sold, plus THOUSANDS OF DOLLARS OF STORAGE FEES/year during more than 10 years (so I am talking about a lot of money deposited here).

Several weeks ago, I needed some funds, so I decided to fill an automated transfer form. Unfortunately, my country was not on the list, so I requested that someone do a manual wire transfer. They answered that they could do this, BUT first I needed to do a proof of funds! Can you believe this? A second proof of funds after more than 10 years of having funds/bullion with them! This is what an ambush feels like!

I have been giving them documents as I find and translate them (they had to authorize the translator), from stuff that happened between 12 and 15 years ago, but this is RIDICULOUS. Meanwhile, my funds are frozen and I had to go somewhere else to get some funds. So what is the point of having money here, if I cannot access it when I need it?
DO NOT give them any of your funds, because you might never get them back (I am being kind here),
THESE PEOPLE AT GOLDMONEY ARE NOT YOUR FRIENDS, nor your trusted custodian of precious metals. They are behaving more and more like an enemy and like a rogue organization.

UPDATE 1
Still unable to withdraw any funds after many weeks. Now I finally realize why the majority of these storage companies pose THIRD PARTY RISK. Keep physical precious metals only in your possession, or in a company with minimal or no complaints at all. IF YOU DO NOT HOLD IT, YOU DO NOT OWN IT.

UPDATE 2
Monday night (April 29th), I finally sent them the last document that proves the origin of my funds. They said they would reply by Wed. May 1st. But now that they have read this review (which I am sure they did not like), they are really taking their time (coincidence/reprisal?). I am updating this Saturday, July 27th. AROUND THREE MONTHS WITHOUT A REPLY/CONFIRMATION FROM THEM! So I have been at this for more than four months, at least...

UPDATE 3
Waiting for the withdrawal of my BTC/ETH since May 23rd. They said it would take 5 days, maybe a little longer. Withdrawal of cryptocurrencies takes minutes/hours. I am starting to believe that they do not have the BTC/ETH in their possesion. Most exchanges do not have all of the cryptocurrencies that they trade in their possession, however, GM is not an exchange. This company should be investigated for FRAUD, as they charge fees for holding the cryptocurrencies.

And, if they have the cryptos, they are just milking us customers for several more months of unnecessary storage fees.

UPDATE 4
After waiting for a reply since May 1st, I decided this past Sunday, June 16th, to send them an e-mail (through their website) complaining about their lack of an answer/resolution. MORE THAN SIX weeks later, NO REPLY/NOTHING.

UPDATE 5
Today, June12th, I received an email from them stating that I have a balance of cryptocurrencies that I have to withdraw, as they are exiting the crypto business. I have just replied saying that I had already requested the withdrawal of those cryptocurrencies on MAY 23rd! TWENTY-FOUR DAYS LATER, NO REPLY FROM THEM.

UPDATE 6
I formally complained to the CIFO (Ombudsman) on June 30th, so finally I received an email from GM this past Tuesday, July 6th, advising me than our relationship is being terminated. They say that they will return my funds. As of now, I hope we initiate the process of moving my silver to another company. I STILL NEED TO SEE if they will give me my cryptocurrencies, and if I will be able to transfer my cash holdings to my country.

UPDATE 7
Today, July 12th, after almost three months since I requested the withdrawal, I finally received my cryptocurrencies.

Yesterday, August 26th, all my cash holdings finally arrived in my country.

UPDATE 8
Yesterday, Wed. Sept. 4, without any previous notice, I received an e-mail notifying me that my Holding had been closed. Access to my account is not possible any more. I had been downloading, every few days, more than 10 years of monthly statements, but had not finished.

I wrote to them requesting the missing statements, and today, Sept. 11, my holding was reinstated, so that I can download the monthly statements that I was missing.

CASE CLOSED. The tile of my review stands.

THIS EXACT SAME REVIEW HAS BEEN REMOVED BY TRUST+PILOT DOT COM FOR VIOLATING THEIR GUIDELINES, SO THEY ARE NOT A RELIABLE SITE TO PLACE A REVIEW.

IF YOU DO NOT BELIEVE ME, LISTEN TO THE FOLLOWING VIDEO AT YOUTUBE RL94QA8iYGA PART 2 (YT Goldcore Tv channel July 3,2019).

My experience with this people is nothing to write home about in 2016 I invested 6k pounds with them and to my surprise my money was stucked with this people I couldn't withdraw neither could I gain access to my account I contacted them several times but won't get no response so
I decided to consult hackprince6atgmaildotcom and trust me it was really worth it I didn't regret my actions because he was able to help me get back over 90% of the money I thought was gone.