Goldmoney

It seems as if they indirectly cater to six figure plus transactions/clientele. Because, I deposited $100 just to test the waters with plans of being a long term investor once that had gained my trust. However, I had to jump through innumerable hoops in an attempt to verify that I sent the funds, even though my bank showed that they had received them several days prior to me contacting customer service. Then, when I had finally reached the final verification stage, my funds were "magically" rejected with no reason as to why.

I reached out to customer service and was told that they would contact the transfer department to see what happened. But they promptly ghosted me.

I did a quick search for the top/best precious metals brokers, and they didn't make any of the lists. From this experience, I can see exactly why. I'm thankful I dodged that bullet. Going to be buying from a reputable dealer, and storing my metals in a safety deposit box.

Everything was fine for years but that changed a few months ago. GoldMoney has a new policy of freezing accounts every time they request information. It could be anything such as address confirmation or phone number or even source of funds info from many years ago. When I became tired of all the hassles and tried to close my account I was informed of another policy. I was not allowed to withdraw my money. I was shocked. I thought my money would be safe at GoldMoney but now I'm afraid because they are freezing so many accounts. Hopefully someone can help me get my money back.

After one month and several attempts, I have not managed to receive any of the requested information by Goldmoney. I wonder if they are still alive. I have been working for 30 years in the industry and this company is the last place on earth where I would put my savings.

Getting money out is very hard unless you use an account they approve they charge way to high of fees, I still haven't been able to cash out, its a rip off for the most part I would avoid this company for sure, my bank rejected the transfer from them, I asked them why and they said they where not trusted. Basically there are better places to invest or put your money with less fees and easier to get your money out. They won't write you a check or use PayPal etc...

Try to withdraw fund and see what happen... every reply is 2 days late very little incentives to keep the existing client. Story is I open a account to buy gold and at the time it was very convenient. I withdraw some to fund my home purchase and have not touch the remainder about $50 CAD. I thought I could come back in the future, now they are charging me $10 storage fee and making the withdraw impossible and they just don't care. They effectively default on my deposit.

Yes, I should have read the Terms and Conditions in more detail. I did read them. I don't recall seeing that " you can not get a penny of your money back, that was not invested in metal first." That means, if you leave any extra money in your account, and that extra money is not invested in metal -- it becomes the property of GoldMoney. They should say that up front, but then who would give them their money?

The help staff makes the appearances of an effort.

Overall, if this was a solid, customer-oriented company, they would be FAR more transparent and concilatory to their customers.

I am revising my review since the company changed my relationship manager, everything went more smoothly. There was still the initial issue of requesting that I go through Jersey Probate which in the end turns out was not necessary. However, even though there was confusion about what documents were needed (they seemed to add on more after I sent the original batch) once my relationship manager changed I finally got great service. The new manager, Peter Duncan responded very quickly to all my concerns and emails professionally. They even arranged to reimburse me for the unnecessary legal fees as a result of hiring a Jersey probate lawyer. And they covered all the costs of the additional DHL/Fedex packages required due to additional paperwork needed. I would recommend getting a very clear list in writing of what the requirements are to remove funds (before buying gold) and following that to a "T". Also if you are not having good response from your relationship manager ask to work with someone else. I don't know if we got lucky with Peter, or unlucky with the previous manager, but now everything has been sorted out.

- I opened an account for bullion investment with https://www.goldmoney.com/.
- I wired ~15K CAD last year from my scotiabank account.
- I purchased bullion (which is kept in their vaults)
- Due to changing their storage fees system (they raised the prices) had to sell Gold at a loss and requested my money back.
- They claimed they sent a wire transfer since January 3rd 2020 and "it arrived at my bank on January 15th" as they wrote in an email to me. All banks stated no wire transfer took this long in their history!
- I contacted my bank and launched an investigation and the bank said nothing came in!

They still insist they are tracing the transfer, there is a chance they are honest, although after reading the reviews here, I doubt it. For sure I'll take it to the court soon.

Yes they do reply to your messages and inquiries, but with no value! I'll post an update if things got better or worse.

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Update:
The Transfer arrived at my account finally by the end of January...
I can't say I was scammed, but I can't say it was smooth either. May be the banks/governments are the ones holding the transfer until they verify the money is "Clean", may be not. No one knows.

But through my experience with GM, it wasn't nice to change the storage fees in the middle of my investment, I had to sell at a loss...
Overall, I won't invest in online bullion again,,... unless the bullion/money is not with you, it is not yours...

I got aboard from the beginning including a decent share purchase. A wonderful story and on the face of it, very impressive business plan and people. It has been a huge disappointment from every aspect. The administration aspect to account opening was a nightmare on account of zero customer support. My gold card was cancelled for legislative reasons? But customer service was pathetic in its explanation including that it was temporary. Ive given up on that. I purchased bit coin only to be sold out at the very bottom. Again hopeless communication. The stock price reflects the appalling service at least that was my experience. Further, despite the marketing, the market is giving up on Goldcorp.

Goldmoney's fee structure is designed for the active trader only. If you do not trade sufficiently every month, before long, your holdings will disappear in no time.The worst part is they do not adequately inform you of this at the time you purchase your first metals, and do not directly inform you as they drain away your metals in order to pay the fees. The lack of transparency far outweighs any the benefits of globally dispersed holdings. Stick to working with a trusted financial institution

Gold money will fee you to death. They charge for putting money in and holding it and getting it out again. All must be done by wire. Ex: 10.00 month minimum storage fee. 20.00 transfer fee to your account. Only wire transfer can fund your account. No credit cards or paypal. I put 400 dollars in there to get started then they started the 10 dollar a month fee and the transfer fee and removed all funding options. I was wanting to put a couple thousand in there. I decided to withdrawal what was left in 4 months time and came out with 220 after silver exceeded its original cost per ounce. Another words they will fee you to death. They have a lousy setup for small users under 200 ounces as you cannot get the silver you bought. I found out after the fact. The fees just started after I bought so... no good for little guy. I recommend goldsilver.com they are fair. Good luck.

I had an account with a small balance for a number of years and then found they lock the account if not used and also will not allow withdrawal without a face scan (something which is impossible for me personally) They dont reply to the internal messaging system and change the rules of the account whenever they feel like it. Still fighting to close my account. Just check who the major shareholder is and things will start to make sense.

I opened an account around 2004 and was very happy with the service. Goldmoney was then bought but a Canadian outfit a few years ago and it's not been the same since. I was locked out of my account 9 months ago with no notification, as I had to provide proof of identity. This happened again very recently. Not sure why, as I'd been a client for nearly 16 years. Whilst I was able to make a withdrawal, that, and the increasing fees, made me decide to close my account and go elsewhere. Being locked out of an account even for a few days made me very distrustful of them, which is a real shame as the service they provide ought to be made widely accessible to all.

Honestly dont recommend using this company and wasting your time. This is a scam and goldmoney is all about blocking your accounts after you spend days trying to get reach them via their customer service. Once you put the money in the account they make it almost impossible to do business with this company. If you enjoy not having to hit you head on the wall don't recommend this company