Goldmoney

So apparently with Goldmoney what you see is not what you get… I did sale the spot price was $65.25, the price they gave me is $62. Freaking 5% less than spot price, will never use them again, outrageous fees.

I have maintained a goldmoney account for more than a decade with a six figure balance. I first noticed a flood of poor reviews about a year ago and made a five figure withdrawal. I did have to jump through some KYC hoops at that time which was mildly annoying and took a few days, but - once that process was completed - the withdrawal went smoothly. Upon seeing the latest flood of bad reviews I just made another five figure withdrawal. The money was in my account the next day without any problems at all.

Not only do they charge insanely high fees (I invested an amount with them as a test and they took 43% PER YEAR in fees) they also make it impossible to withdraw the remaining amount due to fees on transfer.
The change in their fee policy was not communicated or accepted and their customer service is incredibly unhelpful, even their replies on here are a joke it's the same copy paste response.

Invest your money elsewhere, these thieves will just take it.

I've have had an account with Goldmoney for 3 years, no problem putting money in and withdrawing when I needed to. Just recently I was seeking to purchase some more gold, however, I received this message:"Please note that you are no longer able to purchase additional gold through your Goldmoney Personal or Business accounts." So why can't I purchase anymore gold?

In 2008, I set up gold holding with them, at the time worth $10,000. Their material said they kept the gold in a vault and I never had to do anything until I needed to. But when 15 years later I tried to access my holding on-line they informed me that they closed my holding due to inactivity, wiping it out with a inactivity fee in April 2022. They claim they sent notifications of their policy change. I never received anything.

They just stole my money. Based on current gold prices, they stole over $26,000.

I opened my account some months ago, but I discovered they were charging me $10 a month on my cash balance. I never bought metals, but when I tried to withdraw my funds, they told me I could only withdraw profits from metals investments. In short, they won't give me my money back.

I have been with Gold Money for over 10 years and have found their operation to be top notch. I see a number of bad reviews but it looks to me like mostly inexperienced, whiny small, short termers that this type of outfit is not geared toward. I recommend they get a passbook savings account at a local bank. For seasoned long term investors that want some "real money" internationally to put aside Goldmoney's the real deal. They have been responsive in a reasonable time frame when contacted and appear to remain compliant with the increasingly onerous financial regulations that nearly appear as de facto capital controls that have become de rigor in this new world disorder. The case for precious metals is better than ever and Golmoney is a wise choice for an allocation by savvy investors.
MC

My financial advisor recommended Goldmoney and what a rip off! They charge exorbitant fees and have horrible customer service.stay away and good riddance!

When many began GM accounts around 2010 it was more simple with lower fees. It was perfect for travelers who could "set it and forget it". At some point that change, seems like around 2020. Fees got ridculous with notification and they began demanding more documents that those traveler types don't have.

You will be lucky if you can ever get your money back from this place. They demand reverification of documents that are near impossible to get for the types of folks that GM was originally marketed to.

At this point it seems like it might be a legit ponzi.

I put in £20 to test their site to see if i wanted to invest larger amounts, I did this with crypto and stocks too.
Within a few days my money was halved, when I asked why they said that they have a $10 a month storage fee, so i said that is too much and I need to withdraw my money. They charged me 1% to sell my holdings, but I could not draw out my remaining £11.36 because they charge $25 to do a wire transfer.
It would be a lot cheaper to buy gold from a reputable broker and pay for a safety deposit box. It is only £20 but if I put in £2000, I would be down $120 after a year, if I kept in there long term as most people buying gold would do, my gold would have evaporated after some year with no appreciation after fees.

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.

They are inaccessible. They only respond with pre-printed emails. Their support is awful. So far, I have not been able to get my money back and liquidate my account. They don't answer the phone. You can only leave a message. I have been trying to liquidate my account for 3 weeks, (filled in all the forms online. I even got a response that they got the message and to give them a few days). Now I get a new email saying I didn't request redemption, and to read their FAQ. What a CROCK!

I have been trying to withdraw my funds for over a year and all i get are canned responses. I have a personal account and i cant get verified on the holding account.

2018 i was using the account with no issues buying gold and making withdrawals. I just want to speak to someone on the telephone to find out how i can get my money.

2021 update--- finally got it sorted and able to withdraw, Mariana at customer care was excellent, very different to my earlier experiences.

Opened up an account and got verified to invest, then a few months later they asked me to send in some notarized paperwork to go through some other verification process which I wasted hundreds of dollars on to just get denied.

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 called today to close my account, however I was informed that the account has now been cleared. This was a scary wake-up call. I have to decide whether to leave the metal there or move it. I do not yet know. Changing my review to three stars from one...

Fees ate through the entire value in 3 yrs, then they closed my account without notification. Lost over $5k USD. Stay away.

I have been a member for10 years. I came across quite a few reviews on how bad Goldmoney was because they would not give you your money, you could not withdraw, etc. The reviews say that they ask you for a ridiculous amount of forms which is a ploy so that they can keep your money. I started to get worried because I have a good chunk of my savings there. So I went and for the first time ever sold some gold to try it out. They asked me for 1 document that had my current address on it. I sent it, it took two days and I received an email that I was now able to withdraw my funds. This is the KYC I think it's called that everyone was complaining about. Really? I seriously do not understand what all the complaining is about. It was as simple and quick as can be. As for the fees for buying and selling, I think they are great. I estimated that all in they charge about 5-6% premium for silver. Try finding that premium anywhere else. As I speak, silver spot is around $19 and silver eagles are at $33 at any online store. Maples are at $27. That is around 60 to 70% in premiums! There are always haters. I am very happy with Goldmoney and will continue to use them and recommend them.

After almost three weeks of wrangling over two continents and three nations, discovering hidden phone numbers, leaving messages that were never returned, I at last found someone willing to help me get my money out of Goldmoney. But that isn't the secret of liquidity with GM. The secret is this: If you ask to withdraw your investment when the spot gold price is high (like when I asked, around 18 April), they will delay it until the spot price bottoms out at $100 less an ounce, as it did last week. Good for them, bad for you.

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.

As of today, 20-01-2020, my account page was made un-accesssible.
Although I received part of my credit, there is still an amount due.
From the first amount there was 1. A transfer fee deducted + 2. "a fee by an other bank or financial" (not my bank). So I was heavily charged for leaving this "Pirate ship".
Somehow it reminds me of Barry Dyke's book: Pirates of Manhattan. These ones are from Canada.
Very unsettling. -end of update-

Since 3 December I have been waiting for answers to questions about the new charges that are to take effect from 2020. After asking several times, no reply to date. It seems as if we only want to look after wealthy customers here? Until a few months ago, answers were usually given on the same day. Not only the fee model seems to have changed here. I am disappointed and not satisfied.

Great service provides a important service to society, every time I look at my account number go up, this goldbull run just beginning I think. GoldMoney gets you on the train and safely to your destination!