Goldmoney.com Reviews 

Very eager to accept your deposit but, any withdrawals are met with the most stringent requirement to fulfill any possible AML requirements. Closing my account was the only solution and even then the hoops were challenging to get the remaining balance back. Still waiting!

I've been a customer of Goldmoney now for nearly a decade. There simply isn't any competition for the gold storage fees. They're also publicly traded and have a positive reputation. As we've seen recently, you can't trust just anyone without your money. Goldmoney is truly one of the companies you can.

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.

Tip for consumers:
THIEVES STAY AWAY DO NOT USE

Goldmoney is not a crypto currency platform. It's not a trading platform for high frequency traders. It is a financial institution that can be trusted for long-term wealth preservation. We have been using the service for over a decade and have done very well. I withdrew funds twice with no issues at all. Once to payoff the mortgage on my daughter's house which was a significant amount and was credited to our UK bank account within 48 hours of selling the metal.

A few months ago I wired money to my new account at Goldmoney.com. I discovered that they were taking a $10 fee from my balance each month despite the fact that I had never purchased any metals from them. When I tried to withdraw my funds, I was told that I could not! I could only recover profits from any investments I'd made. I can't get my money back!

Excellent customer service focus
Easy to communicate and get help from the team
Solved my problem in no time!

GoldMoney – you are great! If I, in the future, need some buy/sell gold service I will surely return to do the business with Goldmoney. I have sold metal several times when in need for cash. Has worked fine every time. I have used this service since 2012 and been happy about. I have used GoldMoney to buy/sell gold for a few years and overall, my experience has been great. You don't just buy gold with a credit card or cash here, but I belive that you buy also financial stability. I strongly recommend Goldmoney company for anybody who want to start investing in precious metals, as well as saving for future and their goals.
Thank you very much, Goldmoney team, for such a fantastic service!! I have been user of Basic Holding for many years with excellence service and assistance, special thanks to Mr. Peter Duncan and Ankush Bal. All inquiries and concerns are always answered in a timely manner, and the staff is extremely helpful. At the end, I need to say, tha I am really happy of being part of the Goldmoney Family.

16 march I sent a large transfer to credit my account at goldmoney. 2 weeks later my funds have still not been credited to my account. I have been informed by goldmoney agent that they are working on figure it out what has gone wrong with IFX bank and it should take 5-7 business days.
I contacted my bank and they confirmed that the money has arrived at IFX bank without a problem.
Goldmoney responded yesterday to my several previous email saying they are working on it, no ETA.
Be careful sending them money!!!!

Update: Goldmoney still insists it was a problem with IFX payments but is reluctant to provide any proof of communication between them and IFX regarding transfer. FCA is investigating.
Goldmoney has credited the amount to my account but now I can't withdraw it. What a joke!!!!

Good customer service. Highly professional to deal with.

1. Too much red tape, and rules that make no sense. For example, for identifying myself neither my Passport nor my German ID card was accepted, but utility bills and bank statements were, although they are easy to fake.

2. Two-factor authentication does not really exist, and is implemented with texts rather than an authenticator app (state of the art) anyway. Why does it not really exist you may ask? When I realized that I had still my former UK mobile connected to the account but had no access to it anymore because of my relocation from the UK to Germany, I called the help line and asked what to do. The guy was very helpful: he simply switched numbers straight away. Well, then I don't have two-factor-authentification!

3. When I complained about this towards initially the CTO and later, because I did not get any feedback, the CEO twice, I did not get any feedback at all.

4. I tried to get a quote for a physical delivery. After exchanging countless of messages I eventually gave up: no quote was ever provided. The only thing that I learned was that the several times recommended way via Schiff Gold does not deliver to Germany. They knew that I am located in Germany, so why did they recommend Schiff Gold at all?

Too many problems for more than two stars I am afraid.

When i tried to sell and take my funds out they claimed the wire failed . I tried to log in and now my account is suspended. I have had no reply from customer support for days. Id be willing to change my review if this is sorted out but right now it appears they took my money.

Update : I have received correspondence, still awaiting fund transfer

Update: Despite replies to my emails, and the comment below, I still have not received money that i had invested.

update : I finally was able to liquidate through wire transfer. This was after many emails . My original review (1 star) was based on fear of not being able to liquidate , I was havign trouble using the company support, which is all through emails. I did update my review.

Having been a Customer of Goldmoney for over 13 years, but had not done any buisness with them since James Turks Jersey company, I too was alarmed when it was taken over by a Crypto company based in Canada, my fears was so strong, that it stopped me from doing any further trades with them. I also had read so many negative reviews on Trustpilot and this accelerated my fears of doing further buisness with them. I still had a lot of metal on my Holding and recently decided to sell a small amount, just to see if my bank links were still open. I had to jump through a few hoops to satisfy KYC regulations for myself and wife. This was understandable in our view, because we had been away for a long period of time. I have to say that the Relationship Manager I dealt with (Thanks Will), was exceptional and always quick to answer questions, and help us both through the process of Verification. After we had retrieved the Holding, I sold an amount of Metal and received the funds to our bank account in 3 days.
I believe in credit were credit is due, and felt compelled to write this review after all the negative comments I read on here. I think a lot of patience is required to get through the KYC regulations, but I understand that its down to serious Government requirments that Goldmoney HAVE to satisfy. I have read that people seem to think that Goldmoney are a scam outfit, and a ploy to hide behind these regulations just to steal your money, it also was starting to worry me to be honest. I wonder if some of the Relationship managers are actually better than others in dealing with people ?, we personally got a Gem of a guy.
The bottom line is, will we be dealing with them again, and the answer is a definite yes.
Oh Yes and if Roy Sebag (CEO) ever gets to read this, please give Will a pat on the back, your staff are your company, and this guy is a Ruby. Would be nice to get a few kind words from the boss.

You need to contact me as I am unable to contact yourselves after repeated attempts over a few years. My portfolio lost value due to fees charged and since then I have been unable to make any headway in my investment. Please contact me to reply as I have reached out on numerous occasions to no avail. Look forward to hearing from you. Steve

I bought Gold in pounds sterling they changed it to Dollars without converting at exchange rate, I then leave my gold and silver purchases in my account and they closed the Account for no reason, This company is no good Do not invest your hard earned money with them

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 I seem to have no control over the account now.

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

Suggest you find some other precious metals company with which to place your IRA. Goldmoney uses Entrust - which I refer to as UN-trust. Very poor customer service from UN-trust. Screwed up statements, failure to provide notifications of important information, failure to return phone calls, customer service reps are useless. I have complained to Goldmoney, who apparently doesn't care to read the reviews of UN-trust; and certainly is NOT going to change IRA Trustees. When I complained, GM told me to find my own Trustee. Of course they would have to AGREE to use the trustee I chose, which ain't gonna happen. GM must be getting big kickbacks from UN-trust. A really bad blow to GM credibility, but I guess they don't care. Apparently have enough business that they don't need to pay any attention to complaints. Same as with UN-trust. Best thing to do: go somewhere else.

I have just read some of the reviews below. There are Goldmoney user experiencing high spreads on the metals. So I checked, and to my surprise they were correct. Gold has a spread of 4% and silver an eye watering 6%. After 10 years of being with GM, I will be moving my holdings out shortly and will be using either Bullion vault or Kinesis Money.

very poorly managed.. stay away!!

I have been with goldmoney for 11 years.
Initially it was ok.
However, since their migration to Canada my experience with them as a customer has deteriorated dramatically.
Their customer service has become really bad. The latest issue going on for the last 2 months is their reverification process. I understand companies must do this but they actually do not provide me with online verification process even though i repeatedly ask for it on their message system. There is no phone number to call and the 'Relationship manager' keeps giving the same short messages but not providing me with online verification. Absolute joke of a company.

Difficult to do business with this company. It took them 3 months to validate my details and setup my account. It takes them over 2 weeks to validate a single test payment of 100 EUR. This is ridiculous!!! I regret to wait for them for 3 months should have bought from ShiffGold!