Migration Guidelines: The New Goldmoney HoldingJul 13, 2017
The Goldmoney Holding gives you all the benefits of having precious metals-backed savings with the freedom to make payments and purchases globally.
To migrate to one single account, you can fund your Goldmoney Holding for free with your Goldmoney Personal or Business gold balance.
If you own a Holding
Verified Network users can fund their Verified Full Goldmoney Holdings with a vault-to-vault transfer.
- Only Verified Full Holdings are eligible for vault-to-vault transfers.
- The name registered on your Holding must match the name on your Goldmoney Personal/Business account.
If you don’t own a Holding
If you have not yet applied for a Goldmoney Holding, click here to get started.
Watch our How-To Migration Video:
Top 10 Frequently Asked Questions
1. What happens to my gold? Is it physically moving to a different place?
No. We are not removing your gold from one vault and depositing it in another. Your gold remains in the same vault, but is recorded on our new ledger. Once you transfer your gold balance from your Network account to your Holding, you’ll simply have a different login to access your gold along with more features for trading precious metals and currencies. Your ownership of your gold is still the same as it is now, and you are still able to buy, store, spend and send metal the same way you can with your Goldmoney Network account. We require you to reapply so you can unlock access to the new benefits, features, and added security of the Goldmoney Holding.
2. Is it free to transfer my gold to a Holding?
Yes! We want all our users to have access to the best possible platform we can provide. We encourage you to open a Goldmoney Holding, link it to your Network account, and make the transfer with absolutely no fee.
3. Why do I have to switch to a Holding? Was Goldmoney acquired by another company?
No, Goldmoney was not acquired. Goldmoney has always had a business unit formally known as Goldmoney Wealth. We noticed that many of our Goldmoney Personal and Business users were asking for more features and benefits that we already had in place for Goldmoney Wealth clients, so we are migrating all the features of both platforms to one unified Goldmoney Holding where you have access to more!
4. Why am I required to resubmit so much personal information? I am already a verified user…
The Goldmoney Holding has a higher level of KYC (Know Your Customer) and security requirements because it allows for the purchase of all precious metals and nine currencies. We also require the most up-to-date and thorough information about our clients so we can provide the highest level of service without having to revisit these questions should you need to contact our support team for any issues or to make changes to your account.
5. When can I use cryptocurrency to buy gold within my holding. Are there restrictions?
We will be adding this feature very soon.
6. What will happen to my Network account? I am worried I will be forced to transfer everything to the new Holding one day.
Goldmoney Network accounts will remain open and functional for the foreseeable future. You may buy and redeem gold to your bank account or prepaid card, or take physical delivery.
You will not be able to refer new users to sign up for a Goldmoney Personal or Business account as referral codes have been deactivated. You may not request a NEW prepaid card but you may use any existing prepaid card that is already associated with your Goldmoney Network account.
7. What if all my gold is in the PayPal vault? How do I transfer into my Holding?
We have now added the ability to move your gold from the PayPal vault to the Holding vault at Brink’s in London. Although you were not previously able to make this transfer, you may do so now without charge.
8. Will I be able to physically redeem my metal? I liked having the different options the personal account provided for physical delivery.
When you are ready to convert your precious metals balance into coins or bars, simply follow the process from your Goldmoney Holding. Schiff Gold representatives help guide you through the selection and delivery of coins and bars via phone or email.
9. Will Goldmoney Holdings ever offer Gift of Gold? This was one of my favourite features.
We are currently adding Birthday Gold and hope to offer Gift of Gold soon, but we have enabled precious metal payments between Holdings. One step at a time!
10. What do I need to do now? How do I switch to a Holding?
If you already have a Goldmoney Full Verified Holding, follow the steps outline in the above Migration Guideline.
Log into your Goldmoney Network Account > Redeem > Network to Wealth > Wealth Holding Login Credentials > Transfer Your Gold Balance
If you do not have a Goldmoney Holding, apply for one here.
Select Full Service Holding > Complete the forms and add Personal Details in Step 1 > Complete Online Verification
Once your Holding is Verified, you can link your Network account and make the transfer as described in the Migration Guideline.