Gold Monitoring Thread £ GBP only

[REILsilver]

12 minutes ago, Paul said:

Nationwide made me jump through hoops buying my last five sovereign for £2650 the other month - first time this has ever happened to me in 100s of purchases/sales - i thought nationwide were the good guys, evidently not  

Same, it was first time for me too. Don't think any of them can be classed as the good guys.

[Coverte]

5 minutes ago, REILsilver said:

Same, it was first time for me too. Don't think any of them can be classed as the good guys.

I've too wasted most of the day trying to get my account unblocked after some enthusiastic purchasing yesterday - I agree, there are no good guys. 

[katyc]

43 minutes ago, GoldDiggerDave said:

Mate I think we have all had that, think @katyc recently had the same issue.  I had it every single time I tried to pay the Royal Mint directly form an account where my PAYE wage got paid into so there was zero issues about where the money came from  and where it was going.     It's very strange indeed that moving a few grand around is treated as contraband and it's not as if it's a lot of money nowadays.   

Yep, it was only a £280 transaction... Account frozen for over a week! They unfroze it with no explanation or investigation. There was no need for it. I made a complaint and got £75 compo but didn't make up for the inconvenience and frustration it caused. 

[apachebleu]

 @BackyardBullion just did a video about his own experience recently with this. He had Major problems with his bank blocking payments to the mint, after speaking to their fraud team they said he was all set.

 He tried his card again while on the phone and it failed again. In the end the guy on the phone told him that even though he had completed all fraud checks the algorithm wouldn't allow it.

 

 Now I'm no conspiracy theorist but this is recently happening to a lot of people trying to move money out of the mainstream banks and in to crypto or metals. 

 It's very strange and I doubt it's a coincidence, does someone not want you to move your money out of the banks? Are they so overburdened they can't afford cash withdrawls on any type of scale and they are doing anything possible to avoid giving it out? Do we have more banks waiting to collapse?

 Or possibly someone wants gold, lots of it and is trying to stop it leaving the markets?

 If either I would lean towards the first, I think a lot of banks have bugger all in reserve and are in no position to hand out cash/see it leave their system. 

 

 Either way I feel a lot more comfortable with a decent amount of gold in my possession. 

Edited July 14, 2023 by apachebleu

[flyingveepixie]

47 minutes ago, REILsilver said:

@GoldDiggerDavethat's what confused me the most, I've done transaction of thousands and yet it flagged me on less than £400 for a sovereign 🤯

I transferred £300 from myself to myself a couple of nights ago from  one account to another, and although they let it go through they pointed out to me no less than twice during the transfer process that this could be a fraudulent transaction..  WTF..?

 

 

 

 

 

 

 

 

[NGMD]

 Posted my problems with the NatWest months ago and warned where we are going with Big Brother dictating what you can spend YOUR money on.

I did also notice their new terms and conditions state they can can decline any transaction with or without your agreement.

I regret laughing at the conspiracy fruitcakes. Well, a little.

[GoldDiggerDave]

36 minutes ago, apachebleu said:

 @BackyardBullion just did a video about his own experience recently with this. He had Major problems with his bank blocking payments to the mint, after speaking to their fraud team they said he was all set.

 He tried his card again while on the phone and it failed again. In the end the guy on the phone told him that even though he had completed all fraud checks the algorithm wouldn't allow it.

 

 Now I'm no conspiracy theorist but this is recently happening to a lot of people trying to move money out of the mainstream banks and in to crypto or metals. 

 It's very strange and I doubt it's a coincidence, does someone not want you to move your money out of the banks? Are they so overburdened they can't afford cash withdrawls on any type of scale and they are doing anything possible to avoid giving it out? Do we have more banks waiting to collapse?

 Or possibly someone wants gold, lots of it and is trying to stop it leaving the markets?

 If either I would lean towards the first, I think a lot of banks have bugger all in reserve and are in no position to hand out cash/see it leave their system. 

 

 Either way I feel a lot more comfortable with a decent amount of gold in my possession. 

Always make sure you have a few bags of sand to hand mate!  

[REILsilver]

58 minutes ago, katyc said:

Yep, it was only a £280 transaction... Account frozen for over a week! They unfroze it with no explanation or investigation. There was no need for it. I made a complaint and got £75 compo but didn't make up for the inconvenience and frustration it caused. 

Dammm! I didn't complain hard enough. Lol

[REILsilver]

53 minutes ago, apachebleu said:

 @BackyardBullion just did a video about his own experience recently with this. He had Major problems with his bank blocking payments to the mint, after speaking to their fraud team they said he was all set.

 He tried his card again while on the phone and it failed again. In the end the guy on the phone told him that even though he had completed all fraud checks the algorithm wouldn't allow it.

 

 Now I'm no conspiracy theorist but this is recently happening to a lot of people trying to move money out of the mainstream banks and in to crypto or metals. 

 It's very strange and I doubt it's a coincidence, does someone not want you to move your money out of the banks? Are they so overburdened they can't afford cash withdrawls on any type of scale and they are doing anything possible to avoid giving it out? Do we have more banks waiting to collapse?

 Or possibly someone wants gold, lots of it and is trying to stop it leaving the markets?

 If either I would lean towards the first, I think a lot of banks have bugger all in reserve and are in no position to hand out cash/see it leave their system. 

 

 Either way I feel a lot more comfortable with a decent amount of gold in my possession. 

It is one of the main reasons I started buying PMs only a month or so ago. Something is happening. All banks in my surrounding local towns are closed or closing. Cash point are regularly out of funds, more and more shops are limiting cash back and payments are being monitored. Its happening right under our noses.

[Darr3nG]

I see a new sign on the counter of my local post office, saying that there is now a maximum on the amount of cash you can lodge... I'll get a photo next time I'm in. There is a real push against cash!

[CANV]

Bank staff  don’t look at transactions.  Their computers do..  the banks are under huge pressure to stop their customers being scammed.  
do not put the word ‘coin’ in any narrative box.  This immediately sets off the Bitcoin alarm .  There are many other trigger words. 
the banks aren’t out to get you .  They have to comply with many a regulation that our wonderful government and financial overlords set 

Edited July 14, 2023 by CANV

[REILsilver]

7 minutes ago, CANV said:

Bank staff  don’t look at transactions.  Their computers do..  the banks are under huge pressure to stop their customers being scammed.  
do not put the word ‘coin’ in any narrative box.  This immediately sets off the Bitcoin alarm .  There are many other trigger words. 
the banks aren’t out to get you .  They have to comply with many a regulation that our wonderful government and financial overlords set 

It's a fine line between protection and control. 

 

1 hour ago, apachebleu said:

 @BackyardBullion just did a video about his own experience recently with this. He had Major problems with his bank blocking payments to the mint, after speaking to their fraud team they said he was all set.

 He tried his card again while on the phone and it failed again. In the end the guy on the phone told him that even though he had completed all fraud checks the algorithm wouldn't allow it.

 

 Now I'm no conspiracy theorist but this is recently happening to a lot of people trying to move money out of the mainstream banks and in to crypto or metals. 

 It's very strange and I doubt it's a coincidence, does someone not want you to move your money out of the banks? Are they so overburdened they can't afford cash withdrawls on any type of scale and they are doing anything possible to avoid giving it out? Do we have more banks waiting to collapse?

 Or possibly someone wants gold, lots of it and is trying to stop it leaving the markets?

 If either I would lean towards the first, I think a lot of banks have bugger all in reserve and are in no position to hand out cash/see it leave their system. 

 

 Either way I feel a lot more comfortable with a decent amount of gold in my possession. 

The bank assistant was very close to closing my account and setting up a new one.

[Ted1945]

It’s not of great concern to most but it’s odd that there are no branches of HSBC in the City of London now.  I wanted a little face to face complain time, had to go  to a regional branch, queued for half an hour to be told my problem could only be dealt with on line. It was carnage in there, massive signs saying don’t abuse the staff.  Thank god Jeremy Corbin never got in or  the country would be in a right mess  by now ….. oh hang on 

[Coverte]

I finally just got my a/c unlocked - 24 hours hard graft and 7 calls in total today - bl00dy absurd.

Mind you, I don't think I helped my cause by telling one of the fraud team to look at Tavex on Trustpilot where they have a 9.4 = 94% approval rating and then saying now lets look at you;

Oh dear, I'm sorry to tell you that your bank only have a rating on Trustpilot of 1.6 = 13% - do you really think your qualified to advise me on how to spend my own hard earned money - he hung up ..... 

[Coverte]

 

[CANV]

39 minutes ago, REILsilver said:

It's a fine line between protection and control. 

 

The bank assistant was very close to closing my account and setting up a new one.

it is. but its not the banks call.  just like an over officious Wetherspoons bar tender demands id off a 23 yr old.  or tells your 17 yr old they have to leave by 9 pm..   they dont want to do it. they have to. 

or they get shut down.  blame the regs not the companies/staff  that have to apply them.  

anyway. golds going to 1300 quid. 

[REILsilver]

9 minutes ago, CANV said:

it is. but its not the banks call.  just like an over officious Wetherspoons bar tender demands id off a 23 yr old.  or tells your 17 yr old they have to leave by 9 pm..   they dont want to do it. they have to. 

or they get shut down.  blame the regs not the companies/staff  that have to apply them.  

anyway. golds going to 1300 quid. 

I get it, I just think its strange that out of the 10 years I have been with this particular bank, the time I start buying alot of PMs is the time they decided to be all protective. 

[apachebleu]

44 minutes ago, Ted1945 said:

It’s not of great concern to most but it’s odd that there are no branches of HSBC in the City of London now.  I wanted a little face to face complain time, had to go  to a regional branch, queued for half an hour to be told my problem could only be dealt with on line. It was carnage in there, massive signs saying don’t abuse the staff.  Thank god Jeremy Corbin never got in or  the country would be in a right mess  by now ….. oh hang on 

That drives me nuts seeing those don't abuse the staff signs.

 Companies need to take some ownership, people get abusive when they are upset or frustrated and these conditions are being bred through poor customer service.

 While it may not be the fault of the bank clerk, the lone till operator in tesco with a line of 6 people and 10 closed checkouts either side, the call centre worker that can't speak English the decline in customer service is someone's fault and those people are never there to be held accountable. Setting your workers up for failure and thinking a stupid sign solves anything is pathetic.

[CANV]

10 minutes ago, REILsilver said:

I get it, I just think its strange that out of the 10 years I have been with this particular bank, the time I start buying alot of PMs is the time they decided to be all protective. 

because your purchasing behaviour suddenly changed.  id be shocked if they didn't. 

[apachebleu]

1 hour ago, GoldDiggerDave said:

Always make sure you have a few bags of sand to hand mate!  

 Good advice, when we have seen financial trouble in Greece, Turkey etc. there is no notice, you wake up, the banks closed its doors, its not giving out money and you are on your own. 

[CANV]

3 minutes ago, apachebleu said:

That drives me nuts seeing those don't abuse the staff signs.

 Companies need to take some ownership, people get abusive when they are upset or frustrated and these conditions are being bred through poor customer service.

 While it may not be the fault of the bank clerk, the lone till operator in tesco with a line of 6 people and 10 closed checkouts either side, the call centre worker that can't speak English the decline in customer service is someone's fault and those people are never there to be held accountable. Setting your workers up for failure and thinking a stupid sign solves anything is pathetic.

shop elsewhere.  there are alternatives.. although you will have to pay for a better service,,  banking is free in the UK. that is not the norm.  

 

anyway  gold is not going to 1300.   1200 !  

[Darr3nG]

28 minutes ago, CANV said:

anyway. golds going to 1300 quid. 

 

3 minutes ago, CANV said:

anyway  gold is not going to 1300.   1200 !  

 

[SidS]

Regarding the locking out of accounts. Ive had it myself before now. For the past few years I've rarely paid straight from my balance, what I tend to do now is pay by credit card and then clear my credit card by using the balance from my account, if that makes sense?

Edited July 15, 2023 by SidS

[Bars]

15 hours ago, Paul said:

Nationwide made me jump through hoops buying my last five sovereign for £2650 the other month - first time this has ever happened to me in 100s of purchases/sales - i thought nationwide were the good guys, evidently not  

Bummer, good thing ive opeend another account. 

[Earthmetal]

16 hours ago, NGMD said:

I regret laughing at the conspiracy fruitcakes. Well, a little.

These "fruitcakes" are the only people on earth on your side. I'd advise you to re-think who you accept advice from.