LondonGoldExchange suspends all Intgold exchanges

CarnivorE · #1 10-12-2005, 04:27 PM

Londongoldexchange.com suspends all INTGOLD exchanges !

10-10-2005

Trading With INTGold Suspended

We are no longer trading with INTGold due to their erratic behaviour regarding account access. It seems they have changed the rules again and now require further documentation from us (which we have sent previously). At this time we have a restriction on our accounts and cannot send any funds out. We cannot understand why they are making trading conditions quite intolerable, but after long discussions have decided to back off until we know what they are trying to achieve.

We may reinstate them when we are confident that they are not going to spring any more surprises.

pluggy · #2 10-12-2005, 04:52 PM

I pulled out all my INTGold through LGE about 2 weeks ago. Looks like another good decision. I noticed when it arrived in my bank it was from a private individal's account and not from LGE (It was the right amount at the right time and I didn't know the individual so I assume it was LGE

) the banks are tightening up over here.

CarnivorE · #3 10-12-2005, 04:58 PM

Quote:

I pulled out all my INTGold through LGE about 2 weeks ago. Looks like another good decision.

They're just the next Evocash waiting to happen. Intgold account holders have had plenty of warnings, i think if they ignored them all so far and carryed on using Intgold blindlessly it is time for them to wake up and come to terms with the reality. Besides Ratebygold.com and Executive i don't think there are many people out there who keep vouching for Intgold, in fact the only people who would have a hidden agenda or are financially dependant of Intgold's health; bad news though, without any trust left in this e-currency and less and less exchangers ready to take the gamble to deal in it, they're going to be in trouble with a totally useless currency...

gold-talk · #4 10-12-2005, 04:59 PM

What is different about the rules now?

Have they made even more changes in the last couple of days?

CarnivorE · #5 10-12-2005, 05:05 PM

Quote:

Originally Posted by gold-talk

What is different about the rules now?

Have they made even more changes in the last couple of days?

When an exchanger decides to suspend an e-currency, it sends a VERY bad signal to its account holders.
Remember what happened to Evocash last year ? I do ! I never listened to the people who were telling me to exchange my Evos into E-gold until the very last couple of weeks and i got burnt big style !

oscar · #6 10-12-2005, 05:40 PM

"Evos into E-gold until the very last couple of weeks and i got burnt big style !"

The only reliable e-currencies are and will remain:
e-gold, Pecunix and goldmoney.
Whatever else is out there is useless. I learned my lesson from osgold "very big style."

Oscar

yakuza · #7 10-12-2005, 10:20 PM

Now I am seeing the winner...capitalex or Intgold?

I don't understand why Intgold is doing this. LGE is not a small exchange provider...
See the latest: http://www.intgoldsucks.com/

Open2Exchange · #8 10-13-2005, 03:17 AM

LGE is not the only exchanger to have this happen in the last week, all out of the blue. Glad we've never dealt with INTGold or had any desire to do so.

ratebygold.com · #9 10-13-2005, 04:14 AM

As an exchanger you should provide all necessary ID documents to the required e-currency you are using if requested. Now, we all know e-gold doesn't require ID documentation from account holders. Intgold has made it clear by implementing the new "verification level" account holders are not anonymous and will provide ID before using the payment system. E-bullion however has somewhat the same process as intgold. E-bullion waits until you request a large cash out and then sends you an e-mail requiring you to verify your account with proof of ID, passport, DL, proof of residence, business license, and postal address. E-bullion will restrict the account until you prove you are the account holder.

LGE is presumed a large exchanger. Lets assume they are exchanging a large volume of intgold. Now, a while back ago when intgold implemented the "verification level" on account holders LGE would have already sent their ID documentation to continue to use the payment system.

Intgold states the following on their web site.
"Level 3 - 10 points - $5000.00 max per 30 days"
"Level 4 - 11 points or more - Unlimited transfers & withdraws in any thirty day period."

So assume LGE would have had to achieve the highest verification score possible to run their business.

Now, LGE are currently saying they cannot send any money? I don't believe that, unless intgold may have accidently changed their verification level.

Now, there is a reason that LGE has chosen not to continue to use intgold. I just dont think its the reason explained above.

saxifrage · #10 10-13-2005, 04:50 AM

Quote:

E-bullion however has somewhat the same process as intgold. E-bullion waits until you request a large cash out and then sends you an e-mail requiring you to verify your account with proof of ID, passport, DL, proof of residence, business license, and postal address.

Whereas intgold just changes its rules without notice, freezing everyones money.