[CarnivorE]

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]

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]

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]

What is different about the rules now?

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

[CarnivorE]

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]

"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]

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]

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]

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.

[Johnvest]

Originally Posted by ratebygold.com

As an exchanger you should provide all necessary ID documents to the required e-currency you are using if requested.

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.

I think you do not understand how INTgold behave. I am currently in a difficult situation because of that same verification level issue :
We have a company in the UK and decided to let customers pay with ecurrencies to give it a try, one of them INT. That company account with INT was verified a long time ago, even though after much delay and absolutely no confirmation from INTgold or replies to our messages whatsoever. Anyway the company account was verified to max/unlimited level, so we started accepting payments and receveid money. Then last week we needed some and decided to convert to Egold. Boom "cannot spend" error, no exchange from that account possible anymore, verification down to "02", meaning we could receive but not take any money out ! No warning, no email, nothing, or else we could have prevented that payment from being done. Plus how dishonest is that status that lets you receive but never spend anyway ?
So we spent one hour on the phone with INTgold, provided ALL company documents again plus a driver's licence and proofs from one director, we emailed and faxed them, and spoke to a pretty much clueless lady who said she couldn't do much and was transfering our request to the "verification dpt" and promised to get in touch with us by the end of the business day. They have our phone numbers and emails. 5 business days later, still no news and no reply to our email reminders, that we needed access to the money. I called again, and she said it could take 24-48 hours for emails to be replied to (!) then I was put on hold again, and then she would not justify whatsoever why our previously confirmed account was downgraded without any warning. Just kept saying they needed other drivers's licences and documents, which my associate will NOT provide as he's been the victim of ID theft and has decided to never give them again, let alone to such a company.
Finally that lady gave me the phone of supposedly the head of the "marketing dpt" ?! with a different area code, telling me to leave him a message if I could not get him. I have done that several times, asking why they would make us such a hard time as we have nothing to hide and have provided all documents detailed on their site, while we also still have another company account at 12 points /unlimited to which they could at least transfer the money to sort this out. He has'nt called back yet.
I believe the same kind of one-sided big-brother totalitarian decision has reduced LGE's capabilities to use that ****ty ecurrency. I also start to wonder if they're simply not able to pay out of their reserve.
It's a relatively small amount and we won't die losing it, but I swear if they steal from us I'll spend serious time trashing those fascist's company and scam ecurrency, on top of filing a complaint in the US that is.