Threatening communication — glad I tested before investing big
I opened this account to test GoldRepublic before committing to a larger investment — and I’m relieved I did.
When a small payment issue occurred that I had overlooked, instead of a friendly reminder, I received a threatening letter warning me that my gold would be sold and a fee above that. No prior contact, no polite nudge — just an immediate threat.
While the payment issue may have been on my end, this is no way to treat a customer. I will be closing my account. If this is how GoldRepublic handles small issues, I can only imagine what a larger investment would look like.
Reply from GoldRepublic
Dear Ash,
Thank you for taking the time to share your feedback. We are sorry to hear that our communication was experienced this way, as this is certainly not our intention.
When a purchase is made through a savings plan, the precious metals are purchased immediately on behalf of the customer. This means the order has already been executed and the metals have already been allocated to the account, while the related payment is still expected. In practice, this means we are effectively advancing the purchase while the customer has already received ownership of the precious metals.
For this reason, it is important that outstanding payments are settled. Before any further steps are taken, we send multiple reminders and always aim to resolve the matter together with the customer. Only in exceptional situations, when payments remain unpaid for a prolonged period, can a sale of precious metals become necessary to cover the costs already incurred.
We always remain open to discussing a suitable solution and are generally very flexible in these situations. Based on this review alone, we unfortunately cannot view the specifics of your case, so we kindly invite you to contact us directly via support@goldrepublic.com
so we can assist you personally.
Kind regards,
Team GoldRepublic