Crown Currency concerns

[Shazzie B]

Well from the excitment of tickets arriving to this

I've just rung my bank Lloyds TSB and they've not heard anything - he advised they normally do as soon as any one 'goes under'. His current advise is to wait for developments and has stated they'll 'dispute' payment even though bank transfer and not debit card transaction but can't do that unless 'goods' fail to arrive - no guarantee though.

 

[misscrossbee]

I just wanted to add my hopes that this is all some sort of technical glitch that can be easily sorted out and nothing more nefarious.

Fingers crossed for everyone waiting for money.

 

[wildwood]

I have called barclays to check where i stand and they said as it was paid through bank transfer, they will not cover it. It is only covered if the card is actually used then Visa would cover it.

Did you not do yours by bank transfer? And what barclays number did you ring please?

i paid mine via my online barclays account through the pay some one option , we phoned customer service and they put us through to the online banking department who logged our problem and gave us a ref number . They assured us that we could get our paymnet back through there online banking guartee but I dont belive anything until I see the money and talk to them on the 13th which is the day they said we need to talk to them so fingers crossed . i REALLY REALLY hope everyone gets there money and it is some problem that can be resolved but I also know that some one went to there offices in cornwall today and there is no one there .

 

[stubb]

have just rang our premium banking service with barclays and they say there is nothing they can do! Received some money from them last week but had ordered more to be delivered at the end of oct feel sick!!!!!

 

[jackieleanne]

Oh no hope that something gets sorted for all you guys.

 

[orangetiggs]

https://www.currency-express.com/comparetravelmoney/statement.html

statement re crown currency

 

[Pooh's-Honey-Pot]

Subbing to keep up to date. Will be gutted if this is true. All our spending money for our Christmas trip is with them

 

[Pooh's-Honey-Pot]

It wouldn't be covered on trip insurance, would it?

 

[wayneg]

It wouldn't be covered on trip insurance, would it?

I doubt it very much but read your policy, they are all different.

 

[cornish pixie]

I am so sorry for every one affected by this we have ordered off them a couple of years ago and found their service to be good so am hoping for everyones sake that their is a simple explanation.
I live about 10 mins from Hayle and will go down and have a look over the weekend to see if there is anything posted on their door not that really helps anyone but am happy to go and see if ther is anyone around : (.
Cornish Pixie xx

 

[jen_uk]

There doesn't seem to be anything on the web about them going under. Hope you all get your money

 

[scottishgirl87]

I don't know how legit this is or anything but there's mention over on MSE of contacting a Melanie Whitehead at the BBC over this. Mentioned here.

Was also going to suggest that people contact Watchdog?? At least they would maybe be able to get somewhere.

 

[Sapper383]

Keeping my fingers crossed for all of you who have money with Crown

I read on another tread that they are part of travel money services

http://www.travelmoneyservices.co.uk/

 

[kristieuk]

That site gives the same message if you click buy online, and it confirms that they are one and the same (Crown Holdings Ltd).

The only glimmer of hope I can see is that they are at least trying to redirect business to an unconnected company - perhaps to cover some temporary cashflow issue? I don't know obviously, but they could just close the site entirely, and the fact that they haven't might be a tiny bit hopeful?

We only have £300 with them, which compared to some is barely anything - read over on MSE of someone waiting for £10k. I think I would be sick.

Good luck everyone, I really hope this is resolved quickly

 

[les2425]

oh humm not very nice, i hope you all get sorted out befor you go away.

les

 

[rpbert1]

I really hope anyone effected by CCE, gets their money back.
Reading through this , maybe ,just maybe , while they are not taking any orders at this time, and nothing is reported about bankruptcy, maybe they will or plan to fulfill all outstanding orders

 

[UKDEB]

I followed this story on the various fora all day yesterday. So much nonsense has been spewed on so many aspects that my head's in a spin. However, that doesn't change the fact that clearly something is amiss.

It's difficult to see how CCE can have gone belly up, in what is a simple, risk free (to them) undertaking unless its Directors have used clients' funds in other ventures (or just to support their lifestyles), a rogue employee has been speculating on the currency markets, or there is some other fraud involved. My educated guess is that it's most likely to be the first of these.

CCE is small-fry, not a major financial institution. Whilst it would be prudent for foreign exchange brokers to hold clients' monies in a separate account, there's no legal requirement for them to do so. That would prevent them taking these funds as Directors' remuneration and would render these transactional businesses insolvency-proof (provided the Directors were law-abiding citizens, of course; it wouldn't protect against fraud).

As we speak, it seems unlikely that this company is in receivership or administration. In my experience, the Receiver or Administrator would have posted a notice on the website to that effect. However, it doesn't follow that the company is solvent, so it may just be a matter of time before official insolvency measures are implemented. It could be that the company has cashflow problems which have reached a head and is trying to secure funds to carry on trading. It may have been able to quietly do that were it not for a handful of internet posters. I'm not criticising anyone for making their plight public, but ironically it could well be the final nail in the coffin.

 

[saratogagirl]

I wish sometimes I didn't have internet, I would have been none the wiser to all the goings on...

Don't want to give anyone false hope, but someone on Money Saving Expert has just posted that they recieved their £1200 of euros this morning (they should apparently have been delivered yesterday)...

 

[wayneg]

On radio 4 now

 

[cazzie]

It is on radio 4 now.