Crown Currency concerns

[tony64]

I have been on phone all morning and neither the FSA or companys house are aware of any problems which is a glimmer of hope.

The bank cannot help at all as bank transfrs are not covered in any way !!

The FSA say that the money should be held in a seperate account and this would not be classed as an assest as it still belongs to the customer until the contract is complete - so again hopefully a bit of hope that all money has not been lost !!
I have a guy at FSA phoning me back at 4.30 to advice further as they have started an enquiry into what is happening with this firm ! Will post the details of that conversation !

Thanks for this. Fingers crossed that it is just something like a power cut.

 

[Mrs Doubtfire]

I have been on phone all morning and neither the FSA or companys house are aware of any problems which is a glimmer of hope.

The bank cannot help at all as bank transfrs are not covered in any way !!

The FSA say that the money should be held in a seperate account and this would not be classed as an assest as it still belongs to the customer until the contract is complete - so again hopefully a bit of hope that all money has not been lost !!
I have a guy at FSA phoning me back at 4.30 to advice further as they have started an enquiry into what is happening with this firm ! Will post the details of that conversation !

Thanks Louise

 

[woolamstiger]

Hi new to this forum and just picked up on this thread.......has anyone heard any more news about whats happening with crown currency really getting worried as we are due to receive our currency from them next week and from the sounds of it it doesnt look like thats going to happen we are due to go in 2 weeks and there is no way we are going to get enough money together in that short time

 

[Michelle3000]

http://forums.moneysavingexpert.com/showthread.php?t=2763962&highlight=crown+currency


Not sure if post number 19 is good news or not

 

[Elise79]

I am hoping this works out for all who have money with them.

However there is something going on with this company - I have been having a dig around companies house records and they have recently had a director resign (as in the the form was filed at companies house 3 days ago) and they were late completing their Annual Return (a legal document that has to filed at companies house reporting the directors, secretary and shareholders).

Now I am not saying there is anything wrong - however guys this is only a small company (has £100 share capital) and is filing abbrviated accounts at Companies house so you only get limited information from them.

I tried to get a copy of the accounts however companies house website is having a few difficulites of their own this afternoon!

 

[2Tiggies]

Hi Woolamstiger

Sorry this is not the happiest thread to be doing this, but a very big welcome to the DIS! I hope that you are going to enjoy lots of happy posts on here too.

 

[Fraggles]

Hi well good luck with getting your money back we have 2000 pounds tied up with them the bank says it makes no difference that we internet bank as we willingly handed the money over so they won't be giving us our money back also we live near hayle where the company is based so I drove down there today as was so worried when I couldn't contact them well they are all locked up no one to be found so I popped into the wine bar next door and they said that the whole office were in yesterday for lunch more like the last supper!!!!!! It's not good enough we have worked bloody hard for that money and it makes me feel physically sick that they were still taking peoples money tuesday !!! Please don't tell me they didn't know what was going on tuesday yet they were still taking peoples money it's so not on ......

 

[lin85prest]

Read on another forum that someone received their currency this morning from them. Hopefully everything wil be OK

 

[debs69]

I really feel for you all at this worrying time, for most families they would not be able to pull that sort of money together again. I hope you don't mind me asking but is the risk similar with Fairfx??

 

[UKDEB]

http://forums.moneysavingexpert.com/showthread.php?t=2763962&highlight=crown+currency


Not sure if post number 19 is good news or not

I worked for Barclays for 28 years and it's absolutely inconceivable that they would register with MSE and made a statement of this kind.

 

[Michelle3000]

I worked for Barclays for 28 years and it's absolutely inconceivable that they would register with MSE and made a statement of this kind.

Must admit after I posted I thought it was more than a bit strange...

Looking for positive news anywhere I guess

 

[skelfbsfb]

Just checked a few money exchange sites and none are shown crown currency.

Hopefully someone will have better news to give.

 

[maggs]

I found a link re: CC. Could someone tell me if there is any significance (or none) in these entries in light of what might be happening? This came from the UK Data site.

Filed on: 27-09-2010 APPOINTMENT TERMINATED
Filed on: 27-09-2010 Annual Return made up to 16/08/2010
Filed on: 27-09-2010 SAIL ADDRESS CREATED
Filed on: 30-08-2010 Annual Accounts. made up to 30/11/2009

Maggs

 

[UKDEB]

They're just normal filings in relation to the Companies Act. There's nothing obviously unusual about any of them.

 

[buzz for boys]

I have just got off teh phone to the FSA and their advice is that we should all contact the police and tell them that we have reasonable grounds to believe we have paid for a service that wont deliver !!
Unfortuneatly there is nothing else they can do as they are only registered with FSA to allow them to take payments they are not covered in anyway for any losses.

Sorry its not more positive but basically teh advice is phone and lodge complaint wth police !!

 

[kristieuk]

Without wishing to sound unecessarily cynical, I can't see the police taking any kind of interest in it at all! The old 'it's a civil matter' will be banded about - and really it is, it's not necessarily a criminal offence, even if they have gone bust.

I am still trying against the odds to stay positive, but I am a little cross that the FSA have taken the view that 'it's not our problem', they could at least try to find out what is going on - surely there would be administrators or receivers involved if the plug has been pulled?

 

[Pegasus928]

I am constantly being accused of being overly optimistic - and will probably fall into that category again - but having looked aorund the net most of what I am reading always seems to come back to the same thing, that being that no professional body is aware that anything is wrong.
I am truly hoping that everything is OK and that people who are owed money will receive it as and when the expect to.
Fingers crossed for all of you.

 

[kristieuk]

Just chatting to DH about this - he has his sensible business lawyer head on, he was the one mentioning about adminstrators and liquidation etc. Alhough I think it may just be him trying to make me feel better, he is saying that if Crown use ICE, they must make their orders in advance. Obviously we can't guess how far in advance, or when they would make payment for it. There is also an issue as to whether Crown send the money directly or whether it comes direct from ICE or someone else? I'm not sure.

Also, if Crown have 'done a runner' as such or gone through entirely, would they go to the effort of updating their website to refer people to ICE at this time? Why not just shut the website down? If they were crooks, they would surely keep it up and running and allow further orders to be placed? As matters stand, they are not making it possible for new orders to be placed.

The long and short of it is, even if there is a problem, there is a glimmer of hope that orders have already been placed and will be fulfilled maybe? Our were due to be delivered on Monday, so maybe we wil be amongst the first to know whether or not there is hope.

Anyway, the sun is just shining through here (we are about half a mile from the Ryder Cup), so I am hoping someone up there is looking kindly on us all, and I have everything crossed

 

[scottishgirl87]

Without wishing to sound unecessarily cynical, I can't see the police taking any kind of interest in it at all! The old 'it's a civil matter' will be banded about - and really it is, it's not necessarily a criminal offence, even if they have gone bust.

I am still trying against the odds to stay positive, but I am a little cross that the FSA have taken the view that 'it's not our problem', they could at least try to find out what is going on - surely there would be administrators or receivers involved if the plug has been pulled?

Sorry to hear this has happened, and good luck to anyone involved!

I would agree with the police part as well though, unfortunately.

And as said, does anyone actually have any confirmation on this?! As all this seems to have come from here and/or the Dibb which seems to have transferred to Trip Advisor and MSE. I mean surely someone would have reported on it officially if it were true? Even Martin over on MSE I'm sure would be looking to report it and make people aware.

 

[Lisa29]

I phoned them on thursday at 5pm to make an order for my $ needed for october had a good chat with them happy with my rate and she sent me a email of my order as normall so I then made the bank transferr thursday night . Assumed I would recive a email confirmation of reciving my paymnet yesterday but nothing arrived so I started calling free phone number busy tone , customer service number always a answer machine phoned all day and since 8am this morning really worried now . if you go on the site and try and orded money they say that there site has a tech hitch and you get directed to another compnay phone them and they say they have nothing to do with them I am now crying and felling very sick they have 1000.00 pounds of our money and there is no way we can find another 1000.00 in 25 days .

So DH is on the phone to are bank that after 10 mins of explaining what has happened they have asured us that we can have the money back( as we had used internet banking) but we have to phone back on the 13th October to recive the money as they have to have ten days to invesitigate , lets hope they stick to there word because I really do not know what to do if they dont refund the money .

I have also contacted the FSA and they said they had a simmalar call from someone yesterday and they are now also investigating . I hope any one how has also used this company recently has recived there money for every one who has not I feel your anger

sorry for the ramble I am so cross and upset I dont know what to do apart from warn all my Dis friends so hopefully I can stop someone else going through this .

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?