Crown money services have gone into administration. This company offered travel money services often offering the best exchange rates.
Could potentially affect alot of travellers.
http://www.crowncurrencyexchange.com/statement.php
Crown money services in administration.
Login
That was how it worked, had used them several times, but thankfully had nothing in the pipeline when it all went down.
Sorry to hear that ...... bad news :evil:
To Create or Answer a Topic
Started by Finn in Ski Chatter 06-Oct-2010 - 13 Replies
Finn posted Oct-2010
Finn
Bandit
reply to 'Crown money services in administration.' posted Oct-2010
Tourists generally buy their currency shortly before they travel. Crown operated differently by offering higher rates for Forward Purchase contracts, as much as 9 months in advance. So I don't think a lot of skiers will be affected by this situation.
Dave Mac
reply to 'Crown money services in administration.' posted Oct-2010
Posting by AllyG, 6 Dec 2009..... What foresight!
Finn,
I would be a bit worried about losing my money, if I used them. This is what the Investors Chronicle had to say about the company - Crown Holdings (London) Ltd in September.
http://www.investorschronicle.co.uk/Columnists/NoFreeLunch/article/20090909/0873f056-9d2e-11de-b65c-0015171400aa/When-segregation-is-good.jsp
Presumably one has to pay upfront for delivery later?
I had a nasty fright when the London Scottish bank went bust, as I had money with them, but fortunately we got it all back from the Financial Services Compensation Scheme, including interest. However, I don't think the FSCS would cover this sort of transaction.
Ally
Finn,
I would be a bit worried about losing my money, if I used them. This is what the Investors Chronicle had to say about the company - Crown Holdings (London) Ltd in September.
http://www.investorschronicle.co.uk/Columnists/NoFreeLunch/article/20090909/0873f056-9d2e-11de-b65c-0015171400aa/When-segregation-is-good.jsp
Presumably one has to pay upfront for delivery later?
I had a nasty fright when the London Scottish bank went bust, as I had money with them, but fortunately we got it all back from the Financial Services Compensation Scheme, including interest. However, I don't think the FSCS would cover this sort of transaction.
Ally
AllyG
reply to 'Crown money services in administration.' posted Oct-2010
Thanks Finn and Dave,
It is nice to be right sometimes :D
I hope no-one has lost too much money. Hopefully most people will only have forward booked a few hundred pounds for their holidays, not thousands of pounds.
It does make one wonder why they were allowed to continue trading, when the Investors Chronicle had flagged them up as high risk.
Ally
It is nice to be right sometimes :D
I hope no-one has lost too much money. Hopefully most people will only have forward booked a few hundred pounds for their holidays, not thousands of pounds.
It does make one wonder why they were allowed to continue trading, when the Investors Chronicle had flagged them up as high risk.
Ally
Rustyinn
reply to 'Crown money services in administration.' posted Oct-2010
That was how it worked, had used them several times, but thankfully had nothing in the pipeline when it all went down.
Dave Mac wrote:
Presumably one has to pay upfront for delivery later?
Finn
reply to 'Crown money services in administration.' posted Oct-2010
Going to Hintertux next weekend, pre-ordered £700 worth of euros exchange rate of 1.2044€ four weeks ago through a company called TMS (travel money services) & guess what, TMS is a trading name of Crown Holdings (London) Ltd. So instead of recieving 840€ today as expected we have got nothing. Have been in touch with the administrators & it all looks a bit bleak, not much chance of getting our money back sadly.
Anybody who has an order with TMS should contact web site for further details.
Anybody who has an order with TMS should contact web site for further details.
Finn
Ian Wickham
reply to 'Crown money services in administration.' posted Oct-2010
Finn wrote:Going to Hintertux next weekend, pre-ordered £700 worth of euros exchange rate of 1.2044€ four weeks ago through a company called TMS (travel money services) & guess what, TMS is a trading name of Crown Holdings (London) Ltd. So instead of recieving 840€ today as expected we have got nothing. Have been in touch with the administrators & it all looks a bit bleak, not much chance of getting our money back sadly.
Anybody who has an order with TMS should contact web site for further details.
Sorry to hear that ...... bad news :evil:
AllyG
reply to 'Crown money services in administration.' posted Oct-2010
Hi Finn,
That's really awful :cry:
It's a lot of money to lose. I hope you get some of it back. Is it going to affect your holiday, or will you be able to manage?
Ally
That's really awful :cry:
It's a lot of money to lose. I hope you get some of it back. Is it going to affect your holiday, or will you be able to manage?
Ally
Topic last updated on 09-October-2010 at 14:57