Crown Currency gone into Administration

Banned 24 replies
Found 4th Oct 2010
Hi All

Anyone been effected by this, over 13,000 people have lost their holiday money. Does anyone know the chances of getting any money back?
I'll try and put all the links containing useful information in this thread and if anyone can contribute i would be really grateful.

  1. Misc
  2. Holiday
24 Comments

robbery!!!!!!!!!!!!!!!!!!!!! has cost me a few hundred pound

Original Poster Banned

gizmat

robbery!!!!!!!!!!!!!!!!!!!!! has cost me a few hundred pound


Cost us £2000 the robbing ba***rds.

Bloody hell lol Robbery indeed.

When it was put on as a hot deal a while back, I did mention then, that it was impossible for them to be offering the rates they were without losing a lot of money.

Also that the firm was not putting customers money into a separate bank account, so basically they seemed to be working a sort of pyramid scheme, collecting money in, waiting for up to a year to pay out, and just spending the incoming money in between. Then comes the day when it catches up with itself.
Remember the old saying, if it sounds to good to be true........................

dcx_badass

What idiot pre-orders travel money "upto a year in advance" anyway?


those that obviously have more money than sense, and now they have less money and tears.

Banned

owned

I remember seeing the deal that was posted. I think I may have posted that the saving you were getting was no way worth the risk. Some members did post to say you were taking a chance. Feel sorry for anyone who has lost out.

gutted lost £600, due for delivery 19th oct.

bump


Original Poster Banned

For you insensitive arseholes on here, when a financial site says it is registered with the FSA you kind of take that as a recommendation, also by Martin "Moneysavingexpert" Lewis and is also featured in this months Which? magazine as recommended.
It's no different to when holiday company's go bust, some people have lost life savings over this, as it happens we're ok, we have the money, but some families have lost everything, try to think beyond your vindictive selves because I would hate anything bad to happen to you financially.
Try reading some of the stories on the Martin Lewis forums, and see the reasons why people have been using the service for 6 years with no problems.
If nothing else it may give the FSA a kicking so that things like this don't happen to others.



Edited by: "sennasnit" 5th Oct 2010

Banned

dcx_badass

What idiot pre-orders travel money "upto a year in advance" anyway?



Probably the same sort of idiot that buys stocks and shares!

I expect those who bought their currency at over $2 to the £1 were really gutted 6 months later when everyone was getting $1.60 instead!

As for "not being allowed".... how many retaillers are on here that have gone bust and people have lost money?

sennasnit

For you insensitive arseholes on here, when a financial site says it is … For you insensitive arseholes on here, when a financial site says it is registered with the FSA you kind of take that as a recommendation, also by Martin "Moneysavingexpert" Lewis and is also featured in this months Which? magazine as recommended.It's no different to when holiday company's go bust, some people have lost life savings over this, as it happens we're ok, we have the money, but some families have lost everything, try to think beyond your vindictive selves because I would hate anything bad to happen to you financially.Try reading some of the stories on the Martin Lewis forums, and see the reasons why people have been using the service for 6 years with no problems.If nothing else it may give the FSA a kicking so that things like this don't happen to [email protected], very much living up to your name, please remove the image it's not funny and it just makes you look like a fool.



Well said hun xx

I'm sure I've used these guys in the past and they were pretty good. Shame really...

What a nightmare, have used this company every time we have travelled for the last 6-7 years. My thoughts go out to anyone that's lost money in this mess.

Wow some really shallow and insensitive comments from some people on here. I hope anyone who has lost their money manages to get some form of recompense.

Original Poster Banned

Thanks for the sensible comments, hopefully this will stop similar situations in the future.
I hope the FSA change their "small business" policy because of this.

Ok I've been nice and taken down the pic.

What was the actual deal with these guys anyway though? Pre-order money at a much better rate or something? Seems a bit risky if you are buying money months before a holiday.

Banned

numptyj

Ok I've been nice and taken down the pic.What was the actual deal with … Ok I've been nice and taken down the pic.What was the actual deal with these guys anyway though? Pre-order money at a much better rate or something? Seems a bit risky if you are buying money months before a holiday.



Until yesterday, I would have replied "why is it risky"? I've used them several times. Each time, I've got a much better rate than I would otherwise. Not sure quite how they managed to get themselves in such a state - but then nothing surprises me with bankers. They are all the same. Greedy halfwits who only think of themselves and see themselves as superior.

Original Poster Banned

numptyj

Ok I've been nice and taken down the pic.What was the actual deal with … Ok I've been nice and taken down the pic.What was the actual deal with these guys anyway though? Pre-order money at a much better rate or something? Seems a bit risky if you are buying money months before a holiday.



Thanks for that numptyj.
Yeah, you can order it any where from 1 to 12 months in advance at a much better rate than the high street, now that it's gone t*ts up it's easy to say it was foolish, however the company had been going for 6 years and was recommended by lots of people, it was the biggest online currency converter in the country, i suppose it's the equivalent to Northern Rock, who could honestly say they knew what was going to happen there? And seeing as they had "Registered with the FSA" at the bottom of their home page, no one really knew it was a risk, we all thought we were covered.

Original Poster Banned

VIDEO of company director
See the above video, no doubt he'll be financially secure and setting up another business within 12 months.

I feel for you sennasnit not nice when companies go into administration and then people lose out.

I lost £400 spending money for our hols. I have used the company for the last 2-3 years without any problems so didn't feel too concerned as I only ordered about 4 weeks in advance. You live and learn.

Original Poster Banned

A call centre has now been set up.
You can find the number HERE

Claim forms etc can be found HERE
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