Is there a problem with Crown Currency?

A question about : Is there a problem with Crown Currency?

IMPORTANT UPDATES 5 October

For the latest information on this story ince this was first posted.

Please see the
Crown Currency Exchange Collapses news story DISCUSS IT: discussion thread.
MoneySavingExpert hires insolvency expert to investigate Crown Currency exchange DISCUSS IT: discussion thread
Most of the early posts on this thread are now out of date.

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Hi

I just went on Crown Currency to order some $ and it states there is a technical problem and redirects you to ICE who have a lower exchange rate.

There is a post on trip advisor that says there is a problem.

Does anyone know what is happening?

Best answers:

• Think that they may have gone bust - seen some other threads on here and also I have been trying to call them for 3 days 0800 number goes to deadair then either engaged or unobtainable, there main number 01*** eventually gets connected then a message to say the other person has hung up, you may get the option to leave a message but when you do you do not get a call back.
  Therefore have decided to go for another company, however apparently paying companies by bank transfer you are not covered if the company goes bust - Bupa offer payment by credir card so you will be covered
  Daren
• Hi ,
  Long time lurker but am need of some help and advice please?
  My self, partner and family are due to go on holiday next week, and ordered 350 euros from Crown currency exchange.
  I fully researched the company on here and other forums etc and transfered Ј300.83 across to them.
  Funds were showing cleared from my bank account, but had not recieved an email from them.
  After several failed attempts to get hold of them i finally did. The first person i spoke to said that the funds had been returned to my account as they had a problem with their bank account. I Checked and no money had been returned.
  The second said that Barclays had frozen their account, gave me their banks numbers and told me to call them.
  I did this and barclays said under data protection there was no information that they could give me.
  Called crown gain, and outlined my problem again, they said there is nothing they could do and when i questioned them they hung up.
  So after calling, my bank, the police and trading standards it looks like there is no way to get this money back, Im gutted as we saved so hard for two years for this holiday and now its looking like we will have to cancel.
  Could anyone advise please on where to go from here?
  PLEASE NO ONE ELSE USE THIS COMPANY!!
  I know i have been massively stupid in using them, but when i saw they were reccomened on here i honestly thought they would be legit!
  Thanks
• i HAVE BVEEN A LONG TIME USER of Crown and I have tried to get in touch myself today as i too have currency orders with them. After several failed attempts as the person above i finally got an answer from someone. I have been informed to contact Barclays on this number 0117 948 3306 alternatively to e-mail john.varley@barclays.com who apprantly has answers hope this helps anyone who is as worried as i am
• We have had the same problem! We should have had Ј400 worth of dollars delivered today. When they didn't arrive we rang Crown who told us they are unsure of the exact position but the rumours are they have gone bust.
  They told my husband to ring Barclays which he did, but was told by them that due to data protection, they were unable to discuss the matter with him.
  My husband then rang Crown back who told him an announcement will be made shortly.
  Does anybody know if we will have a chance of getting this money back if they have gone bust?
• 01736751621 - is the direct number for Crown Currency Exchange
  500 quid left my account this morning for currency delivery in November.
  Oh dear.
• Have tried to contact barclays via e-mail and had no response (suprise!! :-s) will see what happens hopfully something will be said soon. Still no answer from phones now and now no response to e-mail to company either
• UPDATE: I rang my bank (the brilliant First Direct) and the money left this morning, but was immediately returned, so luckily I haven't lost out! Phew
  Doesn't look good for CCE though!
• Been following a couple of different threads regarding this as although not parted with any cash, I do need to order some. According to the othe MSE thread here is the last message posted:
  "Apparently the company has had its assets frozen by the bank and details will be available later on today. The people at ICE say that trading should resume later but who knows? I've just got my fingers crossed at the moment! "
• After seing them recommended on here I had $800 delivered on Monday. I knew it was risky paying by bank transfer so far ahead but thought Martin's seal of approval meant they were OK. Really sorry for everyone who has maybe lost money.
• gee's ive got nearly Ј1000 due to be dleivered this month
• We have ordered Ј2000 worth of € from Crown Currency and are now worried about what is to happen.
  Where do we go from here and are we protected if they have gone bust!
  Unable to contact them and we need some direction as to what our rights are when it comes to getting our money back.
  Our order is due on 20 October and we don't seem to kno,w what's going on or if we are going to get our €
  Any suggestions from anyone as to what to do or our legal rights!!
• More bad news is that we live near Hayle where Crown work from and there is no one in the office complex. When asking where the staff were one of the locals said that the work team were having lunch altogether yesterday and have not been seen today.
  What a worry why don't these people let us know what's going on.
• Hi
  I received my currency this morning ..I have used this company for many years have ordered over Ј10k worth of USD over the years ...so prehaps I was just lucky..
  I would never purchase cureency using a Creditcard as you are charged for this as it is obtaining cash on credit ..
  Annie
• This statement is made by Barclays in relation to various postings and enquiries in relation to Crown Currency Exchange (CCE).
  At the time of writing Barclays has not been notified of any formal insolvency proceedings in relation to CCE and we confirm that we have not taken any steps to place CCE into any insolvency process.
  Barclays does not facilitate any foreign currency transactions for CCE or on behalf of its clients. Barclays cannot comment on the specifics of agreements between CCE and its customers as Barclays is not party to those contracts. It is CCE's responsibility to fulfil its contractual obligations to its customers under the contract between them.
  Due to customer confidentiality, Barclays regrets that it cannot provide any information in relation to CCE. Customers of CCE will need to refer their queries directly to CCE. For further information, please contact CCE directly on 01736 751627 or 01736 751663. Alternatively, you can write to: Crown Currency Exchange, John Harvey House, Foundry Square, Hayle, Cornwall TR27 4HH or by Fax: 01736 758148.
  MSE UPDATE:
  Barclays has been given permission to post within this thread.
• I'm also one of what could potentially be a large number of customers who have contracts with CCE and are currently worried.
  As a new poster I'm aware that I don't have the ability to post links, but if you edit and copy and paste the following into the address bar of your browser:
  ukdata.com/company/05167427
  You'll see that CCE filed documents recently, included one for Appointment Terminated. To the best of my knowledge this means that a Director has removed themselves from the company (please correct me if I am wrong, I shall take no offence.)
  Given this apparent move, and what I infer about what it means, my outlook for the future is not currently very positive. I truly hope I am wrong but believe that we should all be prepared.
  I hope that the MoneySavingExpert editorial team are currently looking into this in an attempt to establish the facts and relay them to the forum users and website readers.