Please be aware!

[Guest]

UPDATED --- Crown Currency in Trouble?
PLEASE see this Thread dated October 2010.. CLICK HERE


Hi
I was going to order from them last year and I got our accountant to do a credit check on them. There registered address and company name comes up as a drinks company, nothing to do with a financial company. I did confront them with this and there answer was... "We are not aware of this and understand if you wish to not deal with us". They did not seem surprised with what i'd found, I would therefore not touch them with a bargepole... if the dollar rate dramatically drops it worries me how they would cope.
Sorry to go on thought you all should know
I have posted this as a reply on another thread then thought it was important enough to start another thread about crown currency

[Guest]

Originally Posted by jlw34

if the dollar rate dramatically drops it worries me how they would cope.

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They wouldn't. They are not regulated by the FSA as far as I am aware and they would probably just go into administration leaving those who had purchased currency losing the vast majority of their holiday money.

[lesley1960]

just checked their web site , address given

Crown Currency Exchange 2005-2006
Crown Currency Exchange Ltd, John Harvey House, Foundry Square, Hayle, Cornwall. TR27 4HH
Company Registration Number: 05167427 MLR Number: 12186030

[Guest]

This was last year I checked so maybe they have changed there registration after my call. I have not checked again recently. I don't want to scaremonger, I would just hate not to have mentioned it and people lose there precious holiday money. Remember you can not pay by credit card so you don't even have that protection...

[lesley1960]

Originally Posted by skyhigh

if you go on to the companies house web site and check their registration number it shows the details of the company and when they last filed tax returns so i dont think they are that dodgy.we all risk our money when we pay out before recieving goods every day,pot luck .

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This sadly gives no indication of their credit worthiness , every company has to file returns wether they are profitable or making huge losses . After making checks I wouldnt deal with them

[lesley1960]

Originally Posted by jlw34

This was last year I checked so maybe they have changed there registration after my call. I have not checked again recently. I don't want to scaremonger, I would just hate not to have mentioned it and people lose there precious holiday money. Remember you can not pay by credit card so you don't even have that protection...

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I think you were right to give the heads up here , their web address matches the address on my search

[lesley1960]

Originally Posted by LolUK

They wouldn't. They are not regulated by the FSA as far as I am aware and they would probably just go into administration leaving those who had purchased currency losing the vast majority of their holiday money.

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I am amazed that they arent regulated , or in fact that they dont have to be?

[hyte1]

I'm not sure if this is of any use to anyone, but you can apparently get the accounts info etc of Crown Currency from here (You have to pay for them however)

It does give a little info on them saying their a

"Small unquoted company filing only a modified balance sheet"

whatever that means.

ukdata/numbers/05167427.html

[lesley1960]

Originally Posted by hyte1

I'm not sure if this is of any use to anyone, but you can apparently get the accounts info etc of Crown Currency from here (You have to pay for them however)

It does give a little info on them saying their a

"Small unquoted company filing only a modified balance sheet"

whatever that means.

ukdata/numbers/05167427.html

See more...

Small companies only have to file abbreviated accounts , shows only limited information

better paying for a credit check tbh ( i'll save you the money lol , says zero )

[Guest]

I am glad people are a bit more informed