Problem with Crown Currency ?

[wayneg]

I know this site is not up for discussion on here but people will need help if true.
Hopefully this is wrong info but 1st signs don't look good. Try order money thru their site and it re-directs you to ICE currency. People are ringing and getting answer phone or busy tone.
Good luck to anyone with money with them.

Admin Edit...
This is the statement posted on CCE's website as of 04/10/2010

Crown Currency Exchange Limited
Crown Holdings (London) Limited

(Both In Administration) ("the Companies")

Updated: 4 October 2010

ADMINISTRATION

Paul Clark and Matt Bond, of MCR, together with Harold Sorksy and Stella Davis of SPW (UK) LLP were appointed Joint Administrators ("Administrators") of the Companies on 4 October 2010. Paul Clark and Matt Bond are licensed by the Insolvency Practitioners' Association, and Harold Sorsky and Stella Davis are licensed by the ACCA.

The affairs, business and property of the Companies are being managed by the Administrators, who act as agents of the Companies and without personal liability. The role of the Administrators is to deal with the business and assets of the insolvent estates.

CURRENT STATUS

The Companies operations are suspended whilst the Administrators assess the position.

The website will be updated on a regular basis.

In addition, the call centres will be reopened shortly and the operators will deal with your queries as far as possible. Please be advised that the message that the call centre operators provide to customers will be in accordance with the Joint Administrators.

Should you have any queries, please email crowncurrencyexchange@mcr.uk.com and the Administrators endeavour to respond to your query as soon as practicable. Please note that the Administrators understand that there are in excess of 13,000 customers and an immediate response will not be possible.

For and on behalf of
Crown Currency Exchange Limited
Crown Holdings (London) Limited

The Joint Administrators

The affairs, business and property of the Companies are being managed by the Administrators, Matt Bond & Paul Clark, (MCR) and Harold Sorsky & Stella Davis (SPW (UK) LLP) who act as agents of the Companies and without personal liability. The role of the Administrators is to deal with the business and assets of the insolvent estates.

See more...

Originally Posted by TorFX

Good Afternoon,

Official statement from Tor FX

The directors of TorFX would like to correct speculation surrounding suggested links between TorFX and Crown Currency Exchange. The directors of TorFX categorically state that the company has no commercial or managerial links with Crown Currency. Neither Peter or Susan Benstead, or Crown Currency own or control TorFX (or vice versa), and the business is run by an independent management team.

Susan Benstead and Edward James retired from TorFX in 2009.

Both were non executive directors and neither had any involvement in the day to day management of TorFX.

As an FSA authorised payment institution TorFX operate segregated client accounts and comply with the FSA's capital adequacy requirements.

TorFX is a solid business in a strong financial position. We are obviously concerned for anyone who has been affected by the unfolding events at Crown Currency but reiterate that the two companies are entirely separate.

Tor Currency Exchange Ltd is authorised by the Financial Services Authority under the Payment Service Regulations 2009 (FRN 517320) for the provision of payment services.

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[mossyflossy]

hope this isn't the case and noone loses out from this.

[°o°-Hannah-°o°]

i really hope not. my mum and dad are expecting their money from these guys next monday for their trip on the thursday

[Tetrarch]

To be fair and to avoid a panic - They do say "technical difficulties" and nothing immediately more sinister. However, that said, they will never be seeing a penny of my money - I don't deal with unregulated institutions

Regards

Gary

[Stu]

Hi,
I have spoken to ICE as there are some concerns that ICE are linked to Crown currency.

Just to make things clear ICE have told me that they are not associated with Crown in any way other than they supply currency to them.

At the present time we can not contact crown, so we have no way of confirming if crown are having financial difficulties or not.

{edit}
Originally this thread was closed as we have had a policy for a long time about discussing Crown Currency.
In light of what is being said on other sites like MSE, with some not receiving the money they were expecting today, we thought it was only right to give the DIBB members somewhere to air their concerns and ask questions.

We have removed our block on Crown Currency for the time being until some hard evidence one way or another comes to light.

Personally, I really hope there isn't a problem with CC as it will affect numerous DIBBers, I'm sure.

Regards...

[gala]

I have just posted this elsewhere so I was wondering if the last few entries here meant anything in light of what has happened? Not understanding financial 'speak' it may mean nothing. I hope things arent as black as they seem at the moment. Fingers crossed for you all.

ukdata/a-z/company/051674...CHANGE-LIMITED

Margaret

[billbarbara229]

Originally Posted by Tetrarch

To be fair and to avoid a panic - They do say "technical difficulties" and nothing immediately more sinister. However, that said, they will never be seeing a penny of my money - I don't deal with unregulated institutions

Regards

Gary

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Crown Currency are FSA regulated as they sent me the details email them and they will confirm it
this is what they sent me before I dealt with them
Quote
Crown Holdings (London) Ltd t/a Crown Currency Exchange. Crown Holdings (London) Ltd is registered with the Financial Services Authority under the Payment Service Regulations 2009 (register reference 503404) for the Provision of payment services.
Crown Holdings (London) Ltd Company Reg: 5204837 Money Laundering No: 12231420.

[Kelly22]

I'm really worried I have over £1000 booked with this company!

[Moodyblue]

Originally Posted by billbarbara229

Crown Currency are FSA regulated as they sent me the details email them and they will confirm it

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As far as I know they are only covered by the FSA under the Payment Service Regulations which I don't think is going to help anyone

[zoemoo]

We used Crown in the summer and had no problems. Like you I was a bit dubious but they are recommended on this site and Martins Money so I thought we woudl be fine. I spoke with a 'real person' on the phone and it showed as a transaction I felt comfortable with on my bank statement.
The only slight worry was the delivery arrangements, mainly because I couldnt be 100% confident I would be in to sign for the package (which was dollars in cash)...
Hope this reassures or helps, this all took place in August 2010