Thomas Exchange Global - Beware

Paulee

We bought Pula and Rand from this company on 23.3.10. for a 2 week trip to Botswana and a 2 week trip to Namibia in May. The company offered good rates and the transaction went well. However, when we arrived in Botswana we found that the currency supplied was out of date, the Botswanan government had changed it on 31.3.10. This turned out to be quite a common occurrence and it is typical for the government to give little or no notice!

Bewildered and annoyed we sent an email to Thomas Exchange (which also appears to Best Foreign Exchange and TEG Foreign Exchange) on 3.5.10. We explained our predicament and asked for their help. The only place we could echange this outdated currency was in the capital, hundreds of miles away. In the mean time, we managed to borrow some money from our tour guide. We never received any reply to our email - very worrying + frustrating!

When back off holiday we phoned the company three times before we managed to talk to someone who could discuss our problem (and who we could understand). We received little by way of apology but were told that it was difficult for the company to keep track of foreign government exchange changes. We agreed that this was the case and were told that they would look to refund us. They asked us to return the money by S.D. post, together with a copy of our invoice. We also included a letter with the return on 12.6.10. asking for our postage and charges costs to be refunded as well. On 28.6.10. we received a refund, but only for £103.09, the original cost of the currency. We are out of pocket by £6.33!

We appreciate that these amounts are not large but we think that the principle and the customer service of this company stinks. We wrote and told them so and will certainly never use them again. Botswana does include some remote areas and does have lots of problems with cash point and currency fraud. The thought of being in a more remote country, or involving larger amounts of money, with such poor backup from this company really does horrify us. We'll stick to Crown Currency Exchange in future!

Donnie

I fail to see how that is the fault of TGE. They refunded your money, you should be grateful for that. Seems they may also be out of pocket, by having to exchange the now almost useless currency.
You've actually demonstrated that they are in fact an honourable company. Many here have used them, including myself at their Victoria branch. Though now I use Linkfx, as they have slightly better rates.

What on earth did you expect them to do whilst you were in Botswana? They are not your bank. Their duty was to supply you with the currency that you requested, which they did. On realising your predicament, they have refunded your money.

If you have a problem, make representation to the Government of Botswana, demanding the refund of your postage and compensation for your inconvenience.

Whilst you are at it, why not ask Crown what they would have done in the same circumstances.

Some people just don't know when they've got it good.

Paulee

Dear Donnie,

They sold me the currency and it became obsolete well before my trip. A well run company would have known this, contacted people that they had sold the currency to and replaced it!

You may rate them, I don't.

You are right, they are not my bank but a reassuring email acknowledgement would have been courteous and very reassuring. I had to chase them for a refund and that shouldn't happen.

"Ask the Botswanan Government for a refund" - get real!!!

What sort of "good" am I missing here???

Donnie

Paulee wrote: »

Dear Donnie,

They sold me the currency and it became obsolete well before my trip. A well run company would have known this, contacted people that they had sold the currency to and replaced it!

You may rate them, I don't.

You are right, they are not my bank but a reassuring email acknowledgement would have been courteous and very reassuring. I had to chase them for a refund and that shouldn't happen.

"Ask the Botswanan Government for a refund" - get real!!!

What sort of "good" am I missing here???

Please. YOU were travelling to Botswana. You equally could have found the information that it was possible that such a thing could happen.

In all of the time I have been posting here, I have never seen a negative post about this company. if fact I have not seen a negative post about them anywhere.
You requested currency and they sold it you. That is where their responsibility ends.
The fact that the Botswanan government changed it at such short notice is something you can take up with their embassy. I wasn't joking about this.

You are just looking for someone to blame and picking on the easiest target.

Note that no one else has joined your thread. That's because no one else has a problem with them.

Tell me what you expected them to do. Send new currency to you in Botswana? Reassuring mail acknowledgement? Please.

Why shouldn't you have to chase them up for a refund? The people who suffered problems will contact them.

Don't whinge, they did the right thing.

Next time, do your research before you travel.

MikeKBRFX

Donnie,

I must throw my full agreement behind you here.

I have only heard good things about TGE, and have in fact used them myself a couple of times.

The date that Paulee bought the currency was actually before the date the Botswanan Government made a change in the legislation. And as with many nations in that neck of the woods, the chances of a UK company having this information readily available is remote. The wires of contact are not exactly brimming with real-time market information from Botswana.

TGE's duty does indeed end once the transaction is complete, and I feel that they have indeed been very courteous in their refunding of the currency in question.

oioisavaloy

I wouldn’t touch Thomas exchange global with a barge pole from now on !
Used them before and been quite happy but recently went to the Strand branch and was greeted with a rude arrogant cashier who was intent in copying every piece of identification I had when I refused as it states on their T & C s that this would only be done for collection over £2000 I was greeted with refusal to serve
In this day and age with so much identity fraud going on people need to be aware of what they are allowing third parties to copy – I should know I work in this industry!
Found a better exchange rate in Covent Garden Plaza less than 5 mins walk from Thomas exchange global called Covent Garden Foreign Exchange – the customer service was far better with no potential identity fraud issues no copying just viewing and recording - I will therefore be using this place from now on.

fifeken

oioisavaloy wrote: »

I wouldn’t touch Thomas exchange global with a barge pole from .... snip

How many times/places are you going to post this?

dzug1

oioisavaloy wrote: »

with a rude arrogant cashier

With a rude arrogant customer little wonder.

These things work both ways.

isplumm

Donnie wrote: »

Please. YOU were travelling to Botswana. You equally could have found the information that it was possible that such a thing could happen.

In all of the time I have been posting here, I have never seen a negative post about this company. if fact I have not seen a negative post about them anywhere.
You requested currency and they sold it you. That is where their responsibility ends.
The fact that the Botswanan government changed it at such short notice is something you can take up with their embassy. I wasn't joking about this.

You are just looking for someone to blame and picking on the easiest target.

Note that no one else has joined your thread. That's because no one else has a problem with them.

Tell me what you expected them to do. Send new currency to you in Botswana? Reassuring mail acknowledgement? Please.

Why shouldn't you have to chase them up for a refund? The people who suffered problems will contact them.

Don't whinge, they did the right thing.

Next time, do your research before you travel.

Hi,

I would have expected the travel bureau to understand that currency from certain countries go out use & warn the OP. They are meant to be the experts - not the OP.

I agree that it is difficult for them to do anything while in the country - but an acknowledgement might have been good.

As to research - well it wouldn't have occurred to me to do research on whether the currency might become invalid. But of course I would have taken other forms of currency - eg. cards / maybe US dollars - but again I would hope that I would have been advised of this.

Mark

Innys

I have never used this firm and, given that they supplied bona fide currency on the date it was supplied, I honestly don't feel they are to blame.

I would suggest the OP is failing to take responsibility for their actions - which, let's face it, is not unheard of in the UK of 2010.

technik_2

Just used them to get Canadian Dollars and despite it being a bit more convoluted than usual because of having to do a bank transfer, an email was sent to me with a tracking number last night and i've just received the cash at 12.55pm.

Interestingly theres 1000 CAD as ordered...and a solitary $1 US bill. Not really sure why it's there...it even appears on the invoice so it's not a mistake. Oh well $1 for me