The Currency Club

Omega_1

Has anyone any experience of dealings with The Currency Club for currency exchange as have not seen any reference to this on the MSE currency moneymiser site and particularly as their rates appear most competitive.

tang90

I also was trying to find some user experiences on this company as I found their rates were the best I could find and nothing matched them on the travel money maximiser. I ended up giving them a shot with a bit of help from review centre and bought USD1500 for our family holiday. Great service and because they give you a better rate with the more you order, it worked out fab! They should be put on the travel money maximiser.
I use this site a lot and I came across this thread when searching about them. Hope this helps fellow money savers!

benjus

tang90 wrote: »

I also was trying to find some user experiences on this company as I found their rates were the best I could find and nothing matched them on the travel money maximiser. I ended up giving them a shot with a bit of help from review centre and bought USD1500 for our family holiday. Great service and because they give you a better rate with the more you order, it worked out fab! They should be put on the travel money maximiser.
I use this site a lot and I came across this thread when searching about them. Hope this helps fellow money savers!

Can you post some specific figures please?

Judging by a quick quote I see that $1500 would cost £962 from the Currency Club, compared with £950 from the cheapest place on the Travel Money Maximiser (ICE Chelsea) - so several pounds more expensive.

I don't know if there's a specific reason they're not on the TMM, but they don't seem to be offering anything that isn't already available cheaper from other companies that are on the TMM.

Omega_1

At time of original posing of question (Jan 1st) I was seeking S.A. Rands and Currency Club at that time was the best rate available that I could find with on-line searches. Having done a re-check today for Rands and they are no longer the most competitive. I have subsequently done my business with Bupa (who turn out to be using ICE as their supplier) however, strangely it seems that ICE themselves appear to be offering a slightly less competitive rate than the Bupa rate !

NomosAnna

Hi All,

I'm amazed that The Currency Club has not been listed on this site other than on this single thread. I use them frequently for my USDs and EUR orders and will continue to do so when I start my business trips over to UAE. Their website is so easy to use and their exchange rates are the best I could find. The whole experience was so quick with free next day delivery and I agree with all the reviews left on review centre - they should definitely be added to the list on this site so people can take a look and decide for themselves

benjus

NomosAnna wrote: »

their exchange rates are the best I could find

Where else did you look? I found several companies offering better exchange rates for USD in a couple of minutes.

Sorry if I'm being excessively cynical, but it does look a bit suspect when the only people recommending a site have only one post to their names.

If any established members on this site have experience with this company it might be useful to find out.

Grumpelstiltskin

Looking on Whois as to who owns the domain name this comes up.

http://whois.domaintools.com/thecurrencyclub.co.uk


'A non trading individual' so 2 words come to mind barge and pole.

I think it is an offence to say you are a non trading individual and then use the domain name on a commercial website but don't quote me.

photome

2 recomendations both from 1st time posters. mmmmm???

dzug1

The site LOOKS kosher - contact address, proper phone numbers, etc. The rates offered are good enough to be believable and not too good to be true. Other results that come up on google are consistent with the company being what it says it is. And they don't need to hang on to your money for ages before sending it - the deal is immediate.

Wouldn't want to pass judgement. I was wrong about CCE - or at least didn't spot when it went bad offering rates that were too good to be true.

aerostar

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The following information has been found using the net.

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Nominet, ( registrars of co.uk) the witholding of details is obviously incorrectly stated, "Non Trading Individual" and is against the rules.

---

currencyclub.co.uk,
From their website Privacy Policy Statement.

"Sterling Consortium Limited (trading as The Currency Club) ("We") are committed to protecting and respecting your privacy. [We are registered as a data controller with the Information Commissioner's Office (number Z2256375)] "

And
Furthermore, we are listed on the Financial Services Authority register (FSA no. 504439) under the PSD Directive and governed by HM Revenue and Customs as a Money Service Business (MSB registration no. 12120971).


504439 seems wrong FSA gives
530841 - Sterling Consortium Limited

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Sterling Consortium Limited looked up at Companies House.

Companies House info
Name & Registered Office:
STERLING CONSORTIUM LIMITED
50 HARROWBY STREET
LONDON
W1H 5EE
Company No. 05850613

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From a Credit Agency - Proposed a 250,000 credit to see what the result would be.


Net Monthly Credit Rating: £0 Adverse Trading Situation Maximum Credit Rating: £0 for 30 day terms Your Proposed Credit: £250,000

Your Proposed Credit Risk:
Proposed credit not advisedThe Credit Limit you have proposed would make this one of your biggest credit exposures. However the subject has received a £0 Credit Rating. We cannot advise exceeding our Credit Rating by this amount.

SUMMARY Registered Number: 05850613 Sales: - Date Incorporated: 19 June 2006 Pre-Tax Profit/Loss: - Date Latest Accounts: 31 March 2010 Working Capital: £678,695 Employees: - Net Assets: £614 Risk Indicator: 20

The company has been assigned a Credit Rating of £0. During the year shareholders funds have fallen sharply to £614. This figure is very low. In view of the foregoing, it is suggested that interested parties should obtain a director's guarantee before proceeding with unsecured dealings. The risk index allocated to STERLING CONSORTIUM LIMITED is based on an analysis of the findings recorded above. In view of the serious nature of this information, (particularly the poor trading performance), the company has been placed in a very high risk category. ALERT STATUS Status: ON MONITOR.

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There is also The Currency Club Limited registered at the same address and same directors, currently stated as "DORMANT"

Risk Indicator: -
The company has been assigned a Credit Rating of £0. The company did not trade during the accounting period to 31/03/2010. There is, therefore, an insufficient basis on which to assign a credit figure. From the most recently filed accounts, it appears that the company did not trade. A current Risk Score is therefore not available.

Cash in hand........stated as £1.

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There seems to be lots of positive reviews found using Google, so it seems that there is conflicting information from financial information as against customer experience.

photome

aerostar wrote: »

---

The following information has been found using the net.

---

Nominet, ( registrars of co.uk) the witholding of details is obviously incorrectly stated, "Non Trading Individual" and is against the rules.

---

currencyclub.co.uk,
From their website Privacy Policy Statement.

"Sterling Consortium Limited (trading as The Currency Club) ("We") are committed to protecting and respecting your privacy. [We are registered as a data controller with the Information Commissioner's Office (number Z2256375)] "

And
Furthermore, we are listed on the Financial Services Authority register (FSA no. 504439) under the PSD Directive and governed by HM Revenue and Customs as a Money Service Business (MSB registration no. 12120971).


504439 seems wrong FSA gives
530841 - Sterling Consortium Limited

---

Sterling Consortium Limited looked up at Companies House.

Companies House info
Name & Registered Office:
STERLING CONSORTIUM LIMITED
50 HARROWBY STREET
LONDON
W1H 5EE
Company No. 05850613

---

From a Credit Agency - Proposed a 250,000 credit to see what the result would be.


Net Monthly Credit Rating: £0 Adverse Trading Situation Maximum Credit Rating: £0 for 30 day terms Your Proposed Credit: £250,000

Your Proposed Credit Risk:
Proposed credit not advisedThe Credit Limit you have proposed would make this one of your biggest credit exposures. However the subject has received a £0 Credit Rating. We cannot advise exceeding our Credit Rating by this amount.

SUMMARY Registered Number: 05850613 Sales: - Date Incorporated: 19 June 2006 Pre-Tax Profit/Loss: - Date Latest Accounts: 31 March 2010 Working Capital: £678,695 Employees: - Net Assets: £614 Risk Indicator: 20

The company has been assigned a Credit Rating of £0. During the year shareholders funds have fallen sharply to £614. This figure is very low. In view of the foregoing, it is suggested that interested parties should obtain a director's guarantee before proceeding with unsecured dealings. The risk index allocated to STERLING CONSORTIUM LIMITED is based on an analysis of the findings recorded above. In view of the serious nature of this information, (particularly the poor trading performance), the company has been placed in a very high risk category. ALERT STATUS Status: ON MONITOR.

---

There is also The Currency Club Limited registered at the same address and same directors, currently stated as "DORMANT"

Risk Indicator: -
The company has been assigned a Credit Rating of £0. The company did not trade during the accounting period to 31/03/2010. There is, therefore, an insufficient basis on which to assign a credit figure. From the most recently filed accounts, it appears that the company did not trade. A current Risk Score is therefore not available.

Cash in hand........stated as £1.

---

There seems to be lots of positive reviews found using Google, so it seems that there is conflicting information from financial information as against customer experience.

What does all that mean?

Do not use ?