Feedback needed on Bureau de Change providers

martyw

robnye wrote: »

just used the above - first time ever ordered currency online.... very impressed - good rate, delivered within 48 hours as stated on their website

Good to hear they're not always terrible:).

Sadly though, I've had PM's from 3 other people here who had exactly the same problem I did. ICE charge your card first, then do security checks later - which is just plain wrong in my opinion. They should either accept or reject the transaction immediately when the order is placed. Locking up peoples money for a week because they changed their mind about accepting the order is pretty awful customer service.

MigsyBigsy

Not sure if this is the right post for my query, but here goes anyway.

I have recently changed my Turkish lira into sterling but I am left with around £5 worth of Turkish coins as the exchange shop does not accept coins. Does anyone know if there is a Bureau that buys coins (in London would be good)

thanks

roland_w

I have used FairFX over the last month in the US. The rates are obviously good, and with this you can fix your rate ahead of time without carrying any cash. The process of putting money on the card is very easy, I put £500 on the card to start (the card was then free), and I put more on just before I travelled and a little more on over the internet while I was travelling. The card was very easy to use for both purchases and cash. Cash withdrawals at Walmart had no charge on them at all, some other machines had a total charge of $1.50 which is low compared to most alternatives. It was also very easy to check on the internet how much cash was left on the card.

There are three things to remember (none are negative against this card):
1) It works like a credit card, and some places in the US only accept cash or debit cards, not credit cards (including some gas stations) - it will not work in these, but neither will your credit card - although I found these places do usually have cash machines so you can get cash out for your purchase.
2) Some organisations will take "authorisation" which may be several hundred dollars (eg car rentals, hotels ...) - while this is not actual spend until they make an actual deduction, this will use up the cash available on your card.
3) Some organisations require deposits (eg home rental). With point (2) above, I put these on my credit card, but due to the charges in the system, the amount you get back is less than the deposit you pay. I would probably have been better to have put more cash on my FairFX card to cover these.

My conclusion is an excellent card which I would definitely use again, but I need to take points 2 & 3 into account in the future - which actually means put more cash on it and use it more.

I was lucky too as I was able to buy dollars at $2:£1 with FairFX before I went and while I was there the rate was down to $1.85:£1 so some of my credit card items came through at less than $1.8:£1.

Roland

gemmabe

martyw wrote: »

Good to hear they're not always terrible:).

Sadly though, I've had PM's from 3 other people here who had exactly the same problem I did. ICE charge your card first, then do security checks later - which is just plain wrong in my opinion. They should either accept or reject the transaction immediately when the order is placed. Locking up peoples money for a week because they changed their mind about accepting the order is pretty awful customer service.

Thought I had better post my experience of Currency Express too. NOT GOOD!

We are off on hols in a week to Greece and the Euro rate went up today so I ordered online through Currency Express, which always seems to be the best deal on Travel Money Maximiser. My order seemed to go through fine, and it was next day delivery - great, I thought! Make sure we have our money in plenty of time. When I checked my Internet Banking, the money had been taken from my card so again, all seemed fine.

4 hours later, I get an email informing me my order has been cancelled! This is because my address is a business address! Er, no, it's not. It's actually a flat above an estate agent's! Doh!

Anyways, thought I would phone Currency Express on their 0870 number :rolleyes: to clarify things and make sure my Euros are put in the post tonight. Only a few minutes job you'd think. NOT! 20 minutes and 2 unhelpful operators later I find that the £400 they have taken from my card is still in bank limbo land and will be so for possibly 5 WORKING DAYS! I asked them why they took my money when clearly they could not provide what I have paid for. They said they haven't taken my money, just placed a hold on it. Lol, same thing to me! Means I have to wait for it to clear back before buying my Euros, doesn't it!

I asked them if "Flat 1" sounds like a business address to them? Er, no. :rolleyes: I told them they were welcome to contact my bank and verify that I do in fact live in a residential property and the debit card I "paid" with is indeed held at that address. In addition, my local council recognises my flat as residential and so to TV licensing, both of which charge me accordingly. Of course, every argument I could come up with was met by the brick wall that is "computer says no". They said they do perform additional checks, but they couldn't tell me what they were, due to "Data Protection" :rolleyes: even though I obviously want to avoid a similar scenario in the future. They also informed me I should make sure I check the "marketing" box on any electoral roll forms, as that is the only way they can see my full address details and prove it is a residential property

After finished speaking to the 2 Unhelpful People, I telephoned my bank who said it would normally be 5 working days until I get my money back. Their systems will update overnight, and if it isn't showing in my account in the morning, I have to telephone Stupid Company back and instruct them to send a fax to Halifax authorising the funds to go back into my account as they will not be claiming them.

All this stress and telephone calls and I do not have my £400 OR my €500!

If, as it seems, lots have experienced similar problems, I would suggest that Martin may want to remove them from the Travel Money Maximiser. Yes, this site is about saving money but not at the expense of good customer service.

Pay the extra few quid and buy elsewhere!

:mad: At 5pm am now pouring myself a large vodka tonic!

gemmabe

An update - Halifax said yesterday if Currency Express had cancelled the transaction yesterday (as ICE said they had) then the funds would appear back in my account this morning. Surprise, surprise, they are not! :mad: Have now forwarded a complaint to Currency Express and instructed them to send a fax to Halifax in order to refund my £400 immediately. In the meantime, still cannot purchase my Euros. :rolleyes: :mad:

martyw

gemmabe wrote: »

:mad: Have now forwarded a complaint to Currency Express and instructed them to send a fax to Halifax in order to refund my £400 immediately. In the meantime, still cannot purchase my Euros. :rolleyes: :mad:

ICE totally suck. I forwarded a complaint too - they truly don't care.

Companies like this go out of business, sadly not quickly enough in this case.

martyw

martyw wrote: »

ICE totally suck. I forwarded a complaint too - they truly don't care.

Companies like this go out of business, sadly not quickly enough in this case.

Hey Dan, can we take International Currency Exchange (ICE) off the Travel Money Maximiser now please?

gemmabe

martyw wrote: »

Hey Dan, can we take International Currency Exchange (ICE) off the Travel Money Maximiser now please?

Yes, please! I would hate for another Moneysaver to have to go through all this, so much hassle for nothing!

trying_to_save_4

Do not use the Post Office, their website prices are much more competative than you actually get in branch (i paid an extra £8 in branch and feel ripped off) and there are much better deals out there. They are quite misleading and will only offer the same rates in branch for large transactions.

jmw20

Wish i'd read this 12 hours ago. Just placed an order with Currency Express so am keeping fingers crossed.