Feedback needed on Bureau de Change providers

Simstwins

I have collected my euros over the last couple of weeks from my local no1 currency bureau de change. A little off putting as the desk is at the back of the local cash converters shop, but the service was brilliant

I was able to choose the denominations of the notes for the transactions, with a great rate as well.

So I'm a happy customer

indiegirl_2

Another thumbs-up for Crown Currency Exchange. Was very nervous about completing a bank transfer to them (esp. as there's little fallback if it goes wrong). However currency was due on the 3rd Aug and was delivered this morning - so earlier than asked for.

I was pleased to see a variation in the denominations given; without asking for it! (always helpful).

Very impressed with the service and the best rate at the time of booking. I will recommend them again.

wakeywarrior

I was tempted to use this company myself after reading universal excellent feedback on them.

However, checking at Companies House indicates that their accounts are now overdue by nearly 1 year.

This is a red flag sign.

If a company cannot file its accounts, should it be trusted to hold hundreds or thousands of your pounds? Remember if it goes under you may not get a penny back.

I am not saying it is a bad company or that it will go under, and no doubt some people will say many companies do not file their accounts on time, but late accounts are often a warning signal that all is not well.

MSE should warn their users about the significant risk of using any company that takes your money up front with no insurance scheme backing.

As they say, you pay your money and takes your choice. Is a 5-10% better rate worth the risk? Only you can decide. I will be going to my local Bureau and walking out with my cash in hand.

I also did some research. The company shares directors (and an address) with a company called Tor Currency Exchange Ltd and Dream Island TV Productions Ltd. I cannot post links but do a google search on these to make your own mind up on whether you are totally satisfied before handing large sums of money over to anyone.

virtualseabed

I used the local No1 Currency branch today for Euros and saved myself about 50 quid vs my bank branch rate. The counter is at the back of a Cash Generator shop - not my usual haunt - but the counter staff were friendly and efficient. I also called their helpline number beforehand which advised me to take cash instead of a card to avoid any card issuer charges.

milliemonster

Just used Best Exchange (I know they're not on the first thread) for my euros, I used the travelmoney max comparison the other day and they came out tops for Euros at the time, but was a bit worried about sending £1000 via bank transfer to someone I had never heard of!, anyway £1000 got me £1145 Euros, arrived by Special Delivery today so am pleased with their service

gavel_2

tesco do offer buy back but not at the same rate

alexhart

Hi Dan,

Just to let you know, Travel money services and crown currency are owned by the same company.

Regards

Alex

secretdancer

I just had a wasted trip to the Cardiff branch of No1 Currency to purchase some Czech Korunas. Offered a good price on the web but when I asked to purchase some I was told, sorry we don't carry that, I can have it for you by Friday!

Hardly lives up to its claim:

We offer the most competitive exchange rates on the high street and have currency in outlet so there is no need to order. Our currency offer means you have the best rate of exchange and no commission, giving you that little bit extra to splash out with on your travels. And it couldn't be easier! At No1 Currency Bureau de Change, our stock is held in-outlet, unlike many high street banks. No waiting around, just exchange and go! Come along to any of Bureau de Change outlets throughout the UK and make your holiday or business trip even more affordable!

woozie01

I would steer clear of No1 currency. Although they offered the best exchange rate (you have to pay 10% deposit) they only gave us £300 worth of New Zealand dollars, which was put into a sealed envelope for our £500. Because we didn't notice straight away & had paid cash we were told that we had no come back.

kalinka

Information useful - going to order on-line from Post Office instead.