Have Currency fair gone bust??

C

Currencyunfair

New Member
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5
We have been using their services for about 6/7 years now to transfer my husband's Irish pension to our Canadian Bank account as we now reside in Canada. Since January, we've been having issues and things went haywire in February with our transfer which took a lot of emails ( they no longer answer their phone) to eventually get 21 days later.
Unfortunately, we used them for the March pension payment and are having had no luck, apart from one email saying that they're looking into it, seems our money is gone.
Yesterday, I Google their address and found that their offices are vacant and available immediately for lease.
I advised the Central Bank today, and fear that they are still taking money from people.
Anyone else have any information/ hope that we can get our money back?
 
Currencyunfair said:
We have been using their services for about 6/7 years now to transfer my husband's Irish pension to our Canadian Bank account as we now reside in Canada. Since January, we've been having issues and things went haywire in February with our transfer which took a lot of emails ( they no longer answer their phone) to eventually get 21 days later.
Unfortunately, we used them for the March pension payment and are having had no luck, apart from one email saying that they're looking into it, seems our money is gone.
Yesterday, I Google their address and found that their offices are vacant and available immediately for lease.
I advised the Central Bank today, and fear that they are still taking money from people.
Anyone else have any information/ hope that we can get our money back?
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I transferred us dollars a month ago, I made a mistake but they sorted after a week or so. My mistake was to transfer the money first from the US account to currency fair. You actually have to create a transfer into currency fair first, when that transaction in is created, then you go to the outside account that you want to transfer out of and then transfer it out using your currency fair reference number, then wait a day or so until it appears in your currency fair account
 
Thanks for your reply. The problems last month were not conveyed to us as procedure error but, returned by our bank , on 3 occasions, for a variety of reasons, update details, need swift, incorrect information. Our bank said they never received the money in the first place, until 21 days later. Apart from one email response, they are not communicating at all this time on funds teansferred on 1st March. Online, there are major red flags, no longer dealing in Australia, recent complaints similar to ours etc. I would assume extreme caution before sending money their way without some reassurance.
 
Currencyunfair said:
Not very hopeful...

Am trying, won't allow me, message says there's a link in your reply, please remove the link???
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Key Post - New users can't put links in posts

Spammers post messages with links in them. These links can be dangerous. They also damage the reputation of askaboutmoney. For that reason we do not allow new users to put working links in messages. When you become an established poster, you can post links. An established poster must have...
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Brendan Burgess said:
There is a workaround.

To link to
Code: 
 www.irishtimes.com/
for example, just put in something like

www irish times dot com

Users will understand that and we won't have a bad link.

If you are promoting your own website and you put in a broken link like this to get around the anti-spam measures, your post will be deleted and you will be banned.

Brendan
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Thank you Brendan. Am an ex-pat, it's harder to do these things when you don't have boots on the ground! Feel like I'm shouting "fire" but no one listening.
The building they occupy is up for immediate lease. They're either moving up or out??
Central Bank said they'll advise their supervisor.
FSPO says they have 40 days to respond.
If I am sadly right, people are still putting their money into a potential black hole without understanding the risk.
 
Let's be clear about this.

The Central Bank supervises Currency Fair.
They are aware of the issue.
If Currency Fair is in danger of insolvency, and people are in danger of losing money, the Central Bank would stop them taking any more money immediately and would issue a notice accordingly.

It might take the CB one or two days to do this, or they may have already done it. Could that be why lodgements in are not appearing?

Lots of people move offices, so if their office is available for lease, it means nothing.

I would be concerned that they are not answering their phones. They should put extra effort into this when there are rumours about them.

Brendan
 
Currencyunfair said:
Not very hopeful...

Am trying, won't allow me, message says there
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Thanks! Also, Trustpilot reviews are of all currencies, everyone having the same problem.
TLO said:
I would also be concerned in that they are behind with their annual CRO
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TLO said:
I would also be concerned in that they are behind with their annual CRO
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Also, after 21 days of runaround in February, (resulting in an investigation at our recipient bank because CF claimed on 3 occasions that our bank kept returning the funds) eventually, and for the first time, our money was wired, not the normal etransfer. Our bank's internal investigation established that the funds were only received once, on what we were led to believe was their 4th attempt at sending it. In other words, they've also changed their method of payment.
 
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