Money transfer.Should i be worried?

[Chaddy]

On the 12th June ( over two weeks ago ) i transfered some monies from my UK bank to a well known currency exchange firm.Not to mention the name but members of this forum have and are still using it according to posts

I have been doing this with the same firm for 8/9 years with no problems.It normally gets transfered once they have recieved into my Cypriot account the same day.
I have checked with my UK bank and they have confirmed,yes, it was sent on the 12th June.
I have emailed the transfer company several times but their "enquiry team" have not replied.Of course phoning them and speaking to a human being who can make a decision is impossible ( as it is these days ).
Has my hard earned cash vanished into cyberspace?
Any advice on what this now poorer old sole can do next would be greatly appreciated

[glang3000]

Have you spoken to your Cyprus bank?

I transferred £10.000 pounds a few years ago, it didn't appear in my Cyprus account so I contacted Moneycorp who I had used, I use Wise now. they told me the money had gone through but was being held in Nicosia Alpha bank as they suspected money laundering, I was foaming, they had made no attempt to contact me, I visited the branch in Paphos and had to prove it was from my own funds before they would release it.

[Chaddy]

Thanks for your reply glang,however in this case the transfer firm have not acknowledge me that they have received the funds off my UK bank which for the last 8/9 years they always have done.

[ApusApus]

I assume we are talking about Currency Fair! Below, I have copied & pasted an email they sent me on 23 April regarding changes to their procedures and what to do if things go wrong:

"Our bank details are changing on April 23rd.
From this date, you must use new bank details when sending funds into CurrencyFair.
What do I need to do?
When you log in to your CurrencyFair profile after April 23rd and set up your Send Money transaction for AED, CAD, CZK, EUR, GBP, NZD, USD, ZAR, you will be presented with new bank details (e.g. account number/IBAN, account name). To ensure your money reaches your CurrencyFair profile and to process your transaction as quickly as possible, you will need to:
Check and update your CurrencyFair bank details - Log in to your online banking and update the bank details you have saved relating to CurrencyFair for any bank details which are different to what is displayed on your CurrencyFair profile.
If you receive funds from third parties, you will also need to advise them to now use our new Bank Details.
Please note that some new accounts may be subject to international transfer fees. Where applicable, information regarding fees will be displayed to you when setting up your Send Money transaction.
What if I send in money using the old account details?
If, after April 23rd, you send funds to the old account(s) in error, please email support@currencyfair.com with the title “Funds sent to old account” and our Customer Experience team will help locate your funds to process your Send Money transaction.
As the old accounts will be closed from 30th April 2024 if you do send funds to the old bank accounts after this date your Send Money instruction will not be processed, and your funds will be automatically returned to the sending bank account as undeliverable. To avoid any issues or delays, we advise you to update CurrencyFair's bank account details on your online banking as soon as possible by following the steps above. Please note that CurrencyFair cannot be held accountable for any issues resulting from sending funds to the incorrect account.
If you have any questions or issues, please contact our Customer Experience team at support@currencyfair.com.
Regards,
The CurrencyFair Team"



Shane

[Chaddy]

By keeping the name of the company secret others who use the same company are unable to give you their recent experiences.Youre not making allegations of any kind so what's the big problem to name the company??

Ok Les,i thought it would be etiquette not to name,but you probably have a good idea.

[Chaddy]

Thanks Aspus,very informative,i will get my grandson onto this as you may have solved the problem.i.e.i transfered my funds to,,,, well,,,,,yes you named them Currency fair AFTER the 23rd April.Silly me my ageing grey matter was not kicking in again,,thanks again

[galexinda]

If it is Currency Fair then there are two phone numbers that I had to use last November and this January.
I was put into a holding queue so I put my mobile phone onto speaker and carried on doing something else while the music played, but I did get through and the problem was resolved (CF received the funds but I could not exchange or transfer it). Only found that out when I made the phone call.

Colm House, 91 Pembroke Road,
Ballsbridge, Dublin 4
+353 (0) 1 526 8411
(9am - 5pm Dublin/London time Monday - Friday)

No. 1 Poultry,
London
ECR2 8EJ
+44 (0) 203 3089353
(9 AM-5 PM Monday-Friday)

[Anarita John]

Chaddy, I have sent you a pm. We had problems with CF and the transfer took a fortnight. Phone impossible to get through to.

[Chaddy]

Thanks John,,thats right,they do not answere their phones ( human being seldom do these days) nor do they reply to emails.
Oh, my wife comes from..........Rochdale

[Paul]

I use XE for money transfers just lately I had £2500 sent to Cyprus in less than a day.
Been using them since 2011.
No problems at all
Paul

[jeba]

I used Currencyfair this week to transfer funds to South Africa with no problems. Money arrived within 2 days.

[Dominic]

There was a similar thread to this a couple of months ago. I thought it was the same one to be honest. Anyway, as ApusApus said, check the AC No. You will get it back if it has gone to the wrong account, or tried to go, but you will need to contact your bank.

[Chaddy]

I thought i,d done it.Got the new currency fair account details to transfer some of my hard earned cash to...So far so good.
Now more fun starts. My Nat west bank as it is a new account details to be sending money to says i have to have a.....card reader.

Card reader?????? Never heard of it.

I dont want to changes the world i merely want to transfer some brass into my now rapidly dwindling BOC account.

Any advice ( not to change the world ) please on how a zero tech old F***t can simply transfer his money.

[galexinda]

NatWest Card Reader

Have found this information about the card reader and it appears you need to have one in order to do quite a few on-line transactions.
https://www.natwest.com/support-centre/ ... eader.html

Have seen requests on Facebook by people asking if they could borrow a card reader issued by other banks and people have offered theirs.
You should be able to use any NatWest card reader because, reading further in the link, you insert your Debit Card and are asked to confirm the card details and enter your card password (not the password you use to log on online or on a mobile app).
A code is then sent to your mobile phone which you enter onto the card reader and you can then continue with the transaction.

From the above link:
When you bank online, you'll also need a card reader to:
set up a payee
make a payment for the first time
update any regular payments, like standing orders
update personal details, like your mobile number, PIN, email address or password
manage your activity alerts

[jeba]

Has anyone had experience with keycurrency.co.uk? They don´t seem to charge fees but will make a profit on the exchange rate they offer. Any recommendations or warnings?

[Aargent]

I used to use CF for years but some time ago things started going very sloe, taking several days for the transfer to complete. I blamed the Bank and phoned them to tell the. The third time this happened the Bank the Bank kind of hinted that it would be a good idea if I changed my transfer Company. Long story short, I changed to Transferwise, now Wise, I do the transfer to them fairly early in the morning and the money is in the Bank by late lunchtime. The rates are ok as well.