 Poster: A snowHead
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| Agenterre wrote: |
| .....If those folks know so much I wish they would report 'Bad Business Models' to the authorities before they rip us all off. ... |
Where would one start? I am not on a mission to reform the financial world. Caveat emptor.
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| I have no idea what credence to give to anything with the term "FSA" attached. It obviously isn't worth as much as CORGI or other industry standards. A good approach seems to be to trust noone in the Financial Services sector.... |
Now that is sense.
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Obviously A snowHead isn't a real person
Obviously A snowHead isn't a real person
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achilles,
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| Where would one start? I am not on a mission to reform the financial world. Caveat emptor. |
For Right or Wrong, we have become expectant of "Standards". Even this government thinks it can improve on the performance of the "FSA" by creating a new regulatory body ( Dave must have an unemployable mate ) . I have no mission either .... but if 'Standards Bodies" exist then let them perform or those who create should underwrite the  -ups.
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Well, the person's real but it's just a made up name, see?
Well, the person's real but it's just a made up name, see?
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According to a radio 4 programme today, Crown Currency owe 20 million to customers and have 3 million pounds worth of assets. Where the devil has 17 million gone? What sort of accountant audited their accounts??
Also, they weren't FSA regulated because their turnover was less than 3 million a month. This is incredulous. As a motor dealership we have to be FSA regulated because we sell GAP insurance (no more than £10,000 per year). Something wrong somewhere. Sounds like the old PONZI scheme to me.
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You need to Login to know who's really who.
You need to Login to know who's really who.
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erica2004, £17m appears to have 'gone' because of their business model. The absolute number is irrelevant. Fact is it is it is yet another example of the FSA (in its current form) with current "teeth" being a "waste-of-space". I see nothing better in Cameron's proposals .. do you ?
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Anyway, snowHeads is much more fun if you do.
Anyway, snowHeads is much more fun if you do.
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I used the company Travel money services a few years back just about a month before the start of the credit crunch and had bought canadian dollars 3 months in advance at an astonishing rate, probably purely out of greed to get the best deal and one over the other exchange outlets. I done as much research as i could but still knew i was taking a huge gamble as you couldnt be insured by paying without your credit card. when looking closely at the different money retailer websites i found that Crown and Travel money services along with a few others had the exact same page layouts, fonts and flash and were all based in the Cornwall area..strange but this made me more comfortable about using the service, anyway, my back bottom was making buttons because everywhere was going in administration around this time and i was panicking about not getting my money when eventually a week before our trip to Canada....Boom 4000 CAD in cash falls through my letterbox, unrecorded and unsigned for in a water damaged envelope!!. I count my self very lucky and wont be so naive or greedy again in the future. And as for money savings expert promoting the use of these kind of sites, I find it totally disgusting and unacceptable, I also wouldnt be suprised if the 2 that have been arrested are all part of the same outfit and linked in with these other sites offering the same service. Beware....
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