Written on: 02/07/2012 by teley1965 (1 review written)
First contacted Currencies Direct on a Friday around 11:00 am, after website sign up issues. I explained what I needed to the Rep/Account Manager, making sure he was aware that run a small business with half a dozen regular transfers abroad to suppliers each month. The Rep emailed all forms (so much fro the Web promise ( "Open a business account with us - it's quick and easy to register. Simply follow the easy four step process and we can have you trading with us in no time. Don’t worry – if you only manage to fill in some of the details we’ll save them so you can come back to them later. You can even upload documents as part of this online form")....and asked me to return with signature and the relevant proof of ID, which I email back within 2 hours.
one week later I was still waiting for the account to be set up so called again and 2 hours later advised we were ready to trade.....however the account was set up as a personal account, not as requested under the name of the business, but heyho we can live with that.
After much assurance of teh speed and control offered by CD for transfers overseas we placed our first transaction...this was over 7 days ago and we are still waiting for teh money to turn up at teh recipeints bank. We have called and emailed the Rep but so far he cannot tell us where the mney is!
So much for another of their bold Web promises "Our goal is to deliver excellence in customer service and foreign exchange solutions to help your business grow and compete more effectively within the global market place."
If I had used my bank as I have done for the last 8 years the transfer to our Supplier in the UK would have been there same day or latest next working day. Alright so the bank charges 30 euros more than Currencies Direct for the same transaction but we don't need to phone email and chase the bank work a week after the transaction was meant to be completed.
furthermore, no supplier in Europe will release product without receipt of payment in these ecconomic times , so weigh up the lost time/revenue caused by the tardiness of Currencies Direct and the bank charges look cheap in comparison!
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