CyprusLiving

by **lion** » 10 Feb 2016 08:06

We transferred some £ out of CF yesterday and the money has not arrived in our UK Nationwide account.

I think CF should refund the transfer fees.

**Sponsor**

by **Jim** » 10 Feb 2016 08:22

Yesterday, give a chance Geoff..

by **Mike Strand** » 10 Feb 2016 08:36

Transfer times by CF

by **el tel** » 10 Feb 2016 19:37

Lincoln , the funds arrived in my BOC account at 5 pm UK time today which is longer than normal but they arrived ! From other comments it looks as if the situation is improving.

Terry

by **The Shuttle** » 10 Feb 2016 20:14

hi I have been reading with interest about this company and as I am new to owning a property is this the best company to use as regards exchange rates and charges, when I purchased the property I used FC Currency exchange.

Thanks

Mick

by **Admin** » 11 Feb 2016 07:11

It was in our opinion, they are having a few bank problems regarding money transfers, my guess they will soon get back to normal trading. (I will use them again when they do)

by **lincoln** » 11 Feb 2016 07:45

el tel Terry.

Thank's terry. We shall now go ahead.

by **lion** » 11 Feb 2016 15:37

Still awating the £ from CF into our Nationwide Account.

CF need to sort this out and improve their customer service.

by **Romany** » 11 Feb 2016 17:06

Update

After 9 days my funds finally arrived in my USA account. CF finally contacted me with unreserved apologies and an explanation that they had not updated their routing numbers with the change of their Bank. They explained that Bank of America decided to end their contract with CF at very short notice following an analysis that CF were not doing enough business with them. This meant that they had to get another bank to act for them and the short notice meant that they made some 'mistakes'. This does not of course explain their appalling customer service.

by **Romany** » 12 Feb 2016 17:45

Their 'appalling customer service' was a reference to their very poor response to an obvious emergency within their organization. Something they now admit could have been handled very much better. I too have used this company extensively over the past four years with very few problems but when you hand someone a relatively large amount of money to transfer on your behalf and that money 'disappears' for several days with automated misleading email responses to your requests for information and a telephone service that will not answer plus a failure to call back as promised (twice), then that is pretty appalling.

by **lion** » 12 Feb 2016 18:02

Well I am still waiting for our money to arrive.

I would advised people to avoid Currency Fair at least for the moment.

by **lion** » 13 Feb 2016 09:51

Monies still not arrived.

Email sent to Currency Fair

by **Jim** » 13 Feb 2016 10:09

Hope you get it sorted, must be a worry..

Jim

by **trevnhil** » 13 Feb 2016 10:22

And it is for this reason (people with money missing) that I would use another firm next time.

Trev..

by **Jim** » 13 Feb 2016 10:39

Yes tried this with Transferwise, so far cash has not arrived here on the island, no idea why I will send them an email..

by **trevnhil** » 13 Feb 2016 10:49

It will be interesting to hear the outcome Jim. I am only guessing but will BOC or other Cyprus banks be able to accept money at weekend. Or at least show it on your account as being received

Trev..

by **Happy in Cyprus** » 13 Feb 2016 21:43

When I use Transferwise, the funds arrive same day, or next day at latest. But as the Cyprus banking system closes down for the entire weekend, funds received will not show until some time on Monday.

by **Admin** » 14 Feb 2016 07:16

Lloyd...

I have last week used Transferwise but unfortunately the small test funds I sent have not arrived as yet, been four days,(today Sunday) will check again on Monday morning, seems they too are slowing down, I may have been unlucky, this never happened to me with CF this has to be said.

By the way TW did contact me over night (Sat). They said one to four days for cash transfers, but did confirm it had been sent to our Cyprus Bank. I must say the use of Debit card is a lot faster to apply for money transfer, it is though more expensive but probably worth it for the convenience.

by **trevnhil** » 14 Feb 2016 07:49

The use of Debit card is certainly an attraction. You say their fees are a little dearer, is it a set fee or a sliding scale Jim.?

Trev..

by **Admin** » 14 Feb 2016 08:01

Yes Trev a little higher in cost's but they do give you a better rate of exchange, it is on a sliding scale I will know more when I do a larger transfer in the near future..

Good morning by the way Trev, and another lovely warm day, spring has arrived (did it go away?) .. :-bd

Jim.

by **darrow** » 14 Feb 2016 09:28

Currency solutions. Same day transfer. £10 for under £10,000. free over that.

by **poolriver** » 14 Feb 2016 13:32

I used Currency Fair on Monday morning. Did a test transfer and it arrived in my CF account same day.

Did 3 figure sterling transfer from U.K. bank on Tuesday morning same result arrived in CF account same day, showed up in my balance as well as showing as completed in transactions page too. Did the exchange to my Landlords account and that went through later on Tuesday as well.

The obvious problems they have had with their sterling account change seems to be getting sorted out, going by my experience, hope it stays that way.

Jim.

by **Aargent** » 15 Feb 2016 12:56

Am about to change details at RBS Am I right that the Account which funds have to be sent to is Earthport Plc and not Currency Fair ?

by **Boom Boom** » 15 Feb 2016 13:17

Aargent
Earthport Plc is correct

by **Aargent** » 15 Feb 2016 13:49

Thank you - didn't want to get it wrong.

by **Jim** » 16 Feb 2016 07:35

OK Transferwise trial, seems it is the BOC that has caused problems here, our trial transfer did go through last Friday (day and a half), yesterday (Mon) we get a phone call from our BOC manager to ask who the cash was for, strange they found our phone number, so the IBAN number worked, surly if they called me and they have that IBAN number they should know who it should be paid to..

This morning had a reply from Transferwise with a PDF of the receipt, clearly has my name of it and my IBAN number, so what the blue blazes are the BOC doing, I will be going in today with that printed off receipt to ask the question, it was only a trial test for TW but they look a good company I feel the way to bring cash over and the debit card system is so easy not accounting for BOC not knowing what it was about.

by **lion** » 16 Feb 2016 08:03

Sent an email to CF on Friday about missing monies.

16/2/16 no response from CF nor has the money arrived.

This is not good.

by **Admin** » 16 Feb 2016 08:15

It's not Geoff never heard of this before with CF, again try phoning them today. I guess problems will always happen when transferring cash from the UK to an international destination.

Now this was worrying when I sold my UK home to move out here the bank sent it to an incorrect bank account, the cash was lost for several weeks, not talking of a few quid either but my total house sale money, it eventually turned up in a London holding Bank, clean underwear all round, We will never forget that transaction for sure, Lloyds/TSB the culprit then.

Good luck sorting your problem out, I'm sure it will turn up.

Jim.

by **Boom Boom** » 17 Feb 2016 12:07

Currency Fair - Back to normal!
I did a transfer Monday (15th ) to CF £1,000
Transaction completed Monday night and in my Hellenic account this morning (17th)

by **galexinda** » 18 Feb 2016 12:59

Needed to transfer funds but hesitant due to problems incurred by Currency Fair when they changed their bank details but it got to the stage where I needed some Euros.

It has taken 48 hours but this is excellent when I encountered extra problems created by me!

Started off with being unable to access account because my phone wasn't working in order to accept the verification code. Rang CF in Ireland and sorted by a call helper in Australia who also sent me an email and offered to ring me if I still had any problems later that day. Then when I came to transfer funds from a UK account to the new Earthport account for some reason I entered the wrong digits on my bank account - another call to CF and that was also rectified. Just sent another email to Australian call helper to confirm everything had gone through.

Lessons learnt for next time a) make sure phone is working and b) make sure I have checked UK bank details are correct before pressing confirm button.

by **Admin** » 19 Feb 2016 07:16

Well I gave Transferwise a try, very fast easy to use, did a small cash transfer from our Llyods UK account as a test, duly sent by TW to the BOC in Paphos via a German bank, in a day!, BOC then refused to accept it for a very minor technicality, the words "on behalf of" then my name, so BOC sent it back to the Deutche bank where it the cash was sent from, now neither TW or me know where the deposit is...

This all started a week yesterday, now I have since heard some members who use BOC and TW have had no problems, BOC told me it could be money laundering, well if my test €60's is considered this then god help us all, I was going to use TW exclusively as the system is so much easier, providing some minor bank clerk does not think I am a bandit money launderer.... :roll:

Incidentally TransferWise could not have been more helpful and are doing their best to recover that small amount of my money, they have phoned me several times from London, I thanks to Jack for his continued help with this..

More on this saga as soon as I know more.

Jim.

by **trevnhil** » 19 Feb 2016 08:08

What are the fees for Transferwise Jim. Do they work on a percentage of the money being transferred.

Trev..

by **Jim** » 19 Feb 2016 09:26

Only made that one transfer Trev, but I think you are correct, send them an email and just ask...Soon as I get this problem sorted with my bank in Cy I will send over a much larger cash transfer.

I can tell you the transfer fee is slightly higher than CF but they give you a better exchange rate, all in all nothing in it.

P.S

Just had an email 9.30am, from Transferwise, they have recovered my funds, they are re-sending my trial transfer again to the BOC will let you know how this goes, but have to say TW look after you very well it seems.

by **ASHTON** » 21 Feb 2016 00:00

Can anyone advise me on this..Lets say i transfered 1,000 euros to my Cypriot bank via a direct phone call to my UK bank. How much less per pound am i likely to get than if i went through a currency exchange firm.
One,two three,maybe four cents?? I mean iS it really a big deal. :-?

by **Happy in Cyprus** » 21 Feb 2016 00:18

Transferwise tell you how much you will save just as soon as you tell them how much you are sending, and where to.

Can't give a definitive amswer to your question, but an educated guess on €1,000 I would think you will save €25-€30 on the transfer fee alone. You will undoubtedly also get a better exchange rate.

by **Wee Stumpy** » 21 Feb 2016 06:46

I needed to pay a company in England but for some reason Transfer wise will not accept their Bank Account so I did the transfer via Hellenic. I think it cost me 30 Euros on a transfer of 1340 sterling but in fact the exchange rate was quite good - from memory there was only about 5 Euros difference between the XE currency transfer amount and the Hellenic so yes it was quite a bit dearer than Transferwise but they could/would not do it so needs must.

by **Admin** » 21 Feb 2016 07:53

TW are slightly more expensive but not by much compared to CF, but the debit card system is easier to use than CF, it seems you have well overcharged for your transfer Shelagh, I transferred 5K for 10 euros the last CF transfer, it was in our BOC in two days

TW well we have had a few problems, someone at TW missed off a vital piece of information so the BOC sent the small test funds back, TW tell me all will be OK Mon/Tues the funds should be in our BOC account, this has took ten days, but being pragmatic these thing happen living here..

TW (Transferwise) CF (Currency Fair)

I believe CF are back to normal.

by **lincoln** » 21 Feb 2016 09:25

C.F. Are back to normal. Did a four figure transfer . All went through smoothly.

by **Sinbad** » 22 Feb 2016 17:28

I have used CF a few times over the past year , but thanks to people on this thread I tried TW yesterday (Sunday not the best day ) but all seemed to go well . As a trial only sent 30quid , pleased to say it arrived in my Hellenic account today (37€) charged me £1 . As Jim said used my debit card , very easy .

I have always found CF a little daunting to use , so might use TW in future .

by **ASHTON** » 22 Feb 2016 17:47

Lincoln,,i've just transfered a four figure sum to CF myself for anward transfer..Watch this space.

by **Sinbad** » 22 Feb 2016 21:30

Actually I did try the new system at CF last Thursday for a small amount and so far it has not got there .
Just had this email from them . " Thanks for your email.

As you may already know, we have recently changed banking partners and this has prompted a very high number of enquiries. As a result, we are not responding to customer queries anywhere near as quickly as we would like. At the moment it is taking a couple of days to reply to emails - we realise this can be incredibly frustrating and we are doing everything we can to get back to our normal service levels as quickly as possible. "

So it appears they are not back to normal yet .

by **reesy** » 23 Feb 2016 06:10

Can someone please post the contact details for Transferwise...Thank you.

by **Jim** » 23 Feb 2016 07:05

Dave try Google...

www.transferwise.com

by **trevnhil** » 23 Feb 2016 07:24

It still would appear upon checking that you get better value for money with Currency Fair.
I have just checked both websites and CF quote €38 more for changing £10,000

Trev..

by **Ageing Rocker** » 23 Feb 2016 08:37

Trev

That sounds a bit contradictory :?:

by **trevnhil** » 23 Feb 2016 08:49

Sorry if it confused you A R.

I have just checked again. If you get £10,000 sent here in Euros, here is what you end up with in the bank. This only takes into account the two companies charge, not any Cyprus bank charges

Currency Fair.... €12,758.47

Transferwise.... €12,713.93

Trev..

by **Jim** » 23 Feb 2016 08:58

AR yes as we have already posted TW is a little more expensive but the ease of use is a big factor for many of us, if you do not think so just carry on with CF..

By the way £ has dropped against the € today, Sky news are blaming Stupid Boris for this, Boris to stick to riding your bike around.

by **Ageing Rocker** » 23 Feb 2016 09:54

trevnhil wrote:CF quote €38 more for changing £10,000

This is what confused me - I thought with CF you got charged LESS for transactions.

Edit: Sorry, I read that as meaning 'charged more' not 'received more' - now I've got it :oops:

by **galexinda** » 23 Feb 2016 09:59

When I was having problems with my CF account recently I also sent an email but preferred to telephone the number in Ireland and hold until I spoke to a call handler who then dealt with my situation there and then.

by **Sinbad** » 23 Feb 2016 10:13

I just had a look at Trev's example , here it is in screen shots . As Trev says higher fee with TW .

CyprusLiving

Currency Fair bank change.

Who is online