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Anyone have dealings with Moneycorp?


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I have used Moneycorp for the last 7 years for transferring my pension into Thailand. About an hour ago I received an email telling me they are no longer involved with the currency exchange business and my account will be closed as of 17 June. I’m not overly bothered as there are other options out there just a bit surprised at the lack of warning. 

Edited by Utalk2mutt
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I use moneycorp and have for sometime. I have not heard anything yet. The notice period is is very short. Still as you say there loss. I used a lovely small independent company up until 2017 and they were taken over by moneycorp. 

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1 hour ago, adv008 said:

I use moneycorp and have for sometime. I have not heard anything yet. The notice period is is very short. Still as you say there loss. I used a lovely small independent company up until 2017 and they were taken over by moneycorp. 

Thanks for the reply. I only use them for the one thing and it literally is they take the funds from my bank and then transfer the money to me here in Thailand. Luckily I don’t allow them to hold funds or extra cash so it really will just be “account closed goodbye”. I guess it is the same for everyone so standby for an incoming email.

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Only 2 days notice. Sound suspicious. Have you checked that the message actually are form them? There are no information of anything like that on their website of what I can see.

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53 minutes ago, Gottfrid said:

Only 2 days notice. Sound suspicious. Have you checked that the message actually are form them? There are no information of anything like that on their website of what I can see.

Yes Gottfrid I checked and like you I couldn’t find anything with reference to their Email. Although having just re-read it again maybe it just refers to me and I haven’t a clue as to why except I am having problems with my HSBC account in the UK right now ( submitting a Tax form) and I am actually returning to UK to sort this and other stuff out. Maybe it’s linked to my HSBC problem.

 

See below:
 

We regret to inform you that TTT Moneycorp Limited will no longer be able to provide you with payments and currency exchange services. 

 

In accordance with the Terms and Conditions which govern your account(s) with TTT Moneycorp Limited, we are writing to notify you that your account will be closed on the Termination Date. As such, your account(s) will be closed as of 17th June 2024 (the “Termination Date”).

 

Please transfer any remaining balances to another named account(s) by accessing Moneycorp’s online platform (if available). After the Termination Date, a member of the Moneycorp team will be in contact to discuss returning these to you. Alternatively, you can contact us via [email protected].

 

If you have any queries or if we can assist you in any way, please contact us via enquiries(at)moneycorp.com.

Edited by Rimmer
email address edited per forum rules
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I used them them every month between 2014 and 2018 to transfer my monthly living expenses from UK to Thailand. Then I discovered TrasferWise which was much easier to use, and slightly better rates. I too have got the email with with the same closure date. Don't think its scam, maybe they have just fallen foul of some financial rule and being shut down?

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1 minute ago, London Boy said:

I used them them every month between 2014 and 2018 to transfer my monthly living expenses from UK to Thailand. Then I discovered TrasferWise which was much easier to use, and slightly better rates. I too have got the email with with the same closure date. Don't think its scam, maybe they have just fallen foul of some financial rule and being shut down?

Thanks for your reply. I was beginning to think it was just me which worried me a bit as I actually (to my knowledge) haven’t done anything wrong. I have used Wise too and will be using them now on a far more regular basis. Poor business from Moneycorp though sending the email late Friday so no one can reply until they are back in office on Monday morning. Cowardly.

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42 minutes ago, Utalk2mutt said:

Yes Gottfrid I checked and like you I couldn’t find anything with reference to their Email. Although having just re-read it again maybe it just refers to me and I haven’t a clue as to why except I am having problems with my HSBC account in the UK right now ( submitting a Tax form) and I am actually returning to UK to sort this and other stuff out. Maybe it’s linked to my HSBC problem.

 

See below:
 

We regret to inform you that TTT Moneycorp Limited will no longer be able to provide you with payments and currency exchange services. 

 

In accordance with the Terms and Conditions which govern your account(s) with TTT Moneycorp Limited, we are writing to notify you that your account will be closed on the Termination Date. As such, your account(s) will be closed as of 17th June 2024 (the “Termination Date”).

 

Please transfer any remaining balances to another named account(s) by accessing Moneycorp’s online platform (if available). After the Termination Date, a member of the Moneycorp team will be in contact to discuss returning these to you. Alternatively, you can contact us via [email protected].

 

If you have any queries or if we can assist you in any way, please contact us via enquiries(at)moneycorp.com.

Seems legit as the email is correct for contact. Have you checked that the email link have the same email, and that the email comes from a valid Moneycorp mail?

If all that is correct, then it´s so far a mystery. However, good luck sorting it out in the UK.

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6 hours ago, Gottfrid said:

Seems legit as the email is correct for contact. Have you checked that the email link have the same email, and that the email comes from a valid Moneycorp mail?

If all that is correct, then it´s so far a mystery. However, good luck sorting it out in the UK.

Yes I’ve checked also checked against other correspondence and also it seems others have had the same email. Maybe Moneycorp have broken some rules somewhere and are being reeled in by a financial governing body or something.

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40 minutes ago, Utalk2mutt said:

Yes I’ve checked also checked against other correspondence and also it seems others have had the same email. Maybe Moneycorp have broken some rules somewhere and are being reeled in by a financial governing body or something.

Possible reason, but good that you checked. There are lots of stuff going on online. Can never be sure of anything without checking. 🙂 

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