HiFX problems, delays transferring money

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27 Dec 2006 00:00 by kevinm Star rating in Somewhere so nice, i.... 25 posts Send private message

We have suffered setbacks when using HiFX - it had received the funds from us for the completion on our propert but had failed to forward them. This put us in beach of contract and in short, has caused us (and the vendor) considerable hardship as well as financial loss. At the time, and immediately afterwards, HiFX representatives admitted the error, promising financial redress (repeated to our lawyer, too!) However, on our return to the UK they have now said the delays were our fault, there were no delays on their part, and it will not pay anything towards our costs. We had to give our lawyer power of attorney (for which we had to pay)  now need to return again to collect the keys, measure up and furnish. I am currently fighting this, particularly as all telephone conversations are recorded by HiFX!

Has anyone else had any problems such as this? Apart from the gentlemen who posted this:

http://britishexpats.com/forum/showthread.php?t=330056

The outcome is not yet certain but under the circumstances I would not advise anyone to use HiFX if this is how it treats its clients when there is a problem.

Thanks,

Kevin



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28 Dec 2006 15:33 by Smiley Star rating in San Pedro de Alcanta.... 2437 posts Send private message

Smiley´s avatar

Hi Kevin I do not know if HIFX are registered with the UK Financial Services Authority but if they are and you have a genuine provable claim against them you can report them to the FSA and ask the FSA to support your claim. Check it out and if they are registered then I would contact HIFX and advise that you are reporting them to the FSA and see if that has a positive outcome.

Currencies Direct most certainly are registered and they are the one that I tend to use when I need to do transfer either way.

Rgds


_______________________

Smiley - patrick@marbellamortgages.com  www.marbellamortgages.com   www.comparetravelcash.co.uk




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28 Dec 2006 18:25 by kevinm Star rating in Somewhere so nice, i.... 25 posts Send private message

** EDITED ** Duplicate post



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28 Dec 2006 18:26 by kevinm Star rating in Somewhere so nice, i.... 25 posts Send private message

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28 Dec 2006 18:27 by kevinm Star rating in Somewhere so nice, i.... 25 posts Send private message

** EDITED ** Duplicate post



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28 Dec 2006 18:28 by kevinm Star rating in Somewhere so nice, i.... 25 posts Send private message

** EDITED ** Duplicate post



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28 Dec 2006 18:33 by kevinm Star rating in Somewhere so nice, i.... 25 posts Send private message

Thanks for the message, Smiley. HiFX are regulated by the FSA - anyone else who is having problems, see:

http://www.fsa.gov.uk/register/home.do

Enter company code 4463002.

Meanwhile I have requested copies of all the telephone conversations which I had with HiFX employees (yes, we are entitled) and I am currently awaiting their response.

Watch this space....




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28 Dec 2006 22:22 by Smiley Star rating in San Pedro de Alcanta.... 2437 posts Send private message

Smiley´s avatar

Very best of luck Kevin and hang in there.  

Rgds


_______________________

Smiley - patrick@marbellamortgages.com  www.marbellamortgages.com   www.comparetravelcash.co.uk




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02 Jan 2007 18:11 by peps Star rating in manchester and duque.... 416 posts Send private message

i am horrified at your experience on completion through HIFX.  i had a very similar experience when transfering my 30%.  they had £40,000 of our money sat in their account for almost a month and never forwarded it on to solicitors in spain. to add insult to injury the interest rate shifted considerably that month so we lost money there too.  they were very appologetic and assured us it doesnt happen ever with them. (obvously does after reading your post). i am now worried about the transfers for completion.



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02 Jan 2007 18:47 by Smiley Star rating in San Pedro de Alcanta.... 2437 posts Send private message

Smiley´s avatar

Hi Peps nothign to stop you opening an account with another broker.

Rgds


_______________________

Smiley - patrick@marbellamortgages.com  www.marbellamortgages.com   www.comparetravelcash.co.uk




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03 Jan 2007 17:44 by kevinm Star rating in Somewhere so nice, i.... 25 posts Send private message

*** UPDATE ***

HiFX sent me a CD today with recordings of some of my conversations with them. Unfortunately there are only 4 recordings, and all the ones of HiFX telling me about their system upgrade problems (and admitting liability) are missing. So is the recording of the call made by HiFX to our lawyer. They claim to be unable to trace the calls without the originating telephone number. I am sending details of the calls I made from my foreign mobile and will again await their response. However, as calls made from abroad generally route through analogue exchanges the Caller ID is often lost in the process.

It's amazing to think that they do not tie in my recordings with my client number - it makes it a pretty naff system, especially as they will not speak to you until they have verified who you are (using your client number...).

I found out today that the FSA regulation is only for other divisions of the company where advice is given - it does not affect the money transfer side of the business.

Further updates to follow.




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03 Jan 2007 17:54 by kevinm Star rating in Somewhere so nice, i.... 25 posts Send private message

P.S. The figure we are talking about here is 99,100€



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04 Jan 2007 12:17 by kevinm Star rating in Somewhere so nice, i.... 25 posts Send private message

**** HiFX SCREW UP AGAIN ****

See Leema's experience here:

http://www.eyeonspain.com/Secure/ForumPosts.aspx?thread=242&dev=FB38&name=Spanish%20lawyers

More evidence to show that when they get it wrong they do it in style - and then walk away from you.




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04 Jan 2007 14:38 by alanwspencer Star rating in Hertfordshire/Duques.... 341 posts Send private message

alanwspencer´s avatar

I have always used MoneyCorp to transfer money. So far no problems and their rates appear to be comparable with others and of course far superior to banks.

Alan


_______________________
To Dare Is To Do



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08 Jan 2007 15:50 by D George Star rating. 1 posts Send private message

** EDITED ** Please respect terms of posting



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09 Jan 2007 16:03 by PhilStephenson Star rating. 2 posts Send private message

Hi, just thought I would let you all know that one of the best companies I have found for transfering money is Currency Matters Tel +441695581668 ask for Blair and tell him Phil Stephenson has put you in touch, great service. 



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17 Jan 2007 19:37 by markbodega Star rating. 5 posts Send private message

To all,

As Marketing Director of HIFX may I take this opportunity to personally apologise for any poor customer service that users of EyeonSpain may have experienced.  James and Warren who run our Back Office have also asked me to pass on their sincere apologies.

Every year, HIFX invests in new technology to further improve the levels of customer service we provide.  As part of this ongoing investment we recently implemented a new straight through processing solution to give our customers access to faster, more secure payments and receipts.  Unfortunately, as a result, a very small number of customers experienced substandard service.

As the UK’s leading independent currency specialist, we take all customer service issues very seriously.

I would therefore like to encourage users of this board who have experienced issues with our service to contact me directly. I would also like to encourage any HIFX customer reading this post to again contact me personally with any specific feedback or comments relating to the service they received.

We are constantly sent letters from customers congratulating us on the courteous, simple and cost effective service we provide and the friendly nature of our staff. However as an organisation which is continually striving to improve customer satisfaction and the services we provide, we need to hear the negative comments too.

If you feel there are any aspects of our service which could be improved please let us know immediately and we will endeavour to address the issues as a matter of priority.

Yours sincerely.

Mark Bodega
Marketing Director
HIFX PLC
+44 (0)1753 751776
mark.bodega@hifx.co.uk




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29 Jan 2007 19:25 by kevinm Star rating in Somewhere so nice, i.... 25 posts Send private message

To all

Having recently returned from another trip to Spain to take possession of our property and finding the email from Mark Bodega, I  have just sent him an email to ask him to look into my case. I await a reply.

I will keep you updated.

Kevin




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05 Feb 2007 11:02 by kevinm Star rating in Somewhere so nice, i.... 25 posts Send private message

UPDATE:

HiFX Bad Manners!

Unfortunately there is no update as no-one at HiFX has had the cortesy to acknowledge my email.

I will keep eveyone (including my UK solicitor informed.

Kevin




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05 Feb 2007 11:29 by JeansSis Star rating. 2512 posts Send private message

JeansSis´s avatar


This message was last edited by JeansSis on 5/17/2007.



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