Foreign exchange: is your money safe?

The collapse of a leading foreign currency firm “Crown Currency Exchange”, which leaves thousands of customers without funds, raises a lot of questions about how safe your money is when you use such a company to order  your foreign money. The company had been offering foreign currency at the best rates and it was registered with the Financial Services Authority which is permitted to check the people running the company and to edit some rules but obviously that doesn’t guarantee the safety of a payment institution. Paying for currency with a debit or credit card is more safe because you can profit from the protections those cards can offer, like asking for a refund.  A new way of avoiding problems is to use a prepaid currency card that you load up online before you go. (guardian)

Sharon Persyn