Travel FX encountered serious backlogs when queuing up a £1,500 refund. This became an issue after one customer’s special order for Singapore dollars hadn’t shown up. Consumer rights advocates are looking hard at the state of affairs. Consumer lawyer Gary Rycroft has said the way the transaction was structured could violate several laws.
The saga started on July 5, when a customer exchanged £1,500 into Singapore dollars with Travel FX. The assumption was that Royal Mail would be able to deliver the notes the next day. The package was late, and the customer was left without the product and the money they had paid up front for. As days turned into weeks, the hapless customer finally turned to Rycroft for help.
Though the company originally promised a long 74-day wait for a refund, it was issued within three days of Rycroft’s involvement. Rycroft underlined that the length of delay led to important concerns regarding compliance with the Consumer Rights Act 2015. He alleged that Travel FX misled consumers and violated consumer protection laws by not providing goods and services in a timely manner.
Rycroft made clear during the episode that “supply” and “delivery” should not be equated terms in this context. He pointed to an exemption in his favor—one that pertains to the “supply” of currency, which he says makes things even messier. In his mind, when a payment comes out automatically from a customer’s bank account, then the deal is understood. Second, the currency should be delivered in the shortest time possible to influence project selection.
“Unfortunately, Royal Mail’s investigation in this instance has taken longer than usual, which we agree is frustrating for the customer and for us.” – Travel FX spokesperson
The case presents bigger questions about consumer protections in any cash transaction that includes a currency exchange service. It’s imperative for companies such as Travel FX to keep people moving. In addition, they have to be nimble enough to deal with problems as they come up.