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Can't contact money transfer company - £2000

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    I recently used a money transfer company to send £2000 to India. I have used them before and everything was fine that time. That time, the money was recieved 5 days earlier than expected. Now, it has been almost two weeks and family have't recieved a penny. I tried ringing them but I got a message say that the company is temporarily shut down and they will try and rectify the problem as soon as possible.

    What can I do?

    The company is RAK Telecommunications LTD, I used the office off Green Street (on Oakdale Road, Newham). I used them because I'd seen adverts for them in an Asian newspaper called the "Gujarat Samachar".

    I am going to go there and see what has happened but, as I probably expect, they won't be there. What can I do?

    EDIT: Although I have a receipt, I did pay by cash.
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    Sounds fishy. If they have shut down then I can't see you getting your money back.

    Having looked up the company info on the Companies House database there is no sign of them being in financial problems (yet). They did - however - modify the particulars of one of their directors - Mr Ashvinkumar Mehta - toward the end of last month, which could be a sign of a change of operations of some sort. It sounds like the issue you are having has been a fairly recent thing though?
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    (Original post by Tycho)
    Sounds fishy. If they have shut down then I can't see you getting your money back.

    Having looked up the company info on the Companies House database there is no sign of them being in financial problems (yet). They did - however - modify the particulars of one of their directors - Mr Ashvinkumar Mehta - toward the end of last month, which could be a sign of a change of operations of some sort. It sounds like the issue you are having has been a fairly recent thing though?
    Yes! Mr Ashivinkumar Mehta! He was the guy who took my money at the Newham branch!

    I also found a phone number, it was a mobile number, for an agent in another town. I rang it and when I asked the guy if it was that company, he said he'd never heard of it and I was ringing a wrong number and then he put it down. The weird thing was that the address of this particular agent was a flat, rather than a shop.

    I contacted Action Fraud and they told me to report it, but I am a but wary of doing this, just incase it is a genuine problem and they get back on their feet and I've reported them. However at the same time, I don't want to waste time and let them leave the country or whatever (I probably watch too much TV).

    What do you think I should do?
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    (Original post by claret_n_blue)
    Yes! Mr Ashivinkumar Mehta! He was the guy who took my money at the Newham branch!

    I also found a phone number, it was a mobile number, for an agent in another town. I rang it and when I asked the guy if it was that company, he said he'd never heard of it and I was ringing a wrong number and then he put it down. The weird thing was that the address of this particular agent was a flat, rather than a shop.

    I contacted Action Fraud and they told me to report it, but I am a but wary of doing this, just incase it is a genuine problem and they get back on their feet and I've reported them. However at the same time, I don't want to waste time and let them leave the country or whatever (I probably watch too much TV).

    What do you think I should do?

    Well firstly I don't think you should panic. £2000 is not a life-changing amount of money so they aren't likely to leave the country with it like a James Bond baddy.

    Ultimately though if you have gone through the correct channels and are still unable to get in touch with them then you should report it. If I were you I'd seek legal advice. £2000 is worth getting a solictor to write to them but no worth getting a solicitor to represent you in a small claims court. I was told by a solicitor recently that if she was to represent my business in a small claims court their fees would start at £1500. You can - however - represent yourself so make sure you keep all correspondence with them as well as your receipt. The chances are if it got that far then they are not going to have a defence and will try to smuggle your money away into the abyss. The silence might also be a sign that their business is in trouble and if it does go down the toilet then you can kiss your money goodbye.

    Might I suggest you use a much bigger company with a track record to transfer your money in future? A bank or paypal or some other similar? Sure you might pay some fees, but at least you know your money is safe.

    Hope it helps.
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    (Original post by Tycho)
    Well firstly I don't think you should panic. £2000 is not a life-changing amount of money so they aren't likely to leave the country with it like a James Bond baddy.

    Ultimately though if you have gone through the correct channels and are still unable to get in touch with them then you should report it. If I were you I'd seek legal advice. £2000 is worth getting a solictor to write to them but no worth getting a solicitor to represent you in a small claims court. I was told by a solicitor recently that if she was to represent my business in a small claims court their fees would start at £1500. You can - however - represent yourself so make sure you keep all correspondence with them as well as your receipt. The chances are if it got that far then they are not going to have a defence and will try to smuggle your money away into the abyss. The silence might also be a sign that their business is in trouble and if it does go down the toilet then you can kiss your money goodbye.

    Might I suggest you use a much bigger company with a track record to transfer your money in future? A bank or paypal or some other similar? Sure you might pay some fees, but at least you know your money is safe.

    Hope it helps.
    Lol I'm definitely not using a small company like this again!

    Another weird thing happened just now. I tried ringing them again (just) and the phone came up engaged. So I waited a while and then when I tried to ring again, it was that same answerphone message saying they are shut for a while. Do you think this means anything significant?
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    (Original post by claret_n_blue)
    Lol I'm definitely not using a small company like this again!

    Another weird thing happened just now. I tried ringing them again (just) and the phone came up engaged. So I waited a while and then when I tried to ring again, it was that same answerphone message saying they are shut for a while. Do you think this means anything significant?
    This is ridiculous. You don't take £2k of a customer's money to transfer it somewhere, not bother your arse transferring it and then putting a stupid message on a voicemail. I'm pretty certain something fishy is going on and the phone being engaged is just another piece of evidence which is indicative of this.

    Good luck getting your £2k back.
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    I have had the exact same problem.

    Apparently the owner of this company has been arrested for money laundering and the police are currently carrying out an investigation.

    I called the London Borough of Newham, who directed me to Trading Standards who then directed me to the Financial Ombudsman Services, where I filed a complaint but they said they send the complaint through to the company that you are complaining about and then they come to a decision, which will take up to 8 weeks!

    Have you had any luck in trying to retrieve your money back?
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    (Original post by PJ14)
    I have had the exact same problem.

    Apparently the owner of this company has been arrested for money laundering and the police are currently carrying out an investigation.

    I called the London Borough of Newham, who directed me to Trading Standards who then directed me to the Financial Ombudsman Services, where I filed a complaint but they said they send the complaint through to the company that you are complaining about and then they come to a decision, which will take up to 8 weeks!

    Have you had any luck in trying to retrieve your money back?
    With the exact same company? No I've had no luck yet. I filed a report on Action Fraud but they said the same, it'll take a while for them to come to a conclusion Do you have any idea what we could do? It looks like its a loss of money

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Updated: July 20, 2012
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