V-Flyer

I've been into First Choice travel agent offices twice in the last couple of months, both times to change a couple of hundred USD cash into sterling cash. On both occassions, they've basically insisted that I have to give them my name and address 'because it's required by Customs and Excise because of monely laundering' (yes I know they're now merged with the IR).

Are First Choice telling the truth here, or are they simply trying to scavange for names and addresses they can mailshot later, by creating a ficticious government. I asked for the relevant Data Protection statement on this and they could give anything. The manager, then summarily stuffed the notes back under the partition and said, 'well of course if you don't want to give the information, you don't have to change your money here'. Needless to say, I took my money and changed it next door at Thomas Cook - who apparently aren't subject to the same regulatory reqt's as First Choice...

My sense is that FC are simply trying it on, but am I right? If I am I'll take it up with Trading Standards and HMRC, if not, how come Thomas Cook didn't ask for the info.

Thanks.

I Changed money from £ to $ and then back again last month at the Post office without any identification being asked.

-Steve

Edited to add: and that was over £1000 in cash

Just sounds like the typical chaotic English company without decent, clear, unambiguous processes, making stuff up as they go, and muddling by.

Mike

Thanks for posting the link to the real (clear, unambiguous) HMRC policy.

It seems you only have to show a form of ID, which certainly gels with my experience of collecting forex currency. At no time has my address been taken. Driving licence or passport are usually okay.

Mike

Perhaps I am criminally naive but how do you launder money through a bureau de change. Would not the claim:

'I obtained the £100, 000 of cash from various Thomas Cook establishments throughout the country'

provoke a few further questions?

OK, I can answer my own question: It makes sense If the currency to be exchanged has traceable serial numbers or invisible markings - not a complete clean but a pre-wash cycle to remove the most obvious dirt.