“Customers’ complaints regarding the provision of currency exchange services provided by cinkciarz.pl are known to the Commission Office; among others, in connection with these events, activities are being carried out by the Polish Financial Supervision Authority in relation to the activities of Conotoxia sp. z o. o. and cinkciarz.pl,” the Commission informed PAP. Financial Supervision Authority on Tuesday. In this way, she referred to information transmitted by the media about delays in the execution of currency exchange orders ordered by customers.
Customers of Cinkciarz.pl complain about delays in currency exchange and money transfers. “I have had over PLN 5,000 blocked for a week,” one of the clients told TVN24. Another user claimed that he had been waiting for transactions worth PLN 25,000 for 10 days. euro (over PLN 100,000).
Despite the disruptions, the website continues to accept new deposits. He attributes the situation to technical problems that may last until the end of October.
As explained by the Polish Financial Supervision Authority, the activities of online currency exchange offices, such as cinkciarz.pl, are not regulated and are not subject to the supervision of the Polish Financial Supervision Authority. At the same time – as she explained – cinkciarz.pl is the Agent and the sole shareholder of Conotoxia, which is authorized by the Polish Financial Supervision Authority to provide payment services as a national payment institution (KIP).
“Conotoxia sp. z o. o. serves customers of cinkciarz.pl to the extent that, in addition to the currency exchange service, customers of cinkciarz.pl want to use a payment service consisting in the transfer of funds to a recipient other than the customer (e.g. to the account of their foreign contractor or mortgage repayment account at the bank),” it added.
The Office of Competition and Consumer Protection also commented on the matter. “We received 13 complaints from consumers regarding cinkciarz.pl. We are analyzing these signals and do not rule out taking action in the near future,” UOKiK informed PAP on Tuesday.
Source: TVN24, PAP
