{"id":385,"date":"2024-07-03T11:29:18","date_gmt":"2024-07-03T09:29:18","guid":{"rendered":"https:\/\/curiara.com\/europa\/?p=385"},"modified":"2024-07-03T11:29:18","modified_gmt":"2024-07-03T09:29:18","slug":"small-world-closes-its-doors","status":"publish","type":"post","link":"https:\/\/curiara.com\/europa\/en\/small-world-cierra-sus-puertas\/","title":{"rendered":"Small World closes its doors: What has happened?"},"content":{"rendered":"

Last month, an unexpected blow shook thousands of families who depend on food aid. international remittances<\/strong>. Small World<\/strong>a company renowned for its money transfer services<\/strong>announced the immediate closure of its worldwide operations.<\/p>\n\n\n\n

Overnight, the money sending and receiving transactions<\/strong> were paralysed, leaving thousands of users in uncertainty and despair. <\/p>\n\n\n\n

News of the closure spread like wildfire, generating an outpouring of reactions on social networks and in the media.<\/strong> <\/p>\n\n\n\n

The affected families<\/strong> have shared their stories with anguish and confusion. The money that they had sent to their families, and which they had worked so hard for, may not arrive.<\/p>\n\n\n\n

The remittances sent<\/strong> through money remittance platforms <\/strong>are a vital source of income for many families. And, the sudden disruption of water and sanitation services is Small World<\/strong> has left many people in a difficult situation.<\/p>\n\n\n\n

For this reason, today we tell you what has happened and what alternatives are available for send money to Venezuela <\/strong>if you are living in Europe <\/strong>o United States<\/strong>.<\/p>\n\n\n\n

What happened to Small World? The reasons behind the closure<\/h2>\n\n\n\n
\"small<\/figure>\n\n\n\n

The past 11 June<\/strong>, Small World<\/strong>a company known for its international money transfer services<\/strong>The announcement that it was suspending operations with immediate effect came as a surprise to the world.<\/p>\n\n\n\n

The news came as a bucket of cold water for thousands of customers who depended on Small World <\/strong>for sending and receiving money to and from relatives abroad. <\/strong><\/p>\n\n\n\n

The company, through a message, apologised for the inconvenience caused and offered the following e-mail address soporte@smallworld.com<\/strong><\/a> so that customers could obtain more information.<\/p>\n\n\n\n

Problems with the FCA<\/h3>\n\n\n\n

Small World <\/strong>did not provide specific details about the reasons for the suspension, but according to the newspaper Euronewsweek<\/strong><\/a>the Financial Conduct Authority (<\/strong>FCA<\/strong><\/a>)<\/strong> from United Kingdom <\/strong>played a crucial role in the decision.<\/p>\n\n\n\n

The FCA<\/strong>responsible for regulating the financial sector in the UK<\/strong>had detected a series of regulatory breaches by Small World<\/strong>. <\/p>\n\n\n\n

These included problems related to competition and lack of transparency in the exchange rates.<\/strong><\/p>\n\n\n\n

In particular, the FCA<\/strong> discovered that Small World<\/strong>together with two other money transfer companies<\/strong>had coordinated the exchange rates<\/strong> for certain customers in Glasgow,<\/strong> violating competition rules. <\/p>\n\n\n\n

This discovery led to the imposition of a fine <\/strong>from \u00a3139,500<\/strong> a Small World.<\/p>\n\n\n\n

Operational and financial problems<\/h3>\n\n\n\n

In addition to the regulatory problems<\/strong>, Small World<\/strong> also faced operational and financial challenges<\/strong> significant. <\/p>\n\n\n\n

These problems included difficulties in maintaining an adequate technological infrastructure for managing the volume of transactions <\/strong>y ensuring security <\/strong>of them.<\/p>\n\n\n\n

Customers began to report delays in transfers<\/strong> and customer service problems, which aggravated the company's situation.<\/p>\n\n\n\n

The combination of regulatory fines, operational problems and the intervention of the FCA <\/strong>could be what led to Small World<\/strong> to take the difficult decision to suspend operations.<\/p>\n\n\n\n

A farewell affecting thousands of people<\/h2>\n\n\n\n
\"Affected<\/figure>\n\n\n\n

The abrupt closure of Small World Financial Services<\/strong> has left thousands of users around the world in a complicated situation. <\/p>\n\n\n\n

For many, the remittances sent<\/strong> through the company were a economic lifeline<\/strong>a vital source of income <\/strong>which allowed them to supporting their families abroad<\/strong>. <\/p>\n\n\n\n

The sudden suspension of these services has plunged these families into deep uncertainty and financial hardship.<\/p>\n\n\n\n

For example, Vianela Cust\u00f3dio<\/strong>, resident in Spain<\/strong>is a heartbreaking example of the impact of this decision. <\/p>\n\n\n\n

She had eagerly sent \u20ac9,000 for the purchase of a plot of land at the Dominican Republic<\/strong>a dream that is now vanishing before their eyes. <\/p>\n\n\n\n

The money is in limbo, trapped in the ruins of the Small World<\/strong>Now she faces the bleak prospect of losing all her savings earmarked for this crucial purchase.<\/p>\n\n\n\n

Nara Baracho<\/strong>, resident in Switzerland<\/strong>has also fallen victim to the unexpected suspension. In the hope of helping his son in Brazil<\/strong>800 to cover his university fees. <\/p>\n\n\n\n

However, the money never reached its destination, leaving the young man without the necessary resources to continue his studies.<\/p>\n\n\n\n

These are just some of the testimonies, collected by the newspaper Euronewsweek<\/strong><\/a>of the thousands of families that have been affected by the closure of the Small World.<\/strong> <\/p>\n\n\n\n

Desperation, uncertainty and fury in the networks, as the media search for answers<\/h2>\n\n\n\n
\"news<\/figure>\n\n\n\n

The news of the closure of Small World<\/strong> spread rapidly in the social media<\/strong>The situation has been a wave of reactions filled with frustration, despair and desolation. <\/p>\n\n\n\n

The company's users, now victims of this abrupt decision, flooded the digital platforms with their stories and complaints.<\/p>\n\n\n\n

User complaints<\/h3>\n\n\n\n

One of the aspects that most exasperated the customers<\/strong> was the fhigh level of clear communication <\/strong>and timely by Small World<\/strong>. <\/p>\n\n\n\n

The company did not provide detailed information on the reasons for closure<\/strong> nor on the steps to be taken to recovering funds.<\/strong> This alack of transparency<\/strong> only aggravated uncertainty and unease among users.<\/p>\n\n\n\n

Many users found themselves in the agonising situation of having money stuck in limbo<\/strong>without knowing whether they would be able to get it back. <\/p>\n\n\n\n

Uncertainty about the destination of their funds and the lack of concrete responses<\/strong> by the company generated deep despair among those affected.<\/p>\n\n\n\n

Media amplifies the voice of those affected<\/h3>\n\n\n\n

The media <\/strong>were no strangers to this situation.<\/p>\n\n\n\n

Several media outlets reported on the closure of Small World<\/strong>giving a voice to the stories of affected users and<\/strong> questioning the company's management during this critical period.<\/p>\n\n\n\n

These moving stories made it possible to make visible the magnitude of the problem<\/strong> and the need to find urgent solutions.<\/p>\n\n\n\n

In addition, they also focused on analysing the company's management during the crisis. They questioned the lack of transparency, the absence of contingency plans and the lack of<\/strong> and the alack of empathy<\/strong> towards users.<\/p>\n\n\n\n

Curiara, an alternative to Small World<\/h2>\n\n\n\n
\"Curiara<\/figure>\n\n\n\n

In this difficult situation, we want to help you to be able to continue sending money to your loved ones in Venezuela<\/strong> without any problem.<\/p>\n\n\n\n

At Curiara<\/strong><\/a>We are aware of how important this money is for you and how important it is for your families.<\/p>\n\n\n\n

For that reason, this platform is designed to make it easier, safer and more reliable to remittances to Venezuela. <\/strong><\/p>\n\n\n\n

A application by Venezuelans for Venezuelans<\/strong> who have been in your shoes.<\/p>\n\n\n\n

What makes Curiara different?<\/h3>\n\n\n\n