On 1st November 2009 the Financial Conduct Authority (FCA) became responsible for UK based firms sending money on behalf of customers. The FCA have set out rules on how firms like us must treat our customers and protect your money.
Check the firm
We are authorised and regulated by the FCA under the Payment Services Regulations 2009 as a Payment Institution (PI), our registration number is 503906. Our status is that of authorised PI (for whom the criteria is more strict than a small PI). This means that the FCA has checked that the Foremost Currency Group (FCG): is properly organised and is run by suitable people who have not been convicted of financial crimes; has enough money behind it and has proper arrangements in place to protect customers' money in the unlikely event that it gets into financial difficulty.
An authorised firm must safeguard your money – this means your money must be kept separate from FCG’s money. At FCG we have segregated client accounts . We have a 1A2 Credit Rating from Dun and Bradstreet, the global ratings agency. Our 'DUNS' number is: 347428026.
The UK Money Transmitters Association (UKMTA) and The Association of Foreign Exchange and Payment Companies (AFEP)
The UKMTA and AFEP represent Money Service Businesses registered with HM Revenue and Customs for the purpose of money transfers and works closely with the FCA with regards to the Payment Services Directive, anti-money laundering regulations and industry best practice. The Foremost Currency Group are active members of both the UKMTA and AFEP and our Managing Director sits on the Executive Board of both Associations.
Our Customer Charter
Our commitment to you is as follows. Before agreeing a transaction we will provide you with: a copy of our Terms and Conditions of Trade and our Trading Agreement; your own unique account code with FCG; how much it will cost to send your money; the exchange rate that will apply to your transaction; information on cancellation procedures and any charges that would occur. Upon Completion of a transaction we will provide you with in writing: a contract note which will have; a unique transaction reference number for your payment; confirmation of the exact amount we are sending for you; any costs you have paid to cover Telegraphic Transfer fees or Banking Receipts; the exchange rate and currency you have secured.