Robin McEwen founded Foremost Currency Group, in 2005 with one thing in mind: to make a commitment to shaking up the FX market by operating in a smarter, leaner and more efficient way to transfer currency.
Why did you choose to set up a currency exchange business?
When working in the financial services industry (early 2000s) I identified an opportunity to set up a currency company which could operate in a leaner, smarter and more efficient way, passing savings onto customers and providing a tailored customer service.
What makes you feel good about going to work each day?
I’m proud that 98% of our customers would recommend us and that we stay true to our core beliefs of exceptional service, in-depth market knowledge, saving our customers money and our staff really enjoy working for us.
How important is security to your staff?
Extremely important, our customers funds are held in segregated accounts at Barclay’s PLC. We are authorised by the Financial Conduct Authority as an e-money issuer and our Dun & Bradstreet credit rating is a 2A1, showing our financial strength and extremely low risk.
Why do business and personal customers use a currency exchange service?
Banks are good at some things. However foreign currency exchange isn’t their core business. It is an area which requires a high
level of expertise and we have the facility to offer rates that are better than high street banks. I believe in the ‘old fashioned way of banking’ where customers are given a dedicated, knowledgeable account manager to look after them from start to finish with no automated phone systems.
What type of customers do you have?
Private and Business customers. Private customers can be anyone transferring a mortgage or pension overseas, through to buying a second home abroad. Business customers can be small traders or shops importing goods, through to large corporations.
Why do your customers select you over your competitors?
Money doesn’t change wherever you buy it, a Euro is still a Euro and a Dollar is still a Dollar, but our quality service, better exchange rates and knowledgeable brokers are key to our success.
Why did you choose to run an international currency exchange business in Tring, Hertfordshire?
Modern technology dictates that you can be located anywhere now. In Tring we can keep overheads low which means we can pass on our saving directly to our customers. On a personal level, I have a young family and wanted to be able to read bedtime stories and have some play time in the evenings rather than commuting.
What are your brand values?
- Excellent Customer
- In-depth Market Knowledge
What is your management style?
Open, fun, fair and honest. Foremost Currency Group is built around the staff that work here and if they are happy, this is passed on in the experience customers receive.
What is the future for this type of business?
The market place is enormous; $5.3trillion is traded every day on the FX markets, giving plenty of room for us to expand and continue to grow yet ensuring we remain true to our brand, offering exceptional customer service combined with saving our customers money.