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Money Transfer Companies

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Money Transfer Companies

Post by Dave on Mon Sep 21, 2015 6:13 pm

Has anybody had any dealings with Foremost currency Group?
Im hearing that 'somebody' asked for a quote to transfer money, and found Transferwise to be a lot cheaper so used them.
Now some guy called david Worthington at Foremost Currency Group is sending emails saying that they have to pay a transfer fee, even though they didn't use them.
The only contact details they have is a mobile number and email, so I don't see what they could do anyway?
Not the way to go about treating a potential new customer, me thinks.

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Re: Money Transfer Companies

Post by Dave on Mon Sep 21, 2015 8:22 pm

Ive just been emailing these roaches. Basically, what happened is the 'pushy salesperson' took advantage of the prospective client and asked if she would like them to secure an amount. She said yes please not realising that they would hold her to having said amount of money for transfer. (Lets not forget she hasn't transferred any amount or been advised that this was a binding contract) She then found them to be a lot more expensive than Transferwise, who she decided to use.

This is from the email I received this afternoon from David Worthington and Richard Beaumont:

"We have purchased the Euros at *****'s execution at 1.3510, costing £17,959.67. As this trade was unsettled we were forced to sell the Euros back to the open market today at a rate of 1.384451 returning £17,515.97, resulting in a market loss of £433.70."

So they are claiming that she owes them the £433.70

Just bear this in mind before asking Foremost Currency Group for a quote to transfer money abroad.

Oh, and my reply to them was " would you like ****'s address so that you can pursue her for YOUR loss?

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Before you judge a man, walk a mile in his shoes. That way when you judge him, you will be a mile away, and have his shoes...


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Re: Money Transfer Companies

Post by Him & Her on Mon Sep 21, 2015 11:25 pm

We have used Foremost on many occasions and in our experience we have found them to be very professional, it has always been stressed that the rate agreed is a legally binding contract, we can only speak as we find and have had no complaints, so far.

Mind you we might try Transferwise next time, always looking for the best rates Very Happy

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Re: Money Transfer Companies

Post by Dave on Tue Sep 22, 2015 10:28 am

Him & Her wrote: it has always been stressed that the rate agreed is a legally binding contract,

Thats what they would like you to think, which it would appear is possibly breaking the law.
Heres there terms and conditions:

3. FRAMEWORK AGREEMENT
This Framework Agreement is a framework agreement which sets out the terms of (a) You and Us entering into Contract(s); (b) the use of the Website, Foremost Connect and Our Online Trading Facility. Before You will be able to enter into Contracts with Us You are required to:
(a) read these Terms, complete the sections required, provide the information required and either (i) sign Section E of this Framework Agreement and return to Us a signed copy of the Framework Agreement in the event that You received Your application by post, fax or email or (ii) tick the box online confirming the accuracy of the information provided online and Your agreement with these Terms; and
(b) provide Us with such documentation as We may reasonably request to comply with Our obligations to the Financial Conduct Authority (“FCA”) under the Electronic Money Regulations 2011, to HM Revenue and Customs under the Money Laundering Regulations 2007 and to any other competent body which may have jurisdiction
in relation to the subject matter of this Framework Agreement.
Once You have completed the above and You have passed Our internal checks, We shall make available to You the Trading Facility and the Online Trading Facility so that You can enter into Contracts. We shall also make Foremost Connect available to You upon request. By accessing Foremost Connect and the Online Trading Facility or otherwise indicating Your consent as set out above, You agree to be bound by the Terms and the Privacy Policy.

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Before you judge a man, walk a mile in his shoes. That way when you judge him, you will be a mile away, and have his shoes...


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