Following a company sale, I recently received a large US dollar amount. Although my natural inclination was to let my clearing bank deal convert it into sterling, I soon realised this would present two problems. Firstly, the rate charged would be uncompetitive and secondly it would be difficult to speak to a knowledgeable person to ensure everything went smoothly. All enquiries at my clearing bank led to a long queue in a call centre and a different, inexperienced operator each time.
SGM-FX exceeded my expectations in both areas. The rates charged were highly competitive and transparent (with no unexpected fees). More importantly, the level of service and professional duty of care could not have been better. Being able to talk to the same professional throughout the period before and after the transaction provided a level of assurance which was not possible with the clearing bank. I not only saved thousands on the rate, but also received the correct currency in the correct account very promptly with plenty of communication along the way.
I realise there are other operators in this space who pride themselves on low rates but, as I now realise, it is the combination of professionalism, service and rate which is essential. I would therefore be happy to recommend SGM-FX to anyone with foreign currency service needs.