SGM - FOREIGN EXCHANGE LIMITED

www.sgm-fx.com

41 Eastcheap
London
EC3M 1DT
United Kingdom
(full details)

Current FCA status for firm: Authorised Electronic Money Institution
Payments and e-money, for example, online wallets and money transfers: Some permissions
This firm has our permission to carry out some activities in your chosen category. See below to find out what this firm can do.

What this firm can do

  • Transfer money for you, for example, sending money overseas. This includes cash transfers.
  • Let you deposit cash into an e-money account, for example, through an ATM or over the counter.
  • Let you withdraw cash from an e-money account, for example, through an ATM or over the counter.
  • Make payments for you by direct debit, debit card or bank transfer, including standing orders.
  • Make payments for you by direct debit, debit card or bank transfer using an overdraft.
  • Issue cards and create different ways for you to make payments, for example, via an app.
  • Issue a prepaid means of payment, like a prepaid card or online account, that you can use to make purchases or other payments to third parties.
  • Let you make purchases through online banking, instead of using more traditional methods like credit or debit cards.
  • Give you access to an electronic dashboard where you can see information from different payment accounts in one place.

What this firm can't do

  • Create an account to transfer money.
  • Make payments without your consent.

Next steps

This firm has some permissions for the product or service you selected. Make sure you ask the firm if it has permission for the exact product or service you need.

You can also:

  • speak to us if you’re struggling to check any details about this firm, or have questions about Firm Checker
  • check MoneyHelper for free financial guidance that's backed by Government

Protection if something goes wrong

If you want to complain

If you feel like you've been treated unfairly, or if something goes wrong with a financial product or service, you can complain. Get in touch with the firm using its complaints contact details. You can find these by clicking on the 'full details' link at the top of this page.

If you're unhappy with the firm's response, you can make a complaint to the Financial Ombudsman Service.

Find out more about how to complain.

If a firm goes out of business

If you use this firm for the activities listed under 'What this firm can do', you won't be able to claim compensation from the Financial Services Compensation Scheme (FSCS) if the firm goes out of business owing you money. This is because payment services aren't covered by the FSCS.

Learn what products and services the FSCS covers, or find out more about using payment service providers. 

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