History

First Rate has been supplying foreign exchange services to the Post Office® since 1994. We instigated a number of innovations, including 0% commission which revolutionised the FX market and led the Post Office® to become the largest supplier of foreign currency in the UK.

First Rate became a joint venture between the Post Office® and Bank of Ireland Group in 2002.

Key Milestones

1994

Commenced supply of consumer FX to the UK Post Office®

2001

Bank of Ireland First Currency Services (Wholesale FX) created

Implementeded the first 0% FX commission for consumers in the UK

2002

Became FX Joint Venture between Post Office® & Bank of Ireland

Opened our first distribution centre

2007

Post Office® voted Best Travel Money Provider

2008

Extended service provision of consumer FX to UK market

Corporate partnership with Institute of Travel & Tourism

Post Office® voted Best Travel Money Provider for the 2nd Year runnin

2009

First Rate Exchange Services launches International Payment service with HiFX

Post Office® voted Best Travel Money Provider for the 3rd Year running

2010

Corporate partnership with UK Inbound

Post Office® voted Best Travel Money Provider for the 4th Year running

2011

First Rate win Travel Sector category in ‘Top 50 Call Centres for Customer Service’

Developed partnership with London & Partners to leverage inbound tourist opportunities

Post Office® voted Best Travel Money Provider for the 5th Year running!

2012

Introduced enhanced Travel Money Online platform

Post Office® wins ‘Best New Pre-Paid Card 2012’ at the UK Card and Payment Awards

Travel Money Card range extended to include 5 additional currencies.

Post Office® voted Best Travel Money Provider for the 6th Year running at British Travel Awards

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