News & views

07 September 2009

P&O Ferries launch new online foreign exchange service

• First Rate Exchange Services appointed to provide new online offer

First Rate Exchange Services (First Rate) has today announced its appointment as the provider behind P&O Ferries new online travel money service.

P&O is the first UK ferry operator to offer customers an online foreign exchange service, which also includes currency advice and secure online payment. First Rate will provide the fully integrated service for P&O, which will offer customers the choice of 70 foreign currencies, notes and travellers cheques which can be ordered online for delivery the next day and all at 0% commission.

Gordon Gourlay, Managing Director, First Rate said: “We are delighted to have been chosen as the provider of P&O’s new online currency service. The internet is an essential tool for travellers looking for the best and most convenient deals to meet their travel needs. Not only will this new online service allow P&O to offer customers even greater value and convenience, it will of course also provide an additional new revenue stream too.”

Joe Ciantar P&O Ferries Head of Financial Services said: “We’re sure our customers will welcome the convenience of being able to order currency at the same time as making their ferry booking. Whether buying euros for a day trip to France or stocking up on more exotic currencies if their final destination lies further afield, I’m sure they’ll appreciate having easy access, combined with quick and convenient delivery, to the widest range of great value 0% commission currencies.”

First Rate’s appointment as the provider behind P&O Ferries’ new foreign currency offer confirms its position as the market leader in wholesale foreign exchange services.  First Rate’s other clients include The Post Office®, Abbey National and easyJet.

Notes to Editors:

The Travel Money Online service allows customers to order and pay online for over 70 currencies, however next business day delivery cannot be guaranteed for less mainstream currencies.

About First Rate Foreign Exchange Services:

First Rate is the UK’s leading provider of foreign currency services supplying over 11,500 retail outlets with a foreign currency service. It is the UK’s biggest foreign currency notes supplier and Europe’s major provider of traveller’s cheques and in the top five globally. First Rate sources currency through its associate business unit Bank of Ireland First Currency Services, one of the world’s leading wholesale currency operations.

First Rate can provide UK retailers and businesses with the following foreign currency services:

• Travel Money Online – a service enabling the ordering of foreign currency notes and traveller’s cheques securely via First Rate’s white label internet application
• Bulk provision of currency for currency retailers
• End-to-end consumer order processing – totally outsourced, white label currency solutions for phone, internet or retail outlet order placement

To find out more visit www.firstrate.co.uk.

For further information, please contact:

Four Countries Communications
Ruth Barker
Tel: 0207 749 9219
Mobile: 07814 571128
Email: ruth@fourcountries.co.uk

Bank of Ireland UK Financial Services
Sandra Grandison
Tel: 0203 201 6509
Mobile: 07912 298013
Email: sandra.grandison@boiuk.com

First Rate Exchange Services Ltd is registered in the UK and Supervised by HM Revenue & Customs for Money Service Business (MSB): License number 12133160. First Rate is a joint venture between The Governor and Company of the Bank of Ireland (Registered in Ireland and passported into the UK for regulatory purposes) and the Post Office^® Ltd. The Bank of Ireland is authorised by the Irish Financial Regulator and the Financial Services Authority for the conduct of business in the UK. Bank of Ireland First Currency Services is a division of The Governor and Company of the Bank of Ireland.