First Rate sources wholesale currency through its associated business unit, Bank of Ireland First Currency Services.
Commitment to the banknote market
First Currency Services is a leading wholesale banknote provider with a second-to-none reputation for service and competitive rates. It offers over 70 currencies and a range of value-adding services to First Rate’s clients thanks to a global business presence in 40 countries, associations with 12 central banks, trading relationships with more than 100 commercial banks and half a dozen strategically positioned cash centres.
Reliable and secure service
We recognise the importance of reliability and have implemented extensive service level agreements with our suppliers to ensure the highest standards apply. We only use large established shipping partners to ensure rapid and secure treatment of all shipments.
Compliance assured banknote trading
First Currency Services has an approach of multi-tiered risk management and applies rigorous controls in all parts of the trading and distribution process to ensure full compliance and minimum risk.
Suppliers are subjected to extensive due diligence. All regulatory requirements from UK, US and European authorities are met, monitored and audited as an integral part of the business processes in First Rate.
First Currency Services has a track record of 10 years of flawless performance. All our dealers have many years’ experience in global banknote trading. We know that when it comes to banknote supply, a provider is only ever as good as today’s rates and every day’s service. Over the last 10 years we have shown that we provide competitive rates and impeccable service. Day after day.
First Rate and First Currency Services can seamlessly offer a range of services to our customers including domestic branch distribution, repatriation of ink stained notes, identifying efficient sourcing, storage and exposure management.