Althams Travel: Delivering customer satisfaction through foreign currency

Intro

Althams Travel is one of the UK’s oldest travel agencies, established in 1874, with a proud 150-year history. Today, the business operates 33 stores across the UK, offering customers a wide range of travel services. As part of their customer-first approach, Althams provides foreign currency in-store, giving travellers a convenient, trusted way to access their holiday money

As Managing Director, Sandra McAllister explained: “Foreign currency is very important to us because it’s a good income stream and a strong profit maker. It also gives added value and service to the customer – we like to offer a complete package, so they don’t need to go anywhere else for their holiday needs.”

From Transactions to Trusted Partnership

Althams transitioned to First Rate Exchange Services (First Rate) as part of a wider acquisition by First Rate of the previous provider. As their business grew and customer expectations evolved, Althams needed a reliable, flexible partner who could:

• Provide an uninterrupted transition from their previous supplier.
• Supply all 33 stores with a wide variety of foreign currencies.
• Provide additional value to enhance the customer experience.
• Deliver consistent, high-quality service across their nationwide branch network.

Sandra recalled: “With our previous supplier, it was very transactional – we ordered, it got delivered, we paid. There wasn’t much of a relationship.”

Company accountant Michaela Ingham added: “It was just one contact really, and only when a problem arose.”

A Seamless Transition to First Rate

Althams transitioned their foreign currency supplier to First Rate In 2017. The transition was fully managed by First Rate, ensuring minimal disruption and continuous process for all stores, from file integration to Cash In Transit deliveries.

Michaela explained: “The move was seamless. We hardly noticed any difference, and that speaks volumes. It was just well managed all round.”

Delivering Value at Every Step

worked closely with Althams on various initiatives to enhance their foreign exchange offering. These include:

• Foreign Currency Supply: Ongoing provision of travel money across 33 Althams stores, with access to a wide range of currencies.
• Growth Support: Assisting Althams with the FX requirements of new store openings and re-openings, particularly in the period following Covid. Michaela noted: “Even on tight deadlines, First Rate has never let us down when opening new stores – that’s going above and beyond.”
• Sponsored Collateral: Supplying branded money bags and travel wallets to enhance the customer experience and support the Althams brand. Sandra said: “It’s good advertising for you and valuable for us – every customer leaves with them, so it keeps the service fresh in their minds.”
• Maximising revenue streams: Althams to offer FX as a complimentary service that delivers additional revenue streams. Sandra shared: “Currency stands out among all the add-on services we sell – the profit is valuable, and we make sure our staff maximise opportunities where possible.”
• Knowledgeable Partner: 8+ years of reliable, high-quality service, acting as a long-term trusted partner through times of change. Michaela highlighted: “We’ve always had continuity – The First Rate team know exactly who to call, and that trust is invaluable.”

Tangible Impact Across the Network

• Seamless transition from previous supplier to First Rate with no service disruption.
• Growth in travel money volumes across the Althams network whilst working through wider industry AML (Anti Money Laundering) and Covid challenges.
• Support in scaling operations with new and reopened stores.
• A reliable FX service, and nhance customer experience, such as branded money bags and wallets.
• A customer support team available for day-to-day queries and a relationship manager for escalation and strategic approach.
• 8+ years of partnership, with First Rate consistently delivering first-class service and supporting Althams’ long-term success.

Sandra summed it up: “It’s excellent, speedy, reliable service with strong communication. Even when issues arise, they’re resolved quickly and to everyone’s benefit.”

Looking Ahead Together

Through its long-standing partnership with First Rate, Althams has been able to provide a reliable, customer-friendly foreign currency service across its 33 stores, with advice on products or services at hand should the need arise. With consistent support to the daily challenges, and a focus on growth, Althams continues to benefit from a partnership built on trust, service quality, and shared success.

Sandra summed it up: “First Rate provide an excellent foreign exchange service with a professional and helpful sales team, helping us maximise customer satisfaction.”