Corporate Social Responsibility

We recognise that as the UK’s biggest supplier of Foreign Exchange, we are part of the Tourism Industry and consequently contribute to negative impacts on environments, economies and communities. As a responsible FX provider and employer, we are committed to embedding sustainable practices in our product development and operations.

We are aware of our most material, indirect, carbon emissions, and work closely with our suppliers and stakeholders to improve and reduce where we can.

Our direct emissions are monitored closely as part of our compliance with UK requirements, and we have worked hard to reduce these with a carbon reduction plan.

• Reduction of floor space in key office locations
• Installation of LED lights at the Distribution Centre in 2022
• Electric vehicle salary sacrifice scheme favourably impacts emissions from Business Mileage and employee commutes
• Relocation of data servers to an offsite provider in summer of 2024 reduced energy consumption at our main
• Installation of solar panels in Winter 2024
• Includes 2 EV Charging points
• Relocation of 2 key premises to more energy efficient buildings
• Our Travel Money Card is made from a combination of recycled plastic and biodegradable material
• We have introduced recycled and recyclable plastic bags for currency notes
• Recycling of IT hardware through a 3rd party charity partner, plus options with Lenovo offset scheme
• Corporate charity partnership with Just a Drop

First Rate is committed to eliminating discrimination and encouraging diversity in its workforce. We aim to create a culture that respects and values each other’s differences, that promotes dignity, equity, and inclusion to encourage individuals to develop and maximise their true potential.

We monitor our Employee Diversity Data, as well as surveying Employees annually, to gather insight and feedback around Inclusion at First Rate. This helps us address areas for improvement, to ensure all of our employees can thrive at work.

• Training on ED&I
• Focus on ED&I by the Shareholders Board and Executive Committee
• Diversity at senior levels in the business
• Employee Network Resource Group and other Employee Support Groups
• Charity and Community Action

Just a Drop have been First Rate’s Charity Partner since 2024, and one we have worked with in previous years. Their sustainable projects provide support to communities, such as through the construction of hand-dug and drilled wells, pipelines, sand dams, rainwater harvesting systems and latrines, and hygiene and sanitation programmes. Just a Drop have reached over 1.9 million people in 32 countries since they began in 1998.Their project work is currently focused in Cambodia, India, Kenya, Nicaragua, Uganda and Zambia.

In 2024-25, we sponsored 2 schools in Kenya; Matiani Girls School and Kalaani Secondary School. This work benefited a total of 215 children across both schools and involved installation of a rainwater harvesting tank, hand washing stations, soap making and menstrual hygiene classes.

The impact of the project at each school was: 

• Children have sufficient water to drink and to cook with
• They are healthier and able to spend more time in school, with time not lost to illness 
• The school will be able to develop using the money previously spent on water – for new classrooms, or for growing food
• There will be extra water to address hygiene issues at the school, leading to improved long-term health
• Girls will stay in school and receive a better education – they can manage menstruation hygienically, freely, with dignity, without stigma and with access to the right information