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

Post Office Travel Money Card is an electronic money product issued by First Rate Exchange Services Ltd pursuant to license by Mastercard International. First Rate Exchange Services Ltd, a company registered in England and Wales with number 4287490 whose registered office is Great West House, Great West Road, Brentford, TW8 9DF, (Financial Services Register No. 900412). Mastercard is a registered trademark of Mastercard International Incorporated.

Top