Eurochange

Eurochange
Company typePrivate limited company
IndustryForeign exchange
Founded1975
FounderMassimo Gini[1]
Headquarters
Stevenage
,
United Kingdom[2]
Area served
United Kingdom
ParentCorsair Capital
Websitewww.eurochange.co.uk

Eurochange, stylised eurochange, is a British foreign exchange company based in Stevenage. As of 2023, the company operates over 190 physical branches throughout the United Kingdom[3] and also offers home delivery.[4]

History

Eurochange was founded in London in 1975.[1] In 2000, the company changed its name to FX Currency Services, and in 2011, it was renamed back to Eurochange.[2]

In 2014, the company was acquired by ATM operator NoteMachine,[5] itself being owned by Corsair Capital, an American financial services company. In October 2022, it was announced that Corsair was selling NoteMachine to Brink's, but would maintain ownership of Eurochange.[6]

The company won the MoneyAge Travel Money Provider of the Year award four years consecutively from its creation in 2016 until its discontinuation in 2019.[7]

In March 2022, Edinburgh Live stated that Eurochange had the second best exchange rates for U.S. dollars and euros in Edinburgh, out of a range of five companies (Travel FX, Eurochange, Tesco Bank, John Lewis, and Sainsbury's) operating within the city.[8]

In December 2022, the Association of British Travel Agents (ABTA) announced that it would be launching a travel money service in partnership with Eurochange. This service, known as ABTA Travel Money, is the first foreign exchange service operated under the ABTA brand.[9]

Eurochange has seen steady growth in locations, with an average of 30 opening a year since their acquisition by NoteMachine.[10] For example, the company opened an outlet in the Manchester Arndale in 2015,[11] as well as two in CastleCourt[12] and one in The Pavilions in 2018. The company now handles over 2.5 million customer transactions a year.[10]

Services

Foreign exchange

The company offers foreign exchange of over 60 currencies, including the U.S. dollar, euro, and Turkish lira through its physical bureaux de change located on high streets and in shopping centres, as well as online through its own website. The company operates ABTA Travel Money[13] and NatWest Travel Money.[14] The company also offers a multi-currency prepaid debit card through Mastercard's Cash Passport brand.[15]

Eurochange also offers a travel money buy-back service, where customers can sell their unused currency after a holiday back to the company for a fee of £4 for 30%.

References

  1. ^ a b Faulkner, Doug (5 March 2018). "Foreign exchange firm creates five jobs after opening new branch in Norfolk town". Eastern Daily Press. Archived from the original on 16 May 2023. Retrieved 16 May 2023.
  2. ^ a b "Eurochange Limited". Companies House. Archived from the original on 16 May 2023. Retrieved 16 May 2023.
  3. ^ "Branches". eurochange.co.uk. Archived from the original on 16 May 2023. Retrieved 16 May 2023.
  4. ^ "Home delivery". eurochange.co.uk. Archived from the original on 16 May 2023. Retrieved 16 May 2023.
  5. ^ "NoteMachine announces acquisition of Eurochange". Cision. 5 November 2014. Archived from the original on 16 May 2023. Retrieved 16 May 2023.
  6. ^ "Corsair to sell NoteMachine UK ATM division to The Brink's Company". atmmarketplace.com. 10 October 2022. Archived from the original on 17 May 2023. Retrieved 17 May 2023.
  7. ^ "Hall of fame". moneyage.co.uk. Archived from the original on 21 May 2023. Retrieved 21 May 2023.
  8. ^ Buchan, Sophie (29 March 2022). "Best travel money exchange rates and where to get them before you head abroad". Edinburgh Live. Archived from the original on 25 May 2023. Retrieved 25 May 2023.
  9. ^ "Abta enters forex field with bespoke offering". Travel Weekly. 7 December 2022. Archived from the original on 17 May 2023. Retrieved 17 May 2023.
  10. ^ a b "New jobs as Eurochange opens second Uxbridge branch". This is Local London. 19 May 2018. Archived from the original on 21 May 2023. Retrieved 21 May 2023.
  11. ^ Roue, Lucy (8 July 2015). "Eurochange opens new branch at Arndale Centre". Manchester Evening News. Archived from the original on 21 May 2023. Retrieved 21 May 2023.
  12. ^ Deighan, Emma (19 July 2018). "UK bureau de change chain opens two Belfast outlets". Belfast Telegraph. Archived from the original on 21 May 2023. Retrieved 21 May 2023.
  13. ^ "ABTA Travel Money". Association of British Travel Agents. Archived from the original on 18 May 2023. Retrieved 18 May 2023.
  14. ^ "NatWest Travel Money". NatWest. Retrieved 3 July 2023.
  15. ^ "Pre-paid travel money card". eurochange.co.uk. Archived from the original on 16 May 2023. Retrieved 16 May 2023.