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Terms and Conditions

Online Currency Ordering Service: A service provided by First Rate Exchange Services Limited on behalf of the referring website owner (the "Website Owner")

1. Provision of Services

This online service for the provision of foreign currency and/or traveller's cheques (“this Service”) is provided for and on behalf of the Website Owner (as defined below) by First Rate Exchange Services Limited, a company registered in England and Wales under company registration number 04287490 (Money Service Business licence number 12133160), whose registered office is at Great West House, Great West Road, Brentford, TW8 9DF England (“First Rate”).

You have accessed this Service via a direct link from a website (“the Website”) operated by a third party (“the Website Owner”).

The Website Owner may use your personal information to communicate with you in connection with this Service or for marketing or research purposes. You should acquaint yourself with any privacy policy which appears on and/or may be accessed via the Website. First Rate will not be responsible for any contact made with you or any material supplied to you by the Website Owner or any third party.

If you do not wish to receive communications from the Website Owner you should follow the relevant instructions contained in the Website Owners' privacy policy or notify the Website Owner of that wish.

These Terms and Conditions apply to this Service.

This Service is available to individuals aged 18 years or over, resident within the U.K. Orders can only be placed by registered cardholders of the payment cards used for paying for the orders.

Please note that these Terms and Conditions are available only in English and you agree that English shall be the only language used by First Rate to communicate with you during and for the provision of this Service.

2. Agreement

By utilising this Service you confirm that you (1) are at least eighteen (18) years of age, (2) are the registered holder of the payment card, (3) acknowledge that you have read and understood these Terms and Conditions and (4) agree to be bound by them and to comply with all applicable laws and regulations. You also agree to use this Service to order foreign currency and traveller's cheques for holiday or business travel purposes only.

3. Important Notice

Please note that the provision of foreign currency and traveller's cheques involves special risks which may affect the value of an order placed by virtue of fluctuation in exchange rate as a result of changes in financial markets. Please note that such changes are outside of the control of First Rate and the Website Owner and, in extreme situations and without prior warning, may affect the provision of this Service. In such cases, First Rate shall have the right to cancel your order. Please see Section 10 (Order Changes and Cancellation). You should be aware that the historical performance of a foreign currency is no indicator of its future performance.

4. Orders

You agree to provide the information required to process your order. A minimum order value and maximum order value limit for foreign currency and traveller's cheques may apply and, if applicable, will be detailed on the online ordering screen. The maximum value applies over any two-week period. First Rate reserves the right to amend these limits from time to time.
First Rate only stocks certain denominations of the foreign currencies listed on the online ordering screen and you agree that you will place your order in accordance with the denominations available, failing which, you agree that your order will automatically be rounded to the next available denomination. Accordingly, First Rate reserves the right to vary order values, from time to time, at its discretion, without notice and without liability to you.

To place an order, follow the instructions on the online ordering screen. First Rate reserves the right to request further information from you at any time to enable First Rate to complete your order and/or to comply with regulatory requirements. It is therefore important that you provide correct contact details so First Rate can reach you should it need to obtain further information to process your order. Please note if First Rate is unable to contact you this may result in your order not being completed and a full refund being applied to your card. First Rate reserves the right not to conduct business with you for any reason at First Rate's absolute discretion and you will be notified of any such decision.

A delivery charge may be applied to your order and, if applicable, will be detailed on the online ordering screen. First Rate reserves the right to amend this charge from time to time.

By placing the order, you confirm that the details contained in the order are correct in all respects. The system will display a confirmation screen setting out the details of your order. This confirms receipt of your order. A contract between you and First Rate is formed when your credit or debit card payment has been accepted by First Rate. Please print a copy of the confirmation screen for your records.


5. Foreign Currencies and Rates

This Service is only available for the currencies listed from time to time on the online ordering screen. The exchange rates quoted by First Rate may be updated at any time. Should extreme fluctuation in the exchange rate occur between you placing your order and the dispatch of your order, First Rate shall have the right to cancel your order as per Section 3 (Important Notice).

Please note that if you are arriving in the UK from a country outside the European Union (EU), or you are leaving the UK to travel directly to a country outside the EU you must declare any cash of 10,000 euros or more (or its equivalent in other countries). This must be done by completing a Cash Declaration form (C9011). For this purpose, cash covers notes and coins in any currency, bankers’ drafts, and cheques of any kind, including traveller’s cheques. To obtain a Cash Declaration form, please visit www.hmrc.gov.uk. It is your sole responsibility to meet the currency import and export measures and requirements of the U.K. and any country you may be visiting. First Rate shall have no liability whatsoever in relation to any losses, damages or claims you may suffer as a result of your failure to comply with these measures or requirements.

Please note that foreign currency availability may be subject to monetary limits, currency exchange restrictions and anti–money laundering regulations.


5.1 Promotional Codes

From time to time, First Rate may offer discounts on specific orders. For the discount to apply, a Promotional Code must be entered in the 'Promo Code' box displayed in the Order Summary. Promotional Codes will be notified separately to participating customers, by whatever means First Rate deem relevant. Discounts will be in the form of an improved exchange rate, resulting in a reduction of the Sterling amount payable for a given amount of foreign currency. The system will notify you if the Promotional Code entered is valid and is applicable to the order being placed. Promotional Codes are available to participating customers only, cannot be transferred and can be withdrawn, suspended or amended without notice. Promotional Codes are valid for the duration of the promotion only. A minimum and/or maximum spend may apply to the Promotional Code. Any discount can only be applied at the time of purchase with a valid code and cannot be claimed retrospectively.

6. Traveller's Cheques

Please note that traveller's cheques are supplied to First Rate by American Express Europe Limited (“Amex”), acting on behalf of the relevant traveller's cheques issuers. All traveller's cheques will be subject to the relevant terms and conditions provided with your traveller's cheques as issued by Amex from time to time and you should acquaint yourself with such terms and conditions.

7. Anti-money Laundering/Fraud Prevention/Counter Terrorism Financing

First Rate Exchange Services Limited is regulated by Her Majesty's Revenue and Customs ("HMRC") as a Money Service Business ("MSB"). First Rate reserves the right at all times, to decline any orders, at any stage, which it believes, contravenes its obligations under the appropriate Legislation / Regulation.

8. Delivery

Your order will be delivered either to the relevant Post Office® Limited branch address designated by you on the online ordering screen or the billing address of the debit / credit card used to pay for the order.

For delivery to the billing address, First Rate utilises the services of the Royal Mail Special Delivery Services to deliver your order. Special delivery requires a signature on receipt of your order. If, for any reason, you do not receive your order please contact Customer Services as detailed in the “Contact us” page accessible through the online ordering screen. A thorough investigation shall be undertaken and a replacement order, alternative delivery or refund may be arranged where appropriate. First Rate may charge you for the replacement order whilst it investigates the reason for non-delivery or may charge you for the replacement order at the completion of the investigation. First Rate cannot accept any responsibility or liability for safe delivery beyond the handover of the relevant order to your chosen delivery address or any liability for fraudulent acts committed by any third party. First Rate will not be responsible for any redirected items. Please contact Royal Mail if you have a redirection order in place.

For collection at the designated Post Office® Limited branch address, you as the cardholder will be required to produce the debit/ credit card used to pay for your order and provide evidence of your identity which may be in the form of either your passport or UK photo driving licence. In the event of non-delivery of your order by close of business on the requested delivery date the branch will discuss alternative arrangements with you. You may also contact Customer Services as detailed in the “Contact us” page accessible through the online ordering screen.

The delivery timings for orders are as stated in the “FAQs” page which is available on this Service. First Rate reserves the right to amend the delivery timings from time to time and, in the event of such an alteration, will endeavour to notify you as soon as is reasonably possible by telephone or email.

8.1 Same Day Collections

The Travel Money Online website may offer a Same Day Collection Option. The following additional conditions apply in respect of Same Day Collection orders.

  • Same Day Collection is available from participating Post Office® branches only.  
  • Same Day Collection is subject to currency availability at those participating Post Office® branches.
  • Same Day Collection is limited to Euro and US Dollar Notes only.
  • Same Day Collection is limited to a maximum of 1 currency per order.
  • Orders placed on Mon-Fri (excluding Bank Holidays) before 09.00 will be available for collection after 11.00 on the same working day.
  • Orders placed on Mon-Fri (excluding Bank Holidays) after 09.00 and before 14.00 will be available two hours after the order is placed.
  • Orders placed on Mon-Fri (excluding Bank Holidays) after 14.00 will be available the next weekday working day after 11:00.
  • Orders placed on a Sat, Sun or Bank Holiday will be available the next weekday working day after 11:00.
  • First Rate Exchange Services reserves the right to cancel, suspend or amend the Same Day Collection service without notice.

9. Payment

The amount you have to pay for your order shall be paid in Sterling and calculated in accordance with the total amount of the foreign currency and/or traveller's cheques ordered by you and converted into Sterling in accordance with the relevant exchange rate(s) as specified in Section 5 (Foreign Currencies and Rates).

You can pay for your order utilising most credit and debit cards issued in the United Kingdom (Delta, MasterCard, Visa, Switch) providing the card is registered in your name and there are sufficient funds available to cover your order and fees. Payment will be taken on the day of your order and should appear on your payment card statement three working days later.

Your credit or debit card issuer may charge you interest and/or fees on paying by credit and/or debit card as they consider it a cash advance. This is not a service charge made by First Rate or Post Office® Limited and you acknowledge that First Rate and Post Office® Limited has no control over and is not liable for such charges. If you wish to pay by MasterCard (other than Post Office MasterCard) or Visa credit card a handling fee of 1.5% of the order value will be applied (max £15.00). This will be shown within your order summary. Should your order be cancelled the funds should show as available in your account within the next 3 working days.

10. Order Changes & Cancellation

a. In relation to foreign currency and traveller's cheques (excluding Sterling traveller's cheques)

Due to the nature of foreign currency as a money product, once an order has been submitted it cannot be changed. Any changes will be regarded as a cancellation by First Rate. Cancellation can only be undertaken prior to dispatch of your order by First Rate. First Rate, at its discretion, reserves the right to apply a cancellation charge up to the value of £20 per order.

First Rate reserves the right to cancel any order prior to delivery to your billing address or the designated Post Office® Limited branch address due to extreme fluctuation in financial markets outside First Rate's control as specified in Section 3 (Important Notice). If this occurs, First Rate will endeavour to notify you as soon as is reasonably possible by telephone or email to enable you to re-enter your order. In any event, please note that First Rate does not refund cash advance charges made by your payment card issuer.

b. In relation to Sterling traveller's cheques

Please note that you have a right to cancel your order for Sterling traveller's cheques for a maximum period of fourteen calendar days beginning on the day after First Rate confirms your order as stated in Section 4 (Orders).

Please also note that First Rate and Amex cannot guarantee that the amount you will receive when you enchase a sterling traveller's cheque will be equivalent to the original purchase price of such Sterling traveller's cheque. The amount you receive on any encashment will, where they are applicable, exclude any commission and/or administration fees paid on your original order, any charges made by your card issuer and any commission or administration fees charged in connection with the encashment.

If you encounter any difficulties or need further information, please contact Customer Services as detailed on the “Contact us” page accessible through the online ordering screen.

Should your order be cancelled the funds should show as available in your account within the next 3-10 working days. Please be advised that the initial pre authorisation of these funds will not be taken by us if your order is not dispatched. It can take 3-10 working days for the pre authorisation to lapse and we would recommend that you contact your card issuer to speed up this process. For more information about this process please refer to your card issuer.

11. Buy Back Service

Please note you can change back your foreign currency and/or traveller's cheques into Sterling at any Post Office® branch on production of a receipt from the original purchase. Post Office® Limited only buy back currencies in the denominations that they sell and do not buy back coins. Charges may be applicable from time to time by Post Office® limited. Buy back rates differ to sell rates.

12. Personal Information And Security

For online security First Rate utilises secure server software. Details of how First Rate may use your personal information are set out in the First Rate Online Privacy Policy and First Rate Security Statement, links to both of which appear on the online ordering screen.

13. Limitation on First Rate's Liability

First Rate shall make every effort to process orders placed via this Service without any delay. However, you agree that delays can sometimes occur due to technical problems or matters out of First Rate's control.

First Rate uses reasonable care and skill in providing this Service. However, First Rate does not warrant that access to this Service shall be continuous, uninterrupted, secure, error free or free from viruses. First Rate shall not be liable to you for the following:

a. If First Rate is unable to perform any of its obligations to you due to the failure of any technical systems or for any other reason beyond First Rate's reasonable control including amongst other things, war, terrorism, government action, natural disaster and industrial dispute;

b. For any damage to your computer equipment as a result of using the Website or this Service;

c. For any claims or damages (including, without limitation, indirect or consequential loss, loss of profit and whether in contract or in tort) suffered by you or incurred from your use or delay or inability to use the Website or this Service however caused.

First Rate's maximum liability to you in respect of each use of this Service shall be to refund the purchase price of your order. These Terms and Conditions, the disclaimers and limitations of liability shall not apply to any damages arising from death or personal injury caused by the negligence of First Rate or any of its employees or agents or for fraud. If any provision of these Terms and Conditions including these disclaimers and limitations shall be unlawful or unenforceable then such provision shall fall away and shall not affect the validity and enforceability of the remaining terms or any of your statutory rights which cannot be excluded by these Terms and Conditions.

14. Disclaimer

None of the information provided in connection with this Service constitutes, nor should it be construed as financial advice. First Rate provides information using all reasonable endeavours to achieve accuracy but this cannot be guaranteed. First Rate therefore does not warrant the accuracy of any information provided and excludes any implied warranty, in particular relating to exchange rates, market prices and data. Neither First Rate, nor any entity from which it receives information, nor the Website Owner shall be liable for any investment or other decisions made on the basis of the information provided.

15. Third Party Rights

Other than First Rate and the Website Owner, nothing in these Terms and Conditions will confer any benefit on any third party or any right to enforce these Terms and Conditions.

16. Governing Law

These Terms and Conditions are governed by and construed in accordance with English Law.

17. Fees and Charges

Fees and charges which apply to your order will be displayed on the ordering screen during the online ordering process (except for any charges levied by your card issuer). From time to time First Rate may amend or add charges at its discretion but the revised charges will be displayed on the online ordering screen when you place an order.

18. Variations of these Terms and Conditions

These Terms and Conditions are subject to change from time to time without notice and First Rate reserves the right to make these changes at any time without notice. You are required to read these Terms and Conditions before placing an order. Your continued use of this Service after these changes constitutes your acceptance of these Terms and Conditions as modified.

19. Complaints

First Rate uses reasonable care and skill in providing this Service. However, should you have any complaints about the provision of this Service, please contact Customer Services as detailed in the "Contact us" page.