In operation since 1990, the Interchange Group has been handling more than €600 million turnover per annum, across 13 countries, including 7 major airports, 80 branches and numerous ATMs. It also has a network of more than 1,200 Western Union providers.
We’ve been changing, transferring and dispensing money for more than 30 years. It’s what we do best. Today, we operate foreign exchange and ATM services in Central and Eastern Europe’s three leading airports: Vienna, Prague and Budapest. We are also in three Polish airports, and France’s third airport, Nice Côte d’Azur.
In addition to our extensive airport network, we have more than 80 exchange offices and employ more than 500 staff across most of Europe’s top tourist destinations and throughout Southern Africa.
We have also been a main agent for Western Union for over 25 years, specialising in remittances and money transfers, and we have taken Western Union into countries where this essential economic activity has not been previously available. As part of this work, we have developed a network of over 1,200 agencies, and we continue to insist on the highest-quality customer service and the most exacting anti-money laundering procedures. This is a pre-requisite for all of our businesses and is a reputation that we guard with zeal.
In addition to currency exchange and transfer services, we are one of the largest processors of ‘Tax Free VAT Refunds’, offering a highly efficient service at transit points of departures. We also offer ATM services, and these are increasing rapidly, with nearly 130 machines so far deployed, all with state of the art technology, and one of the highest availability records in the industry. We are dedicated to excelling in what we do and we offer our customers the most professional service through our efficient and competent staff. Our group holding company is based in Malta. The company was founded by our CEO, Alastair Holberton, and it remains family owned. We are entrepreneurial but fiscally conservative. We do not believe in debt, and we finance our growth from our own resources. We invite you not only to use our services but to come to us with your ideas and proposals.
INTERCHANGE & COVID-19
The Covid-19 Pandemic has had a profound effect on all travel related businesses. In particular, with border closures, airport business has greatly reduced and passenger numbers have in many cases been in low single digits as a percentage of 2019 levels.
In March 2020 Interchange acted on the basis that the slump would be both prolonged and severe. This resulted in an immediate and substantial reduction in staff numbers, which was a personal and difficult process for the Group’s Executive Team as well as all those directly impacted. It was managed with the greatest regard to achieving the best mutual outcome for all concerned.
- A collaborative approach was taken with landlords to adjust rents to the new business trading conditions.
- Approximately half of the Group’s branches, including its operations in the US, Spain, the Netherlands and Slovakia, were closed.
- Neither its French airport operation, nor its Italian retail business, have traded for a year.
- New terms and contract extensions were achieved with key airport contracts in Central and Eastern Europe.
The Group’s money transfer business has remained relatively robust throughout the Pandemic. Despite that, large trading losses have resulted, notwithstanding a progressive 80% decline in costs. However, the Group’s strong cash position with no net debt, and its immediate recognition of the situation, has placed it in a position to emerge successfully into a new trading environment.
Would you like to know more about us?
Please feel free to call or email us if you require any further information on the Interchange Group.Contact us
We do more for travellers
- Currency exchange
- Western Union money transfers
- Order currency online
- Cash advances
- VAT refunds
- Travellers cheques
- Range of exotic currency
- Full Airport Service
- Corporate Solutions
Interchange and Covid-19
The Covid-19 Pandemic has had a profound effect on all travel related businesses. In particular, with border closures, the airport business has been greatly reduced and passenger numbers have, in many cases, been in low single digits as a percentage of 2019 levels. In March 2020 Interchange acted on the basis that the slump would be both prolonged and severe. This resulted in an immediate and substantial reduction in staff numbers, which was a personal and difficult process for the… [Read More →]
Interchange & ZamPost 21st century remittance coverage across a nation
Interchange’s Joint Venture with the Zambian Post Office – ZamPost – has opened its first location in the bustling Cairo Road Post Office in Lusaka, the capital of Zambia. There has been an immediate and encouraging demand for its Western Union service. The money transfer service will now be rolled out to 9 additional post offices in the Capital – Lumumba Road, Freedom Way, UNZA, UTH, National Assembly, Northmead, Chelstone, Ridgeway and Woodlands. Over a 100 regional ZamPost branches will… [Read More →]
Interchange enters into a joint venture with ZamPost – the Zambian Postal Services Corporation
23rd June, 2020: Interchange Africa announces today that it has entered into a joint venture to manage the Money Transfer Services of the Zambian Postal Services Corporation (‘ZamPost’). This new relationship follows on from its successful cooperation with NIPOST in Nigeria The planned service enhancement is for foreign exchange services to also be provided at Livingstone International and Kenneth Kaunda International airports. In these times of the Covid-19 Pandemic it is more essential than ever to provide reliable, fast, and… [Read More →]
Interchange expands its African management
The former Regional Vice President, Western Union, Southern, Eastern and Anglophone West Africa, Richard Malcolm has joined the fast-expanding Interchange Africa operations. Richard has unrivalled experience across the Continent, one of the fastest growing regions of the world. More than 30 million Africans live abroad and remit billions of dollars home every year. For more information click here.
Interchange offers Western Union Money Transfers with Nigerian Post Office, NIPOST
INTERCHANGE has signed a Tripartite Agreement with NIPOST and WESTERN UNION to offer money transfer services for the Nigerian postal services network. NIPOST has more than 5,000 employees and 1,200 post offices serving the country’s 200 million citizens. It is Nigeria’s largest retail service. Western Union is a global leader in cross-border, cross-currency money movement and payments, with a large network of retail agent locations in more than 200 countries and territories. Talking about this new operation, the Managing Director… [Read More →]