No1 Currency Review: Is it safe? How does it work? What are the rates?

Is No1 Currency the best option for sending money abroad? Compare your options to make sure you get the best exchange rate and lowest fees for your transfer.

Our independent review of No1 Currency

No1 Currency has been in business in the Pacific region since 2009. They offer currency exchange, international money transfers and business payments for customers in New Zealand, Fiji and the UK through Western Union and are owned by FEXCO. They have 17 stores across New Zealand, with stores in Auckland, Hamilton, Rotorua and Dunedin. They also operate in 9 Pacific countries across over 65 locations and employ over 250 Staff. Beyond New Zealand, they have airport locations in Samoa, Fiji (Nadi and Nausori), Tonga, Vanuatu (Port Vila and Santo) and American Samoa. Their airport location money exchange booths are guaranteed to be open when flights arrive and depart. The also have over 300 stores and/or agents in the UK. In Ireland, they offer currency exchange, international money transfers via MoneyGram and roughly 14 office or agent locations across the country.
No1 Currency offers click and collect services for New Zealand, Fiji, the UK and Ireland (in other words, you can order money online and collect at a physical store in cash), which is geared towards travellers from their home country to another location, as well as Click & Sell services (geared to customers wanting to sell currency after they return from a trip). Customers pay when they collect the funds with zero commission. For most currencies, No1 Currency offers same day collection. The also offer home delivery of money for people in New Zealand, Ireland and the UK. Exchanges rates for all their services are generally competitive and are consistently better than banks.

What Monito Likes About No1 Currency

• Zero commission fees
• Home delivery service for NZ, Ireland and the UK (cash comes straight to your door)
• Competitive exchange rates

What Monito Dislikes About No1 Currency

• Confusing websites--you can't easily navigate between the UK and Ireland sites to the New Zealand and Fiji sites
• There are often fees for home delivery services, depending on the country and the amount
• Limited store/agent locations for Ireland

No1 Currency fees & exchange rate

Exchange rates are competitive and beat the bank rate. No1 Currency charges zero commission fees, but they do have fees for their home delivery services--though in some cases fees are waived if you order above a certain amount.

Home delivery fees

• New Zealand: NZ $7
• Ireland: over €750 = free; €749 and below = €6.00.
• United Kingdom: over £750 = free; £749 and below £4.95 

Credibility security

Yes, you can trust No1 Currency. In New Zealand, No1 Currency/Fexco Pacific is registered with the New Zealand Companies Office under FSPR reference 2110802 (this includes a dispute resolution registration).

In the UK, No1 Currency/ Fexco is a licensed Authorised Payment Institution, which means that they are regulated by the FCA (Financial Conduct Authority).
Authorised by the UK Financial Conduct Authority (FCA)
Registered Number: 019688932

In Ireland, No1 Currency/Fexco is regulated and authorized by the Central Bank of Ireland under the European Communities (Payment Services) Regulations 2009. This requires No1 Currency to protect client funds, maintain systems and procedures at the highest standards (in particular to detect and deter financial crime), maintain a minimum level of capital and liquidity, and have individually approved and vetted key personnel.
Authorized by the Central Bank of Ireland
No. 83934

Service & Coverage

Click & Collect: Fiji, New Zealand, Ireland and the UK

Fiji, New Zealand, Ireland and the UK offers Click & Collect (which means you enter your currency online and collect the desired currency at a physical location before you travel).

• In New Zealand, there is a minimum order of NZ$200 and a maximum order of NZ $75,00.
• In Fiji, there is a minimum order of FJD $200 and a maximum order of FJD $5,000.
• In Ireland, there is no minmum, but after playing around with number on the site a bit it seems that the maximum is €2500 (this particular detail is not prominently displayed on the Irish site)
• In the UK, there is no minimum and you can order money online up to £2,499. Orders over £2,500 need to be placed by phone.

Home delivery: New Zealand, Ireland & the UK

They also home delivery of money. You place the order online and the cash is delivered straght to your home.

• In New Zealand, this is available for orders between NZ $200 and NZ$1,500. Same day dispatch may be available when payment is received before 11am.
• In Ireland, this service is possible for orders from €400 to €2,500. Orders placed before 12 noon may be available for next day delivery.
• In the UK, this service is possible for orders from £400 to £2,500. Orders placed before 12 noon may be available for next day delivery.

Click & Sell

Click & Sell is aimed to enable people to sell unused currency when they return home. You can sell your currency via the No1 Currency site finish the transaction at one of the store and/or agent locations. The exxhange rate is held until the end of the following business day.

Travel Money cards (UK only)

No1 Currency offers MasterCard Travel Money Cards in Euros, Us Dollars and Pound Sterling for customers in the UK. These are prepaid debit cards with the Mastercard logo and are handy if you are traveling in the Eurozone, the US or the UK and with to pay by debit card in the local currency. Cards are free if you load it with £400 or more initially and are delivered in 3 to 5 working days. Additional details are available here. Note: Top up exchange rates will match the rate displayed on No1 Currency's website on the day the order is placed.

Customer Satisfaction

No1 Currency has excellent customer reviews on Trustpilot. Here’s a summary of what customers have to say:

Positive

• Customers experienced a smooth transaction at competitive rates.
• Easy online booking and cash pickup
• Helpful and decent customer service

Negative

A small number of customers have had some negative feedback (though we do see that No1 Currency has been fairly consitent about responding to individual negative feedback in an effort to resolve the issues)

• Some customers complain that the stores were not adhering to the opening times published online, or that in-store wait times were too long
• No1 Currency's customer service was occasionally slow to respond