Custom House (global payments)

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Custom House
Type Private
Industry Financial Services
Foreign Exchange
Founded 1992, Victoria Customs House, Wharf St., Victoria, BC, Canada
Employees 650
Parent Western Union
Website www.customhouse.com

Custom House was a Canadian foreign exchange and money transfers company based in Victoria, British Columbia.[1][2] Providing small businesses and individuals with services that included wire transfers, foreign currency drafts, and forward exchange contracts. It was acquired by Western Union in 2009 and now forms part of that company's "Western Union Business Solutions" division.[3]

History[edit]

The company was founded in 1992 as a small tourist currency exchange kiosk titled "Custom House Currency Exchange" in Victoria’s old waterfront customs house. In 1993, the company opened its first corporate foreign exchange office.[4][unreliable source?][dead link]

After expanding in Canada, it began a US operations in 1997 and an Australian operations in 2000. The company was later renamed "Custom House Global Foreign Exchange", then renamed again to "Custom House".

In 2009, Western Union bought the company for $370 million USD. The company was renamed "Custom House, A Western Union Company", and later re branded as a Western Union Business Solution.[5]

References[edit]

  1. ^ Haugeneder, Rudy. "Victoria currency trader becomes a world leader". Victoria Weekend Edition
  2. ^ "LIST OF THE WESTERN UNION COMPANY SUBSIDIARIES". United States Securities and Exchange Commission. Retrieved 19 March 2014. 
  3. ^ "Western Union to Acquire Custom House, Ltd.". Payment News. Retrieved 19 March 2014. 
  4. ^ "FAQ". Custom House.[unreliable source?]
  5. ^ "Online FX". Western Union Holdings, Inc. Retrieved July 30, 2013. "Western Union acquired Custom House, a foreign exchange and international payments company, in 2009 and owns and operates Custom House along with its products and services under the Western Union name."