Custom House (global payments)
|Founded||1992, Victoria Customs House, Wharf St., Victoria, BC, Canada|
Custom House is a company which does foreign exchange and international money transfers. The company was founded in Victoria, BC, Canada. It is a foreign exchange dealer,[unreliable source?] handling about $15 billion in transactions yearly. Custom House provides various services for businesses and individuals, including wire transfers, foreign currency drafts, and forward exchange contracts. Since 2009, Custom House has been owned and run by Western Union.
The company was founded in 1992 as "Custom House Currency Exchange". It began as a small tourist currency exchange kiosk in Victoria’s old waterfront customs house.
In 1993, the company opened its first corporate foreign exchange office[unreliable source?] and began shifting its focus to its corporate clients. The company gradually expanded within Canada. It began its US operations in 1997 and its Australian operations in 2000; it continued to expand internationally over time.
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", then rebranded as Western Union Business Solutions.
As of 2013, Western Union still owns and operates Custom House along with its services, still using the Western Union Business Solutions name.
- Haugeneder, Rudy. "Victoria currency trader becomes a world leader". Victoria Weekend Edition (a Victoria News community newspaper with a 2012 circulation of under 25,000), February 4, 2005.[unreliable source?]
- Duffy, Andrew A. "Custom House gets new boss to help growth into Asia-Pacific". Victoria Times Colonist, January 17, 2007.
- "FAQ". Custom House.[unreliable source?]
- "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."
|This article needs additional or more specific categories. (July 2013)|
|This bank, insurance, or other financial services corporation article is a stub. You can help Wikipedia by expanding it.|