FIRST RATE EXCHANGE SERVICES HOLDINGS LIMITED demonstrates exceptionally strong payment performance, with an average payment time of just 13 days, well below the standard 30-day threshold. An overwhelming 99% of invoices are settled within 30 days, indicating a highly consistent and disciplined payment culture. The negligible 1% of payments exceeding 60 days does not suggest a systemic trend but rather isolated exceptions within an otherwise reliable payment pattern.
Payment behaviour is highly predictable, with a near-perfect on-time payment rate of 99% and a late payment rate of just 1%, pointing to minimal financial volatility or cash flow irregularities. The complete absence of payments in the 31–60 day bracket further reinforces a binary payment pattern where transactions are either settled promptly or, in rare cases, delayed beyond 60 days. This marginal outlier risk is low-impact given the overall volume consistency, though suppliers may wish to monitor whether the 1% over-60-day category relates to disputed invoices or administrative delays.
FIRST RATE EXCHANGE SERVICES HOLDINGS LIMITED represents a very low-risk payment counterparty, making it a highly favourable client for suppliers extending trade credit. The 13-day average payment time suggests strong liquidity management and a proactive approach to settling obligations. Suppliers can confidently engage with standard credit terms, though it would be prudent to maintain clear invoice dispute resolution procedures to address the rare instances of delayed payments exceeding 60 days.
| Reporting Period | Filing Date | Average Time to Pay (days) | Paid within 30 days | Paid 31-60 days | Paid after 60 days | Not Paid within Terms |
|---|---|---|---|---|---|---|
| 01 Oct 2025 - 31 Mar 2026 | 24 Apr 2026 | 13 | 99% | 0% | 1% | 1% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
We do not impose standard terms on suppliers. We either accept supplier payment terms or negotiate mutually agreed terms.
Were there any changes to the standard payment terms in the reporting period?
No information available
Any other information about payment terms
No additional information
Maximum contractual payment period agreed
30
It is the responsibility of the individual who would authorise the invoice to contact the supplier direct for any disputed items on the invoice and inform Accounts Payable. Disputes are resolved through discussion and the investigation and presentation of relevant evidence.
Has this business signed up to a code of conduct or standards on payment practices?
For example, signatories to The Prompt Payment Code must commit to paying 95% of their invoices within 60 days.
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Does this business offer e-invoicing in relation to qualifying contracts?
This is where suppliers can electronically submit and track invoices. It's not just allowing suppliers to email them an invoice.
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Does this business offer supply chain finance?
This is where a supplier who has submitted an invoice can be paid by a third-party finance provider earlier than the agreed payment date. The business would then pay the finance provider the invoiced sum.
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Under its payment practices and policies, can this business deduct sums from payments under qualifying contracts as a charge for remaining on a supplier list?
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During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?
No information available
First Rate Exchange Services Holdings Limited is a holding company registered in the UK, incorporated in September 2001. Companies House records show its nature of business as financial services holding activities. The company has previously traded under different names, including First Rate Travel Services Holdings Limited and, before that, FRTS 1 Limited and Intercede 1750 Limited, before settling on its current name. No details are given in the available evidence about specific trading operations, products or services carried out under this registered entity, which appears to function as a holding vehicle within a wider corporate group rather than as an operating business itself.
Generated from the company's website and Companies House records. Sources: find-and-update.company-information.service.gov.uk