Press room
Company facts in brief
Since it was founded in 1991, X-change has had good growth and is currently one of Scandinavia’s most established foreign exchange companies with a total of 19 exchange offices in Stockholm, Arlanda, Uppsala, Gothenburg, Angered, Malmö, Helsingborg and Copenhagen. Currency exchange can also be done via the company’s website.
The president of X-change is Anders Krook and X-change has its main office in Stockholm. The company was founded in 1991 and has a little over 100 employees.
Financial facts
|
Sweden (SEK 000s) |
2004 |
2003 |
2002 |
2001 |
2000 |
Sales
|
76 125 |
73 384 |
67 288 |
57 204 |
49 821 |
Profit before tax
|
12 049 |
15 613 |
8 481 |
4 280 |
10 065 |
Number of employees
|
77 |
69 |
75 |
65 |
52 |
|
Denmark (SEK 000s) |
2004 |
2003 |
2002 |
2001 |
2000 |
Sales
|
13 208 |
13 992 |
12 919 |
6 131 |
2 384 |
Profit before tax
|
3 292 |
3 383 |
1 079 |
-363 |
0 |
Number of employees
|
15 |
19 |
17 |
11 |
4 |
|
Group
|
2004 |
2003 |
2002 |
2001 |
2000 |
| Sales |
89 333 |
87 376 |
80 207 |
63 335 |
52 205 |
Profit before tax
|
15 341 |
18 996 |
9 560 |
3 917 |
10 065 |
Number of employees
|
92 |
88 |
92 |
76 |
56 |
Equity/asset ratio
|
37,0% |
38,3% |
30,3% |
17,8% |
31,8% |
Profit margin
|
25,3% |
28,8% |
19,7% |
12,5% |
24,7% |
Annual reports can be ordered via: info@x-change.se.
X-changes operations and brand
In addition to the exchange offices, X-change offers a well-functioning and appreciated currency exchange service at: www.x-change.se, the first online currency exchange service in Sweden. Through the website, all Internet customers of Föreningssparbanken, Handelsbanken, Nordea, Postgirot Bank and SEB can purchase currency and get it sent directly to their home.
X-change is a specialist in cash related services and currency exchange, the transfer of currency, calculation services for companies, etc. X-change’s ambition is to offer its customers who purchase currency the best possible exchange rates with no transaction fees.
The brand, X-change, stands for cash culture. In addition to offering price-worthy exchange services, etc., X-change’s philosophy is to offer its customers practical knowledge about the cash cultures in different countries. They provide information about price levels for hotels, restaurants, taxis and also what tipping and bargaining cultures apply at various travel destinations. This information can be found on the company’s website and also in printed, easy to carry formats for those who purchase currency in any of the exchange offices.
X-change believes in a diversified way of thinking and this is characterized by the way the company operates and its attitude towards customers.
Most-used payment methods when traveling abroad
According to an annual survey carried out by X-change, cash is being used more and more as the payment method when traveling abroad.
|
Sweden |
2004 |
2003 |
|
Denmark |
2004 |
2003 |
Cash only
|
29% |
9% |
|
Cash only
|
21% |
15% |
Credit/debit cards only
|
2% |
1% |
|
Credit/debit cards only |
3% |
1% |
Equal use of both
|
13% |
17% |
|
Equal use of both
|
16% |
13% |
Press contacts
Anders Krook, President
Mobile: +46 708 97 00 07
E-mail: anders.krook@x-change.se
Questions and answers
Here, you can find the answers to some of the most common questions that we get from our customers.
Why should you use cash instead of credit/debit cards when traveling abroad?
Paying with cash is almost always cheaper than paying by card. Before you pay by card or make a withdrawal by card at the travel destination you should check your bank’s applicable fees. When paying by card there is often an administration fee (normally around 1.65% of the amount). For withdrawals there is often a fee of between SEK 30-45 per withdrawal. It is not unusual for shop owners in other countries to also apply a 5-10% fee when payments are made with credit cards.
What should I keep in mind to help avoid credit card fraud?
Always be careful when you use your card abroad. Never leave your card out of sight at a restaurant or other establishment since there is a risk for credit card fraud.
If I need to send money to another country how do I do this?
X-change is an agent of Western Union and can therefore send money all over the world in a matter of minutes between Western Union’s more than 220,000 agents in 200 countries. To send money, simply visit one of our offices.
Does X-change charge any fees for its services?
X-change does not charge any fees when you purchase currency. Plus, if you save the receipt, we will exchange the money back to the original currency at no cost. If you send money using Western Union via X-change, the fee is regulated by Western Union.
How do I see the difference between a counterfeit and real euro and dollar bill?
On a genuine euro bill:
- there is a watermark, a security thread and a see-through image. All are visible from both the front and back
- there is a changing image in the hologram on the front of the bill On a genuine dollar bill:
- there is a security thread in the bill (applies to bills printed after 1990)
- you should be able to feel the numbers and text "The United States of America" when you rub your finger over them
- the green mark with the text "The Department of the Treasury" should leave a residue of color when you rub it against white paper
If I suspect that I have received a counterfeit/discolored bill – what do I do?
If you suspect that you have been given a counterfeit bill, report this to the nearest police station and file a police report.
Try to remember how or where you received the bill.
A discolored bill may indicate that it was involved in some kind of criminal activity. Always inspect the bills you receive and avoid taking any discolored bills. If you have already received such a bill by mistake, take it to your bank or to a Svensk Kassaservice office.