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Fourex Kiosks Coming to London

You may soon notice a new machine around the London tube stations and the Westfield shopping centres. It’s a Fourex kiosk that will accept your unsorted coins and notes in and out of circulation from over 150 currencies…and convert their value into pounds, euros or US dollars. Invented by entrepreneurs Jeff Paterson and Oviver Du Toit, the device won’t charge fees or commission. Certainly, the rate that customers receive on some of the currencies will be low, but it will be better than keeping those old coins in the drawer.
All of the exchange rates will be clearly displayed on the screen at the kiosk and customers can use the exchange rate calculator on the main screen to see exactly how much they will get back for their money.

The company has secured a contract with Transport for London and Westfied so that the machines will sit in these two locations. They have garnered support through the crowdfunding website CrowdCube to the tune of £670,000 in less than two weeks.

The co-founder of Fourex, Jeff Paterson, said “We have been completely humbled by the interest, excitement and investment we have received so far for Fourex, not only from multi-million pound companies such as TFL and Westfield, but from the 436 people from every corner of the globe who invested through CrowdCube.”

Those who use the machines can also donate part or all of their exchange to six charities. These include UNICEF, The Railway Children, The Guide Dogs for the Blind Association, The London Transport Museum, EllenorLions Hospice and the UK Stroke Association.