Independent Review · Lifestyle retailer travel money
John Lewis / Waitrose Travel Money
Operated by First Rate Exchange Services Ltd (FCA Authorised EMI, FRN 900412) – the same operator as the Post Office. Available from 350+ John Lewis and Waitrose stores. Partnership Card members earn loyalty points on currency purchases.
FCA EMI 900412 350+ stores First Rate operator Partnership Card points
GBP/EUR rate today
1.1837
Live from data feed
€ for £500 today
€591.85
Before delivery fee
Free delivery from
£500
Below: £5.50
Stores
350+
Click & collect locations
6.5 / 10 PSL Travel Money Score
Verdict: FCA-authorised, trusted brand – but rate is uncompetitive vs specialists
John Lewis and Waitrose Travel Money is operated by First Rate Exchange Services (FCA EMI 900412) – the same organisation that runs Post Office Travel Money. The rate is typically marginally worse than Post Office (1.1118 vs 1.1124 GBP/EUR) despite having the same backend, which may reflect partnership fee structures. The FCA EMI status is a genuine differentiator over supermarket providers (Tesco, Sainsbury's) and M&S. For customers who shop at John Lewis or Waitrose regularly and want a trusted, FCA-authorised service with Partnership Card points, it is a reasonable convenience choice. On rate alone, TravelFX delivers €12 more per £500.
John Lewis / Waitrose Rates Today – Major Currencies Updated 15:10 BST · 1 May 2026
| Currency | John Lewis / Waitrose rate | Received · £500 | vs TravelFX | vs interbank |
|---|---|---|---|---|
| EUR – Euro | 1.1837 | 591.85 | −€11.95 | −482 bps |
| USD – US Dollar | 1.2405 | 620.25 | −$14.50 | −510 bps |
| AUD – Australian Dollar | 1.9262 | 963.10 | −A$30.50 | −545 bps |
| TRY – Turkish Lira | 41.8881 | 20,944.05 | −₺655 | −525 bps |
| AED – UAE Dirham | 4.4835 | 2,241.75 | −AED 71 | −470 bps |
Rates are indicative and update continuously. Interbank mid-market rates sourced from PSL data feed. Firm rates must be obtained from John Lewis / Waitrose directly before transacting.
Fees & Delivery
🚚 Home Delivery
Order £500+ Free
Below £500 £5.50 (highest on comparison)
Delivery timing Next working day
Courier Royal Mail Special Delivery
🌐 Click & Collect
Locations 350+ John Lewis & Waitrose
EUR/USD same-day Most larger stores
Minimum order £250 online
ID required Photo ID at collection
💳 Payment & Loyalty
Debit card ✓ No fee
Commission None
Partnership Card Points earned on currency purchases
Points rate Check current Partnership terms
🔄 Buyback
Buyback Yes – in-store
Currencies accepted Major currencies
Currency card Available – check store
Pros & Cons
✓ Advantages
✓
FCA authorised via First Rate (FRN 900412) – stronger regulatory status than most supermarkets✓
Partnership Card points earned on currency purchases✓
Trusted retailer brand – well-regarded customer service✓
Home delivery and click & collect available✓
350+ John Lewis and Waitrose locations✗ Disadvantages
✗
Rate is the second worst of the cash delivery providers on GBP/EUR✗
Trails Post Office on rate despite same operator – unclear why✗
Free delivery threshold (£5.50 below £500) is the highest delivery fee on this comparison✗
Minimum £250 online order✗
Smaller store count than Post Office (350 vs 11,000+)PSL Rating Breakdown
⚠️ Regulatory clarity note: The "Regulatory clarity" score reflects the level of consumer protection and transparency PSL considers available to customers. A lower score does not mean the provider is illegal or unsafe for typical transactions, but indicates that FCA consumer protection rules do not fully apply to the currency purchase itself.
6.5 / 10 Overall PSL Travel Money Score
Who Is John Lewis / Waitrose For?
✅ Best for
John Lewis Partnership Card holders who want to earn loyalty points on currency and prefer a familiar, trusted retailer. The FCA EMI authorisation is also relevant for anyone who specifically wants FCA-regulated consumer protections.❌ Not ideal for
Anyone ordering online purely for rate. At 1.1118 GBP/EUR, TravelFX delivers €12 more per £500, and the Post Office offers a marginally better rate with a far wider branch network for in-person collection.John Lewis / Waitrose – Questions & Answers
Who operates John Lewis Travel Money?
First Rate Exchange Services Ltd, a joint venture between the Post Office and Bank of Ireland established in 1994. It is an FCA Authorised Electronic Money Institution (FRN 900412) and operates both Post Office Travel Money and John Lewis/Waitrose Travel Money.
Why is John Lewis's rate slightly worse than the Post Office?
Both are operated by First Rate Exchange Services and share the same backend. The small rate differential (1.1118 vs 1.1124 GBP/EUR) likely reflects different commercial arrangements between First Rate and each brand.
Do I earn Partnership Card points on travel money?
Yes – purchases of travel money at John Lewis/Waitrose earn Partnership Card points. The exact points rate may vary; check the current terms on the John Lewis Partnership website. This is the only travel money provider on this comparison page that offers loyalty point earning on currency purchases.
Is there a minimum order?
Yes – £250 for online orders. There is no minimum for in-store purchases at most locations, though stock availability at smaller stores may be limited for larger amounts.