FOREX Bank is a Swedish financial services company specialising in currency exchange services. The company was started in 1927 providing services for travellers, at the Central Station in Stockholm. The owner of Gyllenspet’s Barber Shop, according to the legend, discovered that most of his customers were tourists in need of currency for their trips. The owner began keeping the major currencies on hand.
The company was subsequently acquired by Statens Järnvägar, the Swedish State Railways, which expanded the operations until it was sold to Rolf Friberg in 1965. The company was for many years the only one apart from the banks that was licensed to conduct currency exchange in Sweden.
The company, which is still wholly owned by the Friberg family, has expanded into Finland (1993), Denmark (1994) and Norway (2004) and has 130 shops, located at railway stations or airports, shopping malls and other hubs. In 2003, the company extended its business into banking and can also offer current and savings accounts incl internet and mobile banking, loans, debit and credit cards, cash handling, money transfer and payments.
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