How can I pay for my exchange on Travelex?
The company accepts American Express, MasterCard and Visa card for accepting the payments which can be either debit or credit card. But the credit card companies do charge some extra fees to your order.
Travelex Review- Travelers Paradise to Transfer Money 2024
Travelex Review by Exchange Rate IQ
Overall rating
7.5
/10
Travelex is one of the world’s leading foreign-exchange companies, so, if you are planning for taking a foreign trip, you can use the services of it. Travelex makes it easy to obtain the foreign currency you need before you head out on your overseas trip and provide you with the currencies at ease as well as less exchange fees.
Travelex is an online money transfer company has headquarters in London. It is one of the world’s largest foreign exchange bureaus, which is also the major donor and sponsor of the Royal National Theatre. Its main business is in international transfers, travel cards and bureau change. Customers can find its stores in various countries at airports. Some significant benefits of the Travelex are:
- Multiple Transfer and Currency Options
- Travelex Money Card Facility
- Availability of Stores at Airports
- Home Delivery Available in Selected Countries
Review of Travelex :
Launched in the year 1976, Travelex has been set up to become the world’s leading foreign exchange specialist. It has been providing its services through various stores, bank transfers, ATMs, forward contracts, limit orders and one-off transfers. It has been specially designed to provide an international exchange to travellers across the world.
Travelex offers live exchange rates to the customers, and they can also enjoy free transfer after a limit. The company provides low transfer fee rates comparing to many banks which charge in between $25 to $30 for a similar transaction.
It has been providing customer care services to its customers in various countries which remains open in the stipulated business hours.
It has been providing enough security to its website to protect the data of customers. It has been regulated under the General Data Protection Regulation 2016/679 (GDPR) for security.
On these entire bases, we provide 7.5 out of 10 overall rating to Travelex.
Pricing : How much does Travelex cost?
7
/10
Transfer Fee:
Travelex offers the best prices for its customers and much lower than banks and other companies. It offers free transfer above $5,000 or similar amount in other currency. However, if the amount is lower than $5,000 than also the transfer fee is as lower as $5 or less depending upon the country and currency.
One needs to transfer a minimum amount of $500 in every transaction which is a drawback because it’s a high minimum amount. Many other companies are often offering minimum transfer of $1 or similar amount in other currencies.
Exchange Rate:
Travelex rates are much better than many of the banks and highly competitive from many of its competitors. Whenever you write the amount for making an exchange, you’ll receive a display of the relevant live exchange rate. It will also allow you to calculate the amount of money that will arrive in your recipient’s bank account in their local currency. You will get the Travelex Money Exchange calculator here.
So, we rate 7 out of 10 to Travelex pricing policy, because many other remittance service providers who offer transfer at a lower cost.
Transparency: Does Travelex have any hidden fees?
8
/10
Hidden Fee:
Travelex does not charge any hidden fees. Once you choose the currency you want to send and the currency of recipient, you will get the exchange rate as well as transfer fee on your screen. So, you need not to worry about the hidden fee while making transfers.
Tracking Details:
One can track the transfer performed by them on their dashboard. You will get the delivery time and all other details there. If there is any delay in delivering the funds, you can also contact the company here: 877-414-6359 or [email protected] (in business hours).
As we can see no hidden fee and good tracking procedure of the company, we rate it 8 out of 10, because assistance is not available 24/7.
Transfer Speed: How long does it take to send money through Travelex?
8/10
Currency Process Time by Travelex
Travelex international transfers are fast and secured. They typically transfer the funds in 1-4 days. Some of the forex transfer time has been provided under:
| From | Currency | Process Time |
|---|---|---|
| Australia | AUD | 1 Day |
| Canada | CAD | 1-3 Days |
| Europe | EUR | 1-3 Days |
| Hong Kong | HKD | 1 Day |
| Japan | JPY | 1-2 Days |
| New Zealand | NZD | 1 Day |
| Singapore | SGD | 1 Day |
| USA | USD | 1-2 Days |
| UK | GBP | 1 Day |
Funds Transferring Time by Travelex
When the funds are transferred to beneficiary’s account through Travelex:
| From | Currency | Process Time |
|---|---|---|
| Australia | AUD | Overnight |
| Canada | CAD | 1-2 Days |
| Europe | EUR | 1-2 Days |
| Hong Kong | HKD | 1-2 Days |
| Japan | JPY | 1-2 Days |
| New Zealand | NZD | Overnight |
| Singapore | SGD | Overnight |
| USA | USD | Overnight |
| UK | GBP | Same Day |
| India | INR | 1-2 Days |
| Thailand | THB | 3-4 Days |
Travelex has been providing fast delivery in various countries it is covering through bank transfers or partners. The above table is just an indicative guide, for more information, one needs to open the account in Travelex, and then they will know how much time it will take in the transfer.
So, the experts of Exchange Rate IQ is considering it fast enough to provide the funds to the recipient and rating it 8 out of 10.
Coverage: How many Countries & Currencies does Travelex support?
Using Travelex, one can trade in over 80 currencies and do business in over 50 countries. At the same time, it has many stores available at major airports worldwide. More of its coverage is provided under:
- Customers can also use its online services and have over 1,500 stores as well as 1,250 ATMs worldwide.
- It has also been partnered with many banks, supermarkets and travel agencies. By joining hands with others, it has its reach to over 100 countries and 20,000 locations.
- Travelex has grown in various markets through new acquisitions. This includes FX Africa in South Africa and Grupo Confidence, the largest consumer foreign exchange specialist in Brazil.
You can also find the store of Travelex near you here.
It also has Global Support Centers available in various countries including:
- UK
- Europe
- North America
- Brazil
- Greater China
- Japan
- Australia and New Zealand
- Middle East, India, Africa and Turkey
Countries and Currencies Supported by Travelex
Some of the countries and currencies Travelex supports are provided in the table under:
| Countries | Currencies |
|---|---|
| Australia | AUD |
| Japan | JPY |
| Singapore | SGD |
| South Africa | ZAR |
| India | INR |
| USA | USD |
| UK | GBP |
| Qatar | QAR |
| Malaysia | MYR |
| Denmark | DKK |
Blocked Countries by Travelex
It has also blocked some of the countries which include:
| Afghanistan | Lebanon | Syria | Iraq |
| Iran | North Korea | Burma | Zimbabwe |
| Cuba | Somalia | Libya | Rwanda |
| Liberia | Democratic Republic of Congo | Republic of Congo | Cote d’lvoire |
| Belarus | Sudan | Sierra Leone |
Travelex has been covering so many parts of the world and also have its stores as well as ATMs. Still, it has to grow more to become the top money remittance company in the world. It provides specialized services for travelers such as money card and stores at airports. So, we rate 8 out of 10 to it for its coverage.
Travelex Transfer Process
Step-By-Step Guide to transfer funds with Travelex
Go to the Travelex website.
Click on “Send Money Internationally” at the top of home page.
Click on “Get Started and Register” if you are new to the company, or just login.
Enter all the personal details and banking details of your and recipient.
Enter the amount that you want to send.
You will get the live exchange rate in and the amount that recipient will receive.
Re-check all the details of the recipient and confirm the transfer.
You can track all the transfer details on your dashboard.
User experience of Travelex
8/10
Sending money should not be complicated, and with this goal, Travelex money transfer has been providing its services. One can transfer funds through multiple options available, these are:
It is also providing cash pick-ups and home delivery in some of the countries as well as Travelex stores, but for that, you need to provide documents, which can be any of the following:
It has also provided FAQs on its website, which one can consider for various questions they have regarding Travelex currency transfer. But if you have any other queries, you can contact Travelex customer care of your respective countries. You can also call the stores regarding any confusion in the transaction.
Travelex offers cancellation to its customers through the call. You can call the store or customer care of the company for the cancellation of transfer.
In its money card, one can be locked in the exchange rate and take advantage of favorable market conditions by opting the forward contract option.
One can also schedule the regular transfer from Travelex, but it may get a delay until you choose the currency exchange rate for the transfer.
So, Travelex International Money Transfer offers various modes of transferring the funds and also cash pick-up in few countries. You can start the transfer by Travelex login here.
You can also download the Travelex app here:
For looking after the transfer rates in app, you need to login or sign up in the app. While, you need not to do this in the Exchange Rate apps. You can also use its Currency Converter tool to know what exchange rate Travelex is offering.
So, as per user experience, we provide 8 out of 10 to Travelex and its services.
Travelex Money Card
Travelex earlier offers cash passport which it is replaced with its travel money card. This is a multi-currency card which can be charged with up to 16 currencies and comes with the application: Travelex Money App. This app helps you to manage your card from the phone and also order online.
Currencies available on Travelex Money Card
| USD | EUR | AUD | NZD |
| GBP | JPY | CAD | ZAR |
| TRY | CHF | AED | MXN |
| CZK | HRK | PLN | SEK |
Benefits of using Travelex Money Card
- Load card with any available currencies of your choice.
- You can lock the exchange rate and save yourself from the exchange rates floating.
- You can use the card anywhere abroad at ATMs or agent place.
- The card comes with “buy-back option”, so if you have foreign currencies left in hand or in the card, you can exchange it with the company.
Security : Is Travelex Safe?
6/10
Everyone wants to stay safe with their money, and therefore, Travelex provides secure transfers. It has 40 years of experience, where it transfers your details to destinations outside with its partners to fulfill orders and taking payments. It protects all the data in all the countries under the regulations of their governments. Some other things it follows to protect the data of consumers are:
- The Standard Contractual Clauses that have been provided by the EU Commission.
- Treat in accordance with various notices and strict data protection standards.
- It has been providing ‘adequacy’ protections that have been defined and approved by the European Commission or the relevant Supervisory Authority.
Travelex is not very much clear about the security it is using for saving the data online and in offline mode. So, Exchange Rate IQ’s experts provide it 6 out of 10 score in security head.
Travelex FAQ's
What is the cost of sending money with Travelex?
Travelex offers some of the most affordable international cash transfer services. For transaction ranging between $500 and $5,000, a fee of 5% is charged. Any transaction above $5,000 is free and this is one of the main reasons why many people use this platform to send money online. Travelex however has a minimum transfer limit of $500 meaning that you cannot send money below that amount.
How many currencies does Travelex sell?
The company sells approximately 80 currencies online as well as at its stores across the globe.
How do I receive money sent to me via Travelex?
You can get your money in cash through various Travelex pick up points. These are usually banks and other associated financial institutions. Travelex can also deliver cash to your residence. You can also receive and send money through the Travelex master card that allows you to withdraw from ATMs around the world.
Can I cancel my order after placing it at Travelex?
Yes, you can cancel your order after placing it. This does not involve any fees, but you need to contact immediately to the company's customer service at:
Travelex contact number: 516-300-1622
Travelex email: [email protected].
Is it possible tracking money with Travelex?
Yes. You can easily track your money with Travelex without any hustle. That is because; you will get notified about the progress of your transfer until it reaches the intended destination. In case your transaction takes longer than 10 days, it is advisable to reach the customer care for more assistance.
Where can I send money with Travelex?
You can send money using the Travelex international money transfer app to any part of the world. That is because the money app is free and available for Android and Ios users. Also the Travelex mastercard allows you to withdraw from any ATM machine
Alternatives to Travelex
Travelex User Reviews and Ratings
Travelex call waiting system needs…
Travelex call waiting system needs improvement. I tried reaching them on a routine matter today. System advised 20 minutes wait. Did not give option to leave a call back number. Instead at 30 second intervals a message that a rep would be with me momentarily was repeated. After waiting 33 minutes I hung up.
Travelex Retaining Personal Currency Transaction
On 08 June 2023 I converted UK Pound Sterling to 290 U.S. dollars and was only offered the Travelex Money Debit Card. I accepted this offer with the assurance that once I returned to the U.S. that day I would be able to obtain my funds in U.S. dollars, which my Travelex receipt reflected. Upon return to the U.S. I have been unable to access my funds after two attempts at my financial institution. I sent an email to Travelex on 8 June 2023 requesting they provide me funds through through traditional methods and they have failed to respond.
Great job Terrence.
Great job Terrence.
High class service with reasonable…
High class service with reasonable rates. Efficient, professional and helpful team.
