Travelex Review- Travelers Paradise to Transfer Money 2020

5 stars based on 11285 reviews

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

  1. Go to the Travelex website.

  2. Click on “Send Money Internationally” at the top of home page.

  3. Click on “Get Started and Register” if you are new to the company, or just login.

  4. Enter all the personal details and banking details of your and recipient.

  5. Enter the amount that you want to send.

  6. You will get the live exchange rate in and the amount that recipient will receive.

  7. Re-check all the details of the recipient and confirm the transfer.

  8. 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:

  • One-off transfers,
  • Forward contracts,
  • Limit orders,
  • Bank-to-Bank transfers
  • Regular schedule transfers
  • 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:

  • Passport
  • Voter’s ID Card
  • Driving License
  • PAN Card
  • Issued ID Card
  • Aadhar (UIDAI) Card
  • Letter from a recognized public authority or public servant verifying the identity and residence of the customer to the satisfaction of the AP.
  •  

    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:

    1. Travelex Android App
    2. Travelex iPhone App

    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

    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.
    Discuss this question

    How many currencies does Travelex sell?

    The company sells approximately 80 currencies online as well as at its stores across the globe.

    Discuss this question

    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]

    Discuss this question

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    Travelex User Reviews and Ratings

    reviews powered by trustpilot

    The gentleman at the Indianapolis…

    Review published ago

    The gentleman at the Indianapolis Airport was courteous, helpful and even a bit humorous. I will definitely work with this Travelex office for future exchange needs.

    by Kenneth Wolfe

    The gentleman at the Indianapolis…

    Review published ago

    The gentleman at the Indianapolis Airport was courteous, helpful and even a bit humorous. I will definitely work with this Travelex office for future exchange needs.

    by Kenneth Wolfe

    Easy to use

    Review published ago

    Easy to use, reload and change currency as I travel to different countries.

    by Andrea Garcia

    Easy to use

    Review published ago

    Easy to use, reload and change currency as I travel to different countries.

    by Andrea Garcia

    Convenient for traveling

    Review published ago

    The site is a bit daunting at first, but eventually I was able to figure it out. I initially I tried several times to change currencies, but the page went to "404" Error. All was working the next day when e tried again. Looking

    by Kevin McCloskey

    Convenient for traveling

    Review published ago

    The site is a bit daunting at first, but eventually I was able to figure it out. I initially I tried several times to change currencies, but the page went to "404" Error. All was working the next day when e tried again. Looking

    by Kevin McCloskey

    Never used prior to this experience and…

    Review published ago

    Never used prior to this experience and held our breath. ...just as indicated however Euros arrived next morning, hubby signed for UPS pkg. An added surprise however, was Travelex included smaller bills needed at airport, baggage handlers, taxi driver & deli. That’s so perfect! Thank you Travelex!! You have our business in future!

    by Marcia G.

    Never used prior to this experience and…

    Review published ago

    Never used prior to this experience and held our breath. ...just as indicated however Euros arrived next morning, hubby signed for UPS pkg. An added surprise however, was Travelex included smaller bills needed at airport, baggage handlers, taxi driver & deli. That’s so perfect! Thank you Travelex!! You have our business in future!

    by Marcia G.

    Good Service

    Review published ago

    Easy to use website; good flexibility in scheduling delivery. Have used this site several times; would recommend to others.

    by Yvonne Sippel

    Fast service

    Review published ago

    Fast service

    by Brent Ellsworth

    Excellent service

    Review published ago

    Excellent service

    by Gilbert Fontenette

    Quick and easy process

    Review published ago

    Quick and easy process

    by Constance

    Quick service as expected.

    Review published ago

    Quick service as expected.

    by New Customer

    Travelex was easy to use and my request…

    Review published ago

    Travelex was easy to use and my request was promptly replied to. And I received my order, just as explained. Also securely delivered. THANKS Travelex!

    by Sharon Salsman

    I intended to pick up my currency…

    Review published ago

    I intended to pick up my currency before my early morning flight. The Travelex counter was not open till 8 am and my flight was taking off at 8am. I went through security to another Travelex agent that informed me the information I had seen online about the Travelex counter I wanted to pick up my currency from was wrong and with the signed that stated it would be open at 8am, it actually opened at 7. The agent was able to go into the system and provide me my currency from her counter which was a tremendous help.

    by Les

    Very easy to use Web site

    Review published ago

    Very easy to use Web site. Had questions about the travel card and was able to call and get someone right away and I could understand everything they said. They were able to answer all of my questions. Waiting for my currency now.

    by Douglas Slayton

    Great service

    Review published ago

    Great service. Provided my foreign currency without me leaving the house. Delivered as promised.

    by David Rosenzweig

    Easy on-line order and at home delivery

    Review published ago

    Easy on-line order and at home delivery

    by Kevin Kish

    late shipment

    Review published ago

    late shipment

    by William Gamble

    Convenient but arrived late

    Review published ago

    My order did not arrive the day it was supposed to. When I called, the person who answered was a bit rude. The reference number for my issue given to me by email was not valid. In the end I received my order a day late and the delivery fee is supposed to be refunded. The online ordering was convenient.

    by Lisa Goldschmidt

    It wasn’t the fact that it did not…

    Review published ago

    It wasn’t the fact that it did not arrive on Thursday as scheduled but rather the fact I sat around all day waiting for the UPS package to arrive

    by William Rogers

    highly recommend the service

    Review published ago

    easy and clean service while traveling outside your home country.

    by Ramin Baghaie

    Makes foreign travel easier

    Review published ago

    Site very easy to navigate. Currency page as well. Arrived exactly when I was notified. Bills in good shape.

    by Toni

    Ordering the money is simple and…

    Review published ago

    Ordering the money is simple and exchange rate is fair. The only reason for one less star is that there was a problem with shipping and I waited all day and was not notified that the delivery was delayed by one day. The delay wasn't a problem, but the fact that I had to wait for the shipment and couldn't leave was annoying. I shouldn't have had to call to get the info, they should have notified me.

    by Kathryn Pruett Purkey
    show more >>

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