Travelex Money Transfer Review- Travelers Paradise to Transfer Money 2019

All the useful information that you need to know before sending money with Travelex!

5 stars based on 5813 reviews

Overview

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

Exchange Rate IQ’s Review of Travelex

Overall rating
7.5 /10

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

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

 

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.

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.

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.

    So, as per user experience, we provide 8 out of 10 to Travelex and its services.

    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

     

    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

     

    However, 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 User Reviews and Ratings

    reviews powered by trustpilot

    process was simple and they did as…

    Review published ago

    process was simple and they did as promised. We finally were smart and ordered the money a week in advance and it was delivered to our door. An extra plus was a packed with our money with an offer to buy back the unused currency. Yes, it was for a charge but that is better than unused currency.

    by Scot Schug

    process was simple and they did as…

    Review published ago

    process was simple and they did as promised. We finally were smart and ordered the money a week in advance and it was delivered to our door. An extra plus was a packed with our money with an offer to buy back the unused currency. Yes, it was for a charge but that is better than unused currency.

    by Scot Schug

    Excellent service

    Review published ago

    Excellent service. Fast delivery!

    by Kurt W

    Excellent service

    Review published ago

    Excellent service. Fast delivery!

    by Kurt W

    Essy to do

    Review published ago

    Essy to do. I have used Travelex several times with different currencies with no problems.

    by Randy

    Essy to do

    Review published ago

    Essy to do. I have used Travelex several times with different currencies with no problems.

    by Randy

    quick and easy

    Review published ago

    quick and easy. thanks

    by Shari Courser

    quick and easy

    Review published ago

    quick and easy. thanks

    by Shari Courser

    It was so easy to select what I needed…

    Review published ago

    It was so easy to select what I needed AND enter in my airlines reward to get a discount! Even going to the airport they were very easy to get to and get in and out within the 1 hour free parking!

    by Suzanne Jackson

    Very easy to use.

    Review published ago

    Very easy to use.

    by Robert W.

    Continued Good Service

    Review published ago

    As usual, order was promptly executed and delivered at the agreed upon exchange rate.

    by Robert Zysk

    It was very easy to order the amount of…

    Review published ago

    It was very easy to order the amount of money we needed. We received it quickly and with no problems.

    by Michele Bancroft

    Fast and reliable.

    Review published ago

    Fast and reliable.

    by Monika Kalinowska

    Easy online order

    Review published ago

    Easy online order. Pick up worked great.

    by Chad Papst

    very fast service and required a…

    Review published ago

    very fast service and required a signature, I like that

    by Yvette Deschaine

    using this service was easy and…

    Review published ago

    using this service was easy and convenient and the rates were the same as what was paid at our bank

    by customer

    Great service

    Review published ago

    Great service - fast & easy

    by Dorothy Friesenborg

    ALWAYS ON TIME

    Review published ago

    ALWAYS ON TIME, VERY SECURED. I BELIEVE THEY WILL RESPOND IN THE SAME MANNER IF YOU NEED TO SELL .

    by GERMAN D GOMEZ

    Reliable

    Review published ago

    Reliable, dependable service.

    by KARA HILL

    Easy

    Review published ago

    I have used Travelex a few times and have never had any problems. Money arrived promptly. Website is easy to navigate. Would highly recommend.

    by diane kennedy

    Great service

    Review published ago

    Great service, prompt delivery.

    by DM

    Easy app and website to use

    Review published ago

    Easy app and website to use

    by Jennifer Gregerson

    Very easy to do business with and…

    Review published ago

    Very easy to do business with and delivered the next day.

    by Jorge Simmons

    So simple and easy!

    Review published ago

    Very easy and cost was less than other companies. Thanks you!

    by Rebecca Mora
    show more >>

    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.