Holiday Proposal

LOUISVILLE, Ky., Aug. 12 /PRNewswire/ — Travelex and long-time ally the Independent Community Bankers of America (ICBA) have reached an agreement for ICBA member banks to sell recently-launched Cash Passport(TM) currency cards and Travelex CashPax(TM). The agreement is expected to increase the rapid adoption of these foreign currency products for leisure and business travelers across the country.
“The adoption of these products by travelers has been incredible considering how new these products are to the North American market,” said Christopher Russell, Travelex’s executive vice president of outsourcing, Americas. “Thanks to this new agreement with ICBA we can reach an even wider audience and continue our very successful relationship.”
The new agreement allows banks to sell:
– Cash Passport — Prepaid foreign currency cards available in Euros and British Pounds. Cash Passport can be used to withdraw money from ATMs or be used to purchase goods and services at any merchant that accepts MasterCard(R). Because Cash Passport is denominated in foreign currency, the exchange rate is locked in at the time the card is purchased.
– CashPax — Wallet-sized pack of foreign currency that eliminates the calculations previously required for foreign currency transactions. These packs provide traveling customers with enough foreign currency to pay for taxis and other immediate cash transactions. CashPax include small denominations of paper money as well as coins in bundles of $100 or $250. They are available in Canadian Dollars, Euros, Australian Dollars, British Pounds, Japanese Yen, Swiss Francs, and Mexican Pesos.
“With the economies of the world in a constant state of flux it seems that foreign currency cards are the future. They provide a convenient, rapid and financially responsible alternative for travelers and we are always looking for the best new products to make available to our customers,” said Dan Clancy, senior vice president of services for ICBA. “In North America, the Cash Passport is the only foreign currency card available and we have had tremendous success in the past with Travelex as a long-term business partner.”
Both CashPax and Cash Passport offer greater security than carrying large amounts of cash, something a recent survey conducted by Travelex shows is a priority for travelers. Cash Passport comes with Global Emergency Assistance which offers customers a number to call for assistance 24-hours a day for lost wallets or passports, legal or medical assistance, and translation services. If the card is lost or stolen the balance is protected and can be replaced in as little as 20 minutes in most locations around the world.
For more information on the innovative foreign currency Cash Passport cards please visit .
About Travelex
Travelex is the world’s foreign exchange, business payments specialist and leading provider of travel insurance () operating through subsidiaries and branches in these regions: the Americas, United Kingdom; Europe, Asia Pacific; and Middle East and Africa (EMEA).
As one of the world’s leading providers of outsourced travel money to banks, travel agencies and other retailers it provides products including its prepaid currency card to over three million channel customers annually. Through its world-leading automation Travelex offers consumers a full range of delivery channel options including telephone and web-based ordering.
About ICBA
The Independent Community Bankers of America, the nation’s voice for community banks, represents nearly 5,000 community banks of all sizes and charter types throughout the United States and is dedicated exclusively to representing the interests of the community banking industry and the communities and customers we serve. For more information, visit .
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Tags: Financial //