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Travelex International Payments

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Travelex International Payments

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Our verdict

Transfer your money overseas with a brand you trust.

Travelex might not offer the mid-market exchange rate for your overseas money transfer but you'll always get real-time rates and see any fees that apply upfront. This makes Travelex a strong contender for your online and in-store money transfers where you can make use of spot, forward and option contracts. Transfers can be delivered within two days and can be sent to your recipient's bank account or debit card. Cash pick-up is only available in the Philippines.

Although never hidden, rates and fees do vary. For example, from Australia, you can benefit from zero fees on online transfers. Travelex uses OFX as their foreign exchange provider, who are known for their competitive rates on large transfers.

Travelex is a foreign exchange and international payments provider. To transfer money simply register, enter an international bank account, select the currency you want and transfer the money to, and send the money to Travelex using BPAY or EFT.

In this guide

  • Our verdict
  • Details
    • Product details
  • Frequently asked questions
  • Your reviews
  • Ask a question

Details

Product details

Product Name Travelex International Payments
Pay By Bank transfer, PayID
Receiving Options Cash pickup location, Bank account
Customer Service Live chat, Email
Maximum Transfer Amount Unlimited
Number of Currencies 41

What international payments services does Travelex offer?

Once your account is fully verified, you can enter into the following contracts with Travelex.

  • Spot contracts,
  • Forward contracts,
  • Option contracts,
  • Foreign currency order contracts.

See the frequently asked questions section of this article for an explanation of what these terms mean.

Services not offered

Travelex do not issue travellers cheques or overdrafts, they won't process a transfer between two accounts of the same currency and they won't perform a cash transfer.

How to use Travelex to send money overseas

Once you register and set up your account, you need to add a beneficiary or beneficiaries - someone receiving the money - to complete a transfer. Save the beneficiary, add them as a payee and choose the currency you want to convert the funds to once you log into the Travelex international payments website.

Five things you need to know about Travelex international payments

How to get the best price on international money transfers

  • You need to contact Travelex with proof of a better price from another foreign exchange provider within 30 minutes of getting your quote from Travelex and before you confirm the Travelex transfer.
  • If you do find a better price and you want Travelex to beat the foreign exchange quote. You'll need to contact Travelex and give them your details along with the total price you've been quoted*, and something to confirm the dates and times the competitor's quote was obtained. You will also need to provide the mid-market rate of the currency the foreign exchange margin was applied to. You can get this information from the quote provider.
  • The International Payments Promise only applies to Australian customers.
  • The payment promise only applies to Travelex transactions made online or over the phone.

Fees for small purchases

  • A transaction fee applies to transfers under $10,000. In some cases, 'third party fees' may be charged by the overseas bank when the money is received. If there are third party bank processing fees, the charge will be deducted from the total amount received by the beneficiary.

Compare Travelex to other money transfer services

Our table below lets you compare services you can use to send money abroad. Compare fees, exchange rates and discounts from different money transfer services, and when you have made your choice, click Go to site.
Name Product Filter Values Fastest Transfer Speed Fees (Pay by Bank Transfer)
TorFX
24 hours
$0
TorFX sends money overseas in 40+ currencies, with competitive rates for transfer amounts over $2,000.
Xe Large Transfers
24 hours
$0
Xe has fast transfers with low fees and a range of foreign currency tools.
OFX
24 hours
$0
OFX has no maximum limit transfers, with competitive exchange rates for 50+ currencies.
Send Payments
24 hours
$0

Send provides fee-free transfers via its 24/7 multi-currency payments platform with real-time quotes.
Revolut
Within minutes
$0
Send money with great rates and low fees in 30+ currencies.
Xe Money Transfers
Within minutes
$0
Xe has fast transfers with low fees and a range of foreign currency tools.
Instarem
Within minutes
From 0%
50% off first transaction fee from any country in APAC (outside India).
Minimum transfer of $250 and max transfer of $500,000
Wise (TransferWise)
Within minutes
From 0.43%
Wise uses the mid-market rate and transparent fees to help you send money in 50+ currencies.
TorFX
24 hours
$0
TorFX sends money overseas in 40+ currencies, with competitive rates for transfer amounts over $2,000.
Remitly
Within minutes
From $0
Remitly has quick, affordable transfers around the world, with both express and economy options.
WorldRemit
Within minutes
From $0.99
Use promo code 3FREE and pay no fees on your first 3 transfers. Conditions apply.
WorldRemit sends money to 110+ countries for bank-to-bank deposits, cash pick-ups or mobile top-ups.
Rocket Remit
Within minutes
From $0 to $5
Send money instantly to friends and family in over 45 countries using just your mobile number.
MoneyGram
Within minutes
From $1.99
MoneyGram has fast cash pick-up transfers to more than 350,000 agent locations worldwide.
SingX
Within minutes
From 0.5%
SingX offers the real exchange rate every time you make a transfer and can help you send money across the world.
CurrencyFair
Within minutes
€3
CurrencyFair has bank-beating exchange rates and fast transfer times on 15+ popular currencies.
OFX
24 hours
$0
OFX has no maximum limit transfers, with competitive exchange rates for 50+ currencies.
Send Payments
Send Payments
24 hours
$0
Send provides fee-free transfers via its 24/7 multi-currency payments platform with real-time quotes.
MasterRemit
Within minutes
From $0
Get your 1st and 2nd money transfer for free with promo codes FIRSTFREE and MASTERFINDER!.
Send money in minutes at competitive exchange rates to the Middle East, Africa and South Asia.
Western Union
Within minutes
From $0
Western Union sends money online to friends and family in 200+ countries around the world.
Qantas Business Money
Within minutes
$0
Limited time offer: Earn up to 125,000 bonus Qantas Points as a first-time converter. Ends 30 April 2024. Conversion limits and T&Cs apply.
Set up accounts in 11 different currencies and get rewarded for global business payments by earning Qantas Points.
Airwallex
Within minutes
$0
Streamline global payments in 60+ currencies. Send & receive securely in 150+ countries, with fast settlements & competitive rates. Simplify book-keeping & manage everything in one place.
TorFX Business Transfers
24 hours
$0
TorFX guarantees to match any competitor's exchange rate. Conditions apply.
TorFX sends money overseas in 30+ currencies, with competitive rates for transfer amounts over $2,000.
OFX Business Transfers
24 hours
$0
OFX has no maximum limit transfers, with competitive exchange rates for 45+ currencies.
WorldFirst
24 hours
From $0
Open bank accounts in Australia, the UK, US, Canada, Japan and Europe. Send and receive funds with zero fees for large sums, including same-currency supplier payments.
Send business
24 hours
$0

Send provides fee-free transfers via its 24/7 multi-currency payments platform with real-time quotes.
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Information about registration

When you register for Travelex international payments, you need to enter the usual personal information and you also select the currency you have and the currency you want to send.

Verify your account

Once the registration is complete, you'll need to speak to a Travelex representative before your account is fully verified. A quote on spot deals is available at this stage of registration, but only a quote and not limit orders or forward deals.

Frequently asked questions

  1. Travelex official website, accessed March 2023

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Tim Finder

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eric

December 18, 2014

we import products in Australia manufactured in the € zone

we believe we will import around 3M€ of products per year for the next 4 years .. we need to provide a fix price in Aus$ during the next 4 years .. what can you offer ?

thanks

eric


Avatar

Shirley Liu Finder

December 18, 2014

Hi Eric,


Thanks for your question.


This enquiry is best directed to Travelex instead, as finder.com.au is an online comparison service.


All the best,

Shirley


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