Regulation

 

The Travelex International Payments service is provided by USForex Inc. USForex Inc. (“USForex”) is incorporated in Delaware with its principal office located in San Francisco, California.  USForex is a wholly-owned subsidiary of OzForex Group Limited  (“OzForex”).  OzForex is subjected to risk and compliance audits on an annual basis.

USForex is registered at a federal level with the Financial Crimes Enforcement Network (“FinCEN”), a bureau of the United States Department of Treasury.  In addition, USForex is licensed in a number of U.S. States by the relevant State Banking Department(s) as a Money Transmitter.  For further details on each of our respective State licenses, please refer to our list of licensed states:

Arizona California Colorado Delaware
Maryland Massachusetts Minnesota Montana
New Jersey New Mexico New York North Carolina
Oregon South Carolina Texas Virginia
Washington

 

 

Arizona (AZ)

Arizona Department of Financial Institutions
Money Transmitter License Number MT-0923780 (pdf)

California (CA)

State of California Department of Business Oversight
Money Transmitter License Number 2447 (pdf)

Colorado (CO)

Colorado Department of Regulatory Agencies
Money Transmitters License No 500197 (pdf)
Colorado Banking Board MO7 Customer Notice   

Entities other than FDIC-insured financial institutions that conduct money transmission activities in Colorado, including the sale of money orders, transfer of funds, and other instruments for the payment of money or credit are required to be licensed by the Colorado Department of Regulatory Agencies pursuant to the Money Transmitters Act, Title 12, Article 52, Colorado Revised Statutes. If there are questions or concerns regarding a transaction with a licensee, please contact the Colorado Department of Regulatory Agencies at 303-894-7575 or by mail at: 1560 Broadway, Suite 975, Denver, CO 80202.

Consumer complaints should be in writing, providing as much detail as possible. Please include the following information:

1. The name of the institution and the name of any person(s) at the institution with whom the complainant has had contact. Include telephone number(s) and addresses.

2. A complete description of the complaint and any efforts that have been made to resolve the complaint directly with the institution.

3. Copies of any available documentation supporting the complaint and efforts toward resolution.

4. Any suggestions regarding a preferred resolution of the complaint.

Delaware (DE)

State of Delaware Office of the State Bank Commissioner

Money Transmitter License Number  012035 (pdf)    

Maryland (MD)

State of Maryland Department of Labor, Licensing and Regulation – Office of the Commissioner of Financial Regulation
Money Transmitter License Number 1021624 (pdf)

The Commissioner of Financial Regulation for the State of Maryland will accept questions or complaints from Maryland residents regarding USForex at: Commissioner of Financial Regulation, Attention Complaint Unit, 500 North Calvert Street, Suite 402, Baltimore, Maryland 21202, toll-free telephone number: 1-888-784-0134.

Massachusetts (MA)

Department of Consumer Affairs and Business Regulation - Division of Banks
Foreign Transmitter License #FT1021624 (pdf)

Minnesota (MN)

Department of Commerce, Banking, & Finance.
Money Transmitter Services Provider License Number MT 52111 (pdf)

If you are a resident of Minnesota you may voluntary disqualify yourself from sending or receiving money transfers through USForex by contacting compliance@usforex.com. All voluntary disqualifications expire within one year from the date of the request, unless you specify that the request remain in effect for a longer period. You may terminate the disqualification at any time by providing written notice to USForex at compliance@usforex.com. Individuals who request disqualification are subject to inclusion on Minnesota’s “No Transmit List” and as such USForex may be obligated to provide your identifying information to the Minnesota Department of Commerce. For more information on Minnesota’s “No Transmit List,” please see Minne. Stat. 53B.27, subd 3.

Montana (MT)

No Money Transmitter license is currently required under State law.

New Mexico (NM)

No Money Transmitter license is currently required under State law.

New Jersey (NJ)

Department of Banking and Insurance Division of Banking
Money Transmitter License Number L066157

New York (NY)

New York State Department of Financial Services.
Money Transmitter License Number 152930 

USForex Inc. is regulated and licensed by the New York State Department of Financial services to transact the business of receiving money for transmission within this country and abroad. New York consumers can direct unresolved complaints to the Consumer Assistance Unit, NYS Department of Financial Services, One Commerce Plaza, Albany NY 12257, ph (800) 342-3736, website www.dfs.ny.gov/consumer/fileacomplaint.htm

North Carolina (NC)

North Carolina Commissioner of Banks
Money Transmitter License Number 152930 (pdf)

Oregon (OR)

Oregon Department of Consumer and Business Services – Division of Finance and Corporate Securities(DFCS)
Money Transmitter License Number MTX-30117 (pdf)

South Carolina (SC)

No Money Transmitter license is currently required under State law.

Texas (TX)

State of Texas Department of Banking – Office of the Deputy Banking Commissioner Money Transmitter License Number 3075. (pdf)

Texas residents: If you have a complaint, first contact USForex at 1-888-288-7354. If you still have an unresolved complaint regarding the Travelex International Payments money transmission and currency exchange service, please direct your complaint to: Texas Department of Banking, 2601 North Lamar Boulevard, Austin, TX 78705, 1-877-276-5554 (toll-free) www.dob.texas.gov .

Virginia (VA)

Commonwealth of Virginia, State Corporation Commission – Bureau of Financial Institutions (BFI)
Money Transmitter License Number MO-261 (pdf)

Washington (WA)

The State of Washington Department of Financial Institutions (DFI)
Money Transmitter License Number 550-MT-70494 (pdf)

Right to Refund—The following applies only to Transactions that are submitted by Senders in the State of Washington: You, the customer, are entitled to a refund of all monies received for transmittal within ten (10) days of receipt of a written request for refund unless any of the following occurs:

(i) The monies have been transmitted and delivered to the recipient prior to receipt of the written request for a refund;

(ii) Instructions have been given committing an equivalent amount of money to the person designated by the customer prior to the receipt of a written request for a refund;

(iii) USForex has reason to believe that the a crime has occurred, is occurring, or may potentially occur as a result of transmitting money as requested by the customer or refunding the money as requested by the customer; or

(iv) USForex is otherwise barred by law from making a refund

 

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The Travelex International Payments service is provided in the U.S by USForex Inc.USForex Money Transfer Services

 

This Travelex International Payments website contains information obtained from sources believed to be reliable and has been prepared in good faith and with all reasonable care. USForex makes no warranty, express or implied, concerning the suitability, completeness, quality or exactness of the information and models provided in this website.

Neither USForex, its related entities, nor any of its providers of information, have any liability to the user, or any other third party, for the accuracy of the information or models contained in this website, or for any errors or omissions therein, nor will USForex or any of its providers of information have any liability for the use, interpretation or implementation of the information or models contained herein by any person.

Travelex receives 50% of net revenue arising from USForex’s provision of Travelex International Payments services. Net revenue is the revenue arising from foreign exchange margins (or spread) and fees, less all costs incurred in providing the services including but not limited to, administrative costs, compliance costs and sales and marketing costs.

*Restrictions apply. For full Terms & Condtions, refer to our International Payments Price Promise.

**Exchange rates are current at the time of conversion and are subject to change without notice. Exchange rates are indicative only and do not include fees and charges that may apply. Certain foreign currencies are not available under Travelex International Payment service.