FAQs

  • Why are you a better choice than my bank or another provider?
  • How do I know my money is safe with you?
  • How do I register?
  • How do you keep your rates so low?
  • Must I already be a client to use your service?
  • How long does it take to complete an international funds transfer??
  • Must you already have my funds before I can lock in an exchange rate?
  • How  do I make payments for international fund transfers?
  • How do I use a Debit Card to pay you?
  • When must I pay after confirming a deal?
  • What is a forward contract?
  • What is a limit order?
  • Who can use this service?
  • Are your services only provided via the Internet?
  • What is the difference between a "telegraphic transfer", a "wire" and a "TT"?
  • What are: Swift codes, Sort codes and ABA & IBAN numbers? 

 

Why are you a better choice than my bank or another provider?

Simply stated, using the Travelex International Payments service can save you money.

With the International Payments Price Promise, you'll always get the lowest overall cost for your international money transfer*. The Travelex International Payments service has consistently saved clients thousands of dollars (for larger amounts, the savings can even exceed tens of thousands).

The Travelex International Payments service provide the following features:

  • Forward Contracts – For customers who wish to make a payment on a specific future date.
  • Limit Orders – For customers who wish to make a transfer only after a specific rate is reached.
  • Regular Payments – For customers who wish to make regular international fund transfers.
  • An experienced customer service team is available 24-hours per day, Monday to Friday.
  • State-of-the-art technology is employed to ensure reliability.
  • Travelex International Payments’ competitive rates that are backed up with the International Payments Price Promise*.

 

Why are you a safe choice? 

  • The Travelex International Payments service and its provider – US Forex - are foreign exchange transfer specialists.
  • The foreign exchange service provided is deliverable-only.
  • No market positions are held.
  • Transactional/market risk is low.

 

USForex – the service provider to Travelex International Payments - maintain a high level of security for their online platform, including:

  • 2048 bit SSL certificates for traffic encryption.
  • Thawte third-party security certificates to protect clients' transactions.

How do I register?

Free registration is available online 24/7. Once you have completed your registration, an experienced representative will contact you to discuss your requirements, answer your questions and help you ensure your transfer is arranged in accordance with your needs.

Normally, the system will identify you electronically, so there will be no need for you to send further documentation. In the event that further identification is necessary, you'll be notified what documents you need to provide.

You can make all your payments online and customer services also is available 24 hours per day, Monday through Friday, to assist you if needed.

How do you keep your rates so low?

Because of the volume of transfers handled by USForex – the service provider to Travelex International Payments, they realize substantial savings in the interbank market, which the Travelex International Payments service passes on to clients. Keeping overheads low via highly efficient operation helps the Travelex International Payments service achieve further savings, which are also shared with clients.

Must I already be a client to use your service?

Many of the services on the Travelex International Payments service website are available to non-registered clients, including charts, historical rates, calculators and international currency information. Users that take advantage of our free registration can also compare rates offered through the Travelex International Payments service to those of their present provider by simply logging in.

How long does it take to complete an international funds transfer?

Many times, your transfer will be delivered to the recipient on the same day that your funds clear. But depending upon the country and currency involved, it can occasionally take up to 1-2 days to complete the transfer. If your transfer is of a particularly urgent nature, please let your representative know. We'll do everything we can to help you expedite the transaction.

Must you already have my funds before I can lock in an exchange rate?

Absolutely not. The process for locking in your exchange rate is as follows:

  1. Lock in a binding exchange rate.
  2. Provide your beneficiary details.
  3. Send your payment to USForex – the service provider to Travelex International Payments.
  4. USForex will send the currency you have bought when payment has been received

How do I make payments for international fund transfers?

There are a number of ways to transfer funds to USForex – the service provider to Travelex International Payments. The most common mode is via Electronic Funds Transfer (EFT). Most banks offer EFT options and we maintain accounts in all major currencies. However, checks or cash cannot be received into USForex’s accounts. Please be aware that some banks may charge you a fee for an EFT, and this should be evaluated in the overall cost-benefit of using the Travelex International Payments service.

When must I pay after confirming a deal?

Once you have entered into a binding agreement, USForex – the service provider to Travelex International Payments – expect to receive your fund transfer within 48 hours. We understand that occasionally things happen to delay the process, so if you encounter difficulty please let your representative know as soon as possible. We'll do our best to accommodate your needs, but it's important that you communicate the problem before the deadline has passed, or your exchange rate may not be held.

What is a forward contract?

When a pre-set exchange rate is used to exchange one currency for another at a future date, it is called a forward foreign exchange rate

Using a forward foreign contract removes the stress of uncertainty when exchanging one currency for another.

Forward contracts offer the following features:

  • You can lock in an exchange rate now for a transaction that you intend to make at a predetermined future maturity date.
  • This can protect you from exchange rate fluctuations during the contract term.

What is a limit order?

With a limit order, you can set instructions to either buy or sell at a target rate. A limit order will automatically execute a buy or sell order for you, so that you needn't monitor the market yourself. They can be valid for any term between 2 and 365 days for any amount over $20,000 USD or its equivalent.

Who can use this service?

At present, the service is only available to provide international payments for private clients residing in the United States in which the service provider to the Travelex International Payments service - USForex - is licensed, and has received approval or “no-objection” from the licensing authority. The clients must be transferring money to a recipient in a foreign country. Funds can only be received into a bank account that is capable of receiving fund transfers. Currently we are licensed and have received approval and/or “no objection” from the relevant licensing authority in these States.

Are your services only provided via the internet?

No. 24-hour customer service via telephone is maintained, Monday to Friday, for all of the Travelex International Payments services. The same competitive rates offered online are available to you if you book your deal over the phone.

Contact us by clicking here.

What is the difference between ‘a telegraphic transfer’, a ‘wire’ and a ‘TT’?

For the purposes of international fund transfers, there is no difference at all.  They are all forms of making electronic payments between banks.

What is the meaning of: Swift codes, Sort codes and ABA & IBAN numbers?

  • SWIFT codes are an 8 - 11 digit alphanumeric system that is internationally recognized for precisely identifying the country, location, bank and branch, for transfer purposes.
  • Sort codes are assigned to individual branches of a bank in some countries.
  • An ABA (American Bankers Association) number is a 9-digit bank code assigned to identify banks in the United States.
  • An IBAN (International Bank Account Number) is an international bank identification system, similar to the ABA number used in the US, which may include over 30 digits.

REGISTER ONLINE today and enjoy superior rates and committed customer service.

 

Travelex International Payments service is provided by USForex

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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.