Travelex review

Our Verdict

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. While in the UK, you’ll pay at least 3% of the amount you send online.

Travelex International Payments exchange rates

Travelex adds a margin to the mid-market exchange rate in order to make a profit. They are generally more expensive than using an online money transfer specialist but offer convenience.

The registration and transfer process

Sending money with Travelex is easy and takes only a few steps:

1. Sign up for account with online
2. Select where and who you’d like to send money to
3. Pay using your card – that’s it!

How much does it cost to make an international money transfer using Travelex?

When you set up your order, you’ll be given a quote for the exchange rate and a fee for making the transfer. Due to the foreign exchange market changing constantly when open, you may find your quote changes a little as you are setting up your order.

You’ll know the latest exchange rate before you confirm payment of your order, and Travelex will confirm the exact exchange rate once your order is booked. The exact fee depends on the amount you wish to send:

• For orders up to and including £300, the fee is fixed at £3.
• For orders over £300, the fee is computed as a percentage of the amount you are sending, and will be clearly displayed to you within Travelex.

Other fees may apply depending on the amount and currency type you send – for more information, see the FAQs on the Travelex website.

Minimum transfer amount and available countries

Travelex has a minimum amount of £50, and a maximum order amount of £75,000 per single payment.

United States regulation has a maximum order limit per single standard payment of $50,000 USD. Transfers over $50,000 USD can be made using SWIFT payment and this option can be selected to send up to the equivalent amount of £75,000.

For any transactions above £25,000 Travelex recommends that you check with your bank that these can be processed using a debit card.

Travelex allows you to send funds to 35 countries across North America, Oceania, Asia and Europe. You can see the receiving options available in each country, by visiting the Travelex website. Popular transfer destinations include:

Europe