Travelex Wire Overview:

Travelex is among the largest foreign exchange companies in Australia. They allow currency exchange in the form of cash, drafts, foreign checks, travel checks, telegraphic transfers and travel card. Few organizations offer these many options for currency exchange. Because it is a big company, they have been successful in establishing many stores and pick-up locations. This makes the consumer’s life much easier. They currently operate with 87 currencies.

Advantages:

  1. Consumers can place orders 24*7. They are available online at all times
  2. Travelex has thousands of shops and pick-up locations across Australia.
  3. Travelex has an exchange rate that is better than most of their contemporaries in Australia.
  4. They do not charge commission.

Disadvantages:

  1. If currencies are to be purchased with a credit card online, a card handling fees is charged by Travelex.
  2. Consumers have found that the wait period for online orders (3 - 5 days) to be too long of a wait. Emergency orders will not be possible.

Reviews from trust pilot:

  • “Friendly service when I picked up my order!”
  • “Money Card has been great in Japan. It's convenience as 7/11 ATMs are everywhere and easy to use. Just one thing not quite sure why, my balance was keep going up and down for +/-30 to 40 Yen, even though Travelex claims the exchange rate is fixed.”
  • “I always purchase my US Currency through Travelex. Easy, convenient locations and great rates.”
  • “Very convenient, easy to order and competitive price”
  • “So easy to do!”

Verdict:

Travelex wire is the largest foreign exchange company in Australia. True to their position of number one, Travelex has been successful in retaining consumer loyalty. The presence of physical pick-up store in almost every corner is a big advantage. However, it is not the best option for immediate and/or emergency transfers.

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