Travelex collapses into administration | Australian Frequent Flyer
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Travelex collapses into administration

Mattg

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Foreign currency exchange business Travelex is now in administration, with more than 1,300 jobs immediately impacted.

As far as I can tell, most of the Australian outlets still appear to be open. Although, when I tried to get some foreign currency exchanged back to AUD a few months ago, they only accepted a few of the major currencies. I was told that was a temporary thing due to Forex volatility with many currencies.

 

henrus

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Jun 23, 2016
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Hardly surprising given they were often the most expensive (in terms of the exchange rate getting cash).

It probably doesn't help that more countries/places are now accepting cards with contactless payments becoming standard.
 

Mattg

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It probably doesn't help that more countries/places are now accepting cards with contactless payments becoming standard.
Indeed. With rare exceptions, I haven't had to use a physical currency exchange outlet for several years now. Just withdraw at the destination from an ATM using a fee-free card (e.g. Citibank Plus). I can only imagine how much money this has saved me over the years - not to mention the convenience!

I guess that one day - albeit a fair way into the future - outlets like Travelex will become about as redundant as traveller's cheques.
 
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Spongbob

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Plus the convoluted and lengthy process Travelex had in order to get cash.
Then go to an outlet, and wait in line for 15 minutes while someone tries to exchange $20,000USD into AUD.
 

tomcut2000

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that is very sad news to hear! that is the company I used to exchange cash before I travelled overseas in the past
 

oz_mark

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The brand will still be around in Asia Pacific. The good bits have been spun off....
 

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