Travelex Re-signs Agreement with U.S. Bank: Allows Branches to Sell Cash Passport and Other Travelex Products

Louisville, KY – [June 9, 2009] – Travelex has announced that they have re-signed an agreement with U.S. Bank that continues a relationship first established in 2003.  The new agreement allows the entire U.S. Bank branch network to offer Travelex’s multiple products such as Cash Passport and banknotes.

 

“We have had a great relationship with U.S. Bank for six years now,” said Steve O’Donovan, Travelex’s managing director of North America.  “This new agreement allows us to continue offering our services to their customers more effectively.  Through the extended agreement we can offer a whole range of products.”

 

After the initial contract between the two companies was signed in 2003, Travelex entered an onsite agreement with U.S. Bank in January of 2005.  The two companies signed an amendment to their agreement to allow Cash Passport, a prepaid card denominated in Euro and British Pound Sterling to be sold in U.S. Bank branches in August of 2008.

 

“I am very excited about this new agreement with Travelex,” said Gail Mason, SVP, Consumer Banking Support Services.  “Travelex and their products allow us to greatly expand the services we can offer our customers.  The response, so far, from our customers has been overwhelmingly positive and we are excited about the opportunities presented for the future.”

 

There are currently eighteen onsite locations in the states of California, Oregon, Colorado, Illinois and Ohio.  The onsite agreement allows certain branches in those locations to have products available for immediate delivery.  For other branches, the products can be purchased at the bank, but the products themselves are delivered to the customer’s homes.

 

About Travelex

Travelex is the world’s foreign exchange, business payments specialist and leading provider of travel insurance, operating through subsidiaries and branches in these regions: the Americas, United Kingdom; Europe, Asia Pacific; and Middle East and Africa (EMEA). As one of the world’s leading providers of outsourced travel money to banks, travel agencies and other retailers it provides products including its prepaid currency card to over three million channel customers annually. Through its world-leading automation Travelex offers consumers a full range of delivery channel options including telephone and Web-based ordering. For more information about Travelex or Cash Passport visit www.cashpassport.com and/or www.travelex.com/outsourcing.

 

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