Travelex Visa TravelMoney® Named Overall Category Winner of “Best Consumer Card Program” at Industry Gala

Louisville, KY—March 12, 2008The Travelex Visa TravelMoney® prepaid card was named the category winner for “Best Consumer Card Program” on March 4, 2008 at the Paybefore Awards Gala held during the Prepaid Card Expo in Las Vegas.  The Travelex Visa TravelMoney card is used extensively by leisure travelers and has begun to be adopted by businesses as a tool to fund overseas staff expenses.

 

“I am pleased to see the Travelex Visa TravelMoney card receive this industry honor,” said Dan Clancy, senior vice president of services for the Independent Community Bankers of America.  “Travelex has been an ICBA Preferred Service Provider since 1982 and its array of travel money products has been a longstanding and valuable component of our members’ portfolio of offerings.”

 

“Travelex has worked closely with many industry-leading organizations to deliver the best product in the market and we see this award not just for those that work at Travelex, but also in praise of all of our equally hard-working partners in making this card the success it is today,” said Christopher Russell, Travelex’s executive vice president of outsourcing, Americas.

 

In markets, such as the United Kingdom, product adoption has been supported by a high rate of recommendation, with 90%[1] of users likely to recommend the product to a friend or colleague.  Purchased by the majority of respondents for use on multiple trips abroad, it was the PIN and signature security of the product alongside the budgeting element of prepaid that attracted most users.

 

 

 

“It is an honor to know that the Travelex Visa TravelMoney card was cited by the judges as having unrivalled global support and outstanding customer service,” said David Sear, divisional managing director, outsourcing.  “From a global perspective, we support a range of currencies across multiple geographies and our worldwide Cash Passport™ business success is driven by our bank and travel agent partners around the world that count on Travelex to have an unbeatable global service network.”

 

The Travelex Visa TravelMoney card was launched in 2004 in the United States and more than 160,000 Travelex cards were purchased in 2007 totaling more than $150million USD.  The cards can be reloaded with cash as many times as desired and Travelex expects to issue 500,000 cards in 2008.  The added value of the convenience and safety of a prepaid card that is not tied to the traveler’s personal bank account and is replaceable overnight has driven steady adoption of this product.  The card is available for sale at financial institutions and travel companies across North America.

 

About Travelex

Travelex is the world’s foreign exchange and business payments specialist, 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 travel 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 visit www.travelex.com/us/

 

About ICBA
The Independent Community Bankers of America, the nation’s voice for community banks, represents nearly 5,000 community banks of all sizes and charter types throughout the United States and is dedicated exclusively to representing the interests of the community banking industry and the communities and customers we serve. For more information, visit www.icba.org <http://www.icba.org/> .

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[1] UK Cardholder Customer Service Research, December 2007

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