Travelex has more than 800 retail stores across 30 countries.
Travelex has more than 800 retail stores across 30 countries. Among the company’s innovative services is Cash Passport, which allows users to pre-load their travel budget onto a convenient card for safe and convenient use in millions of ATMs, shops, and restaurants worldwide. US customers requiring a Chip and Pin solution for Euro and Pounds Sterling transactions in Europe and the UK can look to Travelex for help.
Visit: Travelex Currency Services online at www.us.travelex.com
Anthony Wagerman is Divisional Managing Director for Travelex Currency Services and has full responsibility for Travelex’s global currency services operations. These include the retail foreign exchange network of over 780 shops, partner relationships with financial institutions, travel agencies and supermarkets and supply products and services including insurance, wholesale banknotes and FX ATMs. Prior to this, Anthony was Head of Group Marketing & Communications for Travelex with responsibility for corporate communications, media relations, advertising and brand identity and sponsorship properties. Anthony has a BSc (Hons) in Chemistry & Business Studies, and an MBA specializing in Marketing. His previous employers include Heron Corporation and Arthur D Little Management Consultants.
Anthony suggests travelers use what he calls a "mixed wallet" approach when it comes to bringing money on a trip. Diversify with cash, credit and debit cards. US travelers visiting Europe may find it difficult to use their US credit and debit cards because much of Europe has adopted the Chip and Pin credit card technology which uses a microchip and pin for transactions rather than the magnetic strip US credit cards use. European merchants are so used to the newer technology that even if they have machines that could accept US cards, they are afraid to do so since they have proven less secure. Plus, if a merchant tries to use your US card and then the system asks for a pin number, this will result in a declined transaction and your card might be deactivated due to suspected fraudulent activity.
When you travel arrive in a foreign country, deplaining, getting through customs and picking up your baggage can be a hassle. Don't compound that with then having to sort out purchasing currency at the airport before you can purchase a drink or food, arrange transportation, while dealing with a foreign language you don't understand well and recovering from the strains of plane travel. One option to help ease at least a part of traveling is to pre-arrange your foreign currency needs so that when you land abroad, you are ready to hit the ground running with purchases in local currency.
Also consider that in Europe and the UK many of the merchants and stores have upgraded their equipment and no longer support using American style magnetic strip credit cards! So if you travel to Europe or the UK with your normal credit cards you may be surprised to find out they will not work.
The Cash Passport Chip and Pin Credit Card from Travelex allows you to pre-purchase Euro's or Pounds Sterling on a a credit card which you can use throughout Eurozone countries and within the UK before you travel. Order the card online at www.us.travelex.com and have them overnight a Chip and Pin card to you. Click here for shownotes and more info.
Travelex started with a single store in London in 1976 and now has more than 1000 stores worldwide. They launched its US presence in 1985 in New York's JFK Airport. Jon shares his expertise and information about chip and pin technology and the Travelex Euro Cash Passport designed to enable US travelers to easily make purchases in Europe and the UK where US magnetic strip credit cards may not easily work or might not work at all.
Jon Dario manages Travelex's currency services business for the Americas, holding full profit and loss responsibility for more than 235 retail locations as well as more than 2,000 partner customers.
Jon has been with Travelex for over 5 years and in that time he has worked to establish a true retail foundation for the business.
April 16, 2011: - 18:16 minute segment.
US travelers may experience difficulties using their atm, debit and credit cards in Europe and the UK due to a fundamental shift in merchant technologies in use in those locations. Chip and Pin technology has all but replaced conventional magnetic swipe cards that are still used in the US. The newer, and apparently more secure, Chip and Pin technology uses a physical ID chip along with a pass code to authorize transactions. Many merchants no longer have equipment to read the US style magnetic strips, or if they do have the reader, the software now requires a pin number that Americans won't have. This can result in failed transactions which then may trigger fraud alerts and frozen accounts. Travelex offers a debit style Chip and Pin soltuion for travelers abroad. Click here for shownotes and more info.