Travelex

What Travelex does

Travelex is the world's largest specialist foreign exchange operator, founded in 1976 in London and serving customers across more than 20 countries through a global network of over 600 retail stores, 600 ATMs and 1,550 total sites including outsourcing partner locations. The company operates an omnichannel foreign exchange platform spanning cash (bureau de change, ATMs, wholesale banknotes), card products (Travelex Money Card, a multi-currency Mastercard prepaid card accepted at 35M+ merchants), and digital services (online ordering, mobile app, ATM Click & Collect, automated FX kiosks). Its 11 international vault and cash processing centres, some among the world's largest, support wholesale banknote distribution to financial institutions and central banks in over 80 countries.

Revenue is generated through transaction-based pricing via exchange rate spreads on retail currency exchange, card loading and reload fees, ATM transaction margins, wholesale banknote fees, and managed services for outsourcing partners including supermarkets, retail banks and travel agents. Travelex serves a horizontally segmented customer base: international travellers (retail), banking and financial institutions (wholesale and outsourcing), retail chains, central banks, and through Travelex Bank in Brazil, corporates and high net worth individuals requiring licensed FX banking services. The company is privately held, with more than 95% of issued share capital owned by institutional investors Barings, Vector, Corre and Mariner following a major 2020 restructuring after the COVID-19 collapse in travel. Reported FY2023 revenue of £534.2 million and underlying EBITDA of £58.8 million reflect strong post-restructuring recovery.

Name

Travelex

Legal name

Travelex International Limited

Website

https://travelex-corporate.com

Company type

Private

Founded year

1976

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

Travelex is the world's largest specialist foreign exchange operator, providing retail currency exchange, prepaid travel cards, wholesale banknotes, and FX outsourcing services across 20+ countries through 600+ stores, 600+ ATMs and digital platforms.

Ownership category

akta.pro rank

Product category

Foreign Exchange Services

akta.pro primary industry

Cross-Border Payments & FX (multi-currency wallets, DCC, remittance) (THALAHAE)

akta.pro secondary industries

Travel Money Cards & Multi-Currency Prepaid (FSAMANAI), Travel Wallets & Prepaid Accounts (Multi-currency, Per-diem) (THACAJAC)

Keywords

• Foreign currency exchange
• Travel money services
• Prepaid travel cards
• Wholesale banknote distribution
• International money transfer

Headquarters

HQ city

London

HQ country

United Kingdom

HQ region

Europe

Offices11 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Marketing or Sales, Technology or R&D, Supply Chain

Revenue model

1. Retail Currency Exchange: Sale of foreign currency cash to individual travellers through company-owned stores in airports, transport hubs, shopping malls, high streets, supermarkets and city centres. Also includes online sales with home delivery and click & collect options.
2. Prepaid Travel Cards: Multi-currency prepaid cards (Travelex Money Card) providing secure spending abroad. Revenue from card loading, currency conversion spreads, and ATM withdrawal fees. Cross-sold to existing walk-up customer base.
3. ATM Operations: Self-service currency exchange through approximately 600 ATMs worldwide. Revenue from currency exchange margins on ATM transactions.
4. Outsourcing Services: Foreign currency services provided to partner businesses (banks, supermarkets, travel agents) who want to offer currency exchange to their customers. Partners receive end-to-end operations or customised selections.
5. Wholesale Banknotes: Large-scale international banknote services supplying financial institutions from small banks to major banking groups and central banks in over 80 countries. Provides onshore B2B foreign exchange services and bulk currency delivery.
6. Brazil Operations: Fully-licensed FX specialist bank and broker in Brazil providing cash, cards, international payments including mass payments, import/export, and FX hedging for high net worth individuals, corporates and travellers.
7. Remittance Services: International money transfer services from Middle East locations, connecting retail store customers with money transfer products globally. Expanded through Nium partnership to Australia, Singapore, Hong Kong and Japan.

Pricing tiers

Go-to-market motion4 records

Distribution channels8 records

Marketing channels8 records

Core offering

Travelex is a global specialist foreign exchange business that sells physical foreign currency cash, multi-currency prepaid cards (Travelex Money Card), and international remittance/payment services through 600+ owned retail stores and 600+ ATMs in 20+ countries, complemented by an online and mobile platform offering home delivery and click-and-collect. Beyond retail, it provides wholesale banknote services to financial institutions in 80+ countries, FX outsourcing to banks, supermarkets and travel agents, and licensed FX banking through Travelex Bank in Brazil.

Product overview

Travelex operates a diversified omnichannel foreign exchange platform offering both cash and card products across retail, wholesale, and outsourcing business segments. The core product portfolio consists of: (1) Travelex Retail Stores and ATMs providing walk-in currency exchange at airports, transport hubs, and high street locations; (2) Travelex Money Card, a multi-currency prepaid Mastercard accepted globally; (3) Online and Mobile Services including home delivery, click & collect, and the Travelex Money App for card management; (4) Wholesale Banknote Services supplying currency to financial institutions and central banks globally; (5) Outsourcing Services enabling partners (banks, supermarkets) to offer FX; (6) Travelex International Money Transfer for remittances powered by Nium; (7) Travelex Plus loyalty scheme; and (8) Travelex Bank in Brazil providing licensed banking services. The company also offers innovative formats including ATM Click & Collect, Automated FX Kiosks, and Nomad Mobile Stores. Founded in 1976, Travelex serves customers in over 20 countries across six continents.

Differentiator

Problem solved

Functional benefit

Brands

• Travelex Money Card: Multi-currency prepaid card accepted at over 35 million MasterCard merchants worldwide
• Travelex Plus
• Travelex Nomad
• Travelex Money App

Products and services

• Travelex Retail Stores Physical retail stores offering foreign currency cash, Travelex Money Cards, ATMs, international payments and remittances, SIM cards, and travel insurance. Over 600 stores across airports, transport hubs, malls, high streets, supermarkets and city centres.
• Travelex Money Card Multi-currency prepaid Mastercard card letting customers load and lock exchange rates for multiple currencies, spend at over 35 million MasterCard merchants worldwide, and withdraw cash from ATMs. Compatible with Apple Wallet and Google Pay.
• Travelex ATMs Self-service ATMs allowing customers to purchase foreign or local currency using their card, dispensing currency in under a minute with rates displayed on screen.
• Online and Mobile Currency Services Digital platform enabling customers to order foreign currency online or via the Travelex mobile app with home delivery or click & collect from stores, with access to over 40 currencies and prepaid currency card management.
• Wholesale Banknote Services Large-scale international banknote services providing currency procurement and distribution to small financial institutions, major banking groups and central banks in 80+ countries, with capability across 60+ currencies.
• FX Outsourcing Services Foreign currency services delivered to partners including supermarkets, retail banks, and travel agents, providing either end-to-end FX operations or customised selections of products and services.
• Travelex International Money Transfer Digital international money transfer service powered by Nium's Remittance-as-a-Service platform, enabling customers to remit money to 50+ markets worldwide. Available in Australia, Singapore, Hong Kong and Japan.
• Travelex Plus Loyalty Programme Customer loyalty scheme launched in 2025 offering exclusive exchange rates and discounts to members in the UK.
• ATM Click & Collect Service allowing customers to pre-order foreign currency online at the best available rate and collect contact-free from Travelex ATMs at UK airports.
• Automated FX Kiosk Fully automated self-service foreign exchange kiosk at Heathrow Airport delivering currency exchange without staff intervention.
• Nomad Mobile Store Mobile retail store concept combining full bureau capabilities with pop-up flexibility. Can be moved to high passenger footfall areas and opened/closed within minutes.
• Travelex Money App Mobile application allowing prepaid card customers to manage their Travelex Money Card on the go, including balance and transaction history viewing, moving money between currencies, and topping up.
• Travelex Bank (Brazil) Fully-licensed FX specialist bank and broker in Brazil regulated by Banco Central do Brasil, providing cash, cards, international mass payments, import/export, and FX hedging for individuals, corporates and travellers.
• Confidence Cambio (Brazil) Brazilian foreign exchange brand acquired by Travelex, operating as part of the Brazil business providing currency exchange and related services.
• London Paddington Rail Bureau First UK rail station travel money bureau providing travel cash services to rail passengers at London Paddington.
• Canada Wholesale Banknote Operations Onshore wholesale banknote operations in Canada supplying Canadian and international currency to financial institutions across the country.

Quantifiable outcome

• 84% of Australian travellers still prefer to carry foreign currency when travelling overseas
• +5 more outcomes

Named customers14 records

Segments6 records

Ideal customer profiles6 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration4 records

Feature6 records

Partnerships

14 partnerships are on record, tiered core, strategic and minor.

• Sydney AirportcoreChannel Partner/ Reseller/ Distributor · 24 June 2026Foreign exchange and ATM services contract awarded following competitive process. Travelex will operate 10 stores at T1 International and 20+ ATMs dispensing Australian Dollars and foreign currencies. Significant expansion returning to Sydney Airport after 10-year absence.
• Paper Plus (New Zealand)strategicChannel Partner/ Reseller/ Distributor · 27 May 2026National partnership enabling participating Paper Plus stores (80+ locations) to offer trusted currency exchange services to communities across New Zealand. Selected currencies available over the counter and online for collection. Addresses financial inclusion in areas no longer serviced by banks.
• TSB New ZealandminorChannel Partner/ Reseller/ Distributor · 12 May 2026Referral partnership enabling TSB customers to access discounted travel money services. Partnership enables TSB to offer foreign exchange services to customers through Travelex.
• MukurucoreStrategic or Co-development Partner · 8 January 2026Partnership expanding cash payout options for Mukuru remittance customers across South Africa. Travelex's 46 branches integrated into Mukuru's national payout network, providing customers increased access to cash collection at high-traffic locations.
• Global BluecoreStrategic or Co-development Partner · 29 September 2025Partnership extension making Travelex sole tax refund operator at Hamburg Airport. Continued partnership with tourist shopping tax refund specialist for enhanced passenger services.
• Frankfurt AirportcoreChannel Partner/ Reseller/ Distributor · 1 January 202531-year partnership extension with 14 stores and 30 ATMs now operating. Three new stores opened at Terminal 1B, 1A and 1A/Z. Travelex provides retail travel money, wholesale operations for airport retailers, and tax refund services.
• NCR AtleosstrategicTechnology or Integration · 1 November 2024Complete ATM technology refresh partnership. NCR Atleos providing latest self-service currency exchange technology across Travelex's ATM estate, featuring new ATMs at locations including LeShuttle Folkestone and Berlin Brandenburg Airport.
• UberminorGTM or Marketing Partner · 1 July 2024Partnership to offer discounted rides and travel money cards across Australia and New Zealand. Joint marketing initiative providing value-added benefits to customers of both brands.
• Perth AirportcoreChannel Partner/ Reseller/ Distributor · 1 July 202430-year partnership extended for 7 years until at least 2031. Agreement includes development of four new sites, refurbishment of existing concessions, and complete ATM replacement with latest technology.
• Singapore Changi AirportcoreChannel Partner/ Reseller/ Distributor · 1 July 2024Tender win doubling Changi footprint. Launch of Same Rate Guarantee ensuring customers get same rates when returning unused travel money. Major expansion of presence at one of Asia's busiest airports.
• Munich AirportcoreChannel Partner/ Reseller/ Distributor · 1 March 2024Won airport tender for Non-Schengen terminal, achieving 90% coverage of airport volumes in Germany. Partnership extended to new Terminal 1E/extension where Travelex becomes first and only foreign exchange and tax refund brand.
• National Bank of CambodiastrategicStrategic or Co-development Partner · 16 October 2023Partnership to start trading Cambodia's national currency, Khmer Riel (KHR), at Singapore's Changi Airport. Enables customers to purchase KHR at the airport location.
• Bank of New Zealand (BNZ)coreChannel Partner/ Reseller/ Distributor · 1 June 2023FX partnership providing foreign exchange services to Bank of New Zealand customers. Travelex enables BNZ to offer currency exchange services through its network.
• NiumcoreTechnology or Integration · 8 April 2021Partnership with advanced global payments platform Nium to extend digital remittance services. Service launched in Australia and Singapore, enabling Travelex users to remit money to 50+ markets instantly. Leverages Nium's Remittance-as-a-Service (RaaS) solution, global payment rails and real-time payment capabilities. Expanded to Hong Kong (June 2021) and Japan (September 2022).

Scale indicators15 records

Recent moves8 records

Expansion highlights8 records

Emerging players

• Wise: Digital-first cross-border payments and multi-currency account platform serving individual travellers and SMEs with near-mid-market FX rates. Directly comparable to Travelex Money Card and remittance services but operates without physical retail infrastructure.
• Revolut: Multi-currency digital wallet and card offering competitive FX rates to travellers. Comparable to Travelex Money Card proposition and increasingly competes for the same walk-up customer base seeking foreign currency before travel.
• Remitly: Digital remittance platform focused on cross-border money transfers from developed markets to emerging markets. Comparable to Travelex's Nium-powered digital remittance service in Asia Pacific and Middle East retail operations.

Broad incumbents

• Western Union: Global money transfer and FX services company with extensive agent network. Comparable to Travelex's remittance and wholesale banknote operations but with broader consumer money transfer focus and significantly larger global footprint.
• Euronet Worldwide: Global payments processor and ATM operator with significant travel money and FX operations through its Epay and Money Express segments. Comparable to Travelex's ATM network and wholesale banknote distribution business.
• MoneyGram: Global cross-border P2P payments and remittance company with extensive agent network. Comparable to Travelex's remittance and FX operations, particularly in Middle East and emerging markets where Travelex has physical presence.

Direct peers

• ICE Currency Exchange: UK-listed travel money specialist operating bureaux de change in airports and tourist locations across UK, Europe, and other regions. Closest direct competitor to Travelex's airport and high-street retail currency exchange business.
• No1 Currency: UK-based travel money and currency exchange specialist with airport and high-street presence. Direct competitor to Travelex's UK retail currency exchange operations, particularly in airport and tourist locations.
• Equals Money: UK-listed multi-currency card and FX platform serving both consumer and corporate customers. Directly comparable to Travelex Money Card and Travelex Bank Brazil FX services for business travellers and SMEs.
• OFX: Global online FX and international payments provider serving individuals and businesses. Comparable to Travelex's wholesale banknote and B2B FX operations, particularly for cross-border payments and currency hedging.

Market position

Strengths1 record

Weaknesses5 records

Competitive moat6 records

Key risks3 records

Key highlights6 records

Customer concentration

• Xx.com/travelexuk
• YouTubeyoutube.com/channel/UCexample
• Facebookfacebook.com/travelexuk
• LinkedInlinkedin.com/company/travelex
• Instagraminstagram.com/travelex

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 records

Subsidiaries19 records

Funding overview

Funding rounds1 record

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A2 records

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Travelex