GWK Travelex N V

What GWK Travelex N V does

GWK Travelex N.V. is the Dutch operating subsidiary of Travelex, the global foreign exchange specialist, providing currency exchange and cash services across the Netherlands. Founded in 1927 as De Grenswisselkantoren (GWK, literally "Border Exchange Office") at the Zevenaar train station near the German border, the company was acquired by Travelex in 2004 after successive ownership by Nederlandse Spoorwegen, MeesPierson, and Fortis. Its core retail offering centers on online currency ordering for 45+ currencies with 0% commission, click-and-collect pickup at 40+ locations across Dutch NS railway stations, Schiphol Airport, Rotterdam The Hague Airport, and Eindhoven Airport, supplemented by home delivery through partner CargoShield with Persona identity verification and ABN AMRO Tikkie payment processing.

The company operates a dual B2C/B2B model. On the consumer side, it sells the Travelex Money Card (a prepaid Mastercard supporting up to 22 currencies, with app-based management and Apple Wallet integration), the Valuta Terugkoopgarantie buyback guarantee, German environmental stickers, and eSIMs. On the business side, it provides dedicated cash management services including euro and foreign currency delivery, sealbag-based cash deposit processing, a specialized Cash-to-Master delivery service for maritime clients, and a dedicated currency ordering channel for Rabobank business banking customers. Revenue is generated through foreign exchange spreads, ATM transaction fees, transaction-based home delivery charges, sealbag administrative fees (EUR 50 without prior portal registration), and multi-year enterprise contracts for B2B services.

The technology stack is a lean composition of third-party SaaS rather than proprietary IP: online ordering via Jotform, payment processing through Tikkie Zakelijk (ABN AMRO) and EMS Dynamic Currency Conversion, identity verification through Persona, and physical fulfillment through CargoShield. The company is ISO 27001 and PCI DSS certified and holds registered trademarks including Travelex, GWK, The Worldwide Money Logo, and Travelex Money Card. The Dutch entity sits within Travelex's broader global network of approximately 600 stores and 600 ATMs across 20 countries serving 37 million customers annually.

Name

GWK Travelex N V

Legal name

Travelex N.V.

Website

https://gwktravelex.nl

Company type

Private

Founded year

1927

Operating status

Operating

Headcount range

1–10 employees

Short description

GWK Travelex N.V. is the Dutch subsidiary of global FX specialist Travelex, operating 40+ currency exchange locations at NS stations and Dutch airports plus an online ordering platform serving individual travelers and business cash management clients across the Netherlands.

Ownership category

akta.pro rank

Product category

Foreign Currency Exchange and Travel Cash 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 card
• Cash services
• Business currency ordering
• Maritime cash logistics

Headquarters

HQ city

Amsterdam

HQ country

Netherlands

HQ region

Europe

Offices6 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Currency Exchange Margin: Revenue generated from the spread between wholesale and retail exchange rates. The company offers 0% commission for online orders but maintains margin through exchange rate pricing.
2. ATM Transaction Fees: Fees charged for cash withdrawals at Travelex ATMs. Starting 2024, Dutch pin card holders pay a fee to cover rising operational costs including cash transport, security, euro ordering/processing, rent, and personnel costs.
3. Business Cash Services: Fees for euro and foreign currency delivery, cash deposit services (sealbag system), and Cash-to-Master delivery for maritime clients. Administrative fee of EUR 50 per sealbag deposit without prior portal registration.
4. Home Delivery: Fees for home delivery of foreign currency including packaging, transport, and insurance costs charged in addition to the currency price.
5. Valuta Terugkoopgarantie (Buyback Guarantee): Fee-based service allowing customers to buy back unused currency at daily exchange rate. Minimum transaction value EUR 30.

Pricing tiers

Go-to-market motion2 records

Distribution channels6 records

Marketing channels5 records

Core offering

GWK Travelex N.V. provides foreign currency exchange and cash services in the Netherlands — selling and buying foreign banknotes (over-the-counter and via online ordering with home delivery), issuing the Travelex Money Card prepaid multi-currency card for travelers, and operating ATMs, business currency ordering (via Rabobank), and cash pickup/deposit services including maritime cash logistics. It is positioned as the dominant Dutch retail travel-money and cash-services operator using the GWK and Travelex brands.

Product overview

GWK Travelex operates as a specialized foreign currency exchange and cash services provider, offering both retail and business services. The core offering centers on the online currency ordering platform combined with physical pickup at 50+ locations across the Netherlands (NS stations, Schiphol, Rotterdam, and Eindhoven airports). Key products include the Travelex Money Card (prepaid Mastercard with multi-currency support), the online currency ordering system (45+ currencies, no commission), home delivery service, and business services (currency delivery, deposit, Cash to Master for maritime). Additional services include the Currency Buyback Guarantee, German environmental stickers, and eSIMs for travel. The business division serves companies requiring regular cash currency services with dedicated account management.

Differentiator

Problem solved

Functional benefit

Products and services

• Travelex Money Card Prepaid multi-currency card issued by GWK Travelex for individual travelers and B2B customers, providing a single card that can hold and spend in multiple currencies, reducing need for local cash abroad.
• Online Currency Ordering Online portal letting consumers browse currencies and rates, place foreign-cash orders and have banknotes delivered to their home; offered at 0% commission.
• Euro and Foreign Currency Delivery Physical delivery of ordered foreign banknotes (and euro) to the customer's address, including insured shipping for retail and business customers.
• Euro and Foreign Currency Deposit Service that lets customers (consumers and businesses) hand over foreign or euro cash via the company's logistics network for deposit / settlement.
• Cash to Master Specialist maritime-sector service delivering cash (typically euro) to the master of a vessel on behalf of shipping-company clients.
• Rabobank Business Currency Ordering Business foreign-currency ordering channel delivered through the Rabobank business banking portal, powered by GWK Travelex, enabling SMB and mid-market clients to order foreign cash as part of their existing banking relationship.
• Home Delivery Service Door-to-door pickup and/or delivery service for foreign cash, euro cash and deposits, used by both retail and B2B customers.
• ATM Services
• German Environmental Sticker Retail sale of the official German environmental zone (Umweltplakette) sticker required by drivers entering German low-emission zones, sold via the GWK Travelex station-counter / online channels to travelers with vehicles.
• eSIM Service Digital eSIM product for international travelers, offering mobile data in destination countries, sold as a complementary travel-money product.
• Vietnamese Dong currency availability Availability of the Vietnamese Dong (VND) as a foreign currency that customers can purchase at GWK Travelex counters and online, supporting travelers visiting Vietnam.
• Romanian Lei currency availability Availability of the Romanian Leu (Lei) as a foreign currency that customers can purchase at GWK Travelex counters and online, supporting travelers visiting Romania.

Quantifiable outcome

• 37 million customers served annually worldwide
• +3 more outcomes

Named customers4 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration8 records

Feature3 records

Partnerships

Seven partnerships are on record, tiered core and minor.

• RabobankcoreStrategic or Co-development PartnerRabobank business customers have access to dedicated currency ordering services through GWK Travelex. This partnership enables Rabobank to offer value-added currency services to its business banking clients.
• TabarondeminorChannel Partner/ Reseller/ DistributorPartnership to extend GWK Travelex services to tobacco specialty stores. Initially 10 locations, allowing customers to pay bills and make cash deposits at neighborhood locations, addressing decline of post offices.
• NS, Eindhoven Airport, HermescoreStrategic or Co-development PartnerAirport Shuttle partnership providing transportation between Eindhoven station and Eindhoven Airport. GWK Travelex participates as service provider at these transportation hubs.
• Travelex Grupo Confidence (Brazil)coreStrategic or Co-development PartnerRelated entity providing local Travelex services in Brazil, enabling GWK Travelex to provide travel money advice and services for South American destinations.
• CargoShieldcoreChannel Partner/ Reseller/ DistributorHome delivery partner for currency delivery services. CargoShield handles the physical delivery of ordered foreign currency to customer home addresses, including identity verification requirements.
• PersonacoreTechnology or IntegrationIdentity verification software provider used for home delivery orders. Persona processes and stores identification documents for compliance with anti-money laundering regulations.
• ABN AMRO (Tikkie Zakelijk)coreTechnology or IntegrationPayment processing partner for home delivery orders. Tikkie Zakelijk provides the payment link interface for invoice settlement and refunds.

Scale indicators8 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• No1 Currency: UK travel money specialist offering home delivery, click-and-collect, and airport pickup of foreign currency — directly competitive with GWK Travelex across the same retail channels and product set.
• ICE (International Currency Exchange): Specialist travel money operator in airports and tourist destinations globally — directly comparable in customer segment (international travelers), channel mix (airport retail + online), and product set (multi-currency cash and prepaid cards).
• Eurochange: UK-based foreign exchange specialist operating bureau de change at airports, stations, and online — directly comparable to GWK Travelex's Dutch retail FX and online ordering model, with similar currency breadth and click-and-collect mechanics.
• Global Exchange: Spanish-headquartered foreign exchange operator serving travelers in airports and tourist locations across multiple countries — direct peer in the airport-centric FX retail model that GWK Travelex also relies on at Schiphol.

Broad incumbents

• MoneyGram: Global cross-border money transfer and FX provider with extensive retail agent network — broader incumbent offering related travel money services including foreign currency pickup in many markets.
• Euronet Worldwide: Ultimate parent of Travelex and a global payments and ATM operator with EFT and FX capabilities across many markets — broader incumbent offering overlapping currency services and ATM infrastructure at much greater scale.
• Travelex Group: GWK Travelex's parent and the world's largest specialized foreign exchange operator — broader incumbent that operates the wider network GWK Travelex rides on, with overlapping product set including prepaid travel cards and online FX.
• Western Union: Global cross-border payments and FX giant with retail pickup locations worldwide — broader incumbent offering currency exchange and money transfer services that overlap with the cross-border payment and FX space GWK Travelex addresses.

Emerging players

• Wise (formerly TransferWise): Digital cross-border payments platform offering multi-currency holding and spending at interbank rates — emerging threat targeting the same Dutch traveler customer with a fundamentally different (non-cash) delivery model.
• Revolut: Digital banking app offering interbank-rate currency spending and ATM withdrawals in 150+ currencies — emerging competitor for the Dutch consumer FX wallet use case, with strong brand adoption among younger travelers.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/gwk-travelex

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Funding overview

Funding rounds

Investors

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

M&A

Investments

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

Frequently asked questions about GWK Travelex N V