Travelex is a currency exchange service that lets you buy and sell foreign currency

Travelex is a private currency exchange company that sells foreign cash and traveler's checks to people preparing for trips abroad. You can order currency through their website, pick it up at one of their physical locations, or have it delivered to your home. They also buy back unused foreign currency when you return, though usually at a less favorable rate than you paid.

Travelex operates in the United States through retail locations in major airports, some shopping centers, and select bank branches. They are not a bank themselves — they are a standalone exchange service. This means the rates they offer, the fees they charge, and the hours they keep are separate from your regular banking relationship.

The main reason people use Travelex instead of their bank is convenience: airport locations stay open late, and you can walk out with cash the same day. The trade-off is that Travelex rates are typically less favorable than what you would get from a bank or online currency exchange service.

Key Takeaways

  • Travelex sells foreign currency in cash and traveler's checks through airport locations, retail shops, and online ordering with home delivery.
  • You can order currency online days or weeks before your trip, or buy it same-day at an airport location if you are leaving soon.
  • Travelex rates are usually higher (meaning you get less foreign currency per dollar) than bank rates, and they charge a separate fee on top of the exchange rate.
  • You can sell unused foreign currency back to Travelex when you return, though the buyback rate is typically lower than the rate you paid.
  • Travelex traveler's checks are an older payment method that some travelers still use as a backup to cards, though they are less common now.

How to order currency from Travelex online

Visit Travelex.com and enter the currency you need, the amount, and your delivery method. You can choose to pick up at a Travelex location (usually within one business day at airport locations), have it mailed to your address (typically three to five business days), or use overnight delivery for an extra fee.

You will need to create an account, provide your name and address, and pay by credit card or debit card. Travelex will show you the exchange rate and any fees before you confirm the order. Once you complete payment, you will receive a confirmation email with your order number and pickup or delivery details.

If you pick up at an airport location, bring your confirmation email and a photo ID. If you choose delivery, the package arrives in a find envelope. Check the contents before signing to make sure the amount and currency are correct.

Buying currency at a Travelex airport location

Most major U.S. airports have at least one Travelex counter, usually in the terminal near the gates or in the baggage claim area. You can walk in without an order and buy currency on the spot, though the amount available may be limited if you need a large sum or an uncommon currency.

Tell the staff member which currency you need and how much. They will quote you the rate and any fees, show you the total in U.S. dollars, and ask for payment. Airport locations accept cash, credit cards, and debit cards. The transaction usually takes five to ten minutes.

Airport rates are typically the same as online rates, but airport locations charge a convenience fee on top of the exchange rate because you are buying same-day. If you have time before your trip, ordering online and picking up at a non-airport location (if available) may be slightly cheaper.

Understanding Travelex fees and exchange rates

Travelex makes money in two ways: the spread between the rate they pay for currency and the rate they charge you, and a separate transaction fee. The spread is built into the rate they quote — you will not see it as a line item. The transaction fee is usually shown separately and ranges depending on the currency and amount.

The rates Travelex offers are typically 2 to 5 percent worse than the mid-market rate (the rate banks use to trade with each other). This means if the mid-market rate for euros is 1.10 dollars per euro, Travelex might quote you 1.05 dollars per euro. On top of that, they may charge a flat fee of $5 to $15 per transaction.

You can compare Travelex rates to other options before you order. Your bank, online currency services like OFX or Wise, and credit card companies all offer different rates. For large amounts, the difference can be significant — a $2,000 exchange might cost you $40 to $100 more at Travelex than at a bank.

Selling unused currency back to Travelex

When you return from your trip, you can sell leftover foreign currency back to Travelex at most locations. Bring the bills and coins in their original condition — damaged or heavily worn currency may not be accepted. You will need a photo ID.

The buyback rate is always lower than the rate you paid when you bought the currency. This is normal for any currency exchange service. Travelex may also charge a buyback fee. The staff will count your currency, quote you the rate and fee, and pay you in U.S. dollars by check or card deposit.

If you have only a small amount left over, the buyback fee might eat up most of the value. Many travelers find it is not worth selling back coins or small bills. Some people keep foreign currency as a souvenir or donate it to charity instead.

Travelex traveler's checks and other payment options

Travelex sells traveler's checks, which are prepaid checks in foreign currency that you can cash at banks and exchange offices abroad. They are signed by you when you buy them and signed again when you cash them, which was meant to prevent theft. Traveler's checks are much less common now because credit cards and debit cards are accepted almost everywhere.

If you do use traveler's checks, you will pay a fee when you buy them (usually 1 to 2 percent of the amount) and may pay another fee when you cash them abroad. You also need to keep a record of the check numbers in case they are lost or stolen. Most travelers now carry a credit card and a backup debit card instead, which are faster and cheaper.

Travelex also offers a travel card — a prepaid card you load with foreign currency before your trip. This gives you the security of a card without the foreign transaction fees your bank might charge. The rates and fees are similar to buying cash, so compare this option to your bank's travel card or credit card foreign transaction fees.

Comparing Travelex to other ways to get foreign currency

Your bank is often the cheapest option if you order currency a few days in advance. Banks typically offer rates closer to the mid-market rate and charge lower fees than Travelex. Call your bank's foreign exchange department and ask for a quote before you order from Travelex.

Online currency services like Wise, OFX, and XE offer rates that are usually better than Travelex and sometimes better than banks. These services deliver currency by mail or deposit it into a foreign bank account. The downside is they take longer — usually three to seven business days — so you need to plan ahead.

Your credit card or debit card is often the cheapest way to pay abroad because you avoid the markup that comes with buying physical currency. Many cards charge no foreign transaction fee, or a small one (1 to 3 percent). You can withdraw cash from ATMs abroad at the bank's rate plus a small ATM fee. If you are comfortable using cards and ATMs, this is usually cheaper than Travelex.

Frequently Asked Questions

Can I order currency on the day I leave for my trip?

Yes, if you order before the cutoff time (usually early afternoon) and pick up at an airport location the same day. If you order online for home delivery, it will not arrive in time. Ordering a few days early gives you more options and time to double-check the amount.

What happens if I receive the wrong amount or currency?

Contact Travelex when ready with your order number and the issue. If you picked up in person, return to the location with your receipt and ID. If it was delivered, call the customer service number on your confirmation email. Travelex will correct the order, though this may take a few days.

Do I need to tell my bank I am using Travelex?

No, you do not need to notify your bank. You are paying Travelex with your own card, just like any other purchase. Your bank may flag the transaction as unusual if it is a large amount, but this is rare and does not prevent the payment.

Is it better to buy currency before I leave or withdraw cash from an ATM abroad?

For most trips, an ATM abroad is cheaper because you get the bank's rate plus a small ATM fee, which is usually less than Travelex's markup and fees. Buy a small amount of currency from Travelex before you leave (enough for a taxi or meal) so you have cash when you land, then use ATMs for the rest.

Can I return currency I bought from Travelex if I cancel my trip?

Yes, you can return unused currency for a refund, but Travelex will deduct a restocking fee and may explore an unfavorable exchange rate. The refund will be less than what you paid. Check the return policy on your order confirmation or call customer service before you buy.