Foreign currency cards to be sold by ICBA banks

A new agreement was reached between Travelex and long-time ally the Independent Community Bankers of America (ICBA). The agreement will allow ICBA member banks to sell recently-launched Cash Passport currency cards and Travelex CashPax. The companies expect the rapid adoption of these foreign currency products for leisure and business travelers across the country.

Cash Passport is a prepaid foreign currency card supporting Euros and British Pounds. Customers can use Cash Passport cards to withdraw money from ATMs or purchase goods and services at any merchants accepting MasterCard®. The exchange rate is locked in at the time the card is purchased.

CashPax represents a wallet-sized pack of foreign currency. With the CashPax pack customers won’t need to make any calculations required for foreign currency transactions. Using this pack travelers will always have enough foreign currency to pay for taxis and other immediate cash transactions. Thus CashPax include small denominations of paper money as well as coins in bundles of $100 or $250. The currency available with CashPax includes Canadian Dollars, Euros, Australian Dollars, British Pounds, Japanese Yen, Swiss Francs, and Mexican Pesos.

In case the card is lost or stolen customers can be sure that the balance is protected while the card can be replaced in as little as 20 minutes in most locations around the world.