With the introduction of the euro in 2008, cross-border swift payments will still need to be effected, despite the fact that there is no currency exchange margin. What businesses fail to understand is that these transactions are still going to incur charges. With Travelex’s expertise and focus being solely on foreign exchange and risk solutions, Travelex has designed a simple and cost-effective system for companies to reduce their transfer costs, saving them time and money. This is secured by transparency with regard to charges, and supported by funds being protected with the reliable service provided.

So far, 12 of the 25 EU countries are part of the euro zone (single currency, market economy). Each of these countries has gone through processes of dual circulation, dual display of prices and E-day (the day the actual notes and coins are converted into euros).

Although Travelex is present in many of the 12 countries, there has still been a great demand for international payment solutions: whether they were outside the euro zone or not. The experience Travelex has, due to its international presence, has enabled it to identify the need for the cross-border euro payments to grow.