Travel sector staff offered ‘at cost’ foreign exchange service by Spendology

Travel sector staff offered ‘at cost’ foreign exchange service by Spendology

Currency specialist launches trade promotion to support firms’ recover from the COVID pandemic

Overseas currency specialist Spendology is launching a service enabling staff working in the UK travel industry to order foreign currency at cost.

From May 27, travel industry staff travelling overseas on business can order foreign currency at cost with the Spendology Trade initiative.

Companies should first register for Spendology Trade and then employees sign up individually to access the service and order travel cash.

Karen Gee, Spendology marketing and business development director, said: “Covid has had such an impact on the travel industry that we really wanted to do our bit, helping fellow travel businesses get back on their feet by saving money on foreign currency needs for staff travel.

“The money saved on each order compared to buying from the Post Office, supermarket or bank may be a small amount, but every saving is especially important this year and it all adds up.”

She said the importance of foreign currency was underlined by a recent Mintel report which revealed that 90% of Brits have travel cash with them when they travel.

Gee added: “This latest report from Mintel confirms that most Brits prefer to have some currency with them when they travel, and that cash is still king.

“It continues to be significantly the most important source of payment because it’s completely reliable, always accepted and isn’t subject to hidden charges and fees in the way that other payment sources can be.”

Under the Spendology Trade scheme, employee can each have up to £2,500 per order with up to five different currencies at a time, and £10,000 per year.

Gee added: “In addition to offering the trade the ability to order travel cash with no mark-up or margin, we have also set up Spendology Trade to showcase the service we offer.

“We hope that professionals in the industry will be so wowed by the service and overall experience that they’ll be only too happy to recommend us to deliver their customers travel cash too.”

Spendology’s white-label travel cash service provides each travel company partner with a website and mobile app featuring their logo and branding, and automated digital marketing tools to help build travel cash offers into existing sales channels.