Foreign Currency/International Wire Service
Did you know that the average traveler spends $3,000 on an international trip - $550 of that in cash and travelers cheques? Even though using credit and debit cards is common practice worldwide, traveling often requires local currency to make certain purchases like paying cab fare or shopping through a local vendor.
Community First now offers members a web-based online ordering solution through Travelex called My Travel Wallet to help you purchase travel cash as you prepare for trips abroad. Through our partnership with Travelex, you can purchase foreign currency and have it shipped directly to your door. In addition, with Travelex’s My Travel Wallet, Community First offers a convenient way to transfer money to a foreign bank through an international wire service.
The foreign currency service is only available to members of Community First through our Online Banking. Foreign currency exchange is not available in branch locations. However, branches will be able to process international wires and cheques.
Below are a few frequently asked questions about our new foreign currency feature through Travelex.
Q.What is Travelex’s My Travel Wallet?
A.Travelex is a well-known foreign exchange company that supplies foreign currency for the members and customers of financial institutions and travel agencies through My Travel Wallet. Community First has partnered with this provider to increase convenience and services for our members.
Q.Is purchasing online secure?
A.Yes. We recognize that everyone who visits our site is concerned about the confidentiality and privacy of their information. We use sophisticated measures to protect your information. Security measures are constantly reviewed and are enhanced as new technology emerges. Currently, we use a combination of firewalls, Secure Sockets Layer (SSL), and other security techniques to make sure that your transactions are secure.
Q.Why are rates quoted on Travelex’s My Travel Wallet site different than those in the newspapers?
A.Rates quoted in newspapers are not indicative of rates that the average customer can secure. These rates are usually 'spot rates' available on amounts of $1M or more transferred electronically between banks.
Q.What should I do if I have foreign currency that I want to sell?
A.When you return from your trip, use your Foreign Currency Return Form provided in your currency order package that you receive from Travelex. Fill out the form, and return the form and unused currency to Travelex using their return envelope.
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