Travel E X Currency Exchange

Travelex states that they will exchange purchased currency back with no fees, but in fact they do exchange the currency back at a lower rate when purchased, even on the same day at the same time They employ bait and switch names in order to charge you twice while claiming to not do so I understand that businesses exist to make money, but I expect business to be up front with their practices

Contact Email: ***@travelex.com
Dear Revdex.com,
The reason that the customer did not receive a full refund upon his second visit to the store was because he did not have his receiptIn order for the full features and benefits of the Cash Passport Card to apply (in this case, a full
refund/redemption of funds), a customer must return with his original receiptThese terms and conditions are provided at the point of sale, and appear on both the receipt and marketing materials provided with the card
Without a receipt, any transaction is treated as a regular currency exchange transactionwhich means that our regular retail exchange rate appliesThis retail exchange rate includes Travelex's "margin" or "markup," and accounts for the $difference between the $originally inserted on the card, and the $that was originally refunded to the customer
For example, if a hypothetical customer (1) purchased $in Euros, (2) travelled to Europe but didn't spend any of his Euros, and then (3) returned to Travelex after his trip to convert his Euros back to dollars, the daily exchange rate (for that particular day) would applyThe customer would not get back $US dollarsIt is treated as a separate transaction, because it is a separate transactionConverting dollars to Euros is one transaction, and converting Euros to dollars is anotherand there is a different exchange rate for each transactionThey are not equal and opposite
One of the benefits of using the Cash Passport Card is that the retail exchange rate (or "markup") described above does not apply on a customer's leftover currencyso long as the customer satisfies the terms and conditions of the card (i.e., the presentation of the original receipt at the time of refund/redemption)
In the case at hand, when the customer returned to the store on his third visit with his receipt, he satisfied the terms and conditions of the card, and was immediately provided a full refund
All of the customer's other assertions are speculative and/or immaterialThe determining factor was the receiptnothing more, and nothing less
For your convenience, the pertinent portions of the terms and conditions for the Cash Passport Card are provided belowThese terms and conditions are provided at the point of sale, and appear on both the receipt and marketing materials provided to the customer
"For redemption of the No Fee Leftover Currency Exchange Program ("LCE") this original receipt in good and legible condition is requiredLCE is valid for days from the original receipt's transaction date and is redeemable only onceLCE is valid solely for those foreign currencies (banknotes/prepaid cards/u1/coins C1/coins) listed on the original receiptLCE is redeemable only at US Travelex locations for a one-time waiver of $purchase fee, if applicableLCE does not apply to & is not redeemable for online purchases for foreign currencyThe Discounted Exchange Rate associated with the LCE shall mean that no Travelex retail markup, as determined by Travelex, shall apply at LCE redemption and shall not be the rate or currency value on original receipt."
Travelex regrets that this customer did not have a seamless experience redeeming his funds; however, had he returned with his receipt upon his second visit, much of his frustration would have been avoided
Thank you
Retail Marketing, Travelex Currency Services Inc