Travelex Financial Services NZ Limited Price Promise Terms and Conditions
Every day we check exchange rates of major banks and retailers and adjust our rates accordingly to ensure that we give you a highly competitive overall price on your foreign currency. If you find a better price than the in-store price offered by an off-airport Travelex store, buy from or sell to us and we will refund the difference between the total transaction price and the more competitive price subject to the Terms and Conditions below. The Travelex Price Promise will be available at participating stores only and may be subject to promotional time periods as specified from time to time.
1. Travelex’s Price Promise applies to Travelex Financial Services NZ Limited No. 115663 (“Travelex”) customers buying or selling foreign currency (FX) cash in-store (excluding Travelex and competitor airport stores) within New in accordance with these Terms and Conditions.
2. When purchasing foreign currency from us, where a competitors quote rate results in a “total transaction cost” that is cheaper than Travelex’s total wholesale sourcing cost of the FX cash being transacted on by the customer and Travelex is unable to beat the competitor’s valid FX quote, Travelex will only refund the difference between the price paid by the customer in completing the FX cash purchasing transaction and Travelex’s wholesale sourcing cost of the FX cash for that transaction.
3. The refund amount for both buy and sell transactions will have a maximum value of NZD $100.This applies to in-store FX cash transactions only.
4. Travelex’s Price Promise is not available:
a) in conjunction with any other Travelex offer or Travelex services/products; or
b) on Multi-currency Cash Passports or the Travelex Money Card;
c) when a competitor’s FX quote is made using third party FX derivative/trading products online, in person or via a broker.
5. Travelex’s Price Promise only applies to and based on bona-fide, final “total transaction cost” quotes for FX cash transactions offered by a competitor who offers a verifiably more competitive in-store quote than Travelex’s off-airport stores in the ordinary course of the business of offering the sale or purchase of FX cash to individual customers in New Zealand.
6. The competitor must:
a) be an New Zealand registered business that is an FX cash retailer or a “Bureau De Change” operator (trading from a physical store location); and
b) offer a verifiably more competitive in-store quote than Travelex’s off-airport stores in the ordinary course of the business of offering the sale or purchase of FX cash to individual customers in New Zealand.
7. The FX quotes compared must be genuine “like-for-like” FX sell or buy rate prices being offered to the general public. In order to ensure fair and real time comparison of the FX buy/sell rates, the competitor’s FX buy or sell rate must:
a) at minimum, be shown in a clear and discernible photograph of a competitor’s rate board; and
b) show the verifiable time and date of the competitor’s FX buy or sell rate/quote; and
c) be an official quote or a published FX buy or sell rate which is available to the general public; and
d) be from a comparative competitor (as defined in condition 5 above).
8. In calculating any refund to you for an FX cash transaction, Travelex will compare the “total transaction cost” FX quote from a competitor which may include each of the following:
a) the amount of foreign currency that the customer required for purchase;
b) collection fee (if any);
c) administration fee (if any); and
d) any/all other fees payable to complete the intended FX purchasing transaction.
9. The FX quotes must not be Mid-Market Rates. For the purpose of these Terms and Conditions a Mid-Market Rate means a mid-market or indicative rate shown on an FX competitor’s website which are neither actual "buy" rates nor actual "sell" rates offered by that competitor but are derived from the mid-point between the buy and sell rates of large-value transactions in the global currency markets).
10. Travelex will not accept screenshots of competitors’ prices or quotes which are quoted on third party FX quote comparison websites. Travelex must be able to verify and validate, to Travelex’s reasonable satisfaction, the alternative competitor FX quote that a customer has been offered. Travelex reserves the right to verify the competitor’s FX quote electronically, in person or via telephone with a competitor. Travelex retains the discretion to not process a refund unless the verification the competitor’s FX quote is deemed satisfactory.
HOW TO MAKE A “PRICE MATCH” CLAIM (in-store transactions only)
1. The customer must provide the minimum required evidence (as specified in these terms and conditions) of a verifiable competitor FX quote to be eligible for the Price
Promise claim assessment.
2. If a quote is below the price at which Travelex buys its wholesale currency for and Travelex cannot beat the price on the spot – Travelex will offer the customer the price at which Travelex purchased the wholesale currency in relation to the FX transaction and direct the customer online to Travelex Price Promise where they may claim the difference as a refund (up to a maximum value of NZD $100 which will be deposited into a bank account of the customer’s choice).
HOW TO MAKE A CLAIM FOR A “REFUND” (in-store transactions only)
1. Travelex will offer a refund of the difference between Travelex FX quote and a competitor’s FX quote or published FX rate that a customer presents to Travelex (provided that the competitor’s FX quote or published FX rate matches the date of the customer’s initial Travelex transaction) up to a maximum of NZD $100. The comparative FX rate is based on the final total transaction cost including but not limited to fees, charges, commissions or levies charged on that FX transaction.
2. A customer has 7 calendar days to lodge a refund claim online using the Travelex Price Promise claims email form.
3. The customer must complete all of the required fields set out on the web page in order to be eligible to be considered for a refund (which will be credited into a bank account of their choice). Customers must enter their relevant Transaction ID found on their Travelex receipt.
4. Travelex reserves the right to request further information from a customer in order to assist with processing a Price Promise claim. The customer must respond to such a request for further information within 3 calendar days of that request, otherwise Travelex will not be obliged to process their claim.
7. These Price Promise Terms and Conditions were created in June 2016 and updated in October 2019 by Travelex Financial Services NZ Limited Co. No. 115663, a New Zealand corporation with its registered office at Level 14, Augusta House, 19 Victoria Street, Auckland, 1010, New Zealand.