Credit unions can offer their members more foreign currency options through two new products that are now included in the CUNA Strategic Services, Travelex alliance agreement. Travelex Cash Passport(TM) prepaid currency cards, with no purchase fees for credit unions, and CashPax(TM) were added to the suite of travel money solutions.
The new Cash Passport cards are the only prepaid foreign currency cards available in the US that can be used to lock in an exchange rate for Euros or British Pounds. These secure and convenient currency cards can be used to purchase goods and services in any retailer that accepts MasterCard(R) or to withdraw local currency from ATMs abroad.
Cash Passport comes with global emergency assistance, which offers members assistance 24-hours-a-day for lost wallets or passports, medical assistance, legal problems, and translation assistance. If the card is lost or stolen, the balance is protected and can be replaced in as little as 20 minutes in most locations around the world.
