US Internet-only bank NetBank has entered an agreement with Thomas Cook Currency Services, a division of the Travelex Group, to sell foreign currency, travellers cheques and Visa TravelMoney over its Web site.
The bank has introduced a link on its homepage to a co-branded site, powered by Travelex's My Travel Wallet application, where NetBank customers and the general public can order the foreign currency products. The bank has branded the new service NetBank Travel Cash.
Michael Fitzgerald, NetBank president, says: "Over the past year, we have introduced a number of new services, including account aggregation and insurance products, to further establish NetBank as a financial services destination site for consumers. Our new currency service continues this effort."
Consumers may order foreign currency or travellers cheques in a specific currency and receive them overnight or by two-day delivery. There is a $200 minimum and $1500 maximum per order and no service fee assessed. Orders over $500 are sent via two-day delivery at no cost.
Currently, there are more than 75 different currencies and seven foreign currency travellers cheques available for purchase. Orders can be paid for using a Visa or MasterCard credit or debit card, including NetBank's Visa Cheque Card.