Cancellation service N°1 in Australia
Contract number:
To the attention of:
Cancellation Department – Travelex
Level 45 MLC Centre 25 Martin Place
2000 Sydney
Subject: Contract Cancellation – Certified Email Notification
Dear Sir or Madam,
I hereby notify you of my decision to terminate contract number relating to the Travelex service. This notification constitutes a firm, clear and unequivocal intention to cancel the contract, effective at the earliest possible date or in accordance with the applicable contractual notice period.
I kindly request that you take all necessary measures to:
– cease all billing from the effective date of cancellation;
– confirm in writing the proper receipt of this request;
– and, where applicable, send me the final statement or balance confirmation.
This cancellation is sent to you by certified email. The sending, timestamping and integrity of the content are established, making it equivalent proof meeting the requirements of electronic evidence. You therefore have all the necessary elements to process this cancellation properly, in accordance with the applicable principles regarding written notification and contractual freedom.
In accordance with the Consumer Rights Act 2015 and data protection regulations, I also request that you:
– delete all my personal data not necessary for your legal or accounting obligations;
– close any associated personal account;
– and confirm to me the effective deletion of data in accordance with applicable rights regarding privacy protection.
I retain a complete copy of this notification as well as proof of sending.
Yours sincerely,
16/01/2026
How to Cancel Travelex: Complete Guide
What is Travelex
Travelex operates a prepaid multi-currency travel money card and related foreign currency services. The Travelex Money Card lets users hold and spend multiple currencies on a single Mastercard-branded prepaid card, top up funds, and perform ATM/EFTPOS transactions in supported currencies. From a financial perspective, the product is positioned as a travel cash-management tool designed to reduce exposure to variable exchange rates while abroad.
Service specifics for the Travelex Money Card include load and reload rules, inactivity and closure fees, and currency conversion mechanics that affect cost of use. These are spelled out in the product documentation and terms and conditions published by the issuer. Practical fees commonly cited for the Australian market include a monthly inactivity charge of A$4.00 and a closure/withdrawal fee of A$10.00; loading AUD in-store often attracts a fee of the greater of A$15 or 1.1% of the load.
Customer sentiment is mixed: many reviewers praise ordering and pick-up convenience, while a notable subset report friction during account closure, cashing out and dispute resolution. These operational friction points are relevant to cost-benefit analysis when deciding whether to keep or exit the product.
Customer experiences with cancellation
What users report
Users who leave positive feedback often highlight straightforward ordering and reasonable in-branch service. These accounts typically reference quick access to cash and predictable exchange handling at time of purchase.
Negative feedback tends to cluster around three themes: difficulty accessing refunds or cashing out remotely, disputes over inactivity fees and unexpected card blocks or transaction declines that complicate closure. Several reviewers describe needing extra steps to retrieve remaining balances or having fees applied despite attempted resolution.
Recurring issues and practical takeaways
From a financial-advice viewpoint, the consistent reports indicate the main cost risks are recurring inactivity fees and closure or cash-out fees that erode small balances. If a balance is modest, the A$4 monthly inactivity charge can become material over time, so monitoring or planned withdrawal is important.
Users advise keeping clear records of transaction histories, exchange rates at time of load, and timestamps of account activity. These records strengthen a consumer position if a fee is disputed or if rates applied at conversion are questioned. Paraphrasing a common user tip: preserve receipts and take screenshots of balances and rate confirmations when loading or moving funds.
How cancellations typically work for Travelex
Travelex terms specify limits on reversals: paid online foreign currency orders are generally not reversible and delivery orders cannot be cancelled once requested. Reload transactions that have completed are likewise non-cancellable. These constraints materially affect refund prospects depending on timing and product type.
In terms of billing cycles and fee timing, inactivity fees are applied monthly after 12 months of no transactions. Closure or cash-out fees are applied at the point of balance withdrawal or card closure. There is no interest paid on card balances, so holding funds long-term has an opportunity cost versus keeping AUD in interest-bearing accounts.
Cooling-off entitlements depend on the product and the moment of contractual acceptance. For online foreign currency purchases the terms explicitly limit cancellations after payment. For currency stored on a prepaid card the issuer may permit closure and withdrawal subject to a closure fee; the precise refundable amount will depend on the fund currency and applicable conversion rates.
Financial implications of cancelling Travelex
From a financial perspective, cancellation can generate direct costs (closure/withdrawal fee A$10.00, currency conversion costs) and indirect costs (exchange rate slippage when converting a foreign currency back to AUD, or losing unused balance to inactivity fees). These outcomes should be quantified before deciding to exit.
Consider a simple example: holding EUR50 on the card and closing triggers a A$10 closure fee plus the conversion spread. If the converted AUD value is small, the fee can consume a large share of remaining funds. In terms of value, converting or spending small balances before closure often reduces aggregate cost.
Documentation checklist
- Account statement: transaction list showing top-ups, spends and current balance.
- Date-stamped proof of last activity: receipts, ATM slips or purchase confirmations.
- Rate confirmations: screenshots or receipts showing exchange rates applied at load or conversion.
- Identity documents: government ID used when the card was opened (if required for dispute resolution).
- Product terms snapshot: a saved copy of the relevant terms and conditions or product disclosure statement showing fees and cancellation clauses.
Fees and pricing table
| Fee type | Typical cost (A$) |
|---|---|
| Monthly inactivity fee | A$4.00 per month |
| Closure / withdrawal fee | A$10.00 |
| Load fee (AUD instore) | Greater of A$15 or 1.1% of load |
| BPAY reload fee (non-booked) | 1% of reload amount |
| International ATM withdrawal (card issuer fee) | Free (ATM operator fees may apply) |
Table data reflects published product disclosures and fee tables. These items frequently determine the effective cost of cancelling or closing a card.
Alternatives and comparison
When analysing opportunity cost, compare the Travelex proposition against other travel money products and multi-currency services. Key comparison criteria are load fees, inactivity fees, closure fees and FX conversion margins.
| Provider | Notable fee/features |
|---|---|
| Travelex Money Card | Inactivity A$4/month, closure A$10, AUD instore load fee A$15 or 1.1%. |
| Wise multi-currency | Low conversion margin, transparent FX, bank transfer top-ups, varies by currency (compare before moving funds). |
| Australia Post travel card | Multiple currency support, varying load and ATM fees; compare BPAY and in-store terms. |
Alternatives may offer lower FX spreads or lower fixed fees for small balances; from a cost-optimisation viewpoint, choose the product whose fee schedule aligns with your typical usage profile (frequency of travel, typical balance sizes, and cash withdrawal habits).
Common pitfalls and mistakes to avoid
- Failing to quantify conversion cost: not estimating the conversion spread and applied retail rate when cashing out can understate the real cost.
- Ignoring inactivity fee timelines: a year without transactions triggers the A$4 monthly charge which can erode small balances.
- Leaving small balances idle: small balances are disproportionately affected by fixed closure fees and inactivity charges.
- Missing documentation: lack of receipts and timestamps reduces leverage when disputing fees or rates.
How disputes, chargebacks and refunds work for Travelex
Dispute resolution for card transactions is governed by the product terms and by the card network’s procedures. If a transaction is in dispute the timing and outcome depend on whether the card issuer or Mastercard Prepaid handles the issue. Maintain documentation to support any claim about incorrect fees or unauthorised transactions.
Refund eligibility varies by transaction type: online foreign currency purchases that have been paid are generally non-refundable under the published terms. Refunds of card balances after closure are subject to closure fees and conversion rates. These rules mean that the refundable amount can be materially lower than the face value held on the card when a closure request is processed.
What to expect during the cancellation process
Expect a verification step where identity and entitlement to the card funds are confirmed. Expect applied fees to appear as debits against the card fund at or near the time of closure or withdrawal. Exchange rates used to convert currencies will generally reflect the then-current retail rate and may include a margin.
Processing times for refunds or withdrawals can vary with the type of transaction and whether currency conversion is required. From a cashflow perspective, allow time for conversion and settlement when planning to reallocate funds to other accounts.
Regulatory and consumer-rights notes relevant to Travelex
Travelex operates under Australian consumer and financial services frameworks; formal external dispute options such as external complaint bodies may be available if an internal resolution is not reached. Keep evidence of all correspondence and transaction history to support any formal complaint.
In particular, where the product is administered under a prepaid card program, the product disclosure documents and terms set the contractual baseline for refunds and cancellation rights. Always refer to the product disclosure for the precise contractual mechanisms that determine refund eligibility.
Practical recommendations before you decide to cancel
From a financial-advisory perspective, run a quick cost-benefit: total expected fees (closure fee, expected FX spread, potential inactivity charges) versus leaving funds on the card or spending the balance. If the net value of remaining funds is close to or lower than the closure fee, use or convert funds in a way that minimises conversion loss before initiating closure.
Reconcile account records and secure all evidence of recent activity. If a charge or block affected your ability to use funds, document dates and outcomes to improve chances of favourable dispute resolution.
Address
- Address: Level 45 MLC Centre 25 Martin Place Sydney NSW Australia 2000
What to Do After Cancelling Travelex
Immediately reconcile the final account statement against your documentation and note the exact final balance after fees and conversions. Record the date the account was closed and the final transaction IDs or reference numbers where available.
Consider reallocating any recovered AUD into an interest-bearing account or a lower-cost multi-currency provider depending on your future travel plans. From a budget optimisation view, compare the effective annualised cost of holding travel funds on a prepaid card versus holding AUD in a savings account and converting near travel dates.
If a dispute remains unresolved, escalate using the formal complaint escalation pathway referenced in the product terms and retain copies of all supporting documents. Keep an eye on future statements to ensure no residual or re-applied fees appear after closure.