For the education sector

Travelex GBP Australia Pty Ltd is proud to be the Major Sponsor for the HES 2010 National University Finance and Procurement Conference. The Conference provides a unique opportunity for the business sector to join with university delegates in an exploration of changing trends in financial management and strategic procurement in higher education.

Click here to view the HES Conference Website

Throughout our long history of working with Universities and Higher Education Services, we have gained a greater understanding of the challenges faced by these institutions. We have found the major FX challenges faced by universities today are

  • Complexity in business and IT processes in making foreign payments
  • Managing operational margins against high currency volatility
  • Receiving and reconciling student fees is time-consuming and costly
  • Issues and errors with foreign payments

Simplifying the payment process – outgoing payments

Travelex GBP Australia Pty Ltd processes hundreds of international payments for Australian universities and higher education institutions each week. Our online systems allow customers to gain process and cost efficiencies in how they make payments and manage their FX risk.

Our payment processing platform communicates with your finance system, removing the need to manually double input payment information and saving you time and money processing and reconciling your payments. Our flexible platform supports most major accounting software packages, including PeopleSoft, Finance One and Oracle.

All payments can be managed, reviewed and approved online. You can implement approval loops that mirror your internal approval processes to ensure payments are only finalised by an authorised person. Online reporting lets you can create a range of payment reports to suit your exact needs. In addition, you will receive payment confirmation by email and we will automatically notify your beneficiary of that payment.

Click here to view GlobalPay

Managing incoming payments from international students

Our web-based application allows students to pay either by wire transfer or by credit card. Whatsmore, students are able (where possible) to make payment in their local currency; giving students greater certainty of price for credit card payments and avoiding expensive payment charges for wire transactions.

We receive the funds from the student, forward the payment to the customer and provide the customer with reports to identify who and how much has been paid. These reports can be configured to import automatically into a student management system.

Currency Select merchant services offering

Travelex GBP Australia Pty Ltd offers a compelling merchant services proposal for the Australian market.
The complete Currency Select service gives merchants the following opportunities

  • Reduce merchant service fees by earning a portion of the foreign exchange revenue via a monthly rebate
  • Provide International students exchange rate certainty by locking in their exchange rate at the point of payment
  • Up to 50 currencies to choose from
  • The card holder is aware of exactly how much they will be charged in their home currency at the point of payment, offering transparency, piece of mind and eliminating any surprises due to exchange rate risk.

For further information about our products and solutions contact enquiry@travelex.com.au