Travelex, the world's leading global business payments specialist, today announced the completion of the acquisition of Ruesch International, a premier provider of business-to-business payment solutions, for $440 million.

The acquisition is consistent with Travelex’s international growth strategy and the combined businesses will process payments of more than $37 billion to more than one million beneficiaries annually.

Frequently Asked Questions

Can you clarify the ownership structure, please?

As of September 6th, 2007, Travelex wholly owns Ruesch International and its group companies.

What is the business now called?

Travelex Commercial Foreign Exchange and Ruesch International will continue to conduct business under their current names until the end of the year. We anticipate the combined business will trade under a new name, incorporating the Travelex brand, beginning January 1st, 2008. Be assured, you and all of our clients will be notified of this in advance.

What does the completion of acquiring Ruesch International mean to me?

Completion means you can expect the best of both worlds. Right now, it’s business as usual for clients of both Travelex Commercial Foreign Exchange and Ruesch International. In the longer term, by combining the strengths of Travelex and Ruesch International, we will be able to meet the growing demands of our clients. Count on us to offer best in class customer service and the best global payment solutions in the world.

Does this mean that I will be dealing with somebody else now?

Our priority is to continue to provide you with the first class customer service you have come to expect from both organizations. For the time being, it will be business as usual as you continue to work with your same Travelex contact, through the same channels, and in the same way.

What impact will the integration process have on clients?

Our number one priority is to minimize the impact of the integration on our clients, and to improve the service and business payment solutions we can offer you.

We have been working behind the scenes on the integration process since April 2007. Our hard work and preparation have allowed us to hit the ground running. All of our customer facing teams will continue to work in parallel until the end of 2007. Then, beginning January 1st, 2008, we intend to move to a fully integrated customer facing team.

Improvements to our payment technology infrastructure will continue. Over time, we will transition to a single processing platform for all of our clients. Please be assured, Travelex is working hard to ensure this change positively impacts our clients and, of course, we will continue to communicate any further details.

Will clients need to sign new Terms and Conditions?

There will be no immediate changes to the Terms and Conditions on which Travelex currently trades with its customers as a result of this acquisition. However, it is likely that there will be some changes to these Terms and Conditions in the future in order to ensure that both Travelex and Ruesch International trade with their customers on similar terms and conditions. As in the past, you will be contacted in advance of any changes to Travelex’s Terms and Conditions.

Will any new payments systems be introduced?

We want our combined business to offer the very best payment solutions to all of our clients. To this end, we are currently reviewing our payment systems carefully. Look to your relationship manager to keep you apprised of any proposed changes.

Will prices or rates change?

Our pricing practices have not changed. Our focus remains to be competitive and deliver value to our clients.

Are there any new products or services that you will now offer?

We will continue to offer proactive, end-to-end personal service that spans a wide ranging, innovative portfolio. Everything we do is tailored to meet the needs of our diverse client base.