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Press ReleaseU.S. Bank Signs Three Year Deal With Travelex for Foreign Currency BusinessMINNEAPOLIS, Oct. 16, 2003 -- U.S. Bank signed a three-year contract with Travelex for the fulfillment of foreign currency and drafts by U.S. Bank customers and employees. U.S. Bank will utilize Travelex's online ordering application, "Currency OnLine", for the ordering of foreign currency and foreign bank drafts. U.S. Bank will also offer its customers Travelex's customer-facing online program, "My Travel Wallet", through its existing website, for the fulfillment of foreign currency, prepaid (stored value) cards and Latitude, a travel-assist program. U.S. Bank is one of largest sellers of International currency in the United States.Currency OnLine allows U.S. Bank employees to order foreign currency or drafts and have the drafts delivered to a specific branch. My Travel Wallet will be featured on U.S. Bank's website (www.usbank.com) for customers to access through the Internet and order foreign currency, prepaid cards or the Travelex travel assist program directly and have it delivered by courier to their credit card billing address. Travelex offers over 100 currencies to its business partners through the Currency OnLine and My Travel Wallet programs. "We're excited about the capabilities Travelex has developed to deliver foreign currency solutions through various channels," said Todd Loudenslager, Vice President of Retail Deposit Products for U.S. Bank. "These services align well with our promise to our customers of greater choice and convenience." "Travelex is excited about being awarded a three-year contract with U.S. Bank," said Tom Tucker, Senior Vice President, Head of Sales for the Travelex Business Partners Division. "Both the Currency OnLine and My Travel Wallet programs offer U.S. Bank the flexibility it needs to service customers appropriately. Key to winning the business was Travelex's capability to provide a full service financial proposition, both at the branch level and direct to the customer." U.S. Bank is a subsidiary of U.S. Bancorp. With assets in excess of $182 billion, U.S. Bancorp is the 8th largest financial services holding company in the United States. The company operates 2,200 banking offices and 4,582 ATMs, and provides a comprehensive line of banking, brokerage, insurance, investment, mortgage, trust and payment services products to consumers, businesses and institutions. U.S. Bancorp is home of the Five Star Service Guarantee which assures customers of certain key banking benefits and services or customers will be paid for their inconvenience. U.S. Bancorp is the parent company of U.S. Bank. Visit U.S. Bancorp on the web at www.usbank.com. Travelex is the world's largest foreign exchange specialist, with over 650 retail branches at key airport, seaport and rail locations, in addition to tourist and business centers around the world. Around 40% of the world's airline passengers, over 1.3 billion people, pass through airports at which Travelex is the retail foreign exchange provider, including the major gateways at London, New York, Hong Kong, Frankfurt and Sydney. The Group is one of the world's leading providers of outsourced travel money to banks, travel agencies and other financial institutions. Travelex is the world's largest non-bank provider of commercial foreign exchange services, the world's second largest issuer of Travelers Cheques and the largest provider of Visa branded Travelers Cheques globally. Following its $680 million acquisition of Thomas Cook Global and Financial Services in November 2000, Travelex acquired the rights for use of the Thomas Cook Global & Financial Services brand for up to five years. Tom Tucker of Travelex (610) 524-2157 tom.tucker@travelexamericas.com Teri Charest of U.S. Bank (612) 303-0732 teri.charest@usbank.com |
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