Travelex has stepped in to help the 21-strong British judo team manage their travel expenses during the imminent World Championships taking place from 9th – 13th September and beyond. The foreign currency provider has issued members of the Olympic hopeful team with Travelex Corporate Cash Passport to trial the system for future travel expense needs. The collaboration further strengthens Travelex’s involvement in the sports arena, following on from a successful partnership with the British Gymnastics team.
The British judo team travels extensively each year; up to 3 times a month across the world, often crossing borders which confiscate large sums of money and have restrictions on taking money in and out. Bearing this in mind, along with the fact that the team spend around 25,000 Euros during each Major Championship and tot up expense bills of around £200,000 annually, the Corporate Cash Passport is the ideal solution for managing their expenses abroad.
The Travelex Corporate Cash Passports will be preloaded with specific amounts each time the team leaves for a championship. Amounts will include team members’ food and travel expenses from the British Judo Association. The card can be reloaded by the British Judo Association, using Travelex’s online card management system, allowing them manage their team members’ expenses effectively during their extensive travels. Cash Passport removes the need for complicated cash deliveries and will show a clear trail of expenses for each of the judo players, so that all transactions and payments can be easily tracked.
The card is available in three different currencies (GBP, USD and EUR) and for security, it is not connected to a bank account. There is also the benefit of a free 24/7 multi lingual Global Assistance service which offers emergency cash up to available balance on the card within 24 hours.
Says Karina Bryant, who has been on the British judo team for 13 years and has competed in three Olympics to date: “I am out of the country, travelling for judo championships up to 20 times a year, so up until now, managing my expenses has been a real challenge. I used to use credit cards so was always incurring huge amounts of interest and paying transaction fees, meaning I lost out on hundreds of pounds each year.
“Corporate Cash Passport will be such a help during the World Championships and beyond. Gone are the days of lots of paperwork and excessive charges**. I am really looking forward to not having to exchange large amounts of money ahead of travelling and it will also be a relief not having to carry cash on me when abroad.”
Says Ana Ansell, Travelex: “Travelex Corporate Cash Passport is the perfect solution for managing expenses incurred through business travel and has significant benefits for companies signed up to the scheme. As well as allowing businesses to manage budget control issues and centralise expenditure, they are also a safe and secure way for employees to spend whilst abroad.
“We are delighted to be able to help the British judo team manage their expenses during the World Championships and for all their travels moving forward. The team is hugely talented, with many members expected to take part in the 2012 Olympics, so we are more than happy to free them from foreign currency worries, allowing them to concentrate on what they are best at – representing Great Britain at judo!”
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ABOUT CORPORATE CASH PASSPORT
In the UK Corporate Cash Passport is available in three currencies (GPB, USD and EUR) and offers a convenient and secure way to carry money abroad, make purchases or withdraw cash. See www.cashpassport.com.
Cash Passport is issued by R. Raphael and Sons plc, Albany Court Yard, 47- 48 Piccadilly, London W1J 0LR, registered no. 1288938 and administered and serviced by Travelex Card Services Limited, 65 Kingsway, London, WC2B 6TD, registered no. 5429739.
- Prepaid Credit Cards Issued to British Judo Team to help manage expenses
- Travelex Corporate Cash Passports to be preloaded with specific amounts
- The prepaid credit cards are available in three different currencies (GBP, USD and EUR)
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