Global foreign exchange leader Travelex officially began its onshore wholesale banknote operations in Canada today, October 21st, which is seen as a pivotal milestone in the company’s global growth plan.

Travelex Currency Exchange Canada Limited will offer international banknote services to financial institutions and money services businesses (MSBs) throughout the country. This company, registered as an MSB, has already partnered with over 20 Canadian banks and retail currency exchange providers, including Interchange Financial.

Interchange Financial’s COO, Sam Karkhanechi, expressed satisfaction: “We’ve been operating in the FX banknote sector for more than 20 years and are thrilled to collaborate with Travelex as our main supplier for foreign banknotes international. Travelex’s extensive reach, reliability, and unparalleled service continue to set industry standards.”

A New Service

As an onshore operation, Travelex will maintain a local vault in Toronto, previously used by the Exchange Bank of Canada. This expansion brings Travelex’s global vault network to 13 locations, which includes cities like London, Sydney, Hong Kong, and the UAE.

With nearly 25 years of expertise in wholesale banknote operations, Cameron Hume, Travelex’s Global Wholesale Director, stated: “With our gold standard approach, we combine a market-leading regulatory framework, top-tier global infrastructure, and unrivaled industry experience. I am excited that we can support various organizations as we continue to deliver reliable and speedy services to our clients.”

Travelex’s operations in Canada will be spearheaded by Davish Bucktowar, who takes on the role of Canada Trading Director, based in Toronto. Bucktowar was previously the Senior Director of Financial Institutions at the Exchange Bank of Canada, overseeing customized banknote solutions.

Hume further added, “I am happy to welcome Davish to Travelex. His familiarity with the local market, insight, and proven leadership will be crucial to our operations as we aim to provide top-notch service to our customers.”

For more details, visit Travel Daily Media.