TRAVELEX UK LIMITED
Company Information
- Company Number
- 01985596
- Registered Address
- Central Square, 29 Wellington Street, Leeds, England, LS1 4DL
- Status
- Liquidation
- Employee Count
- 895
- Turnover
- £149,382,000
- EBITDA
- £2,066,000
Additional Details
- Website
- https://travelex.com
- Company Type
- Private limited Company
- Incorporated On
- 4 February 1986
- Nature of Business
- 96090 - Other service activities not elsewhere classified
- Industries
- Coming Soon
- Region
- Yorkshire and The Humber
Time to Pay
Payment Timeline
Payment Features
Performance Reports History
| Reporting Period | Filing Date | Average Time to Pay (days) | Paid within 30 days | Paid 31-60 days | Paid after 60 days | Not Paid within Terms |
|---|---|---|---|---|---|---|
| 01 Jan 2018 - 30 Jun 2018 | 31 Jul 2018 | 21 | 86% | 10% | 4% | 37% |
Payment Time Trends
Payment Distribution Trends
Invoice Payment Practices
This information is as reported by the business, and responses are in their own words.
Payment Terms
Standard payment terms
The Company’s standard supplier payment terms are included in the Group’s Standard Supplier Terms and Conditions (‘‘Standard Supplier T&Cs’’). The standard payment term of the Company is 45 days (the ‘‘Standard Payment Term’’). The Standard Payment Term is applicable to new supplier contracts. The rules governing the Company’s payment process are included in our Standard Supplier T&Cs. A supplier is required to invoice the Company on completion of the services rendered through such invoicing procedure as notified by the Company to the supplier from time to time. Each invoice should include supporting information required by Company to verify the accuracy of the invoice, including but not limited to, the relevant purchase order number. Under our Standard Supplier T&Cs and in consideration for the supply of the services by a supplier, the Company is required to pay the invoiced amounts within 45 days of the date of a correctly rendered invoice sent by a supplier.
Were there any changes to the standard payment terms in the reporting period?
No information available
Any other information about payment terms
No additional information
Maximum contractual payment period agreed
45
Dispute Resolution Process
The Company is committed to comply with the payment terms agreed with a supplier. Any dispute related to supplier payment will be handled by the Company’s Legal department and/or Procurement team. The Company’s Standard Supplier T&Cs include the following provisions in relation to the process for resolving disputes related to payment: If the Company fails to make any contractual payment due to a supplier by the due date for payment, then, without limiting the supplier's available remedy as set out in our Standard Supplier T&Cs: - The Company is required to pay interest on any overdue amount at the rate of 3% per annum above The Bank of England's base rate from time to time. - Such interest will accrue on a daily basis from the due date until the date of actual payment of the overdue amount, whether before or after a potential judgment. - For payments disputed in good faith, interest on any overdue amount will only be payable after the dispute is resolved, on sums found or agreed to be due, from the due date until payment. In addition to our standard supplier payment terms, Travelex’s Global Supplier Governance Policy (the ‘‘Policy’’) governs the relationship between the Group and its suppliers. The Policy outlines the governance standards that must be adhered to by the Group, including the Company, when engaging in the activity of purchasing products and services from third parties. The Policy also aims to ensure that the Group meets the obligations of its partners and regulators.
Other Payment Information
Has this business signed up to a code of conduct or standards on payment practices?
For example, signatories to The Prompt Payment Code must commit to paying 95% of their invoices within 60 days.
❌
Does this business offer e-invoicing in relation to qualifying contracts?
This is where suppliers can electronically submit and track invoices. It's not just allowing suppliers to email them an invoice.
❌
Does this business offer supply chain finance?
This is where a supplier who has submitted an invoice can be paid by a third-party finance provider earlier than the agreed payment date. The business would then pay the finance provider the invoiced sum.
❌
Under its payment practices and policies, can this business deduct sums from payments under qualifying contracts as a charge for remaining on a supplier list?
❌
During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?
No information available
Company Summary
TRAVELEX UK LIMITED is a leading foreign exchange company based in the United Kingdom. The company offers a range of travel money services, including currency exchange, prepaid travel cards, and international money transfers.
As part of their commitment to sustainability, TRAVELEX UK LIMITED has implemented a number of initiatives to reduce their environmental impact. This includes using renewable energy sources, reducing paper usage, and promoting sustainable travel options for employees.
The company's main product is its currency exchange service, which allows customers to buy and sell over 60 different currencies at competitive rates. They also offer prepaid travel cards, which are accepted at millions of locations worldwide, making it a convenient and secure way to manage travel money.
Some key people at TRAVELEX UK LIMITED include the CEO, Tony D'Souza, and the Executive Chairman, Lloyd Dorfman. Both have extensive experience in the financial and travel industries, and are committed to driving the company's success and sustainability efforts.
For customers who need assistance, TRAVELEX UK LIMITED has a dedicated customer service team that can be reached through their website or by phone. The company's website also offers a range of resources, including currency exchange rates and travel tips, making it a valuable resource for travelers.
TRAVELEX UK LIMITED's registered office address is at 65 Kingsway, London, WC2B 6TD, United Kingdom. Their website, www.travelex.co.uk, provides further information about their services, sustainability efforts, and contact details. With its strong commitment to sustainability and convenient travel money services, TRAVELEX UK LIMITED is a trusted and reliable choice for travelers in the United Kingdom.
