Score of 84.7/100 qualifies for PaymentCheck Certification
Travelex Central Services Limited demonstrates a solid core payment performance, with 76% of invoices settled within 30 days and an average payment time of 26 days, well within standard terms. However, a notable 24% of payments extend beyond 30 days, split between 13% in the 31-60 day band and 11% exceeding 60 days, indicating a meaningful tail of delayed settlements that suppliers should plan for. The 1% formally classified as late suggests most extended payments, while slow, are not technically defaulting on agreed terms.
The payment profile shows moderate volatility, with the 11% over-60-day segment representing the most significant risk factor for suppliers reliant on predictable cash flow. The spread across three distinct payment bands suggests inconsistency in internal processing, potentially driven by invoice complexity, approval workflows, or departmental variation rather than financial distress. Suppliers should expect a degree of unpredictability on a portion of invoices, making reliance on the 26-day average alone an incomplete basis for cash flow planning.
Travelex Central Services Limited presents a moderate-risk payment profile that is broadly acceptable for most suppliers, provided terms and credit exposure are managed carefully. Suppliers are advised to monitor the over-60-day segment closely and consider building a payment buffer into cash flow forecasts to accommodate the 24% of invoices that extend beyond standard terms. Proactive invoice follow-up at the 35-40 day mark and clear contractual late payment provisions are recommended risk mitigation steps for any new or expanding supply relationship.
| 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 2024 - 30 Jun 2024 | 14 Aug 2024 | 26 | 76% | 13% | 11% | 1% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
Our business standard terms are 45 days
Were there any changes to the standard payment terms in the reporting period?
No information available
Any other information about payment terms
Our standard terms are 45 days but the nature of the business allows us to sign up to supplier contracts that can be less or more i.e. rent, utilities, IT contracts etc.
Maximum contractual payment period agreed
45
48hrs or 2 days response time
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.
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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.
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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.
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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?
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During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?
No information available
Travelex Central Services Limited is a private limited company operating within the Travelex group of businesses, providing centralised support and administrative services to the wider organisation. The company name indicates a focus on delivering internal operational functions that underpin the group's broader commercial activities.
The company was incorporated on 16 March 2005 and is registered in England under company number 05393800. Its registered office is located at Worldwide House, Thorpe Wood, Peterborough, England, PE3 6SB, placing it in the East of England region.
As a central services entity within a well-established foreign exchange and travel money group, the company's function is to consolidate and coordinate shared business functions across the organisation. Such centralised service companies in the UK typically manage activities including human resources, finance, compliance, legal support, and technology services on behalf of affiliated group companies.
Travelex Central Services Limited maintains an active status, reflecting its continuing role in supporting the operational infrastructure of the Travelex group within the United Kingdom.