American Express today launched the TravelFunds(R) Card, a unique prepaid, reloadable travel card designed to bring true peace of mind to travelers worldwide. Available in three currencies, the TravelFunds Card can be used globally at the millions of merchants that welcome the American Express(R) Card, as well as at ATMs worldwide that accept American Express Cards. Today`s announcement marks a significant expansion of the company`s portfolio of prepaid products.
“Today`s travelers have an increasing number of worries when it comes to protecting their travel funds and valuables. In addition to concerns about loss and theft, more and more people are also worried about becoming a victim of identity theft,” said Valerie Soranno Keating, President, American Express Global Travelers Cheques and Prepaid Services Group. “Yet, despite these concerns, Americans spend more than $100 billion in cash annually when they travel. When that money is lost or stolen, it`s gone forever.”
The TravelFunds Card brings travelers a level of safety and convenience that no other payment method provides, such as the ability to obtain a refund on a 24-hour basis if the card is ever lost or stolen. Moreover, unlike a debit card, the TravelFunds Card is not linked to a bank account, providing further protection from financial theft and loss.
In addition to potential debit card theft and loss when traveling, consumers also have growing concerns over identity theft, which has affected more than 27 million Americans in the last five years, including nearly 10 million in the last year alone, according to a recent Federal Trade Commission Report.*
“With so many potential risks, consumers are looking for a product like the TravelFunds Card that can provide a safety-net when they travel.” said Randall Beard, Vice President Global Marketing, American Express Global Travelers Cheques and Prepaid Services Group. “Because the TravelFunds Card is not linked to their personal bank accounts, consumers can leave their worries behind and spend their vacation on vacation.”
TravelFunds Card Features and Benefits
As a global leader in travel and payments, American Express has more than 100 years of experience providing travelers with peace of mind when they are away from home. American Express has brought that unparalleled experience to bear with the launch of the TravelFunds Card, providing a range of unique benefits, including:
—Worldwide refund service, usually within 24 hours, 7 days a week
—Worldwide passport and credit card replacement assistance at no additional cost
—The option to reload the card, virtually anywhere, anytime
—American Express customer service support worldwide 24 hours a day, 7 days a week
—Funds that never expire
—Available in U.S. Dollar, Euro and British Pound Sterling; ability to lock in exchange rates
“When you add up all the exciting features of the TravelFunds Card, it all translates into a safe and convenient new currency for travelers worldwide,” said Ms. Soranno Keating.
The TravelFunds Card can be purchased via telephone toll-free, at 1-888-412-6945 and through the American Express web site at www.americanexpress.com/travelfundscard. American Express is also working with many of its travel-related partners such as Continental Airlines, Delta Air Lines, Starwood Hotels & Resorts Worldwide, Alamo Rent A Car and National Car Rental to expand the distribution channels for prepaid products and make purchasing easier and more convenient for consumers.
The TravelFunds Card is the latest addition to the American Express Global Travelers Cheques and Prepaid Services product portfolio. In addition to the 113-year old American Express Travelers Cheque - the preeminent brand welcomed worldwide - the Company also offers Cheques for Two, Gift Cards, Gift Cheques, the Be My Guest dining card, as well as a range of corporate incentive prepaid products through American Express Incentive Services.
American Express Company is a diversified worldwide travel, network, and financial services provider founded in 1850. It is a leader in charge and credit cards, Travelers Cheques, travel, financial planning, investment products, insurance and international banking. For more information, visit www.americanexpress.com.
The Federal Trade Commission survey on identity theft released on September 3, 2003 is available from the FTC`s Web site at http://www.ftc.gov and also from the FTC`s Consumer Response Center, Room 130, 600 Pennsylvania Avenue, N.W., Washington, D.C. 20580.