ENGLEWOOD, Colo. -- Travel agents aiming to provide currency
exchange services to international travelers have a new option with
SkyTeller Services' launch of its Destination Currency Exchange
service, with pilot programs in three U.S. markets.
Through the service, which was unveiled May 1 in Charlotte,
N.C.; Denver, and Seattle, travel agents can purchase foreign
currency on behalf of clients by registering with the firm's
secured Web site.
The service is an adaptation of SkyTeller's direct-to-consumer
currency exchange system, available since the firm was founded in
February 1997.
Under the new program, agents can earn a percentage-based
commission by acting as transaction agents for SkyTeller.
"We have always had what we consider to be great relationships
with third parties," said Tom Norton, vice president and general
manager at SkyTeller Services.
"We're definitely interested in trying to further those ties,
and we think we have a service that should appeal to agencies as a
way to open up new business opportunities with international
travelers, as well as a way to earn commissions."
SkyTeller earns its profits through speculation on more than 100
different currencies, Norton said, adding that the company does not
charge franchise or licensing fees to agencies nor does it directly
charge transaction or exchange fees to customers.
Currency bought through the program is shipped directly to the
traveler by U.S. Postal Service priority mail for a $10 fee or by
express mail for $15.