multivalue, It is hard to say how many $$$ the contract is worth due to the fact that it is probably a percentage (%) of the sale or the conversion rate.
I worked for Bank of America many, many, years ago in the Head office I was the Foriegn exchange specialist. We used Travelex very good company. My son will be going to Washington for his 8th grade school trip and Travelex is the one who issues the Travel Insurance. Just think how many schools go on these trips national and international.
If you think about it we are alligned with a company that not only has a reputation but stability and integrity.
This is big in terms of percentage dollars. WOW! Huff just keeps making this company better and better. And yes folks we can make a lot of money.
Bank of America in the early 90's put in their own program for travellers cheques due to the fact that the commission or percentage was huge and BofA wanted to keep these millions for themselves.
I can assure you this is big bucks. As a banker for over 20+ years retired now but I speak from direct experience. I also was head of accounting and I signed the commission checks to this company from the sales of travellers cheques and foriegn money exchange the checks were BIG.........
I also worked for Credit Unions towards the end of my banking career and used this service as well.
Hope this helps!
I guess I could have spared you my past 20+ years and just said It will bring GTE a lot of money. (Sorry for being so long winded I am truely exited about this news.)
regards,
serious1
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