It will mark the first time in its history that Heathrow has appointed one company to provide foreign exchange services across the entire airport.
Under the new agreement, Travelex will provide foreign exchange and ATM services across all five terminals, serving the 70 million passengers that travel through Heathrow each year.
Travelex currently provides these services to 65% of the airport.
Anthony Wagerman, Travelex’s CEO, says: “Our 31-year partnership is built on a world-class team of committed, dedicated individuals who are focused on delivering the best customer experience, supported by cutting edge technology and innovative products.
"We’re thrilled by this news and are excited about what the future holds for us, Heathrow and its passengers.”
Jonathan Coen, retail director at Heathrow says:“The digital revolution and new technology has transformed how our passengers buy their foreign exchange.
"Heathrow is therefore delighted to expand its relationship with Travelex who come with a wealth of experience in that market.
"Our focus will remain with the passenger front of mind and we will continue to work with Travelex to offer good value for money, competitive rates and the best performance with Travelex’s online pre-order service.”
The new agreement will see Travelex double its Heathrow team to approximately 750 people and build on Travelex’s increasing airport presence around the world.
Currently over 40% of travellers – 1.7 billion passengers a year – pass through airports where Travelex operates including the major gateways at Amsterdam, Beijing, Frankfurt, Hong Kong, London, Mumbai, New York, Paris, Sydney and Tokyo.