LOS ANGELES -- International Currency Exchange (ICE), a retail foreign currency exchange company based in England, has signed a $650,000 contract to replace its Los Angeles International Airport (LAX) kiosks with 13 custom-built MicroBranches from Diebold.
ICE's fully-staffed MicroBranches will be located at each terminal at LAX, with multiple branches at some of the larger international terminals. The branches range in size from 96 square feet up to 700 square feet.
Services provided at the branches include buying and selling of all traded world currencies, issuing and redeeming of traveler's checks, refund services for lost or stolen traveler's checks and cash advances. Some branches also offer business services such as faxing, photocopying, money wiring and notary public services.
"We handle everything from the concept to the construction of the MicroBranch, including analyzing the market, designing and constructing the facilities, providing the equipment and signage and installing the security equipment," said Bartholomew J. Frazzitta, vice president and general manager of Diebold's physical security division.
Introduced by Diebold in 1995, MicroBranches give financial institutions a way to place transaction services in retail, commercial or campus environments. MicroBranches can offer the same services as traditional full-service branches and are typically located in such off-premises locations as supermarkets, malls and office buildings.
The ICE group operates approximately 100 foreign exchange branches at international airports and railway terminals worldwide, as well as major tourism-related sites in the U.K. and Europe. In addition to Los Angeles International Airport, ICE's airport sites in the U.S. include Miami and Orlando.
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