Thomas Cook prepaid travel card nixes conversion fees

 Thomas Cook India (TCIL), the leading integrated travel and travel related financial services company, on Wednesday announced the launch of its prepaid travel card called ‘Thomas Cook One Currency Card’. This is being launched in association with MasterCard Worldwide.

Mahesh Iyer, COO (Foreign Exchange) and Head, Visas, Thomas Cook India, said this is the first-of-its-kind prepaid travel card in India with zero cross-currency conversion fees.

“If you take currency conversion charges, it can be from three to four per cent, and with credit card it will be even higher. But with the Thomas Cook One Currency Card, it gives Indian travellers a strong value proposition,” he said. Though prepaid cards have been there in India, only in 2008 was there a lot of traction in the prepaid space with banks entering into this space, he added.

“With exponential growth in multinational travel, the need of the hour is clearly a single currency card. One currency across the globe,” he said.

This Card has PIN security, locking of funds, instant loading, encashment of residual balance and free replacement card, among others.

Iyer says they have been seeing good amount of travellers adapting to prepaid plastic.
The Thomas Cook One Currency Card can be bought or recharged via thomascook.in, and  across Thomas Cook’s foreign exchange network spanning 136 locations.

Trump card

 Thomas Cook launches travel card in association with MasterCard
 The card has PIN security, locking of funds, instant loading, encashment of residual balance and free replacement 
Card gives Indian travellers a strong value proposition

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