Thomas Cook India has formed a new partnership designed to allow Indian travellers to withdraw money at overseas ATMs without being subjected to charges.
Through the new deal with the Allpoint Network, travellers holding Thomas Cook India’s multi-currency Borderless Prepaid Card can now access 55,000 ATMs across the world, 43,000 of which are in the US.
Thomas Cook India said that internal research had shown that many Indian travellers want to withdraw money aboard, but are often put off by the charges, which can be up to US$5 per ATM transaction.
“Our alliance with Allpoint… ensures that customers can use Thomas Cook India’s Borderless Prepaid Card without any surcharge at ATMs across Allpoint Network locations, thus resulting in substantial savings for Indian travellers,” commented Mahesh Iyer, the company’s chief operating officer for foreign exchange.
“Our partnership with Allpoint is a reiteration of the Thomas Cook legacy as innovators and pioneers in the travel and payment solutions domain,” he added.
One in 12 ATMs in the US is part of the Allpoint Network, while the company’s reach also extends into Canada, Mexico, the UK and Australia.