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Thomas Cook India money transfers review

Discover more about Thomas Cook India’s exchange rates and money transfer service.

  • Great for locking in an exchange rate in advance.
  • Not so great if you want to complete a money transfer online.

Thomas Cook is one of India’s older travel and travel-related financial services companies. It started operations in 1881 providing a range of travel services and expanded to offer its ‘Send Money Abroad’ operations in early 2013. This service allows customers to send an international money transfer to the bank account of beneficiaries in more than 120 countries across the globe.

Why should I consider Thomas Cook India?

  • Locked exchange rate. You can lock the exchange rate for two days by paying 2% of the total payable amount.
  • Country variety. You can transfer to bank accounts in more than 120 countries using Thomas Cook India’s money transfer service.

What to be aware of

  • Limited currencies. There are a number of currencies not supported so you may need to use an alternative provider if you’re sending an exotic currency.
  • Branch transfers. You have to physically go to a Thomas Cook India branch to complete the formalities for the wire transfer.
  • Eligibility. You have to be an Indian national in order to be able to use Thomas Cook India’s forex services.

How much are Thomas Cook India’s international transfer fees?

When making a money transfer with Thomas Cook India you will pay a Foreign Bank charge, which is added to your transaction in the currency you are sending in. You will also have to pay the Goods and Services Tax (GST) on the foreign exchange conversion.

How are Thomas Cook India’s exchange rates?

Thomas Cook India’s website has a section where live foreign exchange rates are displayed. This also includes the current remittance rate for your chosen currency. You may block foreign currency by paying 2% of the total transaction value. The blocked rate would be valid for two working days.

Keep in mind that banks and money transfer providers usually add a margin on top of the mid-market exchange rate on international transfers. It is best to compare the displayed rate on Thomas Cook India with the current interbank rate to work out the size of this margin.

Available currencies

Thomas Cook India has a comparably small number of available currencies. These include:

  • AUD Australian dollar
  • EUR Euro
  • GBP British pound
  • USD US Dollar
  • SGD Singapore Dollar
  • CAD Canadian Dollar
  • CHF Swiss Franc
  • JPY Japanese Yen

What are the ways I can send money abroad with Thomas Cook India?

Thomas Cook India supports wire transfers. With this you are able to send money overseas to bank accounts in more than 120 countries across the world.

It also uses a reliable network of money transfer service agents like MoneyGram and XpressMoney.

What payment methods does Thomas Cook India accept?

Remittance can be done via various payment methods. Options include debit card, credit card and Netbanking.

How long does an international transfer with Thomas Cook India take?

Transfer processing times depend on your transfer method and where you are sending money to. Generally, a cash pickup will arrive almost instantaneously. However, a bank account transfer may take anything from three hours up to two working days.

Transfers typically takeClock icon for transfer speed

1 day

How to make your first international transfer with Thomas Cook India

You don’t need to have an account with Thomas Cook India in order to make an international money transfer. Instead, you just need to complete the following steps:

Making an international money transfer with Thomas Cook India

  1. Select the currency and the amount you want to transfer.
  2. Fill in your email address and mobile number, and select the state and city where your nearest Thomas Cook India branch is located.
  3. The next screen will show the total payable amount.
  4. Select the purpose of the money transfer.
  5. You can choose to pay the full amount by National Electronic Funds Transfer (NEFT) or Real Time Gross Settlement (RTGS) transfer through your bank account. Alternatively you can pay 2% of the total payable amount at this stage in order to lock in the exchange rate for two days. You can also opt to pay at the branch by debit or credit card. However, in this instance the prevailing exchange rate will be applicable.
  6. Fill in the beneficiary details, including the bank SWIFT code.
  7. Submit the order.
  8. Got to the Thomas Cook India branch to complete Know Your Customer (KYC) formalities and process the money transfer request.

Is Thomas Cook India safe to use?

  • Security and regulation: Government regulated.
  • Established 2013

Thomas Cook is one of India’s oldest travel-related financial services countries. It provides a range of services such as foreign exchange, domestic and international vacations, travel insurance, passport and visa services. Its forex and ‘Send Money Abroad’ operations adhere to the Reserve Bank of India’s regulations.

How does Thomas Cook India compare to other money transfer services?

If you want to see how Thomas Cook India compares to the exchange rates and fees offered by other money transfer services, enter the details of your transaction into the table below.

1 - 3 of 3
Name Product Minimum Transfer Transfer Time Transfer Fee
Wise (TransferWise)
USD 1
1-2 days
Varies
Wise uses the mid-market rate and transparent fees to help you send money in 45+ currencies.
Skrill
Skrill
INR 80
1 day
None
Skrill offers easy transfers to many popular destinations, but keep an eye out for added fees.
Instarem
USD 1
Within minutes
1%
Instarem offers zero transfer fees on all transfers.
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Compare up to 4 providers

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