Thomas Cook (India) Unveils Zero-Markup Forex Card

The updated One Currency Card offers travelers a cost-efficient solution to eliminate hidden fees and maximize foreign currency value during international trips.

MUMBAI — Thomas Cook (India) Limited has launched a major upgrade to its prepaid travel financial services, introducing a zero-markup feature on its popular "One Currency Card." Effective July 2026, the company’s digital-first customers can now load the card with US Dollars and utilize it for global transactions without incurring additional forex markup or cross-currency conversion fees.

The initiative aims to address a primary pain point for Indian travelers: the "hidden" costs associated with currency conversion. By removing these markups, Thomas Cook is positioning the product as a transparent alternative to traditional credit and debit cards, which often carry high spreads and transaction fees when used abroad.

Strategic Shift in Forex Services

The introduction of the zero-markup forex card is part of a broader strategy by Thomas Cook (India) to consolidate its position in the rapidly growing outbound travel market. As India’s outbound tourism continues to surge, the company is shifting from traditional transactional models toward a loyalty-driven, digital-first ecosystem.

According to company statements, the upgrade is exclusively available to customers who purchase or reload the card through digital channels, including the official Thomas Cook website, the mobile app (TCPay), WhatsApp, or the company’s call centers. This digital-first approach reflects the evolving preferences of modern travelers who prioritize convenience, real-time rate locking, and cost predictability.

Enhancing Traveler Value

The "One Currency Card" functions as a single-currency prepaid card. By loading it with USD, travelers can spend in local currencies globally, protected by fixed exchange rates at the time of loading. This feature serves as a hedge against market volatility, ensuring that travelers are not subject to fluctuating rates during their journeys.

Furthermore, the card is equipped with advanced security features, including Chip & PIN protection, and provides insurance coverage of up to ₹7,50,000. These measures are designed to provide peace of mind to leisure travelers, business professionals, and students alike.

Official Sources and Regulatory Compliance

All forex operations conducted through Thomas Cook (India) are fully compliant with the Reserve Bank of India (RBI) regulations. The company’s forex service offerings are designed to adhere to international remittance norms and Liberalised Remittance Scheme (LRS) guidelines. Organizers stated that the transition to a zero-markup model is intended to provide complete price transparency, allowing users to maximize their travel budgets by paying inter-bank-aligned rates.

Why It Matters

For travelers, this development means significant cost savings, as traditional international payment methods can often involve markup fees ranging from 2% to 3.5% per transaction. By opting for a zero-markup card, users can avoid "double conversion" losses and the complexities of dynamic currency conversion (DCC), which often results in unfavorable rates at points of sale.

Key Facts at a Glance

• Zero Markup: Users pay no markup on inter-bank rates when loading the card via digital channels.

• Zero Cross-Currency Fees: Eliminates extra charges when spending in non-USD currencies.

• Rate Protection: Users can lock in exchange rates at the time of loading, shielding them from market volatility.

• Global Accessibility: Accepted at over 35.2 million MasterCard merchants and 2.2 million ATMs worldwide.

• Digital-First Access: Exclusive benefits apply to cards purchased via Thomas Cook’s online platform, mobile app, or WhatsApp.

FAQ

What is the advantage of a zero-markup forex card?

It eliminates the extra percentage fee (markup) usually added to the inter-bank exchange rate, allowing you to spend more of your money on your trip rather than on bank fees.

Can I use the card in countries other than the USA?

Yes. While the card is loaded in USD, it is accepted globally. The zero-markup feature ensures you don't pay extra conversion fees when spending in other local currencies.

How do I avail of the zero-markup feature?

The feature is exclusive to digital purchases. You can avail of it by buying or reloading your One Currency Card through the Thomas Cook website, mobile app, or official WhatsApp channel.

Source: Thomas Cook India (Official Website), Reserve Bank of India (RBI), Thomas Cook Blog - Forex