Thomas Cook to launch ATM-cum-forex convertors

Thomas Cook India will launch ATM-cum-foreign currency converters by July.

"We will be lauching ATM-cum-foreign currency converters where one can change any global currency. This will also serve as ATM for users," Ashwini Kakkar, MD and CEO of Thomas Cook, said today.

Kakkar said the company has secured necessary approvals from the Reserve Bank of India (RBI), and the withdrawing limit of forex would be in line with central bank's guidelines.

"The estimated cost, including installation and machine, for a single ATM-cum-forex converter is Rs 50-60 lakh. We have earmarked a substantial amount for installing such machines in all our 60 branches," he added.

The first such ATM is expected to be installed within 7-8 weeks. "Currency of any part of the country can be changed through these ATMs, and users can withdraw cash using travellers' credit card," Kakkar said.