Thomas Cook India Expands Money Transfer Services To Over 14,000 Agent Locations Across India- Projects Strong Growth in 2012

06-Jul-2012 | News-Press Release

Thomas Cook (India) Ltd (TCIL), the market leader in global transaction for foreign exchange solutions, has expanded its money transfer services to over 14,000 agent locations across the country. Through Thomas Cook India and its expanded network, Indian beneficiaries can receive up to USD 75,000 worth of Indian Rupee every year from their overseas family members and thereby lead a better quality life. In appreciation of the exemplary inward remittance services provided to Indian consumers, MoneyGram International recently honoured Thomas Cook India with the prestigious “Excellence in Customer Service” award.


As the Principal Agent of MoneyGram and Sub agent of Xpress Money, Thomas Cook (India) Ltd offers its consumers a key advantage of convenience and reach, including rural markets and remote pockets of the country that have no access to banking channels. Consumers across India can receive money in a matter of minutes at a competitive rate, with cash upto INR 50,000. As a large part of the inward remittance product is used by semi-skilled and unskilled workers who may not have access to banks, Thomas Cook expanding its reach in the Money Transfer business ensures that customers receive remittances from over 195 countries in a simple and almost instantaneous process.


Mr. Madhavan Menon, Managing Director, Thomas Cook (India) Ltd said, “Global remittances are cited by World Bank as one of the most direct forms of aid whereby better education, medical facilities and higher quality of life are enjoyed by migrant dependant families. With over 24 million Indians living abroad and the recent increase in the number of remittances per individual permitted by RBI from 12 to 30 annual transactions, our customer centric delivery and access via our expanded network will certainly aid dependant Indian families in receiving remittances from their overseas relatives in a prompt, convenient and reliable manner.


He further added, “MoneyGram International awarding us the “Excellence in customer service” award is testament to the innovative and customer centric foreign exchange services that we at Thomas Cook (India) Ltd have been providing for over 130 years.”


Thomas Cook (India) Ltd. has been serving the needs of families’ dependant on inward remittance through its large and fast growing branch network present in 78 cities and towns pan India. It also has a strong sub agent network for Moneygram including leading banks and organisations like State Bank of India, IDBI Bank, Muthoot Finance, Manappuram, Bharti Wal-Mart, Punjab National Bank and Central Bank of India among others across over 2500 cities, towns and villages across India.


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