TRAVEL service company Thomas Cook has launched a new service for retailers which allows them to credit their transactions in foreign currencies, cash and cheques at their banks on the same day .
Retailers who conduct foreign currency transactions and receive cash and cheques will be spared the toil of transporting those transactions and cash to their banks.
''The new service will translate into significant savings in time and money by offering better rates and speedier processing,'' said Albert Chan, the company's general manager on foreign exchange.
Only retails in busy tourist sites will be provided with such a service. He said it had attracted many retail chains, jewellery stores and trading companies.
Charges will be levied depending on the location and the volume of transactions. ''In some cases, we do not charge anything at all,'' Mr Chan said.
Thomas Cook in Hong Kong provides a complete range of travel services to business, leisure and specialist markets. Through its association with major local banks, Thomas Cook commands the largest share of the market for travellers cheques.