Thomas Cook India opens first foreign exchange outlet in Varanasi, expands distribution network
Omni-channel forex services provider Thomas Cook (India) Limited on Friday announced the expansion of its distribution network with the opening of its first outlet in Varanasi. The move is part of the company’s strategic expansion into emerging markets, taking the total number of forex outlets in Uttar Pradesh to five, it said in a stock exchange filing on December 5.
Strategic Focus on Varanasi Market
The new store is located in Nadesar and is positioned to serve local customers, inbound travelers and Non-Resident Indian (NRI) visitors, the company said. Thomas Cook identifies Varanasi as a high-potential market due to the arrival of significant numbers of international tourists, especially during the winter season, and a large student population traveling abroad for higher education from institutions such as Banaras Hindu University. The store will also cater to the consumer base in nearby cities like Bhadohi and Jaunpur.
Services Offered in the New Location
The Varanasi store offers a portfolio of foreign exchange products and services, the company’s official statement said. These include 26 global destination currencies and Overseas Remittances to over 120 countries. Prepaid Travel Cards offered are the Unlimited Travel multi-currency card, FX Enterprise Card and Study Buddy Card. The company also offers the Thomas Cook One Currency Card, which it says is India’s first prepaid card with zero cross-currency conversion fees. Digital services provided are TC Pay (Forex App), Forex Online, Forex on WhatsApp and V-KYC for 24×7 services. For the launch of the point of sale, the company is offering a special offer with zero transaction fees. Thomas Cook also promises a “Ghar pe Forex” service that offers delivery to your door in two hours.
Deepesh Varma, Executive Vice President, Currency Exchange, Thomas Cook (India) Limited, said: “Varanasi is one of India’s most vibrant spiritual and cultural centres, witnessing demand from travelers throughout the year as well as a significant number of international tourists. The city also serves as a thriving educational centre, home to renowned institutions such as Banaras Hindu University and various colleges, leading to a large student population. A significant number of students travel abroad for higher education and exchange programmes, holidaymakers and permanent travelers traveling to international destinations Varanasi, with its influx of tourists, represents a high potential source market for our forex services.”
“Our new store is designed as a one-stop forex hub, offering convenient access to reliable and seamless forex solutions right in the heart of the city. We are excited to introduce all our innovative solutions, including Unlimited Travel, our Study Buddy Cards and mobile-first forex services, to serve our customers in the region. This expansion reflects our commitment to provide access to our seamless, secure forex services beyond metro cities that meet the needs of a rapidly evolving India,” he added.
Disclaimer: This article was created using AI tools and has been editorially reviewed for clarity and consistency.
