American Express is going to introduce Chinese Yuan Travellers Cheque, one of the world’s first pre-paid travel product for China market, which will be available to Indians travelling to China from June 1, 2010. As per the company release, the product provides a convenient, secure and readily available payment option in response to rapidly growing numbers of business travellers and holidaymakers to China annually. Last year, more than 4.49 lakh people travelled from India to China for business and leisure and the growth in these segments is expected to continue.
The Chinese Yuan Travellers Cheques will be available in India through Thomas Cook, FCH CentrumDirect, VKC Credit & Forex Services, Weizman Forex, TT Forex, Prithvi Softech, Paul Merchants, Cox & Kings, Medpat Finance, and Pheroze Framroze. Once in China, travellers can encash them at approximately 2000 Bank of China branches across China up to CNY20, 000 per person, per branch and per day.
The Yuan Travellers Cheque, available in a single denomination of 500 Yuan, will eliminate the need to carry large amounts of cash or foreign currency. Other benefits include: |