Interest free direct debit payments introduced by Thomas Cook

Brits looking for new ways to spread the cost of their holidays will welcome the news that Thomas Cook is introducing interest-free direct debit payments.

With only a low deposit up front, customers will be able to take advantage of the zero-fee deal and use monthly payments by direct debit to pay for their booking.

Online choices

When booking, online customers will be able to choose the date the direct debit goes out each month, so that they can match the timing of payment with their own payday.

This means that customers looking to pay by instalments will face no extra charges and pay no more than if they were clearing the whole purchase in one go with their debit card.

GoCardless

The travel agent has partnered with direct debit provider GoCardless to offer the new service and by using the company's technology the direct debit set-up won't involve any paperwork. The automatic, fee-free direct debit instalment mechanism means that customers never need to make any balance payments manually.

Holidays will be offered at the lowest deposit available and this can be paid through credit, debit or Thomas Cook gift cards. A separate choice of which bank account to use for the remaining balance payments can then be made.

Biggest spend

Emma Davis, Head of Digital Product for Search and Book at Thomas Cook, said: “We know that for many of our customers, a holiday is their biggest spend of the year, and we are always looking for ways to help them pay.

“By partnering with GoCardless we're offering our customers an easy, fee-free way to spread the cost of their holiday whilst securing upfront at minimal cost.”

The company has a history of offering innovative payment options, being the first travel company to issue a travellers cheque in 1874.

Sales Vice President at GoCardless, Robert Whiteside, added: “By reducing the burden of a one-off cost Thomas Cook customers now have a stress-free way to pay for their dream holiday.”

Date Created: 15/01/2016