Global foreign exchange service provider Travelex has announced a 'Buy Back Plus' scheme, enabling customers to return the unspent foreign currency and travellers cheques at the same rate at which they had been purchased, after their return to the country.
The return of unspent foreign currency and travellers cheques had to made within 31 days of returning home to any of its branches in India, the company said in a release.
"The customers can thus secure the value of their foreign currency and benefit from the protection against any loss on account of rate difference," it said.
Usually, travellers buy at a particular rate and may lose as much as 5-6 per cent due to rate differences when they surrender the unused foreign exchange to banks or money changers, it said.
The company said the customers need to present the original receipt at any Travelex branch and sell their foreign currency and travellers cheques at the same rate they bought.
Travelex claimed that at present no bank or money changer in India offered this service.