Co-operative Travel PTAs to sell currency to clients

Co-operative Travel PTAs to sell currency to clients

The Co-operative Travel Personal Travel Advisors are to sell foreign currency in a move touted as a first for the homeworking sector.

The 225-strong group of homeworkers, part of the Thomas Cook Co-operative Travel joint venture, could earn “thousands” more a year by converting at least one in three customers to buy foreign exchange from them.

Trevor Davis, director of specialist businesses for Thomas Cook Co-operative Travel, said: “I don’t believe any other homeworker operating in the UK is selling foreign currency and for me it’s a no-brainer.”

From July, homeworkers’ customers can order foreign currency through their personal travel advisor’s website. The homeworker will automatically receive commission for the sale.

The move will be promoted on customer mailouts and via SMS messages, while agents will be encouraged to promote the service to clients. Based on converting one in three clients, a homeworker with annual sales of £500,000 could earn £5,000 extra a year, said Davis. An average foreign exchange transaction is more than £400.

Davis denied the move was to dissuade Co-operative Travel PTAs from quitting the Thomas Cook-owned group for independent start-ups, which have launched aggressive recruitment drives.

The group is reviewing its membership, with a focus on quality over quantity. “We want people who are serious about their business,” he said.

There are also plans to roll out a foreign exchange service to Freedom Travel Group agents later this year, while Davis said other new products would be made available in the near future.

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