A ZERO deposit ‘buy now pay later’ payment plan is being introduced by Thomas Cook to help holidaymakers to budget and spread the cost of trips, reports Travel Weekly.

The new payment plan means customers will be able to book a holiday with no upfront cost and then pay the balance off in monthly direct debit instalments.

It is hailed as the first of its kind to be offered by a tour operator and follows direct debit payments introduced in January 2016.

The announcement coincides with the launch of Thomas Cook’s summer 2019 holiday programme which has gone on sale.

Buy now, pay later is available on holidays booked 14 weeks or more before departure and travelling between November 1, 2018 and October 31, 2019.

UK managing director Chris Mottershead said: “We’re always looking for ways to make it easier for our customers to enjoy their well-earned break away.

“Our new zero deposit buy now pay later offer means that they can get the holiday in the diary now, and then spread the cost over the coming months.

“Our existing direct debit payment plan is very popular with families and we expect this new offer to appeal to them too.”

An all inclusive holiday to Kos for two people in May 2019 starts at £114 per month, when paying by direct debit with no deposit.

A similar holiday to Turkey for a family of four in July 2019 leads in at £156 per month.

(Travel Weekly)