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HSBC Holdings plc has signed a three-year contract for American Express to supply travellers cheques through HSBC branches, making this contract the largest global agreement of its type of the American Express Travellers Cheque Group. Customers will be able to encash their American Express travellers cheques, bought from HSBC, at all HSBC branches worldwide free of any commission charge, a bank release said.

Brendan McDonagh, Senior Executive, Strategy Implementation at HSBC said: "This is an important move for us. Together with American Express we will continue to provide our customers with a service they can rely upon whether in their own country or overseas. Our customers will be assured of access to the world's largest network of travellers cheque encashment locations and a refund service that is second to none".

Barbara Fraser, President of the American Express Travellers Cheque Group, said: "The contract with HSBC is a significant global achievement and builds on our already strong relationship with HSBC. This agreement is a clear endorsement, not only of American Express Travellers Cheques, but also of our commitment to outstanding customer service around the world. That commitment means keeping our promise to customers 24 hours every day, seven days each week, by authorising speedy refunds of lost or stolen travellers cheques all around the world."

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