The new app, called Sumo, enables clients to set up a fee-free multi-currency account that includes a contactless debit card.
Sumo, which will be available next year, allows customers to pay for goods at home and overseas without incurring transaction charges. They can also make four fee-free cash withdrawals at home and overseas every month.
Sumo also has a range of regular and fixed-term savings accounts and an in-built savings tool enables customers to set up weekly or monthly savings. Once they have reached their savings target, they can click through to the Thomas Cook website to book their holiday.
The Sumo app supports seven currencies, including euros and sterling, and savers can exchange their money when the rates are most favourable. The app will be rolled out in the UK next year.
Anth Mooney, of Thomas Cook Money, said: “We know holidays are a big investment which is why we’ve designed a service that makes it as easy as possible for our customers to plan and save all year round for their weeks in the sun and to spend their money on holiday with confidence.
“Sumo has all the security and services customers should expect of a traditional bank account, but because it has been designed with holidaymakers in mind, it includes some great added extras, from removing foreign loading fees on card transactions to offering four fee-free ATM withdrawals at home and overseas per month.”
