Modes of Payment in Hotel

Modes of Payment in Hotel

Modes of payment are ways by which customer can settle their bills in hotel.
Payments are received usually after the service has been provided in hotel so specific credit limit is provided for each guest. A guest can settle his payment or bills by follow ways :

1. Cash :

It is the most common and widely accepted payment mode. Payment are made in local currency or in widely accepted foreign currency. The cashier should know the exchange rate well and should distinguish currency well. 

2. Credit card :

It is issued by bank to its customers and can be used for various purpose. It is a plastic card with chip. Different major credit card are accepted by hotel and is very popular modes of payment. It should be known that the credit card holder and the owner are same person and card should have validity.

3. Debit card :

It is very accurate. money is withdrawn directly from account number while making transaction with debit cards.  It is check card

4. Travelers cheque :

Travelers cheque are accepted by hotel in which a guest purchase traveller cheques in his country before starting journey. It is signed twice. They are exchanged for their required currency value and amount will be added to hotel account by bank

5. Personal cheque :

Hotel never accepts third party cheque. Personal cheques are accepted rarely. Only regular well known guest personal cheque are accepted. It need well identification of guest and is only authorised by lobby manager with application and support with some guarantee.

6. Company Accounts :

The guest from company have ledger account and the charge is added to the ledger directly.  The bill is collected directly after sending bill to the company . It is to encourage regular business from corporate houses. The guest just signs it on behalf of company. 

 Fig :- credit card.

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