Thursday, October 29, 2009

Modes of payment

Modes of payment

The mode of payment refers to the various methods of payment by which the guest can pay his/her bills in the hotel. Whenever guests check into a hotel, he/she has to make clear about the mode of payment at the time of resistration.
When the guest check-out of the hotel, they pay the bills by cash or credit card. The different methods of payment of bills are:
1. Cash
2. Credit card
3. Travelers cheque
4. Travel agent/Airlines voucher
5. Company account
1. Cash: Cash is simple and instant mode of payment of the services used by the guests. Cash may be in local or foreign currency. The bill is presented by the cashier and the payment is done on hand.
2. Credit card: It is a small card issued by the banks to its valueable customers that authorizes the person named on it to charge services to his/her account. There are many kinds of credit cards such as master card, visa card, euro card, american express card etc.
3. Travelers cheque: It is a cheque issued by any bank to the travelers in exchange of the cash. It is another form of cash.
4. Company account: The related company of a guest may pay the bills in this method.

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