Research(1) by Sainsbury’s Bank Travel Money reveals that 59% of parents in the UK say that their children, under 18 years old, have travelled abroad more than they did at the same age, making them the jet-set generation. One third (33%) of children who travelled abroad had done so before their second birthday and 89% had made the trip before they were ten.
Interestingly, Sainsbury’s Bank said it saw a 10% increase in the number of its family travel insurance policies taken out between 2014 and 2015(2).
The research(1) indicates that the average age for a first trip abroad nowadays is four, in their parents’ day, it was eight. It also reveals a generational gap among parents too; younger parents (aged 18-34) were, on average, six years old and parents aged 35-54 said they were nine.
Simon Taylor, Head of Sainsbury’s Bank Travel Money said: “Our research shows that parents are taking their children away from a very young age which inevitably creates the need for even more forward planning. Shopping around for travel insurance and currency are two holiday essentials that with a little planning could save you money.”
Financial writer and mum of two, Melanie Wright offers the following tips for travelling with young children:
Among young globe-trotters, most (57%) have travelled with their parents and 28% with their school. 26% have travelled abroad with other family members. Nearly one in ten (9%) has taken a long haul flight and 7% have travelled as an unaccompanied minor.
Sainsbury’s Bank Travel Money offers Nectar cardholders an even better rate at its instore bureaux and online, and 0% commission on foreign currency and competitive exchange rates(3). There are over 50 currencies available to order. Open seven days a week and with convenient parking, customers can also purchase a travel money card. Sainsbury’s Bank’s Multi-currency Cash PassportTM MasterCard®(4) can be used like a debit card whilst abroad, giving customers a safe and secure way of carrying their spending money.
Sainsbury’s Bank is also offering customers up to 40% off their Travel Insurance online when they buy Sainsbury’s Bank Travel Money and collect instore by 6th September 2016(5). Customers should use the promotional code they receive when they collect their Travel Money when they apply for their Travel Insurance online. If they’d prefer to get a quote over the phone, call us on 0330 100 7706, although the discount is only valid when they apply online. Our lines are open 8am – 8pm Mon-Fri, 8am – 7pm Sat and 9am – 5pm Sun(6).
Customers can also order currency online or by telephone on 0845 301 2724 and collect from a travel money bureau, or receive free home delivery for orders of £500 or more(3).
For information on Sainsbury’s Bank’s products visit www.sainsburysbank.co.uk or call 08085 40 50 60.
This press release is information for journalists only and is not intended to be a promotion to be acted upon by consumers. Rates and information correct at date of issue.
Notes to editors:
To view our latest press releases and product information, please visit the Sainsbury’s Bank online media centre at www.sainsburysbank.co.uk/media
Sainsbury’s was the first major British supermarket to open a bank, commencing trading in February 1997. Benefiting from a fantastic, trusted brand that enables us to combine the shopping experience with personal finance, Sainsbury’s Bank provides a range of quality products including insurances, credit cards, savings and loans. Our proposition is to make shopping more rewarding by offering customers great products at fair prices, while consistently rewarding shoppers for their loyalty and being easy to do business with at all times. Our products consistently top best buy tables and regularly win awards for quality, price and service.
Sainsbury’s Bank plc. Registered Office, 33 Holborn, London EC1N 2HT (registered in England and Wales, no 3279730) is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority (register no. 184514). Sainsbury’s Bank plc is covered by the Financial Services Compensation Scheme (FSCS).
Sainsbury’s Bank Multi-currency Cash Passport™ is issued by R. Raphael & Sons plc, pursuant to license by MasterCard International Inc. MasterCard® is a registered trademark of MasterCard International Incorporated. R. Raphael & Sons plc is a UK bank authorised by the Prudential Regulatory Authority and regulated by the Financial Conduct Authority and the Prudential Regulatory Authority (registration number 161302) and is permitted to issue e-money. Head office and registered office at 19-21 Shaftesbury Ave, London, W1D 7ED, company registration number 01288938.
Travel Insurance is administered by Cigna Insurance Services (Europe) Limited and underwritten by Cigna Europe Insurance Company S.A-N.V. Cigna Insurance Services (Europe) Limited is authorised and regulated by the Financial Conduct Authority. Cigna Europe Insurance Company S.A.-N.V. is supervised in Belgium by the National Bank of Belgium and the Financial Services and Markets Authority, and subject to limited regulation by the Financial Conduct Authority.