Sainsbury’s Bank Travel Money saw online orders for foreign currency almost triple last Sunday (24th February)(2).
The supermarket bank, which is committed to competitive rates and regular supplementary deals, reports that last week it received a 182% increase in online orders for travel money compared to a typical Sunday. In addition, the transaction value was 33% higher than average(2).
Sainsbury’s Bank believes the increase, which has continued both in store and online this week, could in part, be due to holidaymakers looking to secure current rates amongst concerns that the pound could fall further against the value of the euro and dollar. The bank is encouraging anyone purchasing currency during times of heightened volatility to ensure that they are shopping around to secure the best deal.
Simon Taylor, from Sainsbury’s Travel Money, commented: “We saw a real increase in demand for foreign currency at the weekend and into this week which we believe may in part be due to the volatility of Sterling and reports around economic uncertainty and the recent change to the UK’s credit rating. It’s impossible to say when things will improve, so we’re committed to providing great rates for the Sainsbury’s shopper and right now in store, if a customer finds a better rate advertised at a ‘walk-up’ bureau within 5-miles of a Sainsbury’s Bank bureau, we’ll offer to beat it(1) .
Sainsbury’s Travel Money provides customers with the option of ordering foreign currency online, over the phone or in-store at one of the bank’s 126 bureaux at selected Sainsbury’s stores across the UK. Customers also have the convenience of ordering currency online or over the phone and collecting it in-store or having it delivered directly to their home. Charges may apply when selecting home delivery, see sainsburysbank.co.uk for full details. Cash Passport™ pre-paid MasterCard® currency cards can be ordered online and in-store(3).
For further information, please call 0845 366 1151, or visit sainsburysbank.co.uk.
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For further information, please contact:
Ian Morris / Tom Wilson Lorna Gilmour
Citigate Dewe Rogerson Sainsbury’s Bank
020 7282 1037 / 2842 0131 338 2863
Notes to editors:
(1) Analysis of Sainsbury’s Bank online orders
(2) Offer available when buying currency from Sainsbury’s Bank Travel Money bureaux only, does not include buy backs or Cash Passport™ prepaid MasterCard® currency card reloads. The transaction has to be the same day prior to purchase, on a like-for like basis and subject to verification of competitor’s advertised rate. It is not available online or by phone. Terms & conditions apply. Offer available until 22nd March
(3) Delivery charges apply: £4.75 on minimum orders of £100-£299.99; £2.35 on orders of £300-£499; and free delivery on orders of £500 or more. A £1.99 administration fee applies to all online orders under £100 for collection in store. Seewww.sainsburysbank.co.uk for full details and terms and conditions.
To view our latest press releases and product information, please visit the Sainsbury’s Bank online media centre atwww.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.
In 2012, Sainsbury’s Bank was awarded ‘Best Term Assurance Provider Direct’ – Moneyfacts Investment Life & Pensions; ‘Best Personal Loan Provider’ – Consumer Moneyfacts; ‘Best Low Rate Credit Card Provider’ – Moneynet; ‘Best Credit Card for use abroad (Gold)’ – Moneynet; ‘Best Loan Provider’ – Moneysupermarket Supers; ‘Pet Insurance Intelligent Choice, Customer Satisfaction’ – Consumer Intelligence; ‘Best Personal Loan Provider’ – Moneyfacts; ‘Best Direct Personal Loan Provider’ – Your Money Direct; ‘Best Online Pet Insurance Provider’ – Your Money Direct; ‘Best Loans Rate’ – Moneynet.
Sainsbury’s Bank Plc is a joint venture between J. Sainsbury plc and Lloyds Banking Group.
Sainsbury’s Bank has its own banking licence, is separately regulated by the Financial Services Authority and has an independent membership to the Financial Services Compensation Scheme.
Sainsbury’s Bank plc is authorised and regulated by the Financial Services Authority (FSA) register number 184514, except for Credit Cards & Loans where it is licensed by the Office of Fair Trading (OFT) license no. 421 897.
For further information and general Sainsbury’s Bank enquiries customers can call the freephone number on 0500 40 50 60 or visit www.sainsburysbank.co.uk
Travel Money online and instore is provided by Travelex Agency Services Limited, registered number 4621879. Sainsbury’s Travel Money ordered by telephone is provided by Travelex Currency Services Limited, registered number 03797356. Registered office for both companies: 65 Kingsway, London WC2B 6TD.
Cash Passport: Cash Passport™ is issued by R. Raphael & Sons plc, pursuant to license by MasterCard International. MasterCard and the MasterCard Brand Mark are registered trademarks of MasterCard International Incorporated.www.cashpassport.com
Travelex In 1976, Lloyd Dorfman opened the first Travelex Bureau de Change on Southampton Row, London. He is now the Chairman of the world’s leading foreign exchange specialists. We trade in over 80 currencies and in 25 countries.
Customers can find Travelex online and in over 1,000 stores, including all the major airports. Travelex has over 500 ATMs around the world and takes care of foreign currency services for partners including banks, supermarkets and travel agencies, extending our reach to over 100 countries and 20,000 locations.
Travelex continues to grow the geographic reach, both organically and through targeted acquisitions in growth markets. Recent acquisitions include FX Africa in South Africa and Grupo Confidence, the largest consumer foreign exchange specialist in Brazil. www.travelex.co.uk
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