Menu

Sainsbury’s Bank Travel Money Research Reveals A Third Of Holidaymakers Will Take More Money Abroad This Year

22 June 2015

Research(1) from Sainsbury’s Bank Travel Money reveals that 33% of holidaymakers intend to take more spending money with them on holiday abroad this year than in 2014. The research shows that the average amount extra is £157 per person.

The research(1) also shows that 43% of those in Yorkshire and Humberside said they plan to take more money on holiday this year, and this was followed by 39% in Wales. The West Midlands and East Midlands saw the smallest percentage increase with 29% and 19% respectively.

Overall, only 12% of people intend to take less money than last year. Others were unsure, not travelling abroad or have not yet planned their holiday.

Sainsbury’s Bank Travel Money is encouraging holidaymakers to ensure they keep their money safe, no matter how much they plan to take with them.

James Carter of Sainsbury’s Bank Travel Money said: “It’s a good idea to take a mix of currency and cards abroad; a pre-paid travel money card provides the convenience of a debit card and the security of being easy to cancel should it be lost or stolen. Our new pre-paid card can also have multiple currencies loaded on to it free of charge (excluding Sterling) and can be managed online and via a mobile app, offering greater flexibility.”

Analysis(2) by Sainsbury’s Bank Travel Money reveals that from 28 May 2014 to 28 May 2015, Sterling is worth between 5.4% and 14% more against five of the six other currencies available on the card, and only worth less against one of them. Sainsbury’s Travel Money says that most UK holidaymakers this year will see their travel money go further than in 2014 because typically around 76% of their holidays are to the EU, compared to just over 5% to North America, for example(3).

 

Currency Percentage change in the value of Sterling against this currency between 28th May 2014 and 28th May 2015(2)
Euro Worth 14.0% more
Australian Dollar Worth 10.5% more
US Dollar Worth 8.5% less
New Zealand Dollar Worth 8.4% more
South African Rand Worth 6.2% more
Canadian Dollar Worth 5.4% more

Source: Exchange rate data published by Bank of England

Sainsbury’s Bank Travel Money analysis also reveals that UK citizens took 38.5 million holiday trips abroad in 2014, up 2.4% on 2013 and 6.5% on 2012.  They also spent £24.4 billion whilst there, which was 3.3% more than in 2013 and 12% more than in 2012(3).

About the Sainsbury’s Bank Multi-currency Cash PassportTM

Up to seven currencies can be loaded on to the new Chip and PIN card: Euros; US Dollar; Australian Dollar; South African Rand; Canadian Dollar; New Zealand Dollar and Sterling.

Customers can request a second card, free of charge at the time of purchase, which can be used as a backup if the main card is lost or stolen. If the card is lost or stolen, they can call Sainsbury’s Travel Money to cancel it. Customers can also access their funds if their card is lost or stolen via Sainsbury’s Travel Money’s emergency cash replacement service (up to the available balance on the card), subject to availability in the relevant location.

With the Sainsbury’s Bank Multi-currency Cash PassportTM, customers can pay for goods and services at merchants around the world that accept MasterCard® cards, withdraw local currency from ATMs displaying the MasterCard Acceptance Mark, manage their money online and move funds between the seven currencies. Fees apply.

The minimum load on to the card at any one time is £50, and the maximum is £5,000.  Over the course of 12 months, up to £30,000 can be loaded on to the card.  Over 24 hours, up to £500 can be withdrawn from an ATM, and the maximum spend over this period is £3,000.

For further information on the new Sainsbury’s Bank Multi-currency Cash PassportTM, visit cashpassport.com/sainsburysbank, call 0800 056 0572 or pick up a leaflet in a Sainsbury’s supermarket.

-Ends-

 For further information, please contact:

Emma Murphy / Timi Merriman-Johnson

Citigate Dewe Rogerson

020 7282 1072 / 2989

Lorna Gilmour

Sainsbury’s Bank

0131 286 0786

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:

(1)   Research commissioned by Sainsbury’s Bank and conducted by Opinium Research. Opinium interviewed a sample of 2,004 GB adults aged 18+ online between 24th and 28th April 2015. Surveys were conducted across the country and the results have been weighted to the profile of all adults.  Opinium is a member of the British Polling Council and abides by its rules.

Location Percentage of people who plan to take more spending money on holiday this year than in 2014 Percentage of people who plan to take less spending money on holiday this year than in 2014
Yorkshire and Humberside 43% 9%
Wales 39% 12%
South West 38% 7%
Scotland 37% 11%
North West 37% 12%
London 35% 15%
South East 32% 11%
East of England 31% 14%
North East 31% 23%
West Midlands 29% 11%
East Midlands 19% 17%

Source: Sainsbury’s Bank and conducted by Opinium Research

 

(2)   Sainsbury’s Bank’s analysis of exchange rate data published by Bank of England, comparing 28th May 2014 to 28th May 2015

(3)   Sainsbury’s Travel Money analysis of ONS Travel Trends 2012, 2013 and 2014.

About Sainsbury’s Bank:

To view our latest press releases and product information, please visit the 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 Finance is a trading name of Sainsbury’s Bank plc. Sainsbury’s Supermarkets Ltd is an appointed representative of Sainsbury’s Bank plc. 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 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 Avenue, London, W1D 7ED, registration number 01288938