Sainsbury’s Bank Travel Money saw online orders for foreign currency almost triple last Sunday.
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.
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.
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