Sainsbury's to roll out in-store Travelex bureaus

Source: Travelex

Sainsbury's Bank and Travelex have announced a phased rollout of in-store Bureau de Change, with 14 units planned by the end of December 2007.

Sainsbury's partnership with the world's foreign exchange specialists, Travelex, is designed to meet increasing customer demand for convenient in-store foreign currency purchasing. This roll-out follows the successful launch of a travel money bureau at Sainsbury's Cromwell Road store, London, in March.

In September, Sainsbury's and Travelex will open bureaus in Warrington, Cheadle, Rugby and Wigan, with ten more to be confirmed during November and early December. Travelex and Sainsbury's are aiming for over 100 bureaus to be open and in use at Sainsbury's stores nationwide by the end of 2009. The travel money bureaus can provide up to 71 currencies as well as Travelex's innovative prepaid currency card, Cash Passport, available in sterling, euros and US dollars.

Neal Devine from Sainsbury's Bank commented: "The Cromwell Road trial has been a great success, enabling us to launch a fully operational service in selected Sainsbury's stores. Adding a quality travel money service which provides customers with the convenience of purchasing in-store is a great fit with our approach to retailing.

"This latest addition to the services we offer complements both our customers' holiday checklist and our growing financial services business. Travelex's foreign exchange expertise and proven fulfilment ability guarantees our customers a great service. We're very excited about this wide-scale roll-out which will offer a foreign exchange service to our customers in an ever-increasing number of stores."

A strong pound combined with frequent short haul trips have kept demand in the UK for foreign spending money high. Steve O'Donovan, Regional Divisional Director at Travelex Outsourcing said, "We've seen a strong take-up from Sainsbury's customers that will continue to build as more stores offer the service. Travelex's expertise and ability to offer competitive exchange rates and innovative products, such as Cash Passport, mean both the company and their customers' have access to the foreign exchange offering to suit their needs."

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