• Sainsbury’s Bank has agreed the sale of its travel money business
• The business operates online and through 220 travel money bureaux inside Sainsbury's stores
• This announcement continues the transition of Sainsbury’s financial services towards a model where products are delivered by dedicated brand partners
• There will be no immediate change for customers
30 July 2025 – Sainsbury’s Bank plc (“Sainsbury’s Bank”) has announced the sale of its travel money business to Fexco Group, a financial services and foreign exchange company. This marks another milestone in the ongoing transformation of Sainsbury’s Bank after Sainsbury’s announced a phased withdrawal from its core banking business last year.
The travel money sale to Fexco Group marks the beginning of a new long-term strategic partnership, with foreign exchange services delivered by Fexco Group under the Sainsbury’s brand and Sainsbury’s receiving an ongoing share of revenue and rental income. Customers will continue to be able to access services at over 220 travel money bureaux in Sainsbury’s stores and online – an estate which currently represents almost 10 per cent of the UK market.
This deal follows announcements during the last financial year of the sale of Sainsbury’s Bank’s personal loan, credit card and retail deposit portfolios to NatWest Group and ATM business to NoteMachine and of the Argos Financial Services cards portfolio to NewDay Group.
This agreement is consistent with Sainsbury’s focus on its core retail business and will allow the retailer to continue to benefit from long-term financial services income streams that have a stronger connection to its retail offer.
Bláthnaid Bergin, Sainsbury’s Chief Financial Officer, said: “Travel money is a service our customers value and we’re pleased to be entering a new long-term partnership with Fexco Group that ensures they can continue to access foreign exchange both in-store and online with the same ease and confidence. With over 220 bureaux nationwide and almost 10 per cent of the UK market, this is a well-established part of our offer and we’re pleased it will continue under the Sainsbury’s brand. With specialist expertise and a strong track record in foreign exchange, Fexco Group is a strong fit for our business. I’m also pleased to confirm that there will be no immediate changes, and customers can expect the same high level of service they know and trust.” “We started the phased withdrawal from our core Banking business in January last year and are successfully on track towards a distributed model where the financial services products that we continue to offer will be provided by dedicated financial services providers. Today’s news means we will focus all more of our time and resources going forward on growing our core retail business.”
Neil Hosty, CEO, Fexco Group, said: “We are thrilled to welcome Sainsbury’s Travel Money, its talented team, and their millions of loyal customers to Fexco Group. The reputation and reach of the Sainsbury’s Travel Money business, with over 220 locations, make it a perfect fit with our commitment to delivering market-leading travel money services. Since 1981, Fexco Group has built a legacy of outstanding customer service, delivered through strong partnerships and product innovation. We are excited to extend that same level of excellence and continuity to the exceptional Sainsbury's group as we bring the Sainsbury's Travel Money business into the Fexco Group family."
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About Sainsbury’s
Offering delicious, great quality food at competitive prices has been at the heart of what we do since John James and Mary Ann Sainsbury opened our first store in 1869. Today, inspiring and delighting our customers with tasty food remains our priority.
Driven by our passion for food, together we serve and help every customer. We help everyone eat better by enabling customers to improve their diets while reducing their impact on the environment, one plate at a time.
Our focus on great value food and convenient shopping, whether in-store or online is supported by our brands – Argos, Habitat, Tu, Nectar and Sainsbury’s Bank. Sainsbury’s has over 600 supermarkets and over 800 convenience stores. Argos is a leading digital retailer and is the third most visited retail website in the UK, with over 80 per cent of its sales starting online. Argos is conveniently available for customers to collect from hundreds of Sainsbury’s stores. Digital and technology enables us to adapt as customers shop differently and our profitable, fast-growing online channels offer customers quick and convenient delivery and collection capability.
Our colleagues are at the heart of serving and helping our customers every day and are vital to our success, now and in the future.
About Fexco
Founded in 1981, Fexco is a market leader in Foreign Exchange, Payments, Business Services, and Innovation with a global footprint spanning 50 countries and employing 2,800 people worldwide.
Our Travel Money (Retail FX) division delivers expert foreign exchange services through a trusted network of over 500 locations across Ireland, the UK, Australia, New Zealand, and the Pacific Islands. Renowned for service excellence, we are a preferred partner for customers seeking reliable and competitive travel money solutions.
Our people are passionate about service, and this passion is consistently reflected in our customer feedback. With over 50,000 Google reviews and an average rating of 4.9 stars, many of our stores maintain a perfect 5.0 rating. This passion forms the cornerstone of our ongoing success.
To learn more, visit https://www.fexco.com/