Sainsbury's Gold Card offers free overseas cash withdrawals

Around 380,000 Brits will withdraw the equivalent of £236.4 million in foreign currency over next week's half-term break, according to analysis from Sainsbury's Credit Cards.

Given that many debit and credit cards typically charge a cash withdrawal fee and foreign exchange fees, often up to 3% or £3 per withdrawal, Sainsbury's Finance is urging travellers to make sure they know what fees they will incur before they use their card to withdraw cash; this will avoid any unforeseen amounts appearing on their credit card bill once they return home. 

Sainsbury's Gold Credit Card offers customers a number of attractive benefits when travelling, including no foreign exchange transaction fees, interest-free cash withdrawals (if the whole balance is paid in full and on time each month) and worldwide family travel insurance.

In addition to these benefits, the Sainsbury's Gold Credit Card offers customers a low rate of 9.94% pa (variable) on purchases and offers users double Nectar points on their Sainsbury's shopping in-store, online and in petrol filling stations. The card carries a fee of just £5 per month.

Stuart McKeggie, Head of Sainsbury's Credit Cards said:  "The spring half-term holiday is one of the peak times for Brits to get away and many people will be relying on their debit and credit cards to withdraw currency whilst they're abroad. We're encouraging holidaymakers to think carefully about how they'll access their money, and where possible, find a way that will prevent them from being charged additional fees. Being unaware of this could be a costly mistake and ultimately make their holiday more expensive.

"Sainsbury's Gold Credit Card holders benefit from an interest-free period on any cash withdrawals they make - both home and abroad - providing they pay the balance in full each month. This means they won't incur any unwelcome interest charges to withdraw cash during their holiday, and have peace of mind they can make the payment when they receive their next statement."

The Sainsbury's Gold Card is the latest Sainsbury's Finance product to offer double Nectar points on customers' shopping, in store, online and in petrol filling stations.  The extra Nectar points mean shoppers will receive the equivalent to 2 per cent, when used in conjunction with a Nectar card, off their Sainsbury's shopping bill.

To find out more about the Sainsbury's Gold card, visit sainsburysfinance.co.uk.