Debenhams to offer global money transfer service amid Western Union tie-up

Debenhams credit insurers

Debenhams has partnered with Western Union to expand its foreign exchange services allowing customers to make global money transfers across 112 of its stores.

The move is part of Debenham’s drive to expand its offering in an attempt to return the business to health, following a dismal set of results last week.

For the 26 weeks to March 3, Debenhams reported a profit drop of 84 per cent to £13.5 million, while like-for-like sales dropped 2.2 per cent.

Customers will be able to either carry out the whole transaction in Debenhams Travel Money sites, or start the transaction on the Western Union app and pay in store.

John Lewis, WHSmith and Sainsbury’s already partner with Western Union to offer similar services.

“We are really excited to be working with Western Union to provide a fantastic travel money service to our consumers nationwide,” Debenhams’ head of personal finance Andy Newman said.

“We now have travel money bureaux at over 100 of our stores and will be introducing a total of 6 more in the coming months.”

Western Union’s Massimiliano Alvisini added: “We are delighted in welcoming Debenhams – an international brand with a proud British heritage – into Western Union’s iconic family of Agents.

“As a part of Western Union’s broader fintech and innovation strategy, the company is extending its digital transformation, by integrating digital services across our physical agent network”,

“Today’s customers are looking for different options to send money or receive money via mobile app, web, retail, kiosk, bank or mobile wallet and we are pleased to extend this choice to customers of Debenhams.”

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