How to save HUNDREDS at the supermarket: Shoppers spot a little-known trick that will slash the cost of your Christmas grocery bill

Australian shoppers have discovered a little-known money-saving trick
Woolworths is allowing shoppers to slash hundreds off bills over Christmas
Customers have option to 'bank' their Rewards points in the lead up to December
Many have managed to save up to $600 dollars to spend over the festive season

Published: 00:49 BST, 23 July 2020 | Updated: 00:52 BST, 23 July 2020

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Shoppers have discovered a little-known money-saving trick that will slash hundreds of dollars off their grocery bill over Christmas.

Australian supermarket chain Woolworths is offering customers the option to 'bank' their Rewards points so they can redeem them over the festive season instead of getting $10 off an eligible shop.

When customers earn $10 Woolworths Dollars or more in their account, any unused balance may be set to expire 12 months from the date of earning them.

However, the 'Bank for Christmas' option now allows shoppers to accumulate all their savings over the year and then spend anytime from December 1 until December 31.

Shoppers have discovered a little-known money-saving trick that will slash hundreds of dollars off their grocery bill over Christmas

A shopper shared a snap showing they have already accumulated $60 to spend at Christmas

How do I change my Woolworths Rewards preferences?

If you want to bank your points up for Christmas instead of getting $10 off an eligible shop or earn Qantas points, you can log in to your Woolworths Rewards account, click on 'My Account' and then select 'Redemption settings'.

From there, you'll be able to choose your preferred reward option or switch between them.

'Just in case you didn't know, you can bank all your [Woolworths Rewards] savings for Christmas time,' a shopper said in Markdown Addicts Australia Facebook page.

'When you get [money] from your Rewards card, you can bank it until December when it will become available. A little saving tip for that crazy Christmas time.'

Many shoppers said they were happy with the initiative, with some saying they have accumulated hundreds of dollars so far.

One customer said they have already saved $600 in the lead up to the festive season, while another person said: 'It's so good, I have $200 for Christmas so far.'

To redeem your Woolworths Dollars at the end of year, simply log on to the website, click on 'My Account', select 'Redemption Settings', and change your preference to 'Bank for Christmas'.

'Once you have opted into Bank for Christmas and until you opt out of Bank for Christmas, all the points you earn will be saved until the Bank for Christmas payout period,' the website said.

Supermarket chain Woolworths is offering customers the option to 'bank' their Rewards points so they can redeem them over the festive season instead of getting $10 off an eligible shop

'This means that when you do your first "Eligible Shop" after the start of the Bank for Christmas payout period, you will have the option to receive your saved Woolworths Dollars as money off your shop.

'You'll be prompted in store or online checkout to decide whether or not you want to redeem your savings on your first "Eligible Shop" after the start of the Bank for Christmas payout period, or whether you want to keep your savings for Christmas.'

Before the Christmas option was made available, shoppers could only earn $10 off a 'future shop' every time they hit 2,000 Woolworths points - or convert every 2,000 points into 1,000 Qantas points.