What’s happening with Sainsbury’s Bank?
Sainsbury’s Bank is being acquired by NatWest Group. In January 2024, NatWest announced it had agreed to purchase most of Sainsbury’s Bank’s financial products — including credit cards, personal loans, and savings accounts. The transaction is expected to transfer a significant portion of Sainsbury’s Bank’s customer accounts to NatWest, with customers being notified and given options as the migration progresses.
Which Sainsbury’s Bank products are affected by the NatWest takeover?
The NatWest acquisition covers Sainsbury’s Bank’s credit cards, personal loans, and savings accounts. Sainsbury’s Bank’s travel money, pet insurance, home insurance, and travel insurance products are not part of the NatWest deal — these are being handled separately. Existing Sainsbury’s Bank mortgage customers are not affected as Sainsbury’s Bank ceased new mortgage lending in 2019.
What do Sainsbury’s Bank customers need to do?
Existing Sainsbury’s Bank customers do not need to take immediate action — accounts remain accessible in the normal way during the transition period. NatWest and Sainsbury’s Bank are writing to affected customers with details of how their accounts will migrate. Credit card customers will receive new NatWest-branded cards, and the terms of existing credit products will be maintained throughout the transition.
Open Banking in Practice: Sainsbury’s Bank was established in 1997 as a joint venture and became a wholly owned subsidiary of Sainsbury’s in 2014. The sale to NatWest marks the end of Sainsbury’s as a direct banking provider. NatWest is one of the nine CMA-mandated open banking banks. Customers migrating from Sainsbury’s Bank to NatWest will gain access to NatWest’s full open banking and digital banking infrastructure. Read our full coverage on openfuture.world.
FAQ
Will my Sainsbury’s Bank credit card be cancelled?
No — your account will migrate to NatWest; you will receive a new NatWest-branded card and your credit limit and terms should be maintained.
Is Sainsbury’s Bank closing all accounts by a specific date?
The migration is happening in phases; customers are being notified individually — check communications from Sainsbury’s Bank for your specific timeline.
Can I still log into Sainsbury’s Bank online during the transition?
Yes — Sainsbury’s Bank online and app banking remains operational during the migration period until accounts are formally transferred to NatWest.