All of major bank's customers set to be transferred to NatWest on Thursday
Sainsbury’s Bank’s personal loans, credit cards and savings accounts will be gradually transferred to NatWest, with the process beginning on May 1.
NatWest is set to take on millions of Sainsbury’s bank customers in DAYS. Sainsbury’s Bank’s personal loans, credit cards and savings accounts will be gradually transferred to NatWest, with the process beginning on May 1.
All of Sainsbury's Bank customers are impacted. There will be no immediate change to how customers use and access their account(s) from 1 May 2025, NatWest has said.
It is expected that customer account(s) will move on to NatWest systems towards the end of 2025. Over the coming months customers will be sent detailed information on what will happen, the banking giant has confirmed on its website.
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Your existing personal loan will continue as normal, and your current personal loan term, payment date and payment amount will remain the same. Payments will need to be made in your existing plan.
The app will continue to be supported and you can use online banking as normal. And the contact centre will remain available to help you service your card.
Existing protection for purchases made on your credit card remain unchanged. Check your account for the current balance transfer and money transfer terms available to you.
Both your Sainsbury’s Bank and NatWest credit cards will continue to operate in the same way, as separate accounts. The way you earn Nectar points on your account is not affected by the recent announcement.
Sainsbury's said: "Your Sainsbury’s Bank Credit Card remains valid and you can continue to use it instore, in other stores or online. As we usually would, we will contact you as and when any changes are made to your product."
It adds: "If you are on an instant, easy or defined access product you can withdraw in accordance with your terms and conditions. If you have a fixed rate fixed term product, the existing terms and conditions still apply and early withdrawals are not permitted.
"There are no changes to the rate you earn on your savings account. As we usually would, if we propose to make changes in future, we will contact you in advance in line with terms and conditions."
The retailer received approval from the High Court to proceed with the transfer of certain personal loans, credit cards and savings accounts to NatWest back in April.