Sainsbury’s Bank is set to close all remaining customer accounts by Monday, marking the final phase of the transition following its sale to NatWest. Previously, credit card holders were moved over on October 3, and loan customers followed by October 31. Now, the remaining savings and other accounts will migrate to NatWest’s banking systems within hours.
The supermarket retailer confirmed the move, stating: “Certain Sainsbury’s Bank Credit Card, Loans and Savings accounts have now moved to NatWest. If your account has moved and you require support, please contact NatWest. Unfortunately, if your account did not transfer, Sainsbury’s Bank is no longer able to provide phone support.”
Simon Roberts, CEO of Sainsbury’s, expressed confidence in the transition: “NatWest’s values and customer focus align closely with ours. As one of the UK’s leading banks, NatWest has the scale and expertise to ensure our financial services customers continue to be well looked after. This move allows us to concentrate fully on growing our core retail business.”
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NatWest Group CEO Paul Thwaite added: “We look forward to welcoming new customers to NatWest, where they will benefit from our award-winning digital banking services. This acquisition strengthens our retail banking business, expanding our credit card and unsecured personal lending portfolios while maintaining a solid risk appetite. We are committed to a smooth transition for all customers.”
This transition marks a strategic shift for Sainsbury’s, focusing on its retail operations while NatWest expands its footprint in personal financial services.