Sainsbury's Bank
Sainsbury's Bank plc was a British bank with approximately 1.7 million customer accounts and 207 travel money bureaux. Its core banking business was sold to NatWest Group, with customer accounts transferring to NatWest on 1 May 2025.
It was owned by Sainsbury’s, the second largest chain of supermarkets in the UK with over 161,000 employees. It was the first major British supermarket to open a bank in 1997. Up until 31 January 2014, Sainsbury's Bank was a joint venture between J Sainsbury and Bank of Scotland. From 1 February 2014, it was a wholly-owned subsidiary of J Sainsbury plc. The Bank offered savings accounts, personal loans, credit cards, foreign exchange, prepaid cards, money transfer, online banking as well as insurance products including car insurance, home insurance, pet insurance, life insurance and critical illness insurance. It had over 1,650 free to use ATMs across Sainsbury’s stores. As of February 29, 2016, Sainsbury's Bank had total assets of £4.499 billion, loans and advances to customers of £3.353 billion and customer deposits of £3.209 billion.
Credit Cards
Balance Transfer Credit Cards
| Annual fee | Purchase rate (variable) | APR Representative variable | |
|---|---|---|---|
| 42 Month Nectar Balance Transfer Credit Card | £0 | 18.95% p.a. | 18.90% |
| 40 Month Balance Transfer Credit Card | £0 | 18.95% p.a. | 18.90% |
| 33 Month Balance Transfer Credit Card | £0 | 18.95% p.a. | 18.90% |
| No Balance Transfer Fee Credit Card | £0 | 18.95% p.a. | 18.90% |
| Annual fee | Purchase rate (variable) | APR Representative variable | |
|---|---|---|---|
| Low Rate Credit Card (No balance transfer fee) |
£0 | 5.94% | 5.90% |
Purchase Credit Cards:
| Annual fee | Purchase rate (variable) | ||
| Purchase Credit Card | £0 | 18.95% p.a. | 0% interest on purchases for 29 months |
| Dual Offer Credit Card | £0 | 18.95% p.a. | 0% interest on purchases for 28 months |
Savings accounts:
Extra Saver - 0.55% - 0.85% AER (minimum deposit: £1)
Cash ISA - 0.80% AER (minimum deposit: £1)
Fixed Rate Saver - Up to 1.20% AER (minimum deposit: £5,000)
Sainsbury’s Bank Awards
"Best Personal Loan Provider" - Moneynet
"Best Rewards Credit Card" - Moneynet
"Best Loan Provider" - MoneySuperMarket Supers Awards
"Personal Loan Provider of the Year - Highly Commended" - Moneyfacts
"Best Direct Pet Insurance provider" - Moneynet
"Best Online Personal Loan Provider" - Money Direct
"Best balance transfer credit card provider" - The Personal Finance Awards 2016/2017
Head office address:
33 Holborn
London EC1N 2HT
United Kingdom
Phone number: +44 131 549 8040
Website: www.sainsburysbank.co.uk
On 20 June 2024 J Sainsbury plc announced the sale of Sainsbury's Bank plc's personal loan, credit card and retail deposit portfolios to NatWest Group. Sainsbury's Bank savings accounts transferred to NatWest on 1 May 2025 and are held under the NatWest banking licence for Financial Services Compensation Scheme purposes. The Argos Financial Services card portfolio was sold to NewDay Group for about £720 million on 31 October 2024, and in September 2024 NoteMachine, a Brink's company, agreed to assume ownership and management of the approximately 1,370 ATMs in Sainsbury's stores, with completion targeted for May 2025. Sainsbury's Bank plc does not appear on the Bank of England's List of PRA-regulated Banks as at 1 August 2026.
The credit card, savings and award details above describe Sainsbury's Bank as it operated before the sale of its banking business and are retained for reference.
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