Our proposed transfer to NatWest – Frequently Asked Questions

Under the Financial Service and Markets Act 2000, a banking business transfer scheme is a Court approved process which we're using to transfer the banking business currently carried out by Sainsbury's Bank to NatWest.

Yes, you need to read the letter or email we sent you, the Customer Booklet and the additional documents at sainsburysbank.co.uk/transfer-scheme; and make sure you’re comfortable with the proposed transfer.

If the Court approves the proposed transfer, we’ll be in touch to confirm that this has taken place, and your account(s) will transfer automatically to NatWest on 1 May 2025. We’ll let you know of any changes to the date of the Court hearing or the Effective Date through our website at sainsburysbank.co.uk/transfer-scheme.

If you can’t find an answer to your question you can email us at sbtransferscheme@sainsburysbank.co.uk or, if you would prefer to speak to someone, you can call us on 0800 0142 131.

If you would like to raise a concern or objection to the proposed transfer, you can find out how to do this on page 45 of the Customer Booklet.

If, on 15 April 2025, the Court doesn’t approve the Scheme, the proposed transfer won’t go ahead, and we’ll get in touch with you to let you know what happens next. 

No, you cannot opt out of the Scheme but if you think you might be adversely affected by the proposed transfer you have the right to raise your concerns or objections. You can find out more about how to do this on page 45 of the Customer Booklet. 

If you don’t want your account(s) to transfer to NatWest and want to close your account, you can find out more about this on page 9 of the Customer Booklet.

If you believe you may be adversely affected by the proposed transfer, you have the opportunity to raise objections or concerns. The Court will take any customer objections into account when making its decision. You can raise objections:

• in person at the Court hearing
• through a representative who will attend the Court hearing on your behalf
• in writing

Your right to object

Your views are really important to us and, if you think you might be adversely affected by the proposed transfer, you’ll have the right to have your say with us or the Court. The Court must approve the proposed transfer before it can go ahead. The hearing is due to take place on 15 April 2025 at The Rolls Building, 7 Rolls Buildings, Fetter Lane, London, EC4A 1NL. 

The Court will only approve the proposed transfer if it considers it appropriate to do so. You should consider the proposed transfer from your perspective and if you think you may be adversely affected by the proposed transfer, you can raise objections or concerns. The Court will take any customer objections into account in making its decision.

Attending the hearing and representation 

You have the right to attend the hearing to present any objections or concerns you may have in person. Alternatively, you may appoint a representative to attend the hearing and present your objections or concerns on your behalf. Your representative doesn’t need legal training and could be a friend or relative but please note that if you wish for your objections to be made by a representative, they will need the permission of the Court to speak or have appropriate rights of audience to appear at Court. Any legal representatives appointed will be at your own cost, unless the Court directs otherwise. If you’re going to attend, or be represented at the hearing, it’ll help if you could let us know of your intention, together with your reasons, by emailing us at sbtransferscheme@sainsburysbank.co.uk or you can call us on 0800 0142 131. This will give us an opportunity to address your objections or concerns. 

We’ll share a summary of any representations you make to us with the Court and the regulators, even if we’ve addressed them. A failure to give notice in advance doesn’t prevent any person who wishes to do so from attending the Court hearing. 

Other ways to object 

If you’d prefer not to attend the Court, but you do have objections or concerns, you can send them to us in writing or call us. We’ll still share a summary of these with the Court and the FCA and the PRA. Whilst you can make your views known up until the day of the Court hearing to approve the proposed transfer, it’ll help if you could let us know any objections by 8 April 2025.

If you wish to make a written objection, you can do so by writing to us, with your reasons at 

Sainsbury’s Bank Part VII
PO Box 5311
Worthing
BN11 9BW 

Or you can email us at sbtransferscheme@sainsburysbank.co.uk.
 
When notifying us of your objection or concerns, please include the Court’s reference number CR-2025-000088 in your response. If the dates set out here change, we’ll post the revised dates online at sainsburysbank.co.uk/transfer-scheme.

Right now, we can reassure you that there are no immediate changes to how you use and access your account(s), and you can still expect the same trusted service from us. 

If the Court approves the proposed transfer, from 1 May 2025 there will be changes to your terms and conditions to reflect a change to the legal entity that provides your account(s), this will change from Sainsbury’s Bank to NatWest. 

To make sure we can continue to service your account(s) until they move on to NatWest systems, expected towards the end of 2025, there will also be a temporary change to your terms and conditions if they contain any restrictions on a third party servicing your account(s). These restrictions will not apply from 1 May 2025 until 3 months after we stop servicing your account(s) on behalf of NatWest.

There will be no other immediate changes to the terms and conditions of your account(s) on 1 May 2025. This includes interest rate(s). Although interest rates on savings accounts won’t change as a result of the proposed transfer, they may change for other reasons, for example to reflect any movements in the Bank of England base interest rate. Any proposed changes to be made to your account(s) in the future, will be made by NatWest after 1 May 2025, and you’ll be given at least 60 days’ notice.

Our insurance and travel money services will continue to be available as they are today and are not included in the proposed transfer.

If the proposed transfer is approved, there won’t be any change to how you access your account(s) immediately after 1 May 2025. You’ll still be able to access your account(s) as normal, view balances and account information, and move money to and from savings accounts (unless your money is in a fixed term account). If you’re registered for online banking and mobile app, your username, password and security details will remain the same. 

Once your account(s) move on to NatWest systems, expected towards the end of 2025, you won’t be able to use Sainsbury’s Bank’s online banking and mobile app to access your account(s) and there will be some steps you need to take to access your account(s) using NatWest’s online banking and mobile app. NatWest will be in touch with sufficient notice before then with instructions on what you need to do, including what to do if you’re already a NatWest customer. 

If the proposed transfer is approved, there won’t be any change to your direct debits or standing orders on 1 May 2025. NatWest will take steps to make sure that, when your account(s) move on to NatWest systems, any existing direct debits or standing orders are transferred to NatWest.

If the proposed transfer takes place, there will be no immediate change to how you can get in touch with us, and you can still use our existing phone numbers. 

We’ll continue to be your key point of contact for any questions relating to your account(s) until we tell you otherwise.

No, your Nectar details will remain the same and you’ll continue to receive the same benefits as you do today. This includes collecting points, redeeming points and use of other Nectar partners.

There will also be no change to how you collect Nectar points with your Sainsbury’s Bank Credit Card.

If you don’t want to become a customer of NatWest, you can close your account(s) in line with your terms and conditions, and (as appropriate) pay back any outstanding balance or withdraw funds. 

If you close your loan account you may be charged an early settlement fee, in line with your terms and conditions. If you settle your loan early, from 1 May 2025 until your account has moved onto NatWest systems, because you don’t want your account to transfer to NatWest and you let Sainsbury’s Bank know by phone (at 08085 40 50 60) or secure message that this is the reason for settling your account early; any early settlement fee you have been charged will be refunded. Once your loan account has moved to NatWest systems, early settlement fees will apply in line with your terms and conditions. If you would like to discuss any early settlement fees applied after your loan account has moved on to NatWest systems, please contact NatWest preferably by phone (at 0345 788 8444) and they will review on an individual basis. If you still have an outstanding balance on your credit card or personal loan account(s) on 1 May 2025 and the Court approves the Scheme, your account will transfer to NatWest and you should continue to make payments.

However, as one of the UK’s leading banks, NatWest has a long history of providing financial services, with best-in-class digital capabilities and the same shared commitment to excellent customer service. As a result, we believe the proposed transfer will meet your financial needs and enhance the breadth of products and services you will have access to.

If the proposed transfer goes ahead, NatWest will become the legal entity and provider of any transferring personal loans, credit card or savings accounts you have with Sainsbury’s Bank as well as any you already have with NatWest. You won’t be able to view your Sainsbury’s Bank account(s) in NatWest’s online banking and mobile app until your account(s) move on to NatWest systems, expected towards the end of 2025. 

There will be no changes to any account(s) you already hold with NatWest. You can continue to manage your account(s) as you do today. 

If you have deposits with Sainsbury’s Bank, NatWest and/or Ulster Bank Northern Ireland, it’s important that you review your account balances to assess if there’s any change to your Financial Services Compensation Scheme (FSCS) protection. There’s more information about this in the question below. 

The FSCS protects customers with eligible deposits up to £85,000 in total across all the savings and current accounts they hold in a regulated bank, building society or credit union. 

If the proposed transfer is approved, Sainsbury’s Bank Savings accounts will be transferred to NatWest, and will become NatWest savings accounts. NatWest also owns Ulster Bank Northern Ireland, and both the NatWest and Ulster Bank Northern Ireland brands share FSCS protection as they operate under the same banking licence. This means that, if the proposed transfer is approved, your maximum FSCS protection will be £85,000 per eligible person across all savings and current accounts you have with Sainsbury’s Bank, NatWest and Ulster Bank Northern Ireland from 1 May 2025. As a result, you may need to make changes so your money continues to be protected by the FSCS. 

You should include Sainsbury’s Bank, NatWest and Ulster Bank Northern Ireland balances when you review your FSCS protection. 

You’ll find a list of banking brands that share FSCS protection at https://www.bankofengland.co.uk/prudential-regulation/authorisations/financial-services-compensation-scheme#chapter-4. 

You’ll find more information about this, including some helpful examples, on page 17 of the Customer Booklet.

If the proposed transfer is approved, from 1 May 2025 there will be changes to your terms and conditions to reflect a change to the legal entity that provides your account(s), this will change from Sainsbury’s Bank to NatWest. 

The following changes will be made to any agreement you have with Sainsbury’s Bank, that is transferring to NatWest, from 1 May 2025.

All references to:

• “Sainsbury’s Bank plc” will change to “National Westminster Bank Public Limited Company”
• The registered address as being “33 Holborn, London, EC1N 2HT” will change to “250 Bishopsgate, London, EC2M 4AA”
• The company registration number being “3279730” will change to “00929027”
• The financial services register number being “184514” will change to “121878”

If the proposed transfer is approved, from 1 May 2025 any reference to Sainsbury’s Bank’s address and contact details for serving legal notices in your agreement(s), will change to NatWest’s registered address as detailed above. 

To make sure we can continue to service your account(s) until they move on to NatWest systems, expected towards the end of 2025, there will also be a temporary change to your terms and conditions if they contain any restrictions on a third party servicing your account(s). These restrictions will not apply from 1 May 2025 until 3 months after we stop servicing your account(s) on behalf of NatWest. 

There will be no other immediate changes to the terms and conditions of your account(s) on 1 May 2025. This includes interest rate(s). Although interest rates on savings accounts won’t change as a result of the proposed transfer, they may change for other reasons, for example to reflect any movements in the Bank of England base interest rate. Any proposed changes to be made to your account(s) in the future, will be made by NatWest after 1 May 2025, and you’ll be given at least 60 days’ notice.

It is proposed that NatWest will make changes to your terms and conditions and will let you know with at least 60 days’ notice when any proposed changes are going to be made.

You’ll find more information about some of the proposed changes to your account(s) when they move on to NatWest’s systems, expected towards the end of 2025, in the Customer Booklet

Credit cards - page 28
Personal loans – page 31
Savings – page 35

Yes, your credit card will still work as normal. There will be no change to the card you use and your PIN. You’ll also still be able to use Apple Pay and Google Pay as normal.

If your card expires, or is lost, stolen or damaged before your account(s) have moved on to NatWest systems, expected towards the end of 2025, you’ll be issued a new Sainsbury’s Bank branded card, after that a new NatWest branded card will be issued to you. 

If the proposed transfer is approved, any agreement you have in place about repayment of debt, for example repayment plans, will continue on your existing account on 1 May 2025. You should keep making the payments you’ve agreed to. If any changes need to be made to your support arrangements in future, NatWest will let you know.

If we’ve written to you to let you know that you’re in persistent debt, any support arrangement you have in place will continue immediately after 1 May 2025. If any changes need to be made to your support arrangements in future, NatWest will let you know.

If the proposed transfer is approved, there won’t be any change to how you access your account(s) immediately after 1 May 2025. You’ll still be able to access your account(s) as normal, view balances and account information. Your username, password and security details will remain the same.

Once your account(s) move on to NatWest systems, expected towards the end of 2025, you won’t be able to use Sainsbury’s Bank’s online banking and mobile app to access your account(s) and there will be some steps you need to take to access your account(s) using NatWest’s online banking and mobile app. NatWest will be in touch with sufficient notice before then with instructions on what you need to do, including what to do if you’re already a NatWest customer.

No. If you make your monthly repayment on time, your repayment won’t change if the proposed transfer takes effect on 1 May 2025, and as long as you don’t have any outstanding payments when your account transfers on to NatWest systems, expected towards the end of 2025, and you pay on time after that.

Interest rates won’t change as a result of the proposed transfer but may change for other reasons, for example to reflect any movements in the Bank of England base interest rate. 
If you are on an instant, easy or defined access account you can continue to save and withdraw deposits in accordance with your terms and conditions.

If you have a fixed rate or fixed term account, the existing terms and conditions still apply, and early withdrawals are not permitted unless you want to reduce your account balance because your combined Sainsbury’s Bank, NatWest and/or Ulster Bank Northern Ireland balance would be greater than £85,000 after the proposed transfer. In this instance, any notice period, penalties, fees and charges won’t apply if you make a withdrawal or transfer (to keep your balance within the FSCS protection limit) within a 3-month period from 1 April 2025 until 1 July 2025. 

If you want to transfer funds from a fixed term savings account to keep your balance within the FSCS protection limit, please call Sainsbury’s Bank on 0800 0142 131 or NatWest on 0345 788 8444 to discuss the options available to you. 

You’ll be notified in advance about any changes that are going to be made in the future.

If the Scheme is approved, on 1 May 2025 NatWest will become the ISA Manager for all Sainsbury’s Bank ISAs. Other than the change of the ISA Manager, your ISA will continue to operate as normal. If you hold an ISA with NatWest and/or Ulster Bank Northern Ireland and Sainsbury’s Bank the accounts will remain separate if the proposed transfer takes effect. You can continue to pay money into these accounts as long as you stay within your overall annual ISA allowance of £20,000.

To make sure the tax-free status of your ISA is maintained, the ISA Manager change will be completed as part of an ISA bulk transfer managed by HMRC. A separate notification about the ISA bulk transfer process will be provided to you at least 30 days before the proposed transfer takes place, and additional information is included below.

If you don’t want NatWest to become your ISA Manager, you can opt out of the ISA bulk transfer. To do this you will have to either close your account (and lose your tax-free status) or send a request to Sainsbury’s Bank to transfer your ISA to another ISA Manager. To make sure we have enough time to process your ISA transfer before the ISA bulk transfer takes place on 1 May 2025, please send your ISA transfer request to us by 20 March 2025. If you opt out of the ISA bulk transfer, either by closing your account or transferring your ISA to another ISA Manager, any notice period, penalties, fees and charges won’t apply from 27 February 2025 until 1 July 2025.

If the proposed transfer is approved and your ISA is transferred to NatWest, you’ll still be able to request an ISA transfer from NatWest to another ISA Manager at any time (subject to the applicable terms and conditions) if you don't opt out now.

If you want to reduce your cash ISA balance because your eligible deposits would be greater than £85,000 after the proposed transfer you can find a new ISA provider and ask them to transfer your Sainsbury’s Bank ISA or NatWest and/or Ulster Bank Northern Ireland ISA (in full or in part) to keep your combined balance within the FSCS protection limit. 

Any transfer into new or existing ISAs must meet HMRC rules and the ISA provider’s rules for the transfer of current and previous years’ subscription(s). Please check with any new ISA provider regarding any restrictions that apply. For example, you may only be able to transfer your full ISA balance.

If you want to transfer funds from a Sainsbury’s Bank or NatWest fixed rate cash ISA account to keep your balance within the FSCS protection limit, please call Sainsbury’s Bank on 0800 0142 131 or NatWest on 0345 788 8444 to discuss the options available to you. 

Any notice period, penalties, fees and charges won’t apply if you make a withdrawal or transfer from your Sainsbury’s Bank ISA (to keep your balance within the FSCS protection limit) from 27 February 2025 until 1 July 2025. For more information about transferring your ISA before 1 May 2025, please see page 39 of the Customer Booklet.

If you want to withdraw or transfer your money to keep your balance within the FSCS protection limit and you can’t match the fixed interest rate you are currently being paid on your savings for the remaining bonus period or term, you may be entitled to a payment to compensate you for any loss of interest. If you think you are in this position, please get in touch with Sainsbury’s Bank on 0800 0142 131 or NatWest on 0345 788 8444.

If, for any reason, you don’t want your ISA to transfer to NatWest, you can transfer your ISA to an alternative ISA provider of your choice. You’ll need to get a transfer form from your proposed new ISA provider and make sure that it’s sent to us by 20 March 2025 so that we have time to process it before the ISA bulk transfer takes place on 1 May 2025. If you do transfer your ISA to another ISA Manager because you don’t want NatWest to become your ISA Manager, any notice period, penalties, fees and charges won’t apply from 27 February 2025 until 1 July 2025.

If you do this, the transfer of your Sainsbury’s Bank ISA to another ISA provider will take effect even if the Court doesn’t approve the Scheme. 

If you’d prefer to wait to submit your ISA transfer request until after the outcome of the Court hearing on 15 April 2025 then your ISA transfer may not be complete before the ISA bulk transfer takes place. Your Sainsbury’s Bank ISA would therefore be managed by NatWest from 1 May 2025 until your transfer request is completed. 

The ISA status of your account will be maintained if you’re part of the ISA bulk transfer or if you transfer your ISA to an alternative ISA provider. However, please note that if you opt out of the ISA bulk transfer to NatWest but don’t provide further instructions in time, you’ll lose the tax-free status of your ISA. 

Any transfer into new or existing ISAs must meet HMRC rules and the ISA provider’s rules for the transfer of current and previous years’ subscription(s). Please check with any new ISA provider regarding any restrictions that apply. For example, you may only be able to transfer your full ISA balance.

You can continue to pay money into your ISA account(s) until the date of the transfer as long as you stay within your overall annual ISA allowance of £20,000.

You can still open a new savings account and, if the proposed transfer is approved, it will be transferred to NatWest on 1 May 2025.

If the proposed transfer is approved, we expect that your account(s) will move on to NatWest systems towards the end of 2025 and over the coming months you’ll be sent detailed information on what will happen. While there may be changes to reflect the way NatWest operates and looks after your account(s), you can be assured that NatWest is working to ensure that, where possible, your new account is the same. This includes the overall amount of interest charged for credit cards, the amount of interest earned for savings, and honouring any promotional offers. 

The overall amount of interest charged for personal loans will be the same as long as you pay your loan in line with your loan agreement. If you don’t pay in line with your loan agreement, for example if there are any outstanding payments when the account transfers on to NatWest systems or payments are made late after that, there may be a slight increase in the amount of interest you are charged (you’ll find more information about this on page 32 of the Customer Booklet).

You’ll be sent information about: 

• Proposed changes which will be made by NatWest to your terms and conditions to reflect the way NatWest operates and looks after your account(s). The details of the proposed changes, and the legal basis for these changes, will be outlined in a Notice of Variation that will be sent at least 60 days before any changes are made and you can see a summary of some of the proposed changes in this booklet.
• Details on when your account(s) will be moved across to NatWest and anything that you will need to do beforehand. This will be sent at least 60 days before any changes are made.
• How you’ll be invited to access NatWest’s online banking services and mobile app, if applicable, and any change in who you’ll need to contact about your account(s)
• What to expect at the point your account(s) move from Sainsbury’s Bank to NatWest systems and any specific arrangements to be aware of.
• When your NatWest loan and savings account details will be confirmed, and anything you need to know to make sure your deposits and/or payments reach your new account. Your credit card number will stay the same.

If you don’t want your account(s) to transfer to NatWest, you can close your account(s) in line with your terms and conditions, and (as appropriate) pay back any outstanding balance or withdraw funds. 

If you close your loan account you may be charged an early settlement fee, in line with your terms and conditions. If you settle your loan early, from 1 May 2025 until your account has moved onto NatWest systems, because you don’t want your account to transfer to NatWest and you let Sainsbury’s Bank know by phone (at 08085 40 50 60) or secure message that this is the reason for settling your account early; any early settlement fee you have been charged will be refunded. Once your loan account has moved to NatWest systems, early settlement fees will apply in line with your terms and conditions. If you would like to discuss any early settlement fees applied after your loan account has moved on to NatWest systems, please contact NatWest preferably by phone (at 0345 788 8444) and they will review on an individual basis. If you still have an outstanding balance on your credit card or personal loan account(s) on 1 May 2025 and the Court approves the Scheme, your account will transfer to NatWest and you should continue to make payments.

You’ll find more information on the proposed changes to credit cards, personal loans and savings accounts in the Customer Booklet

Credit cards - page 28
Personal loans – page 31
Savings – page 35