A savings account held in trust is an account opened and managed by a trustee on behalf of a beneficiary, for example a parent could open an account and hold it in trust on behalf of their child until that child reaches a certain age.

Our savings accounts held in trust did not transfer to NatWest on 1 May 2025 and continue to be Sainsbury’s Bank products.

Later this year we’ll stop managing our savings accounts held in trust. This means that it’s important that account holders take action now to  either transfer the funds to another  account where they can continue being held in trust  or to the beneficiary if they can now receive these funds. The Sainsbury’s Bank account can then be closed.

Savings, loans or credit card accounts can become inactive ( i.e. where there has been no activity on the account for a long time) but they could still hold a credit balance.

Later this year we will close  all of our inactive accounts.

If you’re not sure you had a savings account with us, then you can trace it using mylostaccount.org.uk. It is an official site offering a free service that helps you trace lost current and savings accounts.