Frequently Asked Questions
Sainsbury's Bank had two shareholders, Sainsbury's and LBG. Through the new arrangement Sainsbury's Bank will be wholly owned by Sainsbury's.
This is a natural next step for Sainsbury's, after 16 years working in partnership with LBG. We'll continue to select and work with the right business partners to provide our customers with the very best products and services to suit their needs.
This is a very exciting development for Sainsbury's and is part of the overall growth plans…of which the bank forms an important part. The transaction forms part of Sainsbury's wider strategy to grow sales and profits from additional services and growth channels outside the supermarket business - Sainsbury's Bank are a large part of this.
Won't Sainsbury's Bank lose a lot of knowledge by moving away from LBG and it's backing? Will the service I receive be affected?
No, Sainsbury's Bank has a very experienced and strong management team and the business has grown year on year. We're fully committed to building our company and continuing to provide great products and the highest levels of service for our customers.
No. There is no immediate change as a result of this announcement and there is no need for you to do anything. We will of course tell you in good time if and when anything changes.
Sainsbury's has now acquired LBG's shares in Sainsbury's Bank. Sainsbury's Bank is now a wholly owned subsidiary of Sainsbury's.
There is no immediate change as a result of this announcement and there is no need for you to do anything. We will of course tell you in good time if and when anything changes.
We've widely communicated our news via the media and on our website. We will write to you if there are any specific changes which impact you.
We have no immediate plans to launch any new products. We're prioritising our plans and innovations around areas where we see the biggest opportunity and potential for growth for our business - innovative, tailored products and services, which make our customers lives easier are our priority.
There is no change to our Nectar point scheme as a result of the change in ownership.
Yes - Sainsbury's Bank continues to have its own banking licence and is separately regulated by the Financial Conduct Authority (FCA). Therefore full protection through FSCS (£85,000) is in place. You don’t need to take any action.
We have no plans to open bank branches. We aim to meet customer needs through offering a range of products, including instant access savings accounts, that enable people to access and deposit their cash easily when in store, online or by phone.