Overview

• NatWest has completed its acquisition of Sainsbury’s Bank’s credit cards, loans, and savings accounts, with no immediate changes to account access for customers.
• Barclays has reduced its Rainy Day Saver interest rate from 5.12% to 4.61% AER for balances up to £5,000, affecting returns for savers.
• Santander will discontinue non-regulatory text alerts on May 12, urging customers to transition to mobile or online banking for account updates.
• Social media finance expert Caroline Butler has used TikTok to warn customers to stay informed by checking emails and logging into online banking.
• These changes reflect broader trends in digital banking and cost-saving measures, raising concerns for customers reliant on traditional communication methods.