Overview

• NatWest has started transferring 1.8 million Sainsbury's Bank customers as part of a £2.5 billion acquisition deal announced in June 2024.
• Customers are assured of no immediate changes to account access, payments, or benefits like Nectar point collection.
• NatWest now manages Sainsbury’s Bank ISAs, with customers reminded of the £85,000 FSCS protection limit across linked accounts.
• The deal excludes some Sainsbury’s Bank assets, such as ATMs, insurance, travel money, and Argos Financial Services.
• Sainsbury's divested its banking division to refocus on core supermarket operations, a move welcomed by analysts and investors.