Sainsbury’s Bank

Sainsbury’s Bank

Sainsbury’s Bank is a British bank owned by the Sainsbury’s supermarket chain. It was the first supermarket bank to open in the UK. It is headquartered in Edinburgh and has nearly 2 million customers.

Reviews Rating
23%
Review Score
This figure is an average of the reviews score, taken from customer reviews and the overall rating of the bank.
37%
BankRank® Score
This figure is the average of the bank’s total sentiment score and the review scores.
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Matt Crabtree
Senior Editor
Matt Crabtree
Matt Crabtree is a publisher at CompareBanks. He specialises in personal finance and is passionate about helping consumers make informed decisions about their money.
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Overview

First Glance

Sainsbury’s Bank is a British bank owned by the Sainsbury’s supermarket chain. It was the first supermarket bank to open in the UK. It is headquartered in Edinburgh and has nearly 2 million customers.

Features

Contact Info

Email
recruitment@sainsburysbank.co.uk
Address
33 Holborn, London EC1N 2HT, UK
Phone
020 7695 6000

About Sainsbury’s Bank

Sainsbury’s Bank is a British bank owned by the Sainsbury’s supermarket chain. It was the first supermarket bank to open in the UK. It is headquartered in Edinburgh and has nearly 2 million customers.

Sainsbury’s Bank is a British bank owned by the Sainsbury’s supermarket chain. It was the first supermarket bank to open in the UK.

Sainsbury’s Bank was launched in early 1997 as a joint venture between the supermarket and Bank of Scotland (later part of Lloyds Banking Group). In 2013, Sainsbury’s announced its purchase of the 50% of the business owned by Lloyds and completed the transfer in January 2014. The bank then became a wholly owned subsidiary of Sainsbury’s PLC.

Sainsbury’s Bank Products and Services

Sainsbury’s Bank offers a range of financial products including credit cards, savings and loans, travel money, mortgages and home, travel, pet, life and car insurance products.

Savings accounts can be opened with just £1 and earn varied rates of interest depending on whether the account is easy access, defined access or fixed.

Personal loan products are available from £1-40,000, with top-ups also available.

Customers taking out a mortgage with the bank can take out a loan of up to 95% of their home’s value (up to £300,000) so requiring just a 5% deposit. Mortgage customers can also overpay up to 10% of their balance each year without charge.

Customers of Sainsbury’s Bank who both bank and shop with the company can earn bonus Nectar points and preferential rates across a range of Sainsbury’s products.

Car and home insurance policies are underwritten by selected insurers, life insurance by Legal & General, pet insurance by Allianz and travel insurance by ETI International Travel Protection. Nectar Card holders receive a range of discounts on insurance products.

Sainsbury’s Bank also offers international money exchange and travel money services. Nectar Card customers get improved travel money rates.

Sainsbury’s Bank Security

Sainsbury’s Bank products are covered by the Financial Services Compensation Scheme (FSCS) up to the value of £85,000. Sainsbury’s offers customers extensive advice about fraud protection via their website.

Sainsbury’s Bank Contact Details

33 Holborn
London
EC1N 2HT

Telephone: 020 7695 6000

Email: recruitment@sainsburysbank.co.uk

Have a question about Sainsbury’s Bank?

Find answers in Q&As and ask your question

Sveiki galiu atsidaryti einama saskaita? Sainsbury banke? Ir kokia patartumete — Andriejus

Sainsbury’s Bank Reviews

Alun Roberts
March 26, 2024

“I ordered € online with plenty of time before my holiday”

I ordered € online with plenty of time before my holiday. Unfortunately the money did not arrive in time so I arranged for the money to be collected from the airport which all went to plan.

Once I came back from holiday, the money had also arrived at my home address so it need to be returned. I contacted Sainsbury's today and requested they collect the money due to my rural location, they refused and then stated that if I did not return the money then would send in a debt collection company!

I now have to sort this mess out due to poor Service from Sainsbury at my own cost.

Michel Alfonso
March 26, 2024

“Unreliable & Unprofessional I have had a loan with Sainsbury's for the last 3 years”

Unreliable & Unprofessional
I have had a loan with Sainsbury's for the last 3 years. I contacted them to inform that I will miss a payment for financial circumstances. Whilst it was the only missing payment in 3 years, my account was closed and referred to Avantis (Debt Collector), no for one month payment but for the outstanding amount of my loan, around 7K. What kind of trust can you have in a bank who treats customer like that.

Jenny Ritchie
March 26, 2024

“Absolutely apalling. Take almost an hour for customer services to answer calls”

Absolutely apalling. Take almost an hour for customer services to answer calls. They are then totally incompetent. They said they would transfer me to a colleague to take details of my complaint and then hung up! They have breached data security and just don't seem to care. Safe to say I have destroyed my Sainsbury's credit card and have found exceptional customer service elsewhere.

Nemo Nemo
March 26, 2024

“Useless. A massive pain to deal with.”

Useless. A massive pain to deal with.

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Sainsbury’s Bank Accounts

2 years Fixed Rate Saver
2 years Fixed Rate Saver
Savings
Monthly Fee
0.45%
Interest Rate
Overdraft
Overdraft Rate
3 years Fixed Rate Saver
3 years Fixed Rate Saver
Savings
Monthly Fee
0.50%
Interest Rate
Overdraft
Overdraft Rate
4 years Fixed Rate Saver
4 years Fixed Rate Saver
Savings
Monthly Fee
0.55%
Interest Rate
Overdraft
Overdraft Rate
5 years Fixed Rate Saver
5 years Fixed Rate Saver
Savings
Monthly Fee
0.60%
Interest Rate
Overdraft
Overdraft Rate
1 Year Fixed Rate Cash ISA
1 Year Fixed Rate Cash ISA
Savings
Monthly Fee
0.40%
Interest Rate
Overdraft
Overdraft Rate
2 years Fixed Rate Cash ISA
2 years Fixed Rate Cash ISA
Savings
Monthly Fee
0.45%
Interest Rate
Overdraft
Overdraft Rate
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