FAQs

When was Sainsbury's Bank founded?

Sainsbury’s was the first major British supermarket to open a bank, commencing trading in February 1997. Sainsbury’s Bank is jointly owned by J Sainsbury plc and Lloyds Banking Group.

How many customers does Sainsbury's Bank have?

The Bank has access to over 21 million customer shopping visits through Sainsbury’s stores every week. We have around 1.4 million active customer accounts.

What is Sainsbury's Bank's market share?

We do not reveal that information, but we expect our market share to continue to grow. We receive over 5 million customer calls to our call centres every year; and receive over 1 million website visits every month. We have an estate of well over 1,200 free to use ATMs which represents 2% of all UK ATMs.

Who are the Bank's competitors?

We aim to offer an alternative to traditional high street providers, so this sector is our main competition. Marks & Spencer Money and Tesco Personal Finance are similar types of businesses and together we have shaped the market establishing supermarket banking as a credible alternative.

What products does Sainsbury's Bank offer?

Sainsbury’s Bank offers a range of great quality products including insurance, credit cards, savings and loans that are competitively priced and are not only easy to understand but also apply for. The products consistently top Best Buy tables and win industry awards.

The Bank regularly wins consumer and industry awards for the competitiveness of its products, its compelling customer offers, and its high standard of customer service.

How does the relationship between Sainsbury's and Lloyds work?

It’s an extremely effective operating model that enables us to benefit from a fantastic brand and a low-cost distribution model via the Supermarket. We have access to a range of expertise and skills and operate an outsourced model where appropriate which gives us the freedom to choose the right partners to provide our customers with products designed with their needs in mind. Lloyds is a market leader in developing financial services products and Sainsbury's provides us with the ongoing physical access to a supermarket that’s critical. Our ability to pull all of this together enables us to offer a range of products at a price and service beyond the reach of most traditional financial providers.

What are the benefits of being a 'supermarket bank'?

We are a multi-channel provider, so customers can reach us by whichever method is most convenient for them including in-store, by telephone and online. Our customers can manage their accounts online and can make savings deposits in-store benefiting from the extended opening hours and parking available at the supermarket.

How many staff do you have?

We have around 200 head office and field staff based in Edinburgh and London. We also benefit from many hundreds of colleagues throughout the country who assist us through our out-sourced service providers.

What is Sainsbury's Bank policy on Corporate Responsibility (CR)?

For information about the group's corporate responsible policies please click here to visit the CR site.