FAQs
- When was Sainsbury’s Bank founded?
- How many customers does Sainsbury’s Bank have?
- What is Sainsbury’s Bank’s market share?
- Who are the Bank’s competitors?
- What products does Sainsbury’s Bank offer?
- How does the relationship between J Sainsbury’s and HBOS work?
- What are the benefits of being a 'supermarket bank'?
- How many staff do you have?
- What is Sainsbury's Bank policy on Corporate Social Responsibility (CSR)?
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 HBOS.
How many customers does Sainsbury’s Bank have?
The Bank has access to over 17 million customer shopping visits through Sainsbury’s stores every week. It has around 1.5 million active customers with deposits in excess of £2 billion.
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 almost 1000 free to use ATMs.
Who are the Bank’s competitors?
We aim to offer an alternative to traditional high street providers, so perceive this sector as our main competition. Marks & Spencer Money and Tesco Personal Finance are similar types of business and together we have shaped the market establishing supermarket banking as a credible new channel.
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.
We have won almost 40 awards in our short history, including twice being named as “Best Overall Provider” in financial services.
How does the relationship between J Sainsbury’s and HBOS 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. HBOS is a market leader in developing financial services products and J Sainsbury 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 - post, store, phone or internet. The Bank’s 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. Lower overheads mean better prices for our customers.
How many staff do you have?
We have 140 head office staff based in Edinburgh and London; 80 sales & service staff in stores throughout the country and around 3,500 colleagues who assist us through our out-sourced service providers.
What is Sainsbury's Bank policy on Corporate Social Responsibility (CSR)?
For information about the group's socially responsible policies please click here to visit the CSR site.
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