Sainsbury's Bank sold to Natwest

jackjones01

WillPS said:

jackjones01 said:

The approvals been granted now by the high courts. Will everyone have a NatWest card for will people get an RBS card for example if you live in Scotland. 

Either brand is possible, but I would guess everyone will get Natwest.

I think Natwest Group is in the process of elevating the Natwest brand over the RBS one - until recently every product launch had a Natwest and an RBS version, but now there's been at least one product which has been released only as Natwest (the Travel Reward CC). RBS also briefly stopped accepting Student bank account applications, instead signposting to Natwest, although I see they have reversed this change now.

It's also possible Natwest will create some other brand to service these customers too, unlikely tho.

Great - I have an account with both NatWest and RBS. However my account with NatWest is only a foundation one and they won’t budge on upgrading it to a select account or even opening one. However with RBS I have a select account. 

Olenna

jackjones01 said:

The approvals been granted now by the high courts. Will everyone have a NatWest card for will people get an RBS card for example if you live in Scotland. 

There is no need to guess as the Court transfer documentation says National Westminster Bank plc.
RBS and Natwest are separate banks not simply brands and Natwest Group isn't a bank.

WillPS

Olenna said:

jackjones01 said:

The approvals been granted now by the high courts. Will everyone have a NatWest card for will people get an RBS card for example if you live in Scotland. 

There is no need to guess as the Court transfer documentation says National Westminster Bank plc.
RBS and Natwest are separate banks not simply brands and Natwest Group isn't a bank.

Credit card books can be reallocated or sold between group companies relatively easily, we've seen this happen recently with JLFS being folded in to HSBC UK. Deposits are a bit more complicated because of FSCS implications.

Whether they'd want to do that is of course another thing altogether.

EDIT: and of course National Westminster Bank operates multiple brands under its license.

WillPS

More info here: https://www.sainsburysbank.co.uk/transfer-scheme

and also here: https://www.natwest.com/support-centre/sainsburysbank-transfer-scheme.html

Literally everything refers to NatWest, so I think you can rest assured it is going to be NatWest you end up with. Another interesting tidbit on that first link (my bold):

Once your account(s) have moved to NatWest systems, expected towards the end of 2025, it is proposed that:

• You’ll continue to be able to use your existing card, including Apple Pay and Google Pay, and PIN number. If your card expires, or is lost, stolen or damaged before your account(s) have moved on to NatWest systems, you’ll be issued a new Sainsbury’s Bank branded card, after that a new NatWest branded card will be issued to you. 

• There will be no change to:
  • Your credit card limit 
  • Your interest rate(s) and minimum payment requirements 
  • Any 0% offer in place, this will remain until the end of the promotional period
  • How you collect Nectar points
  • Any direct debits you have set up

I wonder how long that arrangement will continue for, and if Natwest will launch Nectar-earning cards of their own.

stclair

WillPS said:

More info here: https://www.sainsburysbank.co.uk/transfer-scheme

and also here: https://www.natwest.com/support-centre/sainsburysbank-transfer-scheme.html

Literally everything refers to NatWest, so I think you can rest assured it is going to be NatWest you end up with. Another interesting tidbit on that first link (my bold):

Once your account(s) have moved to NatWest systems, expected towards the end of 2025, it is proposed that:

• You’ll continue to be able to use your existing card, including Apple Pay and Google Pay, and PIN number. If your card expires, or is lost, stolen or damaged before your account(s) have moved on to NatWest systems, you’ll be issued a new Sainsbury’s Bank branded card, after that a new NatWest branded card will be issued to you. 

• There will be no change to:
  • Your credit card limit 
  • Your interest rate(s) and minimum payment requirements 
  • Any 0% offer in place, this will remain until the end of the promotional period
  • How you collect Nectar points
  • Any direct debits you have set up

I wonder how long that arrangement will continue for, and if Natwest will launch Nectar-earning cards of their own.

I received a letter today about the transfer with my updated T&Cs and it makes reference to NatWest Nectar Credit Card 

sausage_time

I'm an existing RBS customer.  I assume the RBS and NatWest apps can coexist?  Perhaps the NatWest card will be visible in the RBS app (in the future, if not now)

Olenna

WillPS said:

Olenna said:

jackjones01 said:

The approvals been granted now by the high courts. Will everyone have a NatWest card for will people get an RBS card for example if you live in Scotland. 

There is no need to guess as the Court transfer documentation says National Westminster Bank plc.
RBS and Natwest are separate banks not simply brands and Natwest Group isn't a bank.

Credit card books can be reallocated or sold between group companies relatively easily, we've seen this happen recently with JLFS being folded in to HSBC UK. Deposits are a bit more complicated because of FSCS implications.

Whether they'd want to do that is of course another thing altogether.

EDIT: and of course National Westminster Bank operates multiple brands under its license.

JLFS wasn't folded in to HSBC UK. John Lewis Financial Services was renamed HSBC legacy partnership in 2024 and is currently in liquidation.

The court documentation has would have clearly said if Scottish residents were getting transferred to Royal Bank of Scotland plc and rUK were going to National Westminster Bank plc. Only National Westminster Bank plc was listed - which is what that poster was asking.

WillPS

Olenna said:

WillPS said:

Olenna said:

jackjones01 said:

The approvals been granted now by the high courts. Will everyone have a NatWest card for will people get an RBS card for example if you live in Scotland. 

There is no need to guess as the Court transfer documentation says National Westminster Bank plc.
RBS and Natwest are separate banks not simply brands and Natwest Group isn't a bank.

Credit card books can be reallocated or sold between group companies relatively easily, we've seen this happen recently with JLFS being folded in to HSBC UK. Deposits are a bit more complicated because of FSCS implications.

Whether they'd want to do that is of course another thing altogether.

EDIT: and of course National Westminster Bank operates multiple brands under its license.

JLFS wasn't folded in to HSBC UK. John Lewis Financial Services was renamed HSBC legacy partnership in 2024 and is currently in liquidation.

The court documentation has would have clearly said if Scottish residents were getting transferred to Royal Bank of Scotland plc and rUK were going to National Westminster Bank plc. Only National Westminster Bank plc was listed - which is what that poster was asking.

The assetless company was renamed and is now being wound up, but that was only after the customers and loanbook (i.e. the entirety of "the business") had been transferred to HSBC UK:

https://forums.moneysavingexpert.com/discussion/6448185/john-lewis-change-again/p1

Banks can move customer books within their groups, JLFS -> HSBC UK being a good recent example. There are thesholds over which the courts must be engaged; AIUI the most common one being customer deposits over a certain amount (which clearly does not apply to loanbooks).

Olenna

WillPS said:

Olenna said:

WillPS said:

Olenna said:

jackjones01 said:

The approvals been granted now by the high courts. Will everyone have a NatWest card for will people get an RBS card for example if you live in Scotland. 

There is no need to guess as the Court transfer documentation says National Westminster Bank plc.
RBS and Natwest are separate banks not simply brands and Natwest Group isn't a bank.

Credit card books can be reallocated or sold between group companies relatively easily, we've seen this happen recently with JLFS being folded in to HSBC UK. Deposits are a bit more complicated because of FSCS implications.

Whether they'd want to do that is of course another thing altogether.

EDIT: and of course National Westminster Bank operates multiple brands under its license.

JLFS wasn't folded in to HSBC UK. John Lewis Financial Services was renamed HSBC legacy partnership in 2024 and is currently in liquidation.

The court documentation has would have clearly said if Scottish residents were getting transferred to Royal Bank of Scotland plc and rUK were going to National Westminster Bank plc. Only National Westminster Bank plc was listed - which is what that poster was asking.

The assetless company was renamed and is now being wound up, but that was only after the customers and loanbook (i.e. the entirety of "the business") had been transferred to HSBC UK:

https://forums.moneysavingexpert.com/discussion/6448185/john-lewis-change-again/p1

Banks can move customer books within their groups, JLFS -> HSBC UK being a good recent example. There are thesholds over which the courts must be engaged; AIUI the most common one being customer deposits over a certain amount (which clearly does not apply to loanbooks).

The Court transfer documentation simply doesn't reflect your opinion ; The Royal Bank of Scotland isn't involved in this transaction.

John Lewis Financial Services also wasn't folded into HSBC UK Bank; a few legacy accounts were transferred.

WillPS

Olenna said:

WillPS said:

Olenna said:

WillPS said:

Olenna said:

jackjones01 said:

The approvals been granted now by the high courts. Will everyone have a NatWest card for will people get an RBS card for example if you live in Scotland. 

There is no need to guess as the Court transfer documentation says National Westminster Bank plc.
RBS and Natwest are separate banks not simply brands and Natwest Group isn't a bank.

Credit card books can be reallocated or sold between group companies relatively easily, we've seen this happen recently with JLFS being folded in to HSBC UK. Deposits are a bit more complicated because of FSCS implications.

Whether they'd want to do that is of course another thing altogether.

EDIT: and of course National Westminster Bank operates multiple brands under its license.

JLFS wasn't folded in to HSBC UK. John Lewis Financial Services was renamed HSBC legacy partnership in 2024 and is currently in liquidation.

The court documentation has would have clearly said if Scottish residents were getting transferred to Royal Bank of Scotland plc and rUK were going to National Westminster Bank plc. Only National Westminster Bank plc was listed - which is what that poster was asking.

The assetless company was renamed and is now being wound up, but that was only after the customers and loanbook (i.e. the entirety of "the business") had been transferred to HSBC UK:

https://forums.moneysavingexpert.com/discussion/6448185/john-lewis-change-again/p1

Banks can move customer books within their groups, JLFS -> HSBC UK being a good recent example. There are thesholds over which the courts must be engaged; AIUI the most common one being customer deposits over a certain amount (which clearly does not apply to loanbooks).

John Lewis Financial Services also wasn't folded into HSBC UK Bank; a few legacy accounts were transferred.

Their entire book was transferred.

Olenna said:

The Court transfer documentation simply doesn't reflect your opinion ; The Royal Bank of Scotland isn't involved in this transaction.

It's a matter of fact, not opinion, that Natwest could then transfer the transferred card accounts to RBS, if they chose to.

It's an opinion we both share that they will probably not do that.