Sainsbury’s rebrands financial services offering

Sainsbury’s has rebranded its financial services arm as it seeks to simplify its offering to customers.

Sainsbury’s will now partner with specialist providers to offer products such as insurance and credit through the new Sainsbury’s Money brand.

The Sainsbury’s Bank brand has been retired and no longer holds banking permissions.

The latest change came after the supermarket sold its core banking products to NatWest in June 2024, making a new agreement with the bank in April to deliver a Nectar credit card with instant access savings. It also sold its ATM business, Argos card portfolios, travel money business, and moved its insurance customers to Allianz policies.

Bláthnaid Bergin, Sainsbury’s Chief Financial Officer, said: “This transition means we’re now able to focus all our time and resources going forward on growing our core retail business, delivering great quality and value, week in week out.

“This is an important step forward for Sainsbury’s. We’ve moved from being a bank to a financial services provider that works with specialist partners to bring our customers simple, great value products that fit around how they live and shop.

“We’re proud of how we’ve supported customers through this transition, and excited about the role Sainsbury’s Money will play in the future.”