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Sainsburys Bank Reviews

Ratings based on 159 reviews Last review 5 days ago
3.10 / 5Good overall rating

Sainsbury's was the first major British supermarket to open a bank. Smart Money People is the place for Sainsbury's bank reviews. Read and write reviews to help increase trust and transparency in Financial Services.

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Your Sainsburys Bank Reviews (159)

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15th April 2019

Great Card - poor admin

0% Interest for 30 months plus a high limit is really useful; the best I found. But their website is terrible, sadly. Hard work viewing transactions, and I've found statement reminders are a bit hit or miss, plus the statements themselves aren't often...

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0% Interest for 30 months plus a high limit is really useful; the best I found. But their website is terrible, sadly. Hard work viewing transactions, and I've found statement reminders are a bit hit or miss, plus the statements themselves aren't often published on time. Could do with a massive overhaul, and/or an app.

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6th April 2019

Not very good

Tried to swap insurance when I bought a new car (similar to my old) they just said no cover??? Can’t explain why but if you fit a tracker it might help? What a load of ****. Good job I left myself time to get a policy from one of the better companies!

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Tried to swap insurance when I bought a new car (similar to my old) they just said no cover??? Can’t explain why but if you fit a tracker it might help? What a load of ****. Good job I left myself time to get a policy from one of the better companies!

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28th March 2019

Not the lowest rate as advertised!

The loan application is simple enough, you fill in some details and they give you a likely interest rate (in my case 2.9% on £7500). You then proceed and they carry out a credit check leaving a, "mark" on your credit file and come back to offer an ...

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The loan application is simple enough, you fill in some details and they give you a likely interest rate (in my case 2.9% on £7500). You then proceed and they carry out a credit check leaving a, "mark" on your credit file and come back to offer an interest rate of over 7% (somewhat higher than indicated!). I have no outstanding debt, i am mortgage free, I earn over 40k a year i have never defaulted on a payment for anything. Of course you then become wary of applying for a loan from another company because of potential damage to your credit rating. Anyhow i applied to first direct, who did not claim to offer interest rates at 2.9 % and despite the credit check carried out by Sainsburys they offered me a loan at 5%. Still higher than id like but a lot better than Sainsburys and without being misleading. So in summary i would not bother with Sainsburys and as far as their Nectar card goes, I've some good ideas as to what they can do with that, but i don't think its appropriate to type that here.

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28th March 2019

Rip Off

Sainsburys tempt you in with a low interest rate so they are at the top of the best deals list, then when you apply its possible dont get the low interest rate you thought you might be getting (and was tempted with in the first place) and you dont...

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Sainsburys tempt you in with a low interest rate so they are at the top of the best deals list, then when you apply its possible dont get the low interest rate you thought you might be getting (and was tempted with in the first place) and you dont know this until you apply, then if you dont like it your reluctant to try elsewhere because you have already just applied for credit and might not get accepted. I am trying to pay my loan off early (had it 2 months) and the interest is ridiculous, out of the £197.00 per month that I pay £57.00 is interest (over 25% of the repayment) then when you try to pay the loan off early they charge you 58 days of interest on top which in my case is around £100 to add to the early repayment. so all in all I will have made monthly repayments totalling to £592.00 over 3 monthly payments and still have to pay £9,831.50 to close my account (approx £168.00 difference between the original loan value/so everything else is interest. Don't get suckered into taking a loan from Sainburys unless your lucky enough to win the raffle and actually get the interest rate they are tempting you with. (which of course you wont know until you actually apply and create a footprint on your credit search)

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5th February 2019

Catch-22 on Home Insurance renewal

Took out a Home Insurance Policy with Sainsbury's Bank a couple of years ago, in loyalty to the well run local supermarket , and the premium for the cover was reasonable. I renewed automatically last year, but this year the premium had gone up quite...

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Took out a Home Insurance Policy with Sainsbury's Bank a couple of years ago, in loyalty to the well run local supermarket , and the premium for the cover was reasonable. I renewed automatically last year, but this year the premium had gone up quite a bit. I tried to log on to review the policy, but system said my details were invalid. Tried password reminder, but it claimed log in name was wrong. Tried re-registering, but system said to log on with existing details. Tried phoning help but got transferred from button push to button push and no human being answering after 11 minutes. Asked myself do I want this kind of home insurance? - then changed to Direct Line for same cover at about 60% of the premium, and 95% less hassle.

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19th January 2019

Not appreciate they customers.

Been with them for 1 year. Next year renewal price was twice bigger than original. While checking on their website for pet insurance the price was cheaper than what they was asking for renewal. When i contact customer service regarding this just been...

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Been with them for 1 year. Next year renewal price was twice bigger than original. While checking on their website for pet insurance the price was cheaper than what they was asking for renewal. When i contact customer service regarding this just been told its discount for new customer and they will not apply this discount for me. Completely dont appreciate they customer for staying with them. Havent done any claims with them so nothing to say about it, but they customer services let me down, not going to come back to them anymore.

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8th January 2019

Worse experience ever

Worse service ever. We filled in all paperwork months before our mortgage was due to end and got an offer more than 1 month before the due date. Yet, their solicitors (Optima legal) did not act on time and we have already paid £240 excess in interest. ...

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Worse service ever. We filled in all paperwork months before our mortgage was due to end and got an offer more than 1 month before the due date. Yet, their solicitors (Optima legal) did not act on time and we have already paid £240 excess in interest. They don't answer emails or phone calls and don't take responsibility for their delays. We were moving banks to pay less and we are actually paying more. This is being the worse experience we ever had with a bank. Our mortgage advisor has put a formal complaint against Optima Legal, yet they cannot care less as keep delaying the completion, even after acknowledging they have all the documents. Unprofessional and unethical making clients pay for not being able to do their work on time.

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4th January 2019

AVOID - NOT GOOD

WARNING - do not use Sainsburys bank for your car insurance if there is any chance you may want to cancel part way through the year. I cancelled with 3 months left to go anticipating saving some money after Christmas - this was not the case. I ended...

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WARNING - do not use Sainsburys bank for your car insurance if there is any chance you may want to cancel part way through the year. I cancelled with 3 months left to go anticipating saving some money after Christmas - this was not the case. I ended up paying the remaining amount in one lump sum less £25. If I had realised this I wouldn't have bothered cancelling and would have left the car insured. After speaking to them for clarification when the paperwork came through they confirmed this was the case and I could not reinstate the policy. What a farce! I now know why my 6 other cars are all insured with Direct Line or Lancaster. You may pay a bit more overall but the service is second to none and never had any problems with making amendments to policies. DO NOT USE

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26th December 2018

20th century processes

Everything is slow and clunky. Paper forms need sent off!!! It’s 2018 for goodness sake. We were in a hurry for the cash so I phoned to check it was all going ok. ‘Yes all fine - 2/3 working days and you will have the money’ was the answer. Then 8 days...

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Everything is slow and clunky. Paper forms need sent off!!! It’s 2018 for goodness sake. We were in a hurry for the cash so I phoned to check it was all going ok. ‘Yes all fine - 2/3 working days and you will have the money’ was the answer. Then 8 days later dropped through the door. Our application fell at the final hurdle because I had applied in my given name ‘Joe Bloggs’ but the name on the bank statement I sent away included my middle name ‘Joe William Bloggs’. I would have to start from scratch.
Well I went elsewhere and instead Sainsbury’s will have to start from scratch at attracting my custom back to ANY of their businesses. Crazy. Avoid.

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12th November 2018

Incompetent bank

They make it very difficult to use their online banking service - when it comes to trying to get your money out. Several unnecessary validations are needed that mean your instant access account is not really instant access it's a month's notice...

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They make it very difficult to use their online banking service - when it comes to trying to get your money out. Several unnecessary validations are needed that mean your instant access account is not really instant access it's a month's notice account. Very dodgy bunch. Stay well clear to avoid stress.

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23rd October 2018

Very fast and efficient

I applied for a car loan 9k on line at the 2.8% on a Saturday after completing a non complicated form and some security questions I was advised I had been accepted and could sign agreement electronically (much easier) Monday morning the money was in...

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I applied for a car loan 9k on line at the 2.8% on a Saturday after completing a non complicated form and some security questions I was advised I had been accepted and could sign agreement electronically (much easier) Monday morning the money was in my account full contract and details of the loan were sent to me and confirmation email with cooling off period.
I had read reviews regarding time it takes and changed rate, I had a perfect hassle free fast experience.

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22nd October 2018

Have stopped getting Nectar points fro my spending

Have had a SB Nectar card for several years and got a monthly credit of points for usage of the card. In July they changed the design of the statements and I stopped being credited with my points. The points reconciliation was missing from the July &...

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Have had a SB Nectar card for several years and got a monthly credit of points for usage of the card. In July they changed the design of the statements and I stopped being credited with my points. The points reconciliation was missing from the July & August statements and then reappeared in September but did not make much sense. I called them, had to wait a long time to get through to a person and then was told there was a problem which they were sorting out. A month later and I am now missing 4 months worth of points. Very poor service from a reputable company like Sainsburys.

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16th October 2018

Cancelled policy without notice when notified of building work

I notified Sainsbury's home insurers that I was about to start building work which I had done previously with no problem. They took details and said I would be contacted in 48 hours if any problem. Work commenced 15 days later I had a call to say they...

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I notified Sainsbury's home insurers that I was about to start building work which I had done previously with no problem. They took details and said I would be contacted in 48 hours if any problem. Work commenced 15 days later I had a call to say they were cancelling the policy due to the building work. There was no discussion about extra premiums or any offer at all. I wasn't even offered to let me cancel which would have been fairer, because now I have to inform insurers I have had a policy cancelled even though I have done nothing wrong. They even had the nerve to infer they were doing me a favour as they would waive the cancellation fee, I am not cancelling they Are!
I was left having to find a new insurer mid building work and having had a policy cancelled by Sainsbury's which had led to a very hefty premium. I guess that because they cancelled my policy future premiums will also be higher and all because I was honest and said I was having work done. I find the way this has been handled is appalling and will be advising anyone who will listen not to purchase home insurance from Sainsbury's

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