NatWest issues warning to customers whose bank balance has hit certain amount NatWest began to take on new customers, who were originally with Sainsbury's Bank, last week, after a major takeover. NatWest issues warning to customers whose bank balance has hit certain amount NatWest has issued a key update for 1.8 million customers who are being transferred to them by a rival bank. NatWest began to take on new customers, who were originally with Sainsbury's Bank, last week, after a major takeover. It means of Sainsbury’s Bank’s personal loans, credit cards, and savings accounts will now be carried over into NatWest. But NatWest says customers that they will see no immediate changes to their account. ‌ The bank stated: "There will be no immediate change to how customers use and access their account from May 1, 2025, if the proposed transfer is approved." ‌ READ MORE Six driving law changes in May set to affect millions of drivers But the bank also had a warning for customers whose bank balances are over a certain threshold. It said: "However, as their savings account will transfer to NatWest, customers' maximum FSCS protection will be £85,000 per eligible person across all savings and current accounts they have with Sainsbury’s Bank, NatWest and Ulster Bank Northern Ireland from May 1, 2025. Article continues below "As a result, customers may need to make changes so their money continues to be protected by the FSCS." The NatWest deal does not include certain assets, such as the commission income business of Sainsbury’s Bank or ATMs, insurance and travel money or Argos Financial Services “It’s no surprise the market has given the thumbs up to Sainsbury’s disposal,” the AJ Bell investment director Russ Mould said. “The supermarket has been on a roll over the past few years with its strategy of focusing primarily on food, and removing any distractions elsewhere in the business could help to oil the wheels.” Clive Black, the head of consumer research at Shore Capital, said the deal was “another good move” by the Sainsbury’s chief executive, Simon Roberts. “All in all, we welcome the announcement that Sainsbury has disposed of its core banking business, and at a pace that is faster than we originally anticipated … drawing to a close an adventure that had lofty ambitions to be a challenger bank that was thwarted by regulators, technocrats and the power of incumbents.” Article continues below Natwest boss Paul Thwaite said: “This transaction is a great opportunity to accelerate the growth of our retail banking business at attractive returns, in line with our strategic priorities.”