The launch of Sainsbury’s Bank
A Sainsbury's Bank case study

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Page 5: Customer benefits

Sainsburys Bank 4 Image 5This case study has already indicated the synergistic benefits to Bank of Scotland and J. Sainsbury plc of their joint venture. An important part of the synergy which should not be overlooked, however, is the benefits to the consumer. Most people do the bulk of their weekly shopping at their favourite supermarket so it makes sense that customers would also consider using the financial products offered by that supermarket.

In line with the longer opening hours provided by supermarkets, Sainsbury’s Bank offers 24-hour telephone banking - providing customers with greater flexibility and convenience. Indeed, the more customers bank with Sainsbury’s, the bigger the discounts they get on their shopping.

A good example of the way in which customers benefit is through the use of a Classic or Gold Visa Card which are the only two credit cards which earn Sainsbury’s Reward Points whenever and wherever a customer uses them. The Sainsbury’s Bank Classic Visa card, of course, entitles users to all of the benefits of Visa membership, i.e. they are welcomed at over 13 million outlets around the world and are offered:

  • up to 50 days interest-free credit
  • up to £750 discount on package holidays from most ABTA tour operators
  • cash from bank counters and 270,000 cash dispensers worldwide.

In addition, users are able to:

  • double their Reward Points at any Sainsbury’s, Savacentre store or Sainsbury’s petrol station when they use their Classic or Gold Visa Card with their Sainsbury’s Reward Card - i.e. an additional Reward Point for every £1 spent
  • earn one Reward Point for every £1 they spend on their Classic or Gold Visa Card at Homebase
  • earn one Reward Point for every £2 they spend on their Classic or Gold Visa Card at any other retail outlet.

Each month, Reward Points earned at Sainsbury’s Group stores and petrol stations are transferred to the card holder’s Reward Points balance. The points can then be exchanged for Reward vouchers which can be spent on a future visit to Sainsbury’s, Savacentre or Homebase.

Sainsbury's Bank | The launch of Sainsbury’s Bank