Sainsbury's has revealed what will happen to cash machines as it sells the bulk of its banking business to Natwest
Sainsbury's has issued a new update amid a major deal with Natwest which will see the banking giant take on the retailer's main banking services. The retailer is selling its banking services in order to focus on its retail business.
Sainsbury's said it has agreed to sell its ATM machines to operator NoteMachine. The firm will take over the management of around 1,370 of Sainsbury's cash machines, which are located at stores across the country.The retailer confirmed that all of the machines will stay open and in their current place, meaning people will still be able to access the free-to-use cash service outside supermarkets and smaller convenience stores.
Simon Roberts, chief executive of Sainsbury’s, said: “We are really pleased that we can keep offering our customers free access to cash at all of our existing locations while also simplifying our banking business and reducing our costs.It comes as Sainsbury’s is selling the bulk of its banking business - including personal loans, credit card balances and customer deposits - to Natwest after a deal was agreed earlier this year. The transition is set to be completed in the first half of 2025.
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