M&S Bank

M&S Bank

Marks & Spencer Financial Services PLC trades under the name M&S Bank. It is a UK-based retail bank, formed as the financial services arm of Marks & Spencer in 1985 as St Michael Financial Services. It was renamed M&S Money in 2003.

Reviews Rating
50%
Review Score
This figure is an average of the reviews score, taken from customer reviews and the overall rating of the bank.
56%
BankRank® Score
This figure is the average of the bank’s total sentiment score and the review scores.
Disclaimer
While we are independent, we might receive commission if you choose to click on certain links on our website.
CompareBanks
CompareBanks Expert
CompareBanks
Hello! We're CompareBanks and helping the UK to compare banks is our main mission. We're here to help whenever you're on the search for a new bank. Compare the market with in-depth and impartial reviews. Read opinions on bank accounts from people just like you. Not only do we compare banks, we also let you review and rate them to help others with your bank experiences. You can trust us to get you on the right track with the best bank for you.
Read More

Overview

First Glance

Marks & Spencer Financial Services PLC trades under the name M&S Bank. It is a UK-based retail bank, formed as the financial services arm of Marks & Spencer in 1985 as St Michael Financial Services. It was renamed M&S Money in 2003.

Contact Info

Address
51 Saffron Rd, Wigston LE18 4UL, UK
Phone
0800 997 996

About M&S Bank

Marks & Spencer Financial Services PLC trades under the name M&S Bank. It is a UK-based retail bank, formed as the financial services arm of Marks & Spencer in 1985 as St Michael Financial Services. It was renamed M&S Money in 2003.

The bank was sold to HSBC in 2004 in an effort to cut costs and return money to shareholders and has been operated by them since then. The name M & S Bank is licensed to HSBC by Marks & Spencer. Marks & Spencer and HSBC will share profits from M & S Bank until sometime next year.

St Michael Financial Services was launched in 1985 with a ‘chargecard’ store card. Marks & Spencer Unit Trust arrangement, a trust fund provider, was added in 1988. Marks & Spencer started opening in-store branches of M & S Bank in 2012.

M&S Bank Products and Services

M&S Bank offers a wide range of services:

  • Current accounts
  • Credit products
  • Savings products
  • Insurance
  • Mortgages

On opening, current account customers can have a minimum £500 overdraft facility (subject to status) and receive a £185 M&S Gift Card after 12 months. This gift card is automatically topped up with £5 each month if at least £1250 is paid into the account.

Loans are available between £1,000 and £25,000 over 12 to 84 months. Customers can estimate their own repayments using a calculator on the M&S Bank website. Mortgage customers can claim 30% off M & S homewares and furniture (not available for remortgages).

Security at M&S Bank

M & S Bank has several security and encryption systems in place to keep accounts secure.

M & S Bank is authorised by the Prudential Regulation Authority (PRA) and regulated by the Financial Conduct Authority (FCA) and the Prudential Regulation Authority.

Marks & Spencer Bank Contact Details

51 Saffron Road
Wigston
LE18 9FT

Telephone: 0800 997 996

Email[email protected]

Best M&S Bank Deals

Up to £220 when you switch to M&S Bank Up to £220 when you switch to M&S Bank M&S Bank
Key offer details Up to £220 Free in M&S Vouchers Marks & Spencer bank offer...

Have a question about M&S Bank?

Find answers in Q&As and ask your question

No questions yet. Be the first to ask one!

M&S Bank Reviews

No reviews yet. Be the first to write one