The retail giant Marks & Spencer has released the details of its latest banking venture; the Premium Current Account.
Account holders will need to pay a monthly fee of £20, in return for a packaged account offering benefits such as worldwide travel insurance, M&S shopping vouchers and loyalty points. A savings account paying a rate of 6.00% is also part of the package.
The account is also available without the insurance benefits for a lower fee of £15.
Customers can pre-register with immediate effect for both versions of the account, ready for launch in the autumn.
Marks & Spencer recently announced plans to open in store banks, as part of its 'new fashioned banking' drive. These will offer customers the convenience of banking while they shop, including at the weekend and in the evenings.
The retailer currently offers savings, credit card and loan products under the Marks & Spencer Money brand.
Compare current accounts
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