M&S to launch in-store banking - Banking - News | moneyfacts.co.uk

News

Moneyfacts.co.uk News brings you the latest financial & economic news & reviews of the best products in the UK by our team of money experts.

M&S to launch in-store banking

M&S to launch in-store banking

Category: Banking

Updated: 14/12/2012
First Published: 08/06/2012

MONEYFACTS ARCHIVE
This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

Marks & Spencer has announced that it will be launching in-store banking this summer.

The high street retailer said it plans to open 50 branches over the next two years, which will create up to 500 jobs in the UK .

The first branch is scheduled to open in July at M&S's flagship Marble Arch store in London .

M&S has also revealed that customers will be able to open a current account from autumn this year, whilst mortgages will be offered at a later date.

The venture, known as M&S Bank, will add to the services already offered by M&S Money, which includes credit cards, savings accounts, unsecured loans and insurance products.

Sure to be an attractive proposition in terms of convenience, M&S Bank branches will mirror M&S store opening hours, meaning they'll be open twice as long as traditional high street banks, seven days a week.

"This bank will be built on M&S values; putting the customer at the heart of the proposition and delivering the exceptional service that sets us apart from the competition," said Marc Bolland, chief executive at Marks & Spencer.

The bank has said that in each branch there will be private meeting areas, self service banking points and a bureau de change. Customers of M&S Bank will also have access to online banking 24 hours a day, as well as UK-based call centres.

"We know loyal M&S customers will be genuinely excited by the prospect of banking with their favourite retailer. With over 25 years financial services experience, M&S Bank is the natural next step for M&S Money and will provide customers with a credible, alternative choice in the banking sector," added M&S Bank's new chief executive, Colin Kersley.

Find the best bank account for you - compare bank accounts

Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

 
Close