M&S Bank details revealed

Published on

M&S Bank
A mock-up of its Chester 'branch'

Marks & Spencer has confirmed details of its summer launch for M&S Bank.

Over the next two years, 50 M&S Bank branches will open in M&S stores across the UK, with the first branch scheduled to open in July at Marks & Spencer’s flagship Marble Arch store.

It claims branches will be open “twice as long” as traditional high street banks, mirroring M&S store opening hours and enabling customers to bank while they shop, seven days a week. Customers will also have 24 hour access to online banking, as well as UK based call centres.

A current account will be made available from autumn 2012 and customers can pre-register their interest in July, mortgages will be offered by the bank at a later date.

M&S Bank is being backed by HSBC. The launch will create 500 new UK roles by the end of 2013. This includes 400 customer-facing roles in branches across the country and around 100 roles at the company’s Chester based head office.

“M&S is one of the most trusted brands on the UK high street and we’ve achieved this by continually listening and responding to the needs of our 21 million customers,” said Marc Bolland, chief executive at Marks & Spencer .

“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.”

Joe Garner, head of HSBC in the UK, added: “This is our most significant innovation in retail banking since we launched First Direct over 22 years ago. It is concrete evidence of HSBC increasing innovation, competition and investment in the UK.”

COMMENT ON MORTGAGE SOUP

We want to hear from you!
Leave a comment and get the conversation started.
You need to register to post, so please login or sign up below.

Latest articles

Commuter belt triumphs as Chesham and Amersham top UK retirement wellbeing index

Chesham and Amersham, a Buckinghamshire constituency more commonly associated with the commuter belt than...

URGENT! AI Is coming for you. Or maybe not…

I’ll try to make this as straight to the point as I can. The...

TMG Mortgage Network opens new head office and makes key hire

TMG Mortgage Network has underlined its ambitions for long-term growth with the opening of...

Millbrook Business Finance appoints operations director

Millbrook Business Finance has appointed Sally Chesterton as operations director. Chesterton (pictured) brings more than...

Nationwide cuts residential mortgage rates

Nationwide has announced a fresh round of rate reductions across its mortgage range, with...

Latest publication

Latest opinions

URGENT! AI Is coming for you. Or maybe not…

I’ll try to make this as straight to the point as I can. The...

Mind the gap: Can mortgage advice change the game for protection?

Many industry insiders still talk about the UK protection gap and how vast it...

Navigating HMO and MUFB complexity with confidence

Historically, larger Houses in Multiple Occupation (HMOs) and Multi-Unit Freehold Blocks (MUFBs) have often...

Why we shouldn’t wait for the FCA to act on later life lending

It might feel odd to be talking about a new year, when we’re barely...

Other news

Commuter belt triumphs as Chesham and Amersham top UK retirement wellbeing index

Chesham and Amersham, a Buckinghamshire constituency more commonly associated with the commuter belt than...

URGENT! AI Is coming for you. Or maybe not…

I’ll try to make this as straight to the point as I can. The...

TMG Mortgage Network opens new head office and makes key hire

TMG Mortgage Network has underlined its ambitions for long-term growth with the opening of...