M&S Bank brings back its most rewarding current account offer

19 Jul, 2016

M&S Bank is bringing back its most rewarding current account offer; from today (Tuesday 19th July), new M&S current account customers can enjoy up to £220 to spend in M&S if they switch and stay with M&S Bank. 

Customers who switch to one of the M&S current accounts using the Current Account Switch Service (CASS) with two active Direct Debits, will receive a £100 M&S gift card. In addition, customers depositing £1,000 a month into their account will also receive £10 to spend at M&S each month for the first year.  

Customers switching to the M&S current accounts will also have exclusive access to a high rate monthly savings account with a rate of six per cent AER/ gross, customers can save between £25 and £250 a month, with the potential to earn over £96 in interest over a 12 month period.

M&S current account customers also earn loyalty points on their M&S debit card spend, with one point earned for every £1 spent in M&S (both in-store and online). Customers receive £1 in M&S vouchers for every 100 points earned; the equivalent of one per cent back in M&S vouchers. Points are automatically converted into M&S vouchers and sent to customers each quarter.

A spokesman for M&S Bank, commented: “We want to make banking with M&S as rewarding as possible, so we’re delighted to be able to welcome new customers with a £100 M&S gift card, and the potential to receive a further £120 in the first year they bank with us, plus access to a high rate savings account and debit card reward points.”

M&S current account customers also benefit from a transparent account structure with an automatic £500 overdraft, the first £100 of which is interest-free and the remainder is charged at 15.9 per cent EAR. The M&S Current Account has no overdraft fees and customers receive free text alerts as they approach their overdraft limit.