M&S launches current accounts with 'new fashioned banking' push

The retailer is furthering its push into the financial services industry by tying premium current accounts into added M&S shopping benefits, as it seeks to build on the trust in the brand.

Creative from the press ads claim the current accounts have been created "with you in mind" and will offer the "same quality, service and trust you expect from M&S with your money".

The campaign features in titles including today's (26 September) Daily Mail.

Current accounts go live today and are currently available in 13 M&S branch locations, with plans to introduce the service to 28 branches by the end of the year.

Each M&S Bank branch will feature a pager service, so customers can shop or visit the M&S café while waiting for an appointment.

Customers have to pay a monthly fee of £15 for a premium account without insurance, or £20 for a premium account with insurance, which will include internet banking and a 24/7 call centre.

M&S Bank account holders are entitled to more than £500-worth of annual benefits, including vouchers, a birthday gift, and seasonal treats four times a year.

Customers will also receive loyalty points on debit card purchases made online and in-store at M&S, which will be automatically turned into vouchers and sent out every 12 weeks.

Colin Kersley, chief executive at M&S Bank, said: "Our customers have been pre-registering for the M&S premium current accounts since July.

"We understand that our customers want to bank at a time that suits them and our branches are open the same hours as M&S stores, including weekends."

Follow @mattchapmanuk

This article was first published on marketingmagazine.co.uk