M&S launches in-store bank at Handforth Dean

RETAIL giant Marks & Spencer has opened the first of its new in-store branches in the region at its Handforth Dean flagship.

The company announced in June that it would ramp-up its efforts in financial services by opening 50 branches in its key stores over the next two years. The first branch opened last month at Marble Arch in London.

The branches will offer current accounts with a range of benefits in exchange for an annual fee. Unlike traditional high street banks, the M&S branches will mirror store opening hours, including evenings and weekends.

M&S Bank at Handforth Dean opened its doors on Wednesday and was launched by Colin Kersley, chief executive of M&S Bank, and manager, Wendy Livesey.

Mr Kersley said M&S already had a well-established and respected money lending operation through its M&S Money arm, which provides credit cards, loans and savings to more than three million customers.

“We’ve been in business for 27 years (through M&S Money),” he said. “It’s a natural thing to do to go to current accounts and banking. We would have been a bank whatever (the economic circumstances).

“And one of the reasons for this launch is that M&S is one of the most trusted brands in the UK.”

M&S Bank, which is being run with HSBC, will offer customers services including text messaging when an account holder is overdrawn and internet banking services.

The Handforth Dean branch has created 15 jobs. It offers customers a new pager service – meaning they won’t have to queue and wait for an adviser to become available.