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MSE News: M&S to offer current accounts in banking push
Former_MSE_Helen
Posts: 2,382 Forumite
"Marks & Spencer has announced plans to open 50 bank branches in the next two years ..."
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I read on the BBC site that M&S Money is 100% owned by HSBC with profit shariing with M&S. So how will this actually differ from HSBC offering?
in fact from the M&S Money site
2004
Marks & Spencer sold M&S Money to HSBC, one of the world's largest banking and financial services organisations with over 9,500 offices in 76 countries and territories. Marks & Spencer and HSBC entered into a 50:50 profit sharing partnership.0 -
This is good news, ive got an M&S Credit Card. i hope they make there own bank and move everything away from and don't rely on HSBC i really like m&s money, would go for a currect account with them!0
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personally I think any extra competition in the banking sector is always welcome0
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This is good news, ive got an M&S Credit Card. i hope they make there own bank and move everything away from and don't rely on HSBC i really like m&s money, would go for a currect account with them!
M&S Money is HSBC?
Without them they have no cash, no FSA licence, essentially no company.0 -
Its not just a Current Account ... its an M & S current account.
Banking has never been so sexy.0 -
Might haven to register an interest especially if they would be open 7 days a week.0
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As others have pointed out, all they're really doing is sticking HSBC branches into M&S stores with an M&S sign above the counter. No new competition at all IMO0
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As others have pointed out, all they're really doing is sticking HSBC branches into M&S stores with an M&S sign above the counter. No new competition at all IMO
I disagree - First Direct are a branch of HSBC and they provide competition
It appears that The M&S Branches and accounts will provide a different account range , otherwise there would be no need to delay launching the current account until later in the year
I doubt that these accounts will be serviceable using the HSBC internet banking platform
I doubt that the M&S offering will operate in the same manner as the previous "Midland at Morrisons" operationHi, we’ve had to remove your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE ForumTeam0 -
Dr_Cuckoo3 wrote: »I disagree - First Direct are a branch of HSBC and they provide competition
I feel like coining a new saying now - "competition is in the eye of the beholder".
Not disagreeing with you at all, quite the contrary, I think you are right, FD is a formidable competitor, going by postings on here, and surveys such as the recent Which? survey into savings accounts.
I love that FD can offer an 8% Regular Saver but find nothing else attractive about them. If M&S do something equally innovative, they might attract my custom. Show us your cards, M&S!0 -
M&S branches will be open during store opening hours - finally a bank open at weekebds and into the evening (larger stores); where do I sign!0
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