LONDON (Alliance News) - Marks & Spencer Group PLC's bank has made a new current account available to customers, its first with no monthly fee.
In a statement, M&S Bank said customers who switch to its new current account will receive a GBP100 M&S gift card.
"A current account with no monthly fee is the natural next step for M&S Bank and we have seen significant interest in the M&S Current Account since announcing details in March. As such, we wanted to provide a registration facility which would enable customers to receive more information as soon as the account is available," Deputy Chief Executive Crawford Prentice said in a statement.
M&S Bank, the trading name of Marks & Spencer Financial Services PLC. In November 2004, HSBC Holdings PLC bought all the shares of Marks and Spencer Retail Financial Services Holdings Ltd.
M&S Bank operates as a joint venture between M&S and HSBC, but retains its own board.
By Samuel Agini; samagini@alliancenews.com; @samuelagini
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HSBC Holdings (HSBA)
Marks & Spencer (MKS)