Financial Services Compensation Scheme (FSCS)

Who owns M&S Bank?

M&S Bank is a trading name of Marks & Spencer Financial Services plc. M&S Bank is part of the HSBC Group. M&S Bank launched in 2012 on the foundations of M&S Money, which was established in 1985 as the financial services division of Marks and Spencer plc. Today, M&S Bank operates as a joint venture arrangement between HSBC and Marks & Spencer, however, M&S Bank has its own banking licence and its own Board.

Am I protected by the Financial Services Compensation Scheme?

M&S Bank is covered by the Financial Services Compensation Scheme (FSCS). The FSCS can pay compensation to depositors if a bank is unable to meet its financial obligations. Most depositors are covered by the scheme. In respect of deposits, an eligible depositor is entitled to claim up to the current FSCS limit for deposits. The FSCS deposit limit relates to the combined amount in all the eligible depositor’s accounts with the bank, including their share of any joint account, and not to each separate account. M&S Bank is a trading name of Marks & Spencer Financial Services plc. Customers who hold deposits with M&S Bank (under one or both trading names) are eligible for one claim of up to the FSCS deposit limit.

The FSCS also cover a wide range of other financial products and services such as investments, pensions, financial advice, insurance broking, mortgage advice and arranging. Different compensation limits and eligibility requirements will apply.

For further information about the scheme (including the current limits, amounts covered and eligibility to claim) please refer to the FSCS website, call the FSCS on 0207 741 4100 or 0800 678 1100, or read the below documents.

A guide to the Financial Services Compensation Scheme

UK FSCS Information Sheet and Exclusions List

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