M&S current accounts are now closed

Our M&S current accounts are now closed and any balance on the account is now frozen.

If your current account (in sole name) has a credit balance, and you have an Everyday Savings Account (ESA in sole name) with us, we will transfer the balance to that account. If the balance is less than £5, this will be given to MIND charity unless you have instructed us where to return the money to. If your balance is greater than £5, this will be returned to you as a cheque which will be sent out shortly.

If your account has a debit balance, you'll need to contact us to repay this balance by 30 September 2021. If your outstanding balance is not repaid by this date, your arranged overdraft will be terminated and limit removed. This could negatively impact your credit rating. Please call us on 0345 900 0900 if you need assistance.

How do I make a payment into my account?

In order to repay your overdrawn (debit) balance, please call us so that we can take a debit card payment over the phone and arrange for your account to be closed.

What happens if I don't repay the debit balance on my account?

If you are unable to repay the outstanding debit balance by the 30 September, your arranged overdraft will be terminated and the limit will be removed, which could have a negative impact on your credit file. If you are struggling to repay your overdraft, please call us on 0345 300 1312. Our financial support team will then continue to work with you to agree how you can repay the outstanding balance.

I can't afford to repay my outstanding debit balance - what options do I have?

You will need to speak to a member of our Financial Support team to discuss next steps.

We understand how difficult things can be if you're struggling financially. If you're not sure what to do, you should get help as soon as possible. For free, independent advice, you can contact these organisations:

  • StepChange Debt Charity – call them on 0800 138 1111 or visit stepchange.org
  • Citizens Advice – call them on 03444 111 444 or visit citizensadvice.org.uk
  • The Money Advice Service – for free, impartial information and tools to help you manage your money, call them on 0800 138 7777 or go to moneyadviceservice.org.uk
  • Advice UK – call them on 0300 777 0107 or visit adviceuk.org.uk
  • Advice NI (if you live in Northern Ireland) – call them on 0800 028 1881 or visit adviceni.net
  • National Debtline – call them on 0808 808 4000 or visit nationaldebtline.org

I had money in my account that I can't access, where has my money gone?

If your balance is over £5, we will send you a cheque for the full credit amount in your account. If the balance is £5 or less we will give this to the charity MIND unless you have given other instructions. If you have a current account and Everyday Savings Accounts (ESA) in your sole name, we will transfer the credit balance to your ESA.

When will I receive my credit balance cheque?

The cheques will start to be despatched within 2 weeks of the account closing date.

Why are you closing all M&S Bank Current Accounts?

We regret that the M&S Current Account service closes to existing customers on 31 August, the change comes as we refocus our new product offering, which will see us offer new payment solutions for M&S customers, such as Club Rewards, our new rewards membership which launched recently.

Transaction history

Once you account is closed we'll email you a copy of your transaction history (free of charge) covering a period of up to five years. In most circumstances we'll email this to you within ten working days of your account closing.

If we don't hold a valid email address on record, please contact us, otherwise we won't be able to send you the information.

You can request the transaction history for an account closed within the previous five years. So, if once you've closed your account, you realise you need your transaction history, just get in touch with us and we'll be happy to help. We may ask you to send us identification documentation before we're able to respond to your request, however once we've received it, in most cases we'll issue statements by email within seven working days.

Please note that, for both payment transaction histories at account closure and up to five years after account closure, there may be exceptions that prevent us from providing this information. Please contact us for more information.

Important documents

M&S Banking Terms and Conditions

M&S Current Account closure information(PDF document)(opens in a new window)

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