CURRENT ACCOUNTS

Following a recent review of our products and services, we've made the difficult decision to close our current accounts. We know this news is likely to come as a disappointment and we want to apologise for any inconvenience it may cause you.

For more information on this, please select the option below which applies to your M&S current account.

How do I switch my current account to another provider?

You will need to open a current account with a new provider. Switching your account is a simple process. The Current Account Switch Service was created to make things easy.

CURRENT ACCOUNT SWITCH SERVICE

This is a free service, which enables you to switch your current account from one participating bank or building society to another. It's been designed to be simple, reliable and hassle-free and is backed by the Current Account Switch Guarantee.

How does it work?

The Current Account Switch Service guarantees to complete your switch within seven working days and means your new bank will switch all your payments and transfer your balance unless there is a debit balance on the account. In addition, they'll take care of closing your old bank account. There are over 40 UK banks and building societies signed up to the Current Account Switch Service currently, so there are plenty of options available.

Direct Debits and standing orders

The Current Account Switch Service transfers any existing payments and future dated payments to another current account and also automatically redirects any payments received in error.

Switching with an overdraft?

Don’t worry, you can still switch with an overdraft although you’ll need to ensure your new bank or building society is willing to offer you an overdraft facility which is the same or greater than your overdraft balance before switching. There are plenty of comparison tools available online which help you weigh up a range of accounts and providers from across the market to find the one most suitable for you.

If you cannot get an overdraft with another provider and can't afford to pay off your overdraft before the account is closed in August, then please contact us to discuss on 0345 900 0900.

To find out more, head to currentaccountswitch.co.uk (link opens in a new tab) where their guide will walk you through the process – from choosing a new bank or building society, to what you need to do to get ready for the switch and what will happen on your switch date.

We are required to publish the Financial Conduct Authority Service Quality Information for personal current accounts.

M&S current account support

Arranged overdrafts are there if you need a little extra money to tide you over every now and then. You shouldn't use an arranged overdraft for long-term borrowing. So, when you're overdrawn, you should make regular payments into your account.

If a change in your circumstances means you're unable to make regular payments it's important you contact us as soon as you recognise you're in difficulty, so we can work with you to understand your current financial situation and find an appropriate solution.

Find out more about M&S current account support

How does our overdraft compare?

You can compare our overdrafts with other ways of borrowing by looking at the annual percentage rate (APR). APR is the cost of borrowing over a year and lets you compare the costs with other credit products.

No interest-free amount applies to Additional Accounts.

Overdraft Tools

Our overdraft calculator will help you understand the costs of borrowing using an M&S current account overdraft.

Accounts subject to status and account conduct. You must be aged 18 or over.