M&S Premium Current Account

  • Exclusive M&S benefits.
  • Access to an arranged overdraft that suits your needs at account opening (subject to status). Interest rates apply.

For just £10 a month

We are temporarily unable to process new M&S Premium Current Account applications. The exclusive M&S benefits are currently available with the M&S Premium Club.

Temporary overdraft support

If you continue to be or reasonably expect to be affected financially by the Covid-19 pandemic and you're experiencing a reduction in your income and/or an increase in your outgoings, you can apply for temporary arranged overdraft support on your account(s) for three months. To do this please complete the overdraft support form. You can apply for support until 31 October 2020.

If the overdraft support is applied, we temporarily won't charge interest on the first £500 of arranged overdraft borrowing. Normally we charge interest on arranged overdraft borrowing over £250. Additionally, we'll temporarily charge 19.9% EAR (variable) for any arranged overdraft balances above £500. The normal rate of interest for overdraft borrowing is 39.9% EAR (variable). Once the 3 months completes the standard 39.9% EAR (variable) will then be charged for any arranged overdraft balances above £250.

Find out more information in our FAQs

Representative example: 0% EAR variable on the first £250, 39.9% EAR variable on anything above that, giving a representative rate of 30.5% APR variable (assumed arranged overdraft £1,200).

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.

These are temporary measures and do not change the account and overdraft contractual terms and conditions, which remain the same.

No interest-free amount applies to Additional Accounts.

Did you know we give customers a choice of current accounts?

The M&S Current Account is a simple, straightforward current account with no monthly fee.

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

To open any of our accounts, a new customer will need to provide us with the documents and information set out in our Keeping you safe page. We may request additional information or documents in individual cases.

You can open an account:
without visiting a branch Yes
where a visit to a branch is required, without an appointment In some cases
by sending us documents and information electronically In some cases
by post No

Features and benefits

Exclusive rewards

A variety of seasonal gifts including £40 a year in M&S vouchers for clothing and homeware, £45 worth of treats and delights vouchers and a birthday gift e.g. afternoon tea worth £10.

48 hot drinks vouchers worth £132

You’ll never need an excuse to treat yourself to an indulgent mid-shop coffee stop in the M&S Café with 48 hot drinks vouchers per year. Your vouchers will arrive in the post every 3 months.

M&S Loyalty Scheme

Earn one point for every £1 you spend at M&S on your M&S Debit Card and triple points for every £1 you spend at M&S on your M&S Credit CardFootnote 1. View rewards for more details. Representative 19.9% APR variable.

Arranged overdraft

Available at account opening (subject to status). The first £250 of any arranged overdraft is interest free. Overdraft interest is charged at 39.9% EAR variable on all balances over £250 and up to any arranged overdraft limit.

M&S Visa Debit Card

Our Visa debit card can be used at over 38 million locations in over 200 countries and it comes with contactless technology built in.

M&S Banking App

Quickly keep track of your current account spending on the go with this easy to use app. Device restrictions apply.

Representative example: 0% EAR variable on the first £250, 39.9% EAR variable on anything above that, giving a representative rate of 30.5% APR variable (assumed arranged overdraft £1,200).

The M&S Premium Current Account is subject to status and account conduct. You must be aged 18 or over. The M&S Premium Current Account is automatically renewed monthly.

Footnote 1[1] If you’re an M&S Credit Card customer you’ll earn 1 point for each £1 spent in M&S. As an M&S Premium Current Account customer you’ll earn an additional 2 points for each £1 spent in M&S (total of 3 points). As an M&S Premium Current Account and M&S Credit Card Reward Plus customer (still within your introductory period) you will earn 2 points for each £1 spent as an M&S Credit Card Reward Plus customer, along with an additional 2 points as an M&S Premium Current Account customer (total of 4 points for each £1 spent). At the end of your introductory period you will revert to earning 3 points for every £1 spent in M&S as standard for M&S Premium Current Account customers.


Can I switch my account on a date that suits me?

Yes, you can select and agree a date with your new bank or building society and the process will start 6 working days before that date. Working days are Monday to Friday, excluding bank and public holidays.

What is the Current Account Switch Guarantee?

The guarantee sets out the key benefits of the service and specifies that you will be refunded any charges and interest incurred on your old or new bank account as a result of a failure of the service. All banks and building societies that display the Current Account Switch logo offer the Current Account Switch Service and abide by the guarantee.

How does the M&S Bank Debit Card work with Sparks?

Use your M&S Debit Card and Sparks card together when you shop at M&S and earn even more rewards.

How has Sparks changed?

Sparks has become simpler and more rewarding. Points have been removed and exciting new benefits have been introduced instead, like the chance to get surprise treats every time you shop. Sparks may have changed, but your M&S Debit Card points haven’t. You'll still continue to collect points every time you spend at M&S on your M&S Debit Card and receive your M&S reward vouchers every three months.

For more information about Sparks visit the join sparks page.

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AER is the annual equivalent rate. This is the interest rate you would receive if interest was paid and added to your savings on an annual basis. Gross is the rate of interest if interest were paid and not compounded each year. Interest rates correct as at 15 November 2019. EAR is the effective annual rate.

Calls are recorded.

Learn more about the Financial Services Compensation Scheme(FSCS)