To keep your account up to date you must pay at least your loan or credit card minimum contractual
monthly payment.
If you usually pay the full or a fixed amount to your credit card you can
reduce what you pay to
the minimum monthly payment for a short period to keep your account up to date. Just get in touch.
What does arrears mean? Learn more about arrears.
Where your contractual monthly payments can be found:
M&S Personal Loan
Monthly payments are set out in your agreement
M&S Credit Card
We'll send you a statement each month showing the minimum payment for that month, if you've opted into paperless statements, you can view your statement within Internet banking or on the M&S Banking App.
Your contractual monthly payment is referred to as your minimum payment and is the smallest amount of your total balance that you need to pay each month to keep your account up to date.
M&S Budgetcard, Chargecard or Personal Reserve
If you hold an M&S Budgetcard, Chargecard or Personal Reserve we'll send you a statement each month showing the minimum payment for that month.
Can I adjust my monthly payments?
If you're paying the full or a fixed amount to your credit card and want to change this, you can do this by logging into Internet Banking and chatting with one of our agents. Otherwise please call us on 0345 600 5860. Lines are open 8am-8pm.
Your account will stay up to date if you make at least the minimum payment towards your credit card each month, but it will take you longer to clear your balance and may cost you more in interest if you only pay this amount. Find out more about persistent debt.
I'm unable to make my contractual monthly payment
If you’re unable to make your contractual monthly 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.
Please complete an Income and Expenditure Assessment
It's important that we understand your situation and work with you to find the right solution.
Alternatively, to talk to our specialist team about how we can best help you, you can use our 'Chat with us' service or call us on 0345 300 1312. Lines are open 8am-6pm Monday to Friday and 8am-4pm Saturday.
When you contact us
When you contact us, we may need to complete an affordability assessment.
We’ll ask you about your monthly income and outgoings such as salary, mortgage payments, rent, utility bills and outstanding balances with other lenders. We understand this can be an uncomfortable conversation but it's so we can help determine the best next steps for you.
When you choose to call us, you need to have this information to hand.
When you call us, please try to have your account number available.
If you’re struggling with multiple debts, each company will ask you to provide your income and expenditure details. You may want to consider seeking third party support to help you manage your debt.
I'm already receiving financial support from M&S Bank, but my circumstances have changed
If your circumstances have changed and you have an existing payment plan with us, it’s important you keep in touch so we can ensure your existing payment plan is still suitable.
Please complete an Income and Expenditure Assessment
It's important that we understand your situation and work with you to find the right solution.
Alternatively, to talk to our specialist team about how we can best help you, you can use our 'Chat with us' service or call us on 0345 300 1312. Lines are open 8am-6pm Monday to Friday and 8am-4pm Saturday.
When you contact us
When you contact us, we may need to complete an affordability assessment, if you haven’t already done this.
We’ll ask you about your monthly income and outgoings such as salary, mortgage payments, rent, utility bills and outstanding balances with other lenders. We understand this can be an uncomfortable conversation but it's so we can help determine the best next steps for you.
When you choose to call us, you need to have this information to hand.
When you call us, please try to have your account number available.
If you’re struggling with multiple debts, each company will ask you to provide your income and expenditure details. You may want to consider seeking third party support to help you manage your debt.
I have missed one or more of my contractual monthly payments
If you’ve missed a contractual monthly payment, and you’re starting to fall behind, we’re here to help.
Missing a payment may have a negative impact on your credit file, which can make borrowing in the future more difficult. You may also incur charges, which may make borrowing more expensive.
I have missed one of my contractual monthly payments, but I am able to make the payment.
If you’ve missed one of your monthly payments but you’re able to afford the payment, please make this as soon as possible. This may reduce the charges you incur and the impact to your credit file.
To make a payment on your:
M&S Personal Loan
Visit manage your loan for more details
M&S Credit Card
Visit ways to pay for more details
M&S Budgetcard, Chargecard or Personal Reserve
If you hold an M&S Budgetcard, Chargecard or Personal Reserve you can make your payment using your bank's online or automated telephone service.
You should quote our bank details, sort code 40-12-57 and account number 99001174, with your M&S card number or account number as a reference.
Alternatively, please call 0345 300 1312. Lines are open 8am-6pm Monday to Friday and 8am-4pm Saturday.
If you’re unable to make your contractual monthly 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.
Please complete an Income and Expenditure Assessment
It's important that we understand your situation and work with you to find the right solution.
Alternatively, to talk to our specialist team about how we can best help you, you can use our 'Chat with us' service or call us on 0345 300 1312. Lines are open 8am-6pm Monday to Friday and 8am-4pm Saturday.
When you contact us
When you contact us, we may need to complete an affordability assessment.
We’ll ask you about your monthly income and outgoings such as salary, mortgage payments, rent, utility bills and outstanding balances with other lenders. We understand this can be an uncomfortable conversation but it's so we can help determine the best next steps for you.
When you choose to call us, you need to have this information to hand.
When you call us, please try to have your account number available.
If you’re struggling with multiple debts, each company will ask you to provide your income and expenditure details. You may want to consider seeking third party support to help you manage your debt.
When and how will we contact you?
If you’ve missed a payment and it looks like you might be struggling with your payments, we may attempt to contact you.
SMS
If we have your mobile number, we might text you to ask us you to contact us. Our text messages may include links to our website and our contact details.
Phone
If we have your phone number, we might call you to discuss your situation and appropriate solutions based on your circumstances.
Automated call
We might use our automated payment service to contact you and ask you to make a payment. If you’re unable to make a payment, or would prefer to speak to someone to do this, you can follow the instructions provided by the service.
Letter
We’ll write to you to advise you if your account falls into arrears, and confirm the status of your account. If you’ve made a payment, or set up an agreement with us, you may still receive a letter from us.
Some of the letters that we send to you are sent as we're required by law to do so. For example, a notice of sums in arrears is a letter we have to send to you by law if you fall two or more payments behind. The wording used in these letters is prescribed by law, and it helps ensure you've been given certain information when you've fallen behind. We're required to continue sending you these notices even if you've told us about your current circumstances and we've made an arrangement with you about your payments.
Keeping your details up to date, will enable us to contact you quickly. Find out more about how to update your contact details.
