M&S bank offers £220 gift card spend for current account switchers

15th July 2016

New M&S current account customers can earn up to £220 to spend in M&S if they switch and stay with the bank.

Customers who switch to one of the M&S current accounts using the Current Account Switch Service (CASS) with two active Direct Debits will receive a £100 M&S gift card. In addition, customers depositing £1,000 a month into their accounts will receive £10 to spend at M&S each month for the first year.

Customers switching to the M&S current accounts will also have exclusive access to a high-rate monthly savings account with a rate of 6%AER gross. Customers can save between £25 and £250 a month, with the potential to earn more than £96 in interest over a 12-month period.

M&S current account customers also earn loyalty points on their M&S debit card spends, with one point earned for every £1 spent at M&S (both in-store and online). Customers receive £1 in M&S vouchers for every 100 points earned; the equivalent of 1% back in M&S vouchers. Points are automatically converted into M&S vouchers and sent to customers every quarter.

Paul Stokes, head of products at M&S Bank, commented:

“We want to make banking with M&S as rewarding as possible, so we’re delighted to be able to welcome new customers with a £100 M&S gift card, and the potential to receive a further £120 in the first year they bank with us, plus access to a high-rate savings account and debit card reward points.”