M&S Money rebranded as M&S Bank to reflect banking expansion
High Street retailer Marks & Spencer is to further diversify from its clothing and grocery roots with the opening of its first dedicated bank branch, the business has announced.
The chains prominent Marble Arch store has been chosen as a test bed for in-branch banking, making current accounts available amongst sandwiches, socks and cashmere sweaters.
Initially the service will be limited to current accounts before extending to home loans and eventually mortgages.
This will be the first of 60 such services to open in larger format stores up and down the country.
The process will entail rebranding the retailers existing M&S Money service to M&S Bank to reflect its banking expansion.