Marks and Spencer Money Loans (M&S) Reviews & In-depth Info

Borrowing / Bad Credit Loans
Marks and Spencer Money Loans
Marks and Spencer Money Loans

Are you considering a loan with M&S Bank? Or perhaps you already have one, and you’re looking for further information about the company. Either way, we’ve compiled the most important, in-depth information about M&S’s personal loan for you in this loan guide.

About – Who are Marks and Spencer bank?

Marks and Spencer Bank is trading under Marks and Spencer, offering personal loans of up to £25,000 with up to 84 months to pay. M&S Bank also offers other financial products such as credit cards and insurance.

What are the key features of M&S Bank’s personal loan?

It’s important to analyse the key features of a loan carefully before you commit. Here are the critical details of M&S’s Personal Loan:


Minimum APR: 2.90%
Maximum APR: 21.90%

The APR for the loan is advertised at 2.90%. This is a best case scenario. Depending on your individual circumstances, the APR could go up to 21.90%.

Loan Amount and Repayment Period

You can borrow between £1000 and £25000.

The loan repayment period can be between 12-84 months.


Here’s the representative example that they give on their website:

Borrowing £10,000 over 60 months: Monthly repayment £179.07 Total amount payable £10,744.80 Representative 2.9% APR Interest rate of 2.9% p.a. (fixed)

Information correct as of 01/04/21 (M&S)

How do I apply for a M&S loan?

You can apply for a M&S loan online in 9 minutes. You will receive an approval decision within 15 minutes.

Once you’ve applied online, M&S will email you the agreement to sign and return to them. They will sign the agreement when they get it back from you and transfer the money to your account in 3-5 working days.

M&S Personal Loans Review

Will I be accepted for a M&S loan? 

M&S will assess you based on certain criteria. See if you qualify:

  • Age: 18+
  • Residency: UK resident
  • Income: You must have a minimum annual income of £10,000

Information correct as of 01/04/21 (M&S)

M&S Bank reviews

It’s important to see how other customers have rated their experience with M&S Money. Take a look at their up-to-date reviews here.

Trustpilot review

Information correct as of 14/06/21 (Trustpilot)

How to complain about M&S Bank?

Should you need to make a complaint about M&S Bank, then you can use the details below to either write to them or call them.

Paul Jones
M & S Bank
PO Box 10565
+44 1244686276

If M&S does not respond to your complaint then you should contact the Financial Ombudsman Service. They might be able to handle your complaint.

Information correct as of 01/04/21 (FCA)

Loan interest and charges cap

There is not a price cap which has been introduced by the Financial Conduct Authority and it is designed to protect borrowers against receiving excessive charges on their loan. This is some information on what you need to know about these new interest and loan caps:

  • 0.8% cost cap of the amount borrowed has been introduced, this includes the interest and fees.
  • £15 default fees cap – a default interest may be charged but it should not be higher than the 0.8% original rate per day.
  • 100% complete cost cap – you should not pay over 100% of the money you have borrowed.

The cost caps apply to credit agreements with an interest rate of 100% or more per year and that will be either fully or substantially repaid within a year.

There were other regulations which came into force in May 2017. This means that lenders must provide information on their products on a price comparison website which is authorised by the FCA and borrowers should always be provided with a summary of the cost of borrowing.

Continuous Payment Authority and what it means

You may be asked to repay the debt using a Continuous Payment Authority (CPA), which allows the company to take money whenever they wish from your bank account.

The new CPA regulations mean that if the payment fails on two occasions, the lender cannot try to take any further payments. If they do this, they are breaking the legislation.

There are rules which mean that lenders cannot take partial payments anymore. If the full amount is not in your account to cover the payment, they cannot take anything at all. There are exceptions if you have agreed that the lender can take partial payments to cover it. If they do not follow the legislation regarding CPA, you have the right to make a complaint.

What if you can’t pay the loan back?

According to the law, lenders have a responsibility to:

  • Provide you with information on where to obtain free independent debt advice
  • Help develop a suitable repayment plan, and hold any recovery until this is arranged.
  • Give you time to pay back the loan, and freeze interest wherever necessary.

Company information:

After researching Companies House and their website, we found the following information about Marks & Spencer Financial Services Plc:

Date of incorporation: 24 November 1983
Company status: Active
Company number: 01772585
Company type: Public limited Company
Address: Kings Meadow, Chester Business Park, Chester, United Kingdom, CH99 9FB
Opening Hours: Monday-Friday 8 A.M – 6 P.M., Saturday 8 A.M – 4 P.M
Phone number: +443459000900

Information correct as of 01/04/21 (Companies House)

FCA registration:

The Financial Conduct Authority (FCA) is the conduct regulator for financial services firms and financial markets in the UK. 

FCA regulated: Yes
FCA status: Authorised
FCA reference number: 151427
Trading names: 
M&S Bank
M&S Insurance
eM&S Savings & InvestmentS
Place of business: 
Kings Meadow
Chester Business Park
CH99 9FB

Information correct as of 01/04/21 (FCA)

Data protection registration:

Data protection registration means that this company is registered with ICO, the UK’s independent authority set up to uphold information rights in the public interest. The privacy of your data will be protected.

Registration No: Z7484152
Data controller: Marks and Spencer Financial Services Plc
Kings Meadow
CH99 9FB

Information correct as of 01/04/21 (ICO register)

Where are M&S headquarters located?

You may want to speak with the loan company in person. If you do, it’s important to find a company whose offices are near your own address. Take a look at their office location on a map.

Kings Meadow, Business Park, Chester CH99 9FB

How to get help with your debt

There are organisations out there who can help you get free of your debt, including:

  • Citizens Advice provide help and advice on a range of personal matters, including debt advice.
  • StepChange Debt Charity can offer you free advice on getting help with your debt and sorting out your finances
  • National Debtline a well known organisation who help support people in getting out of debt, and provide free and impartial advice.


CONC 2.1 Application

CONC 5.2A Creditworthiness assessment

CONC 13.1 Application


Are you struggling with debt?
Are you struggling with debt?
  • Affordable repayments
  • Reduce pressure from people you owe
  • Stop interest and charges from soaring