Your Savings Questions

Who owns M&S Money?

M&S Money is a trading name of Marks and Spencer Financial Services plc which is a wholly owned subsidiary of HSBC Bank plc. The HSBC Group is one of the world's largest financial services organisations, with over 100 million customers in more than 85 countries and territories. The Group is also one of the most strongly capitalised and liquid banks in the world.

What does M&S Money do with my savings?

We use your savings to lend to other M&S customers in the UK, either as personal loans or through the M&S Credit Card. We don't lend to other companies and we don't back residential or commercial mortgages.

Are my savings safe with M&S Money?

The UK's Financial Services Compensation Scheme guarantees the first £50,000 of all your cash savings (Cash ISA, Fixed Rate Savings and Everyday Savings Account) held by M&S Money.

I have savings with both M&S Money and HSBC. How am I protected by the compensation scheme?

Marks and Spencer Financial Services plc and HSBC Bank plc are both authorised by the Financial Services Authority. So the compensation scheme guarantees up to £50,000 of your savings with M&S Money and up to £50,000 of your savings with HSBC.

Is M&S Money affected by the government's rescue plan for banks?

M&S Money is a wholly owned subsidiary of HSBC Bank plc. HSBC remains appropriately funded, and has no current plans, or need, to apply for the government's financial support scheme.