We have transferred the business of M&S Bank to HSBC UK. This means that any accounts, products and services you previously held with M&S Bank, including any credit cards, personal loans, savings products, general insurance services and store cards, will now be provided by HSBC UK.
To do this, we used a legal process called a banking business transfer scheme under Part VII of the Financial Services and Markets Act 2000 (the Scheme).
The Scheme transferred existing customers of M&S Bank and any products they held to HSBC UK.
As you may know, prior to the transfer, M&S Bank was already part of the HSBC Group. The transfer brought the business of M&S Bank into HSBC UK which is the UK consumer-facing bank of the HSBC Group and includes first direct.
Following the transfer, you will still have access to the same accounts, products and services, through the same channels. The M&S branding remains the same and M&S Bank is now a trading name of HSBC UK.