M&S Money Launches First Easy Access Saver
Released
on: May 19, 2009, 7:36 am
Author: Liz Neild
Industry: Financial
M&S
Money has announced its first easy access account, offering a
convenient, safe home for customers who want to save for everyday
items.
The
everyday savings
account has a variable interest rate of 1.56% AER which includes
a 1% bonus for 12 months from the date the account is opened.
Interest rates are variable and interest is calculated daily and
paid into the account monthly.
Customers
can apply for an account on the phone or by post with the minimum
deposit required to open an account being just £1.
M&S
Credit Card and Chargecard holders who open an 'Everyday' account
before 17 July 2009 can earn up to 2,000 M&S points. The number
of points customers will receive will be based on the cleared
balance that the individual has in their account as of 31 July
2009*.
Customers
can make deposits into their account by debit card, BACS transfer,
standing order, by cheque through the post or at any one of the
nationwide, in-store bureaux de change.
Recent
M&S Money research revealed that saving money remains a priority
for many people despite the current economic climate. The survey**
found that almost three quarters (73%) of people will continue
to save this year, and a further 11% plan to start saving. When
asked what was most important when putting their money into savings,
a third (34%) said it was having a provider they could trust.
Colin
Kersley, M&S Money Chief Executive, said: "Financial
stability is a priority for savers in these uncertain times, with
trust and value becoming key factors for customers when choosing
a savings provider.
"M&S
tax free Cash
ISA savings have attracted a record number of people who want
to save for the long-term. The Everyday Savings Account gives
M&S customers an easy way to save for everyday things, whether
it's a well earned holiday or home improvements."
Notes to Editors:
* Points will be allocated on a tiered basis, dependant on the
balance of savings in the account on 31/07/09 and will appear
on the customer's November 2009 Loyalty statement. Offer open
to main cardholder only.
**
Research carried out on behalf of M&S Money by YouGov 9th
- 11th January 2009, among 2,120 people aged 18 and over.
About
M&S Money:
M&S Money (the trading name of Marks & Spencer Financial
Services) was founded in 1985 as the financial services division
of Marks and Spencer Group plc. The company is now a top ten credit
card provider and the second largest travel money retailer in
the UK. M&S Money also offers a range of insurance cover,
including home
insurance, car insurance, pet
insurance, and wedding
insurance as well as loans, savings and investment products.
In
November 2004, Marks & Spencer sold M&S Money to HSBC.
The Group serves customers worldwide from around 9,500 offices
in 86 countries and territories in Europe, the Asia-Pacific region,
the Americas, the Middle East and Africa. With assets of US$2,527
billion at 31 December 2008,
HSBC is one of the world's largest
banking and financial services organisations.
HSBC is marketed worldwide as 'the world's local bank'.
M&S
Money has an executive committee comprising an equal number of
representatives from HSBC and Marks & Spencer.
PR Contact:
Liz Neild
M&S Money press office
Marks & Spencer Money
Kings Meadow
Chester
CH99 9FB
01244 686 068
www6.marksandspencer.com
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