Marks & Spencer poised to open an actual bank!
The retail banking world is about to be rocked to its foundations or something following the epic news that Marks & Spencer are diversifying away from T-shirts with boats on them and really nice raspberry panna cotta and into the harsh world of BANKING. Oh, wait, we mentioned banking at the start of this paragraph so the grand capitalised reveal probably wouldn’t have come as much of a surprise. Also, it’s in the headline. Oh.
Anyhoo, the maiden M&S bank will open in their big posh Marble Arch store next month and they’ve got another 20 in the pipeline, even though they’re refusing to comment on it all. However, we can just feel it in our BONES so there you go.
They’ll be offering all manner of financial services including mortages and will be open at the same time as the rest of the store, including weekends. Imagine THAT! They obviously feel as though the move will be a hit, as their financial services arm turned a tidy £50m profit last year.
M&S are following in the banking footsteps of Tesco, who are still to launch the current accounts that they’ve been tantalising us all with for months now. Perhaps this is the future of banking and one day you’ll be able to cancel a direct debit while waiting for a kebab. Eeeeh, the future eh? It’s like something out of a film.