Marks and Spencer


Marks and Spencer began in 1985, when St. Michael Financial Services was established in Chester. By 1988, the company changed its name to Marks and Spencer Financial Services Ltd., and the company began offering personal loans just one year later. Within two years, Marks and Spencer Financial Services Ltd. was offering interest-free financing to customer purchasing furniture in Marks and Spencer retail stores. The company then expanded their services to include insurance, ISAs and life assurance. In 2003, the company changed its name to Marks and Spencer Money, which is the name it continues to conduct business under today.

Current Information

When Marks and Spencer Money and HSBC entered into a profit-sharing partnership in 2004, the company broadened its financial products and services even further. This allowed them to offer a greater variety of ISA products in addition to providing other savings and investment options. Today, customers can choose between a cash or stocks and shares ISA from Marks and Spencer by phone or online.

Cash ISAs Available

The Marks and Spencer cash ISA is available for as little as £100. The company has the following cash ISA options available:

  • Variable-Rate ISA - The Marks and Spencer variable-rate ISA currently offers a bonus rate for up to 18 months, which is six months longer than most institutions. Opening deposit minimum of £100 is required, with minimum deposit amounts of £25 once the account is open. This account also allows customers to withdraw from the account at any time without the worry of an interest penalty.
  • Fixed-Rate ISA - For customers who don't need their money easily accessible and want to earn a higher rate, fixed-rate ISAs are also available. These accounts come with terms of one, two or three years, and they can be opened with just £500. Instead of assessing an interest penalty on withdrawals during the term, Marks and Spencer charges a flat rate, depending on the length of your term. One-year accounts have a flat fee of £50, two-year terms are charged £75, and three-year terms are assessed £100 for early withdrawals.

Stocks and Shares ISAs to Choose From

Marks and Spencer also offers a stocks and shares ISA that can be started with as little as £100. The company offers five M&S Unit Trusts to choose from, so you can choose the fund that best meets your financial goals and risk comfort level. Customers are allowed to contribute minimum amounts of £25 a month into their stocks and shares ISA, and money can be withdrawn without penalty at any time. However, Marks and Spencer recommends leaving funds in the investment a minimum of five to 10 years to see the best possible return.

Marks and Spencer offers a good variety of ISA products to their customers. This company offers a wide range of banking products and services that are fully backed by the size and security of HSBC. Whether you are in the market for an easy-access cash ISA or an investment product that will provide a greater potential return, Marks and Spencer may have the precise ISA you need.

Important Risk Information:

This website contains information only and does not constitute advice or a personal recommendation in any way whatsoever. The value of investments and income from them can fall as well as rise and you may not get back the full amount invested. The tax efficiency of ISAs is based on current tax law and there is no guarantee that tax rules will stay the same in the future.

Different types of investment carry different levels of risk and may not be suitable for all investors. Please ensure that you read the Important Risk Information for further details. Prior to making any decision to invest, you should ensure that you are familiar with the risks associated with a particular investment and should read the product literature. If you are in any doubt as to the suitability of a particular investment, both in respect of its objectives and its risk profile, you should seek independent financial advice. is a trading name of Fair Investment Company Ltd which is authorised and regulated by the Financial Conduct Authority.