M&S Bank to shut 29 branches as it moves services online
M&S Bank will close 29 in-store branches from this summer after shifting services to online, as the pandemic has made the consumer preference of online banking more apparent.
The bank will continue to offer general insurance, savings and loans online and by phone, but will now offer a new card-less payment option.
M&S Bank CEO Paul Spencer said: “As we adapt to meet the changing needs of our customers, and we deliver some new – more digitally-focused products and services – it does regrettably mean we will move away from branch-based servicing and the 29-in-store bank branches and associated current account will close this summer.”