M&S Bank in 60 seconds
M&S Bank Insurance at a glance (2026)
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About M&S Bank Insurance
M&S Bank started life as Marks & Spencer Financial Services in 1985, offering a charge card and unit trusts to M&S customers. The business expanded through the 1990s with loans, savings and pensions. In 2004, HSBC acquired Marks & Spencer Financial Services from M&S for £762m, rebranding it as M&S Money in 2007 and as M&S Bank in 2012.
In 2021, M&S Bank announced the closure of its personal current accounts and savings products. The bank now focuses on insurance, credit cards, travel money and loyalty via the M&S Sparks programme. Insurance is sold under the M&S Bank name but underwritten by external partners.
M&S Bank is owned by HSBCDespite the Marks & Spencer name, M&S Bank has been a wholly owned subsidiary of HSBC UK for more than twenty years. Marks & Spencer Group plc has no banking-licence holding in 2026.
Ownership and group structure
M&S Bank is a trading name of Marks & Spencer Financial Services plc, a wholly owned subsidiary of HSBC UK Bank plc, which itself is part of the HSBC Holdings plc global group. HSBC Holdings is a FTSE 100 constituent on the London Stock Exchange (ticker HSBA).
Strategy: retail loyalty, broker insurance
M&S Bank's strategy since 2021 has been to focus on products that complement the M&S retail experience: insurance, credit cards, travel money and loyalty. Insurance is sold under a broker model: M&S Bank carries the brand and the customer relationship, but each product is underwritten by an external specialist.
M&S Sparks members earn loyalty points on M&S retail spending and on M&S Bank insurance and credit-card use, deepening the link between the high-street retailer and the financial-services brand.
M&S Bank insurance: cover and prices in 2026
M&S Bank sells four core personal-lines insurance products, each underwritten by a specialist partner. The headline products are below.
The M&S Bank product range
M&S Home Insurance
Combined buildings and contents or standalone, underwritten by Covéa Insurance. Three tiers (Standard, Premier, Premier Plus) with accidental damage and home emergency on Premier Plus.
- Up to £1m buildings cover.
- Up to £75,000 contents cover.
- Premier Plus includes home emergency.
M&S Car Insurance
Comprehensive policy underwritten by Covéa Insurance, with optional motor legal protection, key cover and breakdown. Multi-car discount available for households.
- Multi-car discount available.
- Courtesy car included on Comprehensive.
- Optional £100,000 personal accident cover.
M&S Travel Insurance
Single-trip or annual multi-trip cover, provided by AXA Assistance. Optional winter sports, cruise and golf cover. M&S Premium Club members get an annual policy included with their fee.
- Emergency medical cover up to £10m.
- Included with M&S Premium Club membership.
- Optional cruise and winter sports add-ons.
M&S Pet Insurance
Lifetime, Max and Standard tiers, underwritten by Royal & Sun Alliance (MORE THAN). Lifetime cover continues to refill the annual vet-fee limit at each renewal.
- Vet-fee limits up to £10,000 a year.
- Lifetime cover that refills at renewal.
- Optional dental cover.
M&S Premium Club
Annual subscription bundle from M&S Bank, including an annual multi-trip travel policy, breakdown cover, M&S Sparks rewards and high-street vouchers.
- Annual multi-trip travel policy included.
- UK & European breakdown cover included.
- Sparks rewards and high-street vouchers.
Optional add-ons
Layered extras for motor and home: home emergency, family legal protection, key cover, motor legal protection and breakdown cover via Covéa partners.
- Home emergency included on Premier Plus.
- Motor legal protection from £25 a year.
- Family legal protection from £25 a year.
Sparks loyalty + insuranceM&S Sparks members earn loyalty points on M&S Bank insurance premiums and credit-card spend that can be redeemed against M&S retail purchases. The points value rarely offsets a much cheaper aggregator quote, so always check the open market before renewing.
Making a claim with M&S Bank
Claims are handled by the underwriter, not by M&S Bank directly. Home and car claims are handled by Covéa; pet claims by RSA / MORE THAN; travel claims by AXA Assistance. Each has its own 24/7 claims line and digital portal.
For step-by-step instructions on the claims process, see the M&S Bank Insurance help pages. Always quote your M&S Bank policy number when calling the underwriter.
M&S Bank online and the mobile app
M&S Bank insurance policies can be managed online via M&S Bank Online and (for credit-card and insurance customers) through the M&S Bank mobile app. Each underwriter also runs its own customer portal for claim updates.
- Sign in: by registered email and password.
- Forgotten password: reset by entering your email; a secure link is sent.
- Biometric login: Face ID, Touch ID and Android fingerprint supported in the M&S Bank app.
- Underwriter portal: claim status is updated in the underwriter's portal, not the M&S Bank app.
Sparks in the same appThe M&S Bank app shows your insurance policies, credit-card balance and Sparks rewards in one place — useful for redeeming loyalty points against your next M&S retail purchase.
M&S Bank Insurance customer service
Because each M&S Bank Insurance product is underwritten by a different partner, contact and claims numbers vary by cover and change over time, so we do not list them here. The reliable numbers for your policy are the ones M&S Bank and the underwriter publish for you directly.
How to contact M&S Bank Insurance
- For general customer service, renewals and cancellations, use the number printed on your policy documents or shown in M&S Bank Online and the M&S Bank app.
- Claims are handled by the underwriter: home and car by Covéa, travel by AXA Assistance, pet by RSA / MORE THAN. Use the dedicated claims number in your policy schedule for that product.
- You can manage policies, view documents and make payments through M&S Bank Online or the mobile app.
- The current numbers and contact forms are listed on the M&S Bank Insurance help pages.
Contact M&S Bank online
- M&S Bank Online: log in for documents, payments and most policy changes.
- Live chat: available from the M&S Bank Insurance help pages during UK business hours.
- X (Twitter): send a DM to @marksandspencer for general queries (never share policy or payment details).
- Underwriter portals: claim updates come from Covéa, AXA Assistance or RSA depending on the product.
Writing to M&S Bank Insurance
M&S Bank is a trading name of Marks & Spencer Financial Services plc; the current registered office is shown on the FCA Register (firm reference 151427). For policy correspondence and complaints, use the address printed on your policy schedule, as it routes your letter to the right team.
How to complain about M&S Bank Insurance
Raise the issue first with M&S Bank by phone, in M&S Bank Online or in writing. If the complaint is about the underwriter (Covéa, AXA Assistance, RSA), it may be escalated to them directly. If the complaint is not resolved within eight weeks, or you receive a final response you disagree with, you can escalate it to the Financial Ombudsman Service free of charge.
Is M&S Bank a good insurer? Reviews and ratings
M&S Bank Insurance scores around 4.0/5 on Trustpilot, with reviews highlighting the M&S brand reputation and the breadth of cover on Premier Plus home policies. The most common criticism is the multi-party experience of a claim (M&S Bank plus underwriter) and renewal pricing.
Defaqto rates M&S Home Insurance Premier Plus at 5 Stars on most variants. Fairer Finance has ranked M&S in the upper-mid pack for complaints handling in its 2025 reviews.
If price is your priority, run an M&S Bank quote alongside our list of the best UK insurance providers before you renew.
M&S Bank news 2024–2026
- 2024: M&S Bank confirms the long-term focus on insurance, credit cards and travel money, three years after closing personal current accounts.
- 2025: Covéa renews its underwriting agreement with M&S Bank for home and car cover through to 2030.
- July 2025: Following the Aviva-Direct Line merger, M&S Bank emphasises its broker-led model and Sparks loyalty integration.
- 2026: M&S Bank refreshes the Premier Club bundle with higher Sparks rewards and integrates the bundle into the M&S Bank app.
M&S Bank timeline
- 1985: Marks & Spencer Financial Services launches the M&S charge card and unit trusts.
- 1995: M&S Pensions and Investments launches.
- 2003: HSBC announces the acquisition of Marks & Spencer Financial Services.
- 2004: HSBC completes the £762m acquisition.
- 2007: Rebranded as M&S Money.
- 2012: Rebranded as M&S Bank and launches personal current accounts.
- 2021: M&S Bank closes personal current accounts and savings products, retaining insurance, credit cards and travel money.
- 2024: Strategy refresh confirms long-term focus on insurance and loyalty.
- 2025: Covéa underwriting agreement renewed through 2030.
M&S Bank FAQ
M&S Bank has been a wholly owned subsidiary of HSBC UK since 2004, when HSBC acquired Marks & Spencer Financial Services for £762 million. Marks & Spencer Group plc no longer owns or controls the bank, but continues to license the M&S brand for the bank's use.
M&S Bank is authorised by the Prudential Regulation Authority and regulated by the FCA and PRA, with the additional financial strength of being part of the HSBC group. Underwriters Covéa, AXA Assistance and RSA are all authorised by the PRA. Policyholders are protected by the Financial Services Compensation Scheme (FSCS), which covers 90% of an insurance claim with no upper limit on most general insurance products.
Only partially. M&S Bank closed its personal current accounts and savings products in 2021 but continues to offer insurance, credit cards and travel money. The bank remains authorised and trades from its Birmingham head office.
You have a 14-day cooling-off period in which you can cancel any new M&S Bank Insurance policy and receive a full refund minus a small admin fee. After the cooling-off period you can still cancel but M&S Bank will keep the portion of premium covering the time on risk plus an admin fee.
M&S Premium Club is an annual subscription bundle from M&S Bank that includes an annual multi-trip travel insurance policy, UK and European breakdown cover, Sparks loyalty rewards and high-street vouchers. It is sold separately from the bank's standalone travel and breakdown policies.