Martin also addressed the Virgin Money current account switch incentive.
As well as urging people to check the eligibility criteria, he said: “If you don’t qualify for that or you want another choice – and by the way anyone can get these, you don’t have to be leaving M&S – Virgin Money gives 12 bottles of wine, it says it’s worth £138 (it’s the only one who sells them so I don’t know how true that is), £50 to charity and two percent interest on up to £1,000.”
Last Thursday, M&S Bank announced its current accounts will be closing, with the bank announcing the next stage of its transformation plans.
Amid a refocused offering and acceleration of digital account service, the bank will close its current accounts, as well as closing its 29 bank branches.
Last week, Paul Spencer, CEO, M&S Bank, said: “We have developed the next phase of our Transformation programme to enhance the M&S shopping experience, with an expanded range of payment solutions, which are increasingly integrated with M&S – both in-store and online – offering customers a more seamless shopping and payment experience.
“We look forward to sharing more details on these new products and services soon.