Forum Topic

M&S bank fraud.

In the run up to Christmas I posted that my M&S bank account was fraudulently compromised. I was especially unhappy with their fraud department's response and lack of communication with me. Today, I received a letter from M&S." M&S Bank is owned and operated by HSBC. We are not regulated by the Financial Conduct Authority..and therefore cannot administer or provide financial services.....however we do discuss ( issues ) with them."  It was actually, a nice letter.However. I was stunned.  I had no idea at all of this fact  Am I totally naive and is it well known? Did I not read the small print with due care and attention? Obviously not. Well, I suppose it's never to late to learn !.

Barbara Shillabeer ● 2820d9 Comments

Well I didn't know that either Barbara. I knew that my First Direct account is the internet arm of HSBC but I have never received any communication that linked HSBC to M&S. I've had a M&S credit card for years so is this part of HSBC too I wonder?

Sue Hammond ● 2820d

Who owns M&S Bank?M&S Bank is a trading name of Marks & Spencer Financial Services plc. M&S Bank is part of the HSBC Group. M&S Bank launched in 2012 on the foundations of M&S Money, which was established in 1985 as the financial services division of Marks and Spencer plc. Today, M&S Bank operates as a joint venture arrangement between HSBC and Marks & Spencer, however, M&S Bank has its own banking licence and its own Board.

Paul Clements ● 2820d

Thanks Paul. So my M&S cc is part of HSBC. Interesting.

Sue Hammond ● 2820d

Yes.  That was the actual card details that were used. It never goes out of my possession, is always in my wallet. I rarely use it outside the house and I didn't lend it to anyone. This was why they were sceptical.I do know there is equipment available to scan a card in your bag or clothing.  I am now using my Barclaycard but have invested in a wallet/case which prevents any copying of details.I live and learn.

Barbara Shillabeer ● 2820d

I do vaguely remember M&S Money.  I originally had am M&S Chargecard. had it from when it first came out.  Had no idea it was that long ago though Can't remember now but I suppose I must have upgraded in 2012. Thanks for clearing that up

Barbara Shillabeer ● 2820d

No one knows who owns anything any more. I only just found out that Boots (the chemist) is now owned by Walgreens in the US!

Maxine Campbell ● 2819d

The murky world of finance!  Some years ago (and I'm sure it's still the same) I discovered that most of our well known high st shops in the country were owned by about three companies.  They just change the branding and prices to reach their target markets, but come under the same umbrella.  Same with products, have a look at what Unilever owns!

Bunny Payne ● 2819d

had phone conversation today with HSBC/M&S, reiterating what they had told me previously. What really bothered me was they told me I took out an M&S bank account 6th April 1985! I was really horrified.  What other information is on record about me that far in my past and who is able to access it.?

Barbara Shillabeer ● 2819d

They would need to hold the records of your account for operational and regulatory reasons.

Michael Ixer ● 2819d