M&S Bank compensates customers after credit card delays


Thousands of customers receive compensation after facing lengthy delays

M&S Bank, the banking arm of high street retailer M&S, has offered compensation to thousands of customers who experienced delays of up to two months when applying for credit cards. The surge in applications over the past few months created a backlog, leaving many customers waiting for approval. The delays caused frustration for households, particularly over the Christmas period. M&S Bank, known for its competitive credit card offers, usually promises a response within five working days, but the recent backlog resulted in significant delays for some customers.

M&S Bank's popular 0% credit card offers

M&S Bank's 0% credit card offers, highly rated by Money Saving Expert, have attracted a large number of applications. Customers can earn M&S points on their spending and enjoy up to 20 months at 0% interest. However, the increased demand for these credit cards has overwhelmed the bank's processing capacity.

Compensation offered to affected customers

M&S Bank is reaching out to affected customers to apologize for the delays and offer compensation. In one email seen by HOAR, the bank has promised an additional 500 M&S Rewards Points, equivalent to £5 in-store. The bank acknowledges that the time required to complete an application can vary, depending on the information needed and how quickly it is received and processed. M&S Bank assures customers that it is committed to resolving any issues and encourages them to reach out for support.

How to seek compensation for delays

If you have been financially impacted by delays caused by a business, it is important to first formally complain to them. Make sure to outline your complaint in writing, specifying how you believe you have been treated unfairly. Keep any relevant evidence, such as correspondence that indicates an expected response time. Clearly state how you would like the issue to be resolved, including any compensation you may require. If the business's response is unsatisfactory, you can escalate your complaint to the Financial Ombudsman Service (FOS) for free. The FOS will review the evidence and determine if you were adversely affected by the business's actions.

For more information on how to make a complaint to the FOS, visit financial-ombudsman.org.uk/make-complaint or call 0800 023 4567.