Crawford Prentice, Deputy CEO of M&S Bank, said: "A current account with no monthly fee is the natural next step for M&S Bank and we have seen significant interest in the M&S Current Account since announcing details in March. As such, we wanted to provide a registration facility which would enable customers to receive more information as soon as the account is available."

M&S Current Account customers will benefit from a transparent account structure with an automatic £500 overdraft, the first £100 of which is interest-free and the remainder to be charged at 15.9 per cent EAR**. As with the existing M&S Premium Current Accounts, the new account will have no overdraft fees and customers will receive free text alerts as they approach their overdraft limit.

In addition, M&S Bank does not charge an ATM transaction fee for withdrawals abroad*** made with the M&S debit card.

M&S Current Account customers will earn loyalty points on debit card spend, with one point earned for every £1 spent in M&S (both in-store and online) using their M&S debit card. Customers receive £1 in M&S vouchers for every 100 points earned and points are automatically converted into M&S vouchers and sent to customers each quarter****.

In addition, M&S Current Account customers will receive a £100 M&S gift card once they've switched their current account using the Current Account Switch Service*****.

M&S Current Account customers can also benefit from exclusive offers on selected M&S Bank products.