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How to Buy Crypto with M&S Bank

How to Buy Crypto with M&S Bank

Alysha Jane
Fact Checked
Sep 1, 2022

Summary: In this quick and simple guide we outline the best way to buy cryptocurrencies with an M&S (Marks and Spencer) Bank account. To invest in cryptocurrencies like Bitcoin and Ethereum you need to go through a licensed and regulated cryptocurrency exchange.

We suggest using the eToro exchange as it's licensed by the Financial Conduct Authority (FCA) to operate in the United Kingdom. On eToro users can purchase cryptocurrencies, commodities, currencies, indices, ETFs & stocks. 

Table of Contents

Platform Highlights

Can I buy Crypto on M&S (Marks & Spencer) Bank?

There are currently no banks in the United Kingdom that allow their users to purchase cryptocurrencies directly on the platform. This is largely due to the fact that cryptocurrencies are still considered relatively new and most major banks have not acquired the appropriate licensing to operate a cryptocurrency investing platform. 

Although you cant buy cryptocurrencies directly on the M&S Banking platform, you can use your funds in your M and S bank account to purchase crypto. Simply connect your Marks and Spencer Bank account to a secure and licensed cryptocurrency exchange to invest in cryptocurrencies. We recommend using eToro as it offers a variety of features on its platform and offers free GBP deposits for M&S bank account holders. 

How to buy Crypto with Marks and Spencer Bank

In the below example we show M&S Bank account holders how to invest in cryptocurrencies like Bitcoin and Ethereum with their Marks & Spencer funds. Follow the below steps to get started. 

Step One: Sign up to the eToro platform and verify your identity, then complete the quiz
Step Two: Select ‘Deposit Funds’ and ‘Bank Transfer’ as the method, then enter the GBP you want to deposit

Fund Your Account - eToro

Step Three: You will be redirected to this page, copy their details into your M&S banking app and transfer the GBP you want to invest 

eToro UK Bank Details

Step Four: Once your GBP has arrived in your eToro account, visit the home page and search for the cryptocurrency you wish to purchase and select ‘Trade’.

Buy Bitcoin on eToro
Buy Bitcoin on eToro with M&S Bank

M and S Bank Cryptocurrency Policy

Marks & Spencer Bank does not have anything stated in its policies that would prohibit its users from investing in cryptocurrencies. Although they have not made an official stance on digital assets, they have been no reports of M&S bank account holders' funds being frozen when transferring to a cryptocurrency exchange. 

Users should not be concerned when sending GBP to eToro, funds can take from 4 - 7 business days to arrive in your account when depositing via Bank Transfer. If you would like to access your funds on eToro immediately, we recommend using the Credit/Debit card deposit method as it is instant. 

M&S Bank

About Marks and Spencer Bank

Marks and Spencer Bank PLC is a UK bank that offers a range of financial services including personal banking, loans, credit cards, and insurance. It is a subsidiary of Marks and Spencer plc, a leading British retailer. The bank has its headquarters in London and over 30 branches across the country.

Marks and Spencer Bank was established in 1985 and is one of the oldest retail banks in the UK. It offers a wide range of personal banking products and services including savings accounts, current accounts, loans, credit cards, and insurance. The bank also offers a range of business banking products and services including business accounts, loans, and credit cards.

Marks and Spencer Bank is a member of the Financial Services Compensation Scheme (FSCS) and is authorised by the Prudential Regulation Authority (PRA) and regulated by the Financial Conduct Authority (FCA) and the Prudential Regulation Authority.

Alysha Jane

I am a Finance graduate and market analyst that enjoys researching and writing about digital assets and how they intersect with Macro.

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