A BANK will open in the new M&S at Cheshire Oaks by the end of the year.

The retail giant revealed the plans among a list of 28 branches it will open before 2013.

The retailer opened its first bank branch in July, offering seven days a week banking facilities and a pager service, meaning customers can carry on with their shopping instead of queuing.

M&S has previously confirmed it intends to open 50 bank branches by the end of 2013, with opening hours mirroring the shops in which they are sited.

Customers have been able to pre-register for the new M&S current accounts since July.

M&S Bank is wholly owned by HSBC but runs on a 50/50 profit share with Marks & Spencer.

Legally, the new bank is structured as a separate entity to HSBC, meaning it has its own registration with the Financial Services Compensation Scheme (FSCS), which compensates people if their bank goes under.

The move has been hailed as positive for mainstream consumers, and analysts have predicted M&S Bank is likely to target its products at customers who already have strong credit records.

They have said that, as with any paid-for service, customers should consider how much they will benefit from the perks included in the current accounts.