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  • FIRST POST
    • Mikkelzzz3
    • By Mikkelzzz3 30th Nov 17, 5:00 PM
    • 14Posts
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    Mikkelzzz3
    M&S Bank Current Account Rejection
    • #1
    • 30th Nov 17, 5:00 PM
    M&S Bank Current Account Rejection 30th Nov 17 at 5:00 PM
    Hey all, I am currently applying & switching bank accounts, to sweep up all those nice switching bonuses.

    Today I got declined for a current account the first time. This was a M&S Current Account. My question is: Do M&S have higher standards than other banks?

    Would it be safe for me to start a new current account application with First Direct (Do they have "lower standards"), or will every bank decline me now, and for how long?
Page 1
    • Gary_Dexter
    • By Gary_Dexter 30th Nov 17, 5:09 PM
    • 140 Posts
    • 92 Thanks
    Gary_Dexter
    • #2
    • 30th Nov 17, 5:09 PM
    • #2
    • 30th Nov 17, 5:09 PM
    Check your credit files for any defaults, late payments etc. first before making multiple applications
    • badger09
    • By badger09 30th Nov 17, 5:26 PM
    • 5,567 Posts
    • 4,876 Thanks
    badger09
    • #3
    • 30th Nov 17, 5:26 PM
    • #3
    • 30th Nov 17, 5:26 PM
    First Direct are amongst the 'choosiest'. As are HSBC. Spot the theme here

    I would try a completely different group, but a check of your credit files is a good idea.
    I'm a supporter of dunstonh
    • Kim_13
    • By Kim_13 30th Nov 17, 7:15 PM
    • 1,438 Posts
    • 1,740 Thanks
    Kim_13
    • #4
    • 30th Nov 17, 7:15 PM
    • #4
    • 30th Nov 17, 7:15 PM
    In case you haven't managed to 'spot the theme' as you aren't aware, HSBC, First Direct and M&S are all part of the same group, so the former two aren't recommended following an M&S decline.

    Lloyds, Halifax and Bank of Scotland are another group.

    Natwest and Royal Bank of Scotland are another.

    Anyone else is out on their own.

    As another poster suggested, do check your credit files before applying elsewhere. Never pay for these, as you can get them all via the free services. See this article for details: https://www.moneysavingexpert.com/loans/check-free-credit-report#free
    Sealed Pot 11 #520 ~ /£100
    VSP 2017 #9 ~ £108.83/£250.00
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    I'm a Board Guide on the Savings and Investments , Budgeting and Bank Accounts , Credit Cards and Marriage, Relationships and Families boards which means I volunteer to help get your forum questions answered and keep the forum running smoothly. Please remember, board guides don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this.) Any views are mine and not the official line of MoneySavingExpert.com
    • Katiehound
    • By Katiehound 30th Nov 17, 8:44 PM
    • 3,904 Posts
    • 37,992 Thanks
    Katiehound
    • #5
    • 30th Nov 17, 8:44 PM
    • #5
    • 30th Nov 17, 8:44 PM
    Another group of stable mates are Clydesdale & Yorkshire + the new 'B'

    Isn't Tesco affiliated to RBS?- or am I imagining things??
    Being polite and pleasant doesn't cost anything!

    If you found my posting helpful please hit the "Thanks" button!
    Thank You
    • Mikkelzzz3
    • By Mikkelzzz3 30th Nov 17, 11:16 PM
    • 14 Posts
    • 4 Thanks
    Mikkelzzz3
    • #6
    • 30th Nov 17, 11:16 PM
    • #6
    • 30th Nov 17, 11:16 PM
    Thank you everyone!

    My credit file looks good. No overdue payments. No Loans, paying credit cards in full every month.

    I think I got declined because of the numerous current account applications I have made in a very short period. Around 6 in 3 months. (All successful until now)

    I will take a 2 month break, then try M&S again. Is that a good strategy, or is 2 months too little?
    • EachPenny
    • By EachPenny 30th Nov 17, 11:28 PM
    • 3,264 Posts
    • 6,004 Thanks
    EachPenny
    • #7
    • 30th Nov 17, 11:28 PM
    • #7
    • 30th Nov 17, 11:28 PM
    Isn't Tesco affiliated to RBS?- or am I imagining things??
    Originally posted by Katiehound
    Originally, but then Tesco went its own way in 2008.
    "In the future, everyone will be rich for 15 minutes"
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