Can First Direct take money for M&S card

ILoveAFreebie

Hi,
We just set up a new bank account with First Direct (HSBC), then last night I realised that one of my creditors, which is an M&S card, is also HSBC. If we started making minimum payments for the M&S card, are they likely to look across their accounts and see that we have a First Direct bank account, and then take money of their own accord?

GlamGirlie

First Direct, HSBC Bank plc and M&S Money are all part of the HSBC Group.

However, they are all separate companies and use separate computer systems. So a member of staff at HSBC Bank plc would not know you had an M&C card unless you told them, and so equally, couldn't debit the account.

ILoveAFreebie

Thanks GlamGirlie, that puts my mind at rest a little.

swanfan02

ILoveAFreebie wrote: »

Hi,
We just set up a new bank account with First Direct (HSBC), then last night I realised that one of my creditors, which is an M&S card, is also HSBC. If we started making minimum payments for the M&S card, are they likely to look across their accounts and see that we have a First Direct bank account, and then take money of their own accord?

Are you referring to right of set off? There's a chance they could if you miss monthly payments.

Read the MSE article for more info--> http://www.moneysavingexpert.com/banking/setting-off

ILoveAFreebie

swanfan02 wrote: »

Are you referring to right of set off? There's a chance they could if you miss monthly payments.

Yes, I think I am referring to this. Ok, looks like I may have to have a re-think.