M&S Current Account

alanq

jonmcclelland wrote: »

One idea to make this account more feasible, if you did a lot of your shopping under the M&S brands is to offer either cash-back on purchases or even a small discount on purchases to make the £15 seem more justifiable

Not that I'm tempted but they are offering 20% of off clothing and homeware goods for a year to customers switching their main bank account.

opinions4u

alanq wrote: »

Not that I'm tempted but they are offering 20% of off clothing and homeware goods for a year to customers switching their main bank account.

So the account costs £240 a year.

Spend £1,200 and you break even!

Does it discount sale items too?

jonmcclelland

If you made a large purchase through the homeware department then I guess it makes sense, it's just a shame its not across all the brands as if it did have food included in that it would work out pretty well for customers.

Gromitt

alanq wrote: »

Not that I'm tempted but they are offering 20% of off clothing and homeware goods for a year to customers switching their main bank account.

Could we switch a dummy account, buy all our clothes and homeware for a year, and then close the account, therefore getting 20% discount for £15 ?

jonmcclelland wrote: »

it's just a shame its not across all the brands as if it did have food included in that it would work out pretty well for customers.

Which is exactly why they don't offer it!

I probably spend about £100 total in M&S over the course of a year, and most of that is in the January sales when loads of stuff is 25% off.

pmduk

M&S have lost their edge in food and clothing, so now appear to be looking to milk the brand whilst it still appears to have some value in it.

mrchiggles

I suppose that if you like to/have to do most of your banking in branch and could benefit from their extended opening hours it might be worth it for a very small number of people?

jonmcclelland

Well, I think that's an avenue they want to take advantage of. Not many banks open past the realms of 5.30 and to have a branch accessible account available anywhere up to 10pm (the new M&S where I live) it will stand out.

Unfortunately to me, I won't pay £15 for the privilege. If this model takes off though, I can see brands like Sainsburies and Tesco offering a CA service for the late-shoppers, where they create that 'one stop shop' for all your needs. It might not be this year but it's something I can imagine happening soon enough.

Deposit a cheque, do a bit of shopping, pick up an insurance leaflet... at 8pm at night when you do your Tuesday-Big-Shop