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Free M&S current account - £100 in M&S vouchers if you switch

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Comments

  • vouch0r
    vouch0r Posts: 206 Forumite
    Part of the Furniture 100 Posts Combo Breaker
    Sarah7 wrote: »
    The £10 fee is payable in arrears, fortunately; however beware that's balanced out with 30 days notice being required to cancel the account.

    sorry i never did understand this, does this mean they charge me after 30 days service? i have asked them the earliest day i can cancel already - so should assume i will only be charged three times..?
  • innovate
    innovate Posts: 16,217 Forumite
    10,000 Posts Combo Breaker
    Still not received the promised switching pack, nor the security key. This is beginning to get worse than opening a Yorkshire Bank account, and that was bad.
  • vouch0r
    vouch0r Posts: 206 Forumite
    Part of the Furniture 100 Posts Combo Breaker
    i have recieved the key (last day they said i should possibly receive it) , switching pack and everything else now. switching is scheduled for the 10th so not too far
  • MABLE
    MABLE Posts: 4,238 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    innovate wrote: »
    Still not received the promised switching pack, nor the security key. This is beginning to get worse than opening a Yorkshire Bank account, and that was bad.

    Very surprised you are still waiting. I believe I applied after you and received everything through this Monday and the account is up and running.
  • socrates
    socrates Posts: 2,889 Forumite
    Stupid situation today - I have received everything - apart from the second letter - apparently they need to speak to you when you have received a 2nd letter to confirm you actually want to switch (why would you fill in the paperwork to switch and then not want to switch)

    I told them the process was long winded and tiresome and the acceptance could have been completed by email - instead of calls going backwards and forwards

    They are sending the letter again and another call to confirm I still want to switch

    Lets see....
  • ronbell101
    ronbell101 Posts: 198 Forumite
    Part of the Furniture 100 Posts Combo Breaker
    I ave noticed this on the M & S Website under the "Switch to us" heading
    Days 3 & 4
    We will set up all the payment mandates on your new current account, inform all your Direct Debit originators that you've moved banks and give them your new details. Your employer will also be notified so your salary will be redirected.
    Is this standard procedure during the New 7 day switch service or can you opt out of this ?
  • Archi_Bald
    Archi_Bald Posts: 9,681 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    ronbell101 wrote: »
    I ave noticed this on the M & S Website under the "Switch to us" heading
    Days 3 & 4
    We will set up all the payment mandates on your new current account, inform all your Direct Debit originators that you've moved banks and give them your new details. Your employer will also be notified so your salary will be redirected.
    Is this standard procedure during the New 7 day switch service or can you opt out of this ?

    Yes it is standard, and just as well as otherwise your employer would not have a bank account to pay your salary into.
  • MABLE
    MABLE Posts: 4,238 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    Archi_Bald wrote: »
    Yes it is standard, and just as well as otherwise your employer would not have a bank account to pay your salary into.

    What about if you are retired and receive 3 private pensions like myself. MKS can deal with the dd's and payees and standing orders but if need be I would speak to my pensions providers myself.

    However I was only planning to fund the account with manual payments and not with regular credits from my pension.
  • Archi_Bald
    Archi_Bald Posts: 9,681 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    The switcher service will notify all organisations that pay you, for the next 13 months. If you have no incoming payments, they will notify nobody, and if you have several, it will notify several. It will also automatically redirect any incoming payments for 13 months.

    See Q3 in http://www.paymentscouncil.org.uk/switch_service/faqs/
  • ronbell101
    ronbell101 Posts: 198 Forumite
    Part of the Furniture 100 Posts Combo Breaker
    Giving your employment details will be part of the Application form I would think
    Will that give the bank the information they need to switch your salary into the new account ?
    I was planning on funding any new account manually
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