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

Archi_Bald

MarkFromMullion wrote: »

It says "Your gift card can be used on anything you like in store or online".

Awwe, you spoilt it by quoting the official T&Cs which everyone should have read.

Drp8713

How long did it take to get the welcome pack / debit card etc.

i have had the acceptance email, signed and sent back the two forms and had a random letter making sure i havent switched to dual US Citizenship in the last week since i applied, but so far nothing else.

Frank121

Hello,

What is everyone's experience on cancelling the premium account? My 3 months should end on the 4th September. However yesterday when I called to inquire when I could cancel, the representative said it would be done immediately and she would credit the £10 fee due in August!

Did this happen to anyone else? My £100 switching bonus was paid a week or so ago.

Thanks,
Frank

vouch0r

Frank121 wrote: »

Hello,

What is everyone's experience on cancelling the premium account? My 3 months should end on the 4th September. However yesterday when I called to inquire when I could cancel, the representative said it would be done immediately and she would credit the £10 fee due in August!

Did this happen to anyone else? My £100 switching bonus was paid a week or so ago.

Thanks,
Frank

yep the same, thought i canceled too early and when she said shes just going to check if i can downgrade she said no problem

and the refund thing was the same for me

currently on a standard CA now.

surfsister

vouch0r wrote: »

yep the same, thought i canceled too early and when she said shes just going to check if i can downgrade she said no problem

and the refund thing was the same for me

currently on a standard CA now.

i don't suppose you still have the phone number?

adindas

Applied over the phone yesterday.
My application get referred.
It seems now when I apply a new current account my application will almost certainly get referred.

When I applied my Tesco Current Accounts, quite similar things happen but the difference was I got approved the following day.

My noddle score is 5/5 and never have any default, Bankruptcy, CCJs, debt (apart from Credit Cards and mortgage). I am also a home owner with mortgage.

I just notice that this is very possibly something to do with money Laundry regulation as they might see the flow of large sum money coming in and out from one of my bank account which is disproportionate to the income ??

When a less experience people look at the case like this (happened to me when I opened a Loyds Club account) s/he might think this is a suspected money laundry. They have not learn that this is the game that many people here at MSE is playing all the time to get the best possible interest. Also because they might fail to learn that if the money got transferred among UK current accounts is very little chance that it is a money laundry.

I will wait and see and will keep the forum informed. This is quite new to me in the past it is almost a straight forward approval...

Archi_Bald

It is much more likely to do with the bank's assessment of the credit that is available to you, regardless of whether you use the credit or not. Having lots of current accounts certainly is no reason on its own for applications to be referred - I have around 30 and get accepted for new ones all the time.

Noddle (or other CRA) scores are irrelevant and will not be used by any bank.

adindas

Archi_Bald wrote: »

It is much more likely to do with the bank's assessment of the credit that is available to you, regardless of whether you use the credit or not. Having lots of current accounts certainly is no reason on its own for applications to be referred - I have around 30 and get accepted for new ones all the time..

Well, If I include saving accounts, I have more than 30 accounts at this time of applications but this is not the point that I am raising.

Archi_Bald wrote: »

Noddle (or other CRA) scores are irrelevant and will not be used by any bank.

I am fully aware of this. The reason why I am mentioning this is to show that I do not have a bad credit history, before people in this forum start guessing mentioning various reasons which is certainly not the case.

My available credit to gross income at the time is about 35%. Utilization is less than 10%.

I found it in the past, it is something to do with flow of money come in and out in one of my current account. Until last month, I only use one current account to meet requirement of high interest current account in and out and for other personal purpose. When I open my Club Lloyds account in the branch she kept scrutinizing me on the fact that very high sum of money come in and out. Also she kept telling me that she has obligation to find this out. She is more likely a novice looking from her age. She could not see the fact that the money is coming in and out from the UK bank account (not abroad) and the net total balance is just increase gradually which nullified the probability of money laundry. Fortunately at that time my case was referred to her senior and got approved immediately as he could easily understand what I am doing by just asking simple question. Where did the money come from and how much money I have in other UL accounts.

Probably we could learn more about this if other people who have not got direct approval share their personal experience.

colsten

Looking back over your posts, you seem to be making applications in branch and over the phone, thus allowing for all sorts of conversations to take place that would not take place if you applied online.

Also, it sounds as if you aren't a native english speaker - are you a UK citizen? If you aren't, this may explain why you are subject to additional checks.

YorkshireBoy

adindas wrote: »

I just notice that this is very possibly something to do with money Laundry regulation as they might see the flow of large sum money coming in and out from one of my bank account which is disproportionate to the income ??

How would they see that? Are you suggesting banks share current account throughput data between themselves, either directly or via credit/fraud prevention agencies?