M&S Account, any account to switch?

osaddict

Guys,

I'm keen on going for the M&S Account, however, I'm wondering if the account you want to switch has to be of a specific type? I have an ancient Tesco savings account with about 1k or so in it. Would this be valid since it's a UK bank account, or does it have to be specifically a current account?

Thabks!

Steve_xx

It has to be a current account.

osaddict

Ah, that's a shame, I don't want it to be me 'main' account, I may have to pass on the offer. Shame, that would have been a nice Christmas bonus!

knack92

osaddict wrote: »

Ah, that's a shame, I don't want it to be me 'main' account, I may have to pass on the offer. Shame, that would have been a nice Christmas bonus!

Open another account solely for the purpose of switching? Extra work but still may be worthwhile.

osaddict

I suppose it could be done, the only concern is I'm very close to getting a mortgage, I don't know if opening accounts willy nilly would possibly count against me when getting one? - I've had an AIP approved, but not the actual mortgage yet as I haven't found a house yet.

osaddict

Well I might have stumbled upon an account, I seem to have a 'FlexAccount' with Nationwide, I believe opened up when I had one of their ISAs for a year or so. It's only got £1 in it, but I *think* it's still active (the last statement I can find is quite a long time ago), I wonder how I could check if this account is still 'alive'. Give them a call I guess!

osaddict

It's alive! Cool, I'm going to roll with this account I think.

Steve_xx

osaddict wrote: »

Well I might have stumbled upon an account, I seem to have a 'FlexAccount' with Nationwide, I believe opened up when I had one of their ISAs for a year or so. It's only got £1 in it, but I *think* it's still active (the last statement I can find is quite a long time ago), I wonder how I could check if this account is still 'alive'. Give them a call I guess!

Yes well that would do. However, that particular account comes with Free European travel insurance. So if you travel to europe a plenty, then it may be worthwhile holding onto it and reactivating it for that purpose.

osaddict

I thought that, but it's only if you actually *use* the account - i.e. maintain a regular amount coming in and stuff like that unfortunately.

Steve_xx

osaddict wrote: »

I thought that, but it's only if you actually *use* the account - i.e. maintain a regular amount coming in and stuff like that unfortunately.

Well yes you need to pass £750 a month through it but it doesn't need to stay there!

osaddict

That's a very good point, however, I think I'm going to take out a world travel policy quite soon as I'm intending to visit Asia next year at some point. Thanks for pointing it out though, I'd certainly forgotten! - I could have used it this year instead of having a separate policy!