M and S bank hopeless!! Anyone agree?

Thrugelmir

badger09 wrote: »

6% is twice as good as 3%

The average of 6% is only as half as good.

badger09

Thrugelmir wrote: »

The average of 6% is only as half as good.

Chokolate was talking about a 3% YBS Regular Saver :cool:

DreamerFTB

Thrugelmir wrote: »

The average of 6% is only as half as good.

As in the other thread, averaging the interest rate of regular safer doesn't make sense, as your not investing the full amount from day 0. The interest rate of a 6% regular saver is 6% for the amount invested in the time invested, not the average.

Also I am not sure what set we are averaging to get 3%?

qwertyqwerty

Hi there

i have opened an m & S account online, and got an email saying my pack will be arriving in the post. There has been no mention of using the switch service, will this be in the pack, or have I missed a step in my on-line application? Thanks,

badger09

qwertyqwerty wrote: »

Hi there

i have opened an m & S account online, and got an email saying my pack will be arriving in the post. There has been no mention of using the switch service, will this be in the pack, or have I missed a step in my on-line application? Thanks,

You haven't missed anything. From memory you need to phone M&S to organise the switch once you've received the pack.

MARTYM8`

My sister is going through the process of applying for an M&S current account at present - she is a keen M&S food shopper so the £125 incentive would come in handy so I encouraged her to apply.

A couple of days go she received a letter requesting proof of ID and address to support the application - which is similar to what First Direct require (certified passport/licence or HMRC document plus proof of address if replying by post) albeit you can provide originals in a branch. Not sure if that means they are minded to approve her or not?

What I found odd was that they will accept a bank statement as proof of address - but not if it is an M&S or First Direct or HSBC bank statement.:rotfl:

I found that absolutely barmy - surely knowing you are a customer of the same 'group' must be the best form of ID proof of all as they can easily verify you against their other records. The fact they cannot identify her despite being a long term HSBC current account holder and an M&S energy customer and holding an M&S credit card is even odder?

I just found it very bizarre - why won't M&S bank accept an HSBC group statement (including themselves) as proof of address?!

Bloomberg

Heng_Leng wrote: »

Their internet banking is rudimentary - a colourful First Direct.

As you need that device to login and they don't have an mobile app, it's hard to know if things have come and gone (away from home) other than getting a balance from the ATM and making a guess.

Definitely designed for retired baby boomers to keep on eye on their BTL rent payments and investment portfolios

Personally I have no experience with M&S bank but the fact that they don't have a mobile app speaks volumes. In 2015 a mobile app is not a luxury, any bank not offering this is firmly rooted in the dark ages. Given that M&S bank is part of HSBC it is reasonable to assume that when they do eventually make an app it will be totally lame.

colsten

Many people easily get by without a mobile app. I have two dozen or so current accounts and the only time I ever use a mobile app is if I am forced to by HSBC and FD (to generate a key).

Though it would be nice if M&S implemented their version of the FD app so we can get rid of that hideous number generating gadget.

piker1957

qwertyqwerty I received my pack and phoned to switch, but I was too fast off the blocks. You need to wait until the Debit Card arrives, I was advised it is necessary to call to activate the card, a process which involves speaking to a live Customer Service Agent, not the usual automated system. When making the activation call you can also provide details for the account you want to switch.

norm_

How long does the switch phonecall take? Is it another 30 minutes of them reading out T&Cs? Wish they could all be as efficient as Halifax which was just clicking a few boxes online. : )