M&S switch - applied just now - will reply within 48hrs - left it too late?

JesseJames_2

Have just applied for the M&S current account in my name.

They will reply with 48 hours by email with a yay or nay?

Have I left it too late to switch?
When they reply by email, will I have enough info to start the switch? (assuming I am accepted)

The other reason I ask, is that my wife was going to do the same in her name, and don't really want another credit search unnecessarily.

YorkshireBoy

From the application page on the M&S website...

"...apply through MoneySupermarket or Money Saving Expert between 17 February and 31 March 2015 and receive a £125 M&S gift card"

The first word in that sentence is the important one! I've made it big and bold so it's easier to see.

Re the credit search...perhaps you're unaware that, although you'll incur a financial associate search, this search is an unrecorded one, meaning it's not seen by anyone but yourself and the CRA?

ccdorset

I've also just applied for the M&S account.

I've got a Flex Plus account with Nationwide, which I am planning to switch to M&S. However I don't have any direct debits set up on the account. I literally just pay £10 per month into it for the Flex Plus benefits every month. Would I still qualify for the £125 even though I have no salary or dd's on that account?

Thanks

YorkshireBoy

ccdorset wrote: »

I've also just applied for the M&S account.

I've got a Flex Plus account with Nationwide, which I am planning to switch to M&S.

So you'll have read the switching incentive T&Cs then?

However I don't have any direct debits set up on the account. I literally just pay £10 per month into it for the Flex Plus benefits every month. Would I still qualify for the £125 even though I have no salary or dd's on that account?

Are there any requirements stipulated in the switching T&Cs relating to either a) salary, or b) direct debits, or c) standing orders, or d) anything else for that matter?

JesseJames_2

YorkshireBoy wrote: »

From the application page on the M&S website...The first word in that sentence is the important one! I've made it big and bold so it's easier to see.

Re the credit search...perhaps you're unaware that, although you'll incur a financial associate search, this search is an unrecorded one, meaning it's not seen by anyone but yourself and the CRA?

You know, I read that as applying for the switch itself, and I still see that as the condition on the M&S landing page - that's how I read it.


However, on the full T&Cs, it is crystal clear that it is the date of the application for the Current Account that is the qualifying condition.


Credit Search - Yes, I read your other comment on another thread about that. We were wary of applying for too many donor accounts, but that seems to be a moot point now.
If you apply for an overdraft with the CA then I believe that is a different story.

ccdorset

YorkshireBoy wrote: »

So you'll have read the switching incentive T&Cs then?Are there any requirements stipulated in the switching T&Cs relating to either a) salary, or b) direct debits, or c) standing orders, or d) anything else for that matter?

I did read the T&C's , but it all seems too good to be true!

MARTYM8`

The offer on the M&S site for the £125 gift card for MSE and MS applications has very clear terms about opening the account by 31 March - which on the terms stated means not just applying but also having met and cleared their ID requirements (i.e. in effect the account is approved and open). You then have 6 months to switch to get the £125.

If you don't get approved electronically immediately they will in my experience review your application send a holding email and then within 3-4 days if still willing to go forward write to you asking to send in ID/visit a branch to provide ID. Now if that applies to the OP under that offer the terms won't technically have been met by 31 March.

Also despite applying via MS they still wrote to me saying if I switched I would get £100 - not £125 - so you may need to remind them of the route you applied via (keep copies of the webpage/downloads) to get the £125.

http://bank.marksandspencer.com/pdf/CACass125.pdf#page=8

How strictly they will interpret this - who can say!

"1. If you meet all the following requirements, you will
qualify for the switching offer described in clause 2
below:
a) you must apply for and successfully open, an M&S
Current Account (“Qualifying Account”) between
17 February 2015 and 31 March 2015.
This means that:
• you must have met all our identification and
address verification requirements and the
account eligibility criteria;
• you must apply by clicking on the link to our
site from either MoneySupermarket
(moneysupermarket.com) or Money Saving
Expert (moneysavingexpert.com) and then using
the ‘Apply now’ link provided on the webpage;
b) within 6 months from the date you opened the
Qualifying Account you must have switched your
account to us using the Current Account Switch
Service. You must complete a full switch of your old
bank account to M&S Bank through the Current
Account Switch Service initiated through our bank
branches or by calling us on 0345 900 0900."

anotheruser

Thanks.

If you have 6 months to switch, then I will apply now. I should be paid the £150 by Yorkshire Bank so I'll switch as soon as that's done and dusted. I didn't mind waiting as the extra £25 isn't a huge amount, but bonus

JesseJames_2

Thanks for that Marty, so it needs to be fully open by 31st.
They did say within 48 hours, and I can't see them requiring additional ID.

MARTYM8`

JesseJames wrote: »

Thanks for that Marty, so it needs to be fully open by 31st.
They did say within 48 hours, and I can't see them requiring additional ID.

Well hope it works out - I am an HSBC and FD customer and they still asked me for ID so who can say.

Either way you will get a free £100 - as that offer will carry on no doubt - with potentially an extra £25 on top. So its not a major disaster - and there is their 6% regular saver too.

ccdorset

Have you heard anything from M&S yet JesseJames?

I too was told 48 hours when I applied online on Saturday, but still not heard anything yet. I didn't even receive a confirmation e-mail from them.