HSBC , M&S, First Direct acceptance criteria

rosalinda88

I opened an account with M&S this month.

A year ago, I was rejected by First Direct.

A year and a half ago, I was rejected by HSBC.

These 2 banks are the only ones to have rejected me. Over the years I have banked with about a dozen institutions, including all the usual/big ones as well as a few of the smaller/niche ones.

I know FD is particular picky and rejection isn't uncommon (although in my case I don't know what their problem was) and HSBC has an odd criteria for the type of clients they accept and reject going by what has been revealed in investigations in recent years.

Should I take my acceptance by M&S as an indication the HSBC group/affiliates have warmed up to having me as a customer or is this unrelated because M&S sets the bar lower?

starM

How long it took for a decision to be made on your M&S application?

If it was just next day email then I will guess it was not referred. It was accepted immediately. M&S and FD both come with £500 OD as a standard. I will say as you have been accepted for M&S you should not have a problem with FD application.

rosalinda88

I applied to M&S online. I received an email next day, which required calling "to discuss the application" but this turned out to be no more than confirming details I had put in online. This seemed to be routine, it wasn't with a special department and M&S seem to be telephone-heavy as I found out in later stages e.g. switching. Overdraft was offered during the application online, I opted not to have it.

With FD it was an instant online rejection.

starM

Ohh that's really strange when you have been accepted by M&S - Best write and appeal against it and enclose your bank statements.

meer53

starM wrote: »

Ohh that's really strange when you have been accepted by M&S - Best write and appeal against it and enclose your bank statements.

Why would you send bank statements ? They're not needed when applying for an account.

colsten

starM wrote: »

Ohh that's really strange when you have been accepted by M&S

I don't think it's strange. They are all different banks, with different acceptance criteria. If they were all the same, there would be little point in having 3 brands, 3 lots of Management, 3 lots of operations.