M&S Switch voucher now £220

ajsexton

Im looking at switching to M&S and I have a slight variant on a situation to any I've noticed online.... and just want to clarify it before I start going ahead ... I have 2 (actually I might even have 3) current accounts with Natwest, only 1 is in active use.

If I transfer a bit of cash and 2 DDs to the other Current Account and then switch that, will it definitely only close the 'spare' current account I have?

I then plan just standing order 1K back and forth monthly... will this work?

badger09

ajsexton wrote: »

Im looking at switching to M&S and I have a slight variant on a situation to any I've noticed online.... and just want to clarify it before I start going ahead ... I have 2 (actually I might even have 3) current accounts with Natwest, only 1 is in active use.

If I transfer a bit of cash and 2 DDs to the other Current Account and then switch that, will it definitely only close the 'spare' current account I have?

I then plan just standing order 1K back and forth monthly... will this work?

The only Natwest account which will be switched, is the one you specify during the switching application.

You could simply transfer £1k in and out again monthly, or you could take advantage of the M&S Monthly Saver, paying 6% on up to £250 per month;)

zolablue25

Apologies if this has been asked before but could someone clarify what M&S regard as " two active direct debits"? Does that mean they have to go out each month? We use DD for credit card payments but we don't always use more than one card.

Cheers

YorkshireBoy

zolablue25 wrote: »

Apologies if this has been asked before but could someone clarify what M&S regard as " two active direct debits"? Does that mean they have to go out each month? We use DD for credit card payments but we don't always use more than one card.

Cheers

If a DD has to pay out (as they do for Halifax & Lloyds) the T&Cs will clearly say so. The M&S T&Cs place no such requirement.

joe134

jimmy495 wrote: »

its just the £100 only one

then as soon as you get the £100, you can switch again, the new one ties you in for 12 months with the £10 pm incentive, otherwise, I wouldn't be switching.

colsten

joe134 wrote: »

then as soon as you get the £100, you can switch again, the new one ties you in for 12 months with the £10 pm incentive, otherwise, I wouldn't be switching.

There is no 12 months tie-in.

They simply put an additional £10 on your card for any of the next 12 months in which you meet the conditions for the £10. These are easy enough to meet and it seems a shame to turn down what is effectively £120 free money.

http://bank.marksandspencer.com/pdf/CACass.pdf

Nicholas

zolablue25 wrote: »

I received an email from M&S saying my application was successful and the paperwork is in the post. No mention of a telephone interview.

That's just the paperwork to open your M&S account - you will need to ring them and sit through a 30-45 'chat' in order to switch accounts, that's if you want the £100 gift card and the chance to qualify for the extra tenner a month.

zolablue25

Paperwork arrived today. I'll get that sent off then, presumably, I will be sent my account details. I will then "enjoy" the phone call to transfer my Halifax account.

zolablue25

Nicholas wrote: »

That's just the paperwork to open your M&S account - you will need to ring them and sit through a 30-45 'chat' in order to switch accounts, that's if you want the £100 gift card and the chance to qualify for the extra tenner a month.

Indeed, but posters earlier in this thread commented that they had to go through a phone call for setting the account up. That is the phone call I was referring to.

murmeltier

I've finally taken the plunge and applied online for a sole account ... we'll see what happens. Hopefully it will go smoothly i.e. without the dreaded phone interview ...

What's the curren wait until I can expect to hear from them?