M&S Bank Monthly Saver

planteria

i hope you are right Steve.. and that is certainly sensible logic.

and i have always found them to be very slow and thorough Nicholas.

the RS is a good rate, but i wouldn't mind chopping it in & moving for an account incentive, if there was something good to be had:undecided

Rich2808

If you are able to I would recommend dealing with M&S in a branch if you have one nearby. I did my switch and regular saver opening via the Marble Arch branch. It is such a quiet oasis in a busy shop. I even got a bottle of sparkling water and some free chocolates on both visits while I waited to see a banking adviser - within 5 minutes one was free. I was shopping there anyway and I turned up at lunch time.

You might assume Marble Arch would be their busiest branch in the UK but on a weekday lunchtime I only saw five other customers in the half hour I was there.

Nationwide8

Steve_xx wrote: »

then of course there's always the option to switch away from M&S and earn yourself a switching bonus for doing so. Then of course there's the other nice little earner in going back to them, and, assuming that their very good switching incentive is still in place, then you can take advantage of that. Therefore there is a very fair dual gain to be had!

Can you get more than one switching bonus from M&S ?

ceredigion

Nationwide8 wrote: »

Can you get more than one switching bonus from M&S ?

Only if you are a dab hand at reincarnation

pavane

Putting the switch condition is unlike others. Adding requirements like DD is fine. Rewarding new customers with switch bonuses is fine. Discriminating against customer loyalty is just stupid. M&S's recent addition to the switch bonus where they also give a 10/month payment if you transfer a certain monthly amount was the start of a similar discrimination. This can be marketed/dressed up in much better ways, as it stands it is becoming more about !!!!ing off loyal customers than enticing new ones.

And yes, their lines are terrible but only because they insist on so much unnecessary interaction. Their online system with silly digipass is stupid. They send too much paper. It's almost as if they're trying to be the most difficult/annoying bank.

No_6

1st MS saver finished 4th Feb. phoned yesterday. 5th and opened another 12month- 6% saver.
All set up fine, no DD,s required, max £250 SO up and running for another 12 months.
Had to listen to all the legal stuff, that went on for ages .

djpailo

No_6 wrote: »

1st MS saver finished 4th Feb. phoned yesterday. 5th and opened another 12month- 6% saver.
All set up fine, no DD,s required, max £250 SO up and running for another 12 months.
Had to listen to all the legal stuff, that went on for ages .

Not sure what else you were expecting . These new rules come in from the 6th April.

planteria

agreed. all as you would expect.
still nothing appealing about M&S Bank beyond the RegSaver.

Ashen

My current saver ends 8th April. DD's should be fine, but I never did a switch for this account. Hmm. Wonder what I can do.

murmeltier

They refused my request to open a Regular Saver when I phoned the other day, citing the new conditions (my current account was opened 10 days ago, switch not complete yet, no DDs active yet).

When I queried whether these conditions had already become active, they said yes, on the 5th of January.

I've been sent so much paperwork and so many different sets of T&C from M&S over the last few weeks that I've lost track what's what, but apparently new current account customers now must complete a switch and have 2 DDs active before they will let you open a Regular Saver.

Their website also now clearly mentions these conditions.

Once my switch completes, I'll ring them again ... still annoyed I've had to waste 20 mins on the phone (mostly waiting)