Marks & Spencer Regular Saver

lonewolf123

Hi my regular saver with M&S is maturing next week and I was wondering if I could just open another regular saver.

The requirement to open one now is to switch a current account to them and have 2 DD's. When I opened it 1 year ago this was not the case so I did not switch and I don't have 2 DD's going through either. Am I still eligible to open a new one next week?

Thanks

Westie983

No,

The T&C's have changed and you will need to abide by them to open a new regular saver.

planteria

we can open a repeat Regular Saver using the same current account, can't we?

lonewolf123

Thanks for the reply.

I can set up two direct debits but I won't be able to switch to them since I already have one current account open (my existing one).

It would be silly to block customers like me out of it. But we'll see.

planteria

HSBC allow repeats so i'll be surprised if M&S don't.
it's the only reason i will retain the current account. if the RS is limited to one run then i'll be looking for a deal to transfer to:lovethoug.

Westie983

planteria wrote: »

HSBC allow repeats so i'll be surprised if M&S don't.
it's the only reason i will retain the current account. if the RS is limited to one run then i'll be looking for a deal to transfer to:lovethoug.

They dont require you to switch to their account to open their regular saver though, all they say it to be a account holder to be able to open one.

The T&C's changed earlier this year so this is the first batch of regular savers maturing, and the new T&C's being in place.

Can only suggest you see if it wil allow you to open when it matures and the account disappears from your online banking, looks like you can only open on the phone or in branch, I'm sure the advisers will be able to inform you further.

If you already have one of our M&S current accounts you can apply by calling 0345 900 0900 or by visiting your local branch.

Reading the T&C's I think you wont be able too, but cant hurt to ring them and ask, or when your nearest branch.

B_G_B

Westie983 wrote: »

They dont require you to switch to their account to open their regular saver though, all they say it to be a account holder to be able to open one.

They do require a switch now.
http://bank.marksandspencer.com/banking/current-accounts/existing-customers/#monthly-saver
http://bank.marksandspencer.com/pdf/CATermsAndConditions.pdf

lonewolf123 wrote: »

Thanks for the reply.

I can set up two direct debits but I won't be able to switch to them since I already have one current account open (my existing one).

It would be silly to block customers like me out of it. But we'll see.

Why not set up 2 DD's on an old account with another bank (or a donor account) and switch that to your existing M&S current account. Job done.

Westie983

B_G_B wrote: »

They do require a switch now.
http://bank.marksandspencer.com/banking/current-accounts/existing-customers/#monthly-saver
http://bank.marksandspencer.com/pdf/CATermsAndConditions.pdf

I was talking about HSBC not M&S, hence my quote to Planter.

I have already posted that you need to switch to open up the M&S regular saver.

adindas

B_G_B wrote: »

They do require a switch now.
http://bank.marksandspencer.com/banking/current-accounts/existing-customers/#monthly-saver
http://bank.marksandspencer.com/pdf/CATermsAndConditions.pdf

Why not set up 2 DD's on an old account with another bank (or a donor account) and switch that to your existing M&S current account. Job done.

I understand, when the old M&S is maturing, you will need switching a bank A/C to M&S current a/c to open another one. Does it need to be a full switching (e.g closing the old a/c) or swiching all DD/SO on the old a/c is sufficient ??

Thanks

masonic

adindas wrote: »

I understand, when the old M&S is maturing, you will need switching a bank A/C to M&S current a/c to open another one. Does it need to be a full switching (e.g closing the old a/c) or swiching all DD/SO on the old a/c is sufficient ??

Thanks

The first link posted by Westie is very clear about what using the M&S switching service involves.

adindas

masonic wrote: »

The first link posted by Westie is very clear about what using the M&S switching service involves.

Indeed I have seen that. But what I am interested to know, for new application whether. it will need to be full switching (e.g closing the account) just just SOs and/or DDs switching.

Also when I open my M&S account I did a full switching and got their £100 voucher incentive. I understand for the people in this situation they do not need to do a full switching anymore to opne a new Monthly saver when the old one is maturing. just need to make sure that they still have 2DDs active, has ai missed something here ??

thanks