M&S switching incentive

dave_dph

Hi

I opened the M&S current account earlier this year and I'm now receiving the additional £10 monthly credit loaded onto my gift card.

As this offer has returned, mom recently opened an account and we phoned through today to activate the card and arrange the switch from Nationwide. Everything went smoothly, but during the conversation with the M&S advisor one comment has made me look back at the T's and C's. The advisor said that in order to receive the additional £10 monthly credit you have to pay in £1000 per month and maintain two active direct debits for 12 months; this I completely understand. However, something made me ask whether the two active direct debits have to be from the initial account switch, to which she said 'Yes'.

When I came off the phone I went back through the T's and C's and it just states you have to keep two active direct debits on the account, no mention of them being from the account switch! I'm a bit concerned as I have recently cancelled one of my 'switched' direct debits after closing my old Capital One credit card.

Have I missed something in the T's and C's?

http://bank.marksandspencer.com/pdf/CACass.pdf#Page=10

Thanks.

badger09

dave_dph wrote: »

Hi

I opened the M&S current account earlier this year and I'm now receiving the additional £10 monthly credit loaded onto my gift card.

As this offer has returned, mom recently opened an account and we phoned through today to activate the card and arrange the switch from Nationwide. Everything went smoothly, but during the conversation with the M&S advisor one comment has made me look back at the T's and C's. The advisor said that in order to receive the additional £10 monthly credit you have to pay in £1000 per month and maintain two active direct debits for 12 months; this I completely understand. However, something made me ask whether the two active direct debits have to be from the initial account switch, to which she said 'Yes'.

When I came off the phone I went back through the T's and C's and it just states you have to keep two active direct debits on the account, no mention of them being from the account switch! I'm a bit concerned as I have recently cancelled one of my 'switched' direct debits after closing my old Capital One credit card.

Have I missed something in the T's and C's?

http://bank.marksandspencer.com/pdf/CACass.pdf#Page=10

Thanks.

The T&Cs in your link are relevant to those who successfully apply from 19 July 2016.

The T&Cs in force when you applied could be different. Do you have them?

For example - when I come to renew my M&S Monthly Saver (assuming it is still offered), I will have to meet 2 conditions which I didn't have to meet when I opened the existing one, because they have changed the T&Cs;)

Yorkshire_Pud

Have you still got two active DD remaining on your account?

Or maybe you added another DD after closing one of the original Switch DD.

Looks to me that you need two active DD throughout the 12 months but they don't need to be the original Switched DDs as long as the account always had/has two active DD.

dave_dph

I still have two active direct debits on my account, one of which is not from the switched account. Fingers crossed I'll receive the additional £10 credit on the 15th.

I don't think I have the T's & C's from when I applied, I'll have a look. The agent on the phone was speaking in relation to the current offer; having gone though the T's & C's again, it does appear she was incorrect.

andy_s_1986

Do these direct debits have to be paid out each month or just active? I have 2 but not paid out monthly.

bxboards

I opened the 6% regular saver this morning and the agent just checked to see if I had 2 or more direct debits. The M&S account switch only completed today brining along those DDs and no DDs have paid yet so I would assume that they need to be present on the account only.