M&s current account

Leeds2626

I currently have a Santander account and earn approx £5 cashback after the fee's.

Is the m&s current account the best to switch to at the moment ? I shop there so the 'switching cashback offer' on a gift card doesn't bother me.

DCFC79

Check what the hsbc and halifax offers are ?

Ill leave it to you to decide whether they are better than the M&S offering.

20aday

Halifax are currently offering £100 to switch to them (unless you've opened an account since January 2012 and received £100 from them previously).

If you pay a minimum of £750 into their Reward Current Account and pay out a minimum of two Direct Debits you can earn £5/month (£3/month from next year).

HSBC are offering £150 to switch to them and if you stay with them for 12 months a further £50.

First Direct (a subsidiary of HSBC) are offering £100 to switch to them so long as you're a new customer and pay £1,000 in within three months.

Marks and Spencer are offering £120 on a gift card with a further £10/month/12 months so long as you pay in £1,000/month and pay out two active Direct Debits.

where_are_we

I switched from Santander to M&S a few months ago.£220 in M&S vouchers as long as you keep the account open for 12 months and put in £1000 every month as well as 2 Direct Debits and a 5% fixed monthly regular saver for £250. It was the best switch for me. Be prepared for a lot of post.

RacingDriver

20aday wrote: »

First Direct (a subsidiary of HSBC) are offering £100 to switch to them so long as you're a new customer and pay £1,000 in within three months.

If you use this MSE link - http://www.moneysavingexpert.com/redir/971055e7 - then the First Direct switching bonus is increased from £100 to £125.

bigadaj

DCFC79 wrote: »

Check what the hsbc and halifax offers are ?

Ill leave it to you to decide whether they are better than the M&S offering.

Why choose?

dm19

can you still get the £10 monthly reward after 12 months? or does it stop after a year?

RacingDriver

dm19 wrote: »

can you still get the £10 monthly reward after 12 months? or does it stop after a year?

Max £220 - £100 and then £10 per month for 12 months

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

where_are_we

M&S £10 a month stops after a year. My 5% fixed regular saver will also end after a year. I will move on to the best available switching deal package in a years time.

Zanderman

where_are_we wrote: »

M&S £10 a month stops after a year. My 5% fixed regular saver will also end after a year. I will move on to the best available switching deal package in a years time.

You can start another 5% regular saver as soon as the old one ends (assuming they still offer it then). The 12 month ending of that isn't necessarily a contributary reason for switching - it's just the anniversary of a 12 month account and you just open a new one.

Indeed I wish I still had an M&S account (I switched out back in 2015). I'm planning on opening a new one (despite not eligible for another switch incentive) just to get access to the reg saver. Every little helps!

johnac

If you value using a mobile banking app don't switch to M&S for your main account, it's very basic, you can only check your balance and last 5 transactions. Nothing else.