M&S Bank Not Great

datlex

I recently switched one of my accounts to M &S Bank. I can't say I am impressed by them. The lack of a proper mobile banking app is disappointing. Though, I can log in via my mobile browser. It is annoying to have to use the pin generator every single time I want to log in. I am wondering how long it lasts for and what happens if it stops working, i.e. how long will a replacement take and hence how long would I be unable to access my account. Most recently I have been annoyed by their handling of a payment I made manually. Funds were in my account so I made a manual payment to one of my accounts, it did not reach the account having been reversed. I tried again same thing. So I sent to a different account, this time it was fine. M & S in their wisdom then decided late last night to transfer the original money that they had reversed, nearly causing me to go overdrawn- fortunately I check my accounts daily. I was thinking about opening the linked savings account and drip feeding it from another account. However this is putting me off.
What are other folks experience of M & S bank?

badger09

I have it as one of my many current accounts. Opened originally for the gift card but retained because of the linked regular saver.

I dislike the widget with a vengeance but as I don't use the account very much, and certainly not as my 'main' account, I put up with it. Once automated by incoming SO a few days before SO to regular saver, it works fine. I top it up occasionally if I know I'm likely to shop in M&S, otherwise it runs with a sub £10 balance. Works fine for my purposes:)

System

They are HSBC in colorful clothing - always remember that.

Lrimas

Not impressed with them at all. They send you a letter if you are overdrawn instead of a text/email.

They also force you to speak to them if there is a potential fraudulant transaction instead of doing a text. This is particularly embarassing for me as I use it for matched betting. "Yes, I did spend £500 at Ladbrokes..."

soulsaver

Heng_Leng wrote: »

They are HSBC in colorful clothing - always remember that.

True, but you can log-in without the pass thingy with HSBC... and with First Direct - so why not with Marks?

colsten

Lrimas wrote: »

They also force you to speak to them if there is a potential fraudulant transaction instead of doing a text. This is particularly embarassing for me as I use it for matched betting. "Yes, I did spend £500 at Ladbrokes..."

Lots of banks want to talk to you, randomly, if you have betting transactions.

colsten

I have the M&S current account as they paid me £220 to have it, and because I love their 5% Regular Saver. They also paid me an extra £25 when I took out their credit card which I had only taken out because they had a signup-offer. Their secure code gadget is a PITA and I would never use the account as a regular current account whilst they insist on this hideous contraption but I will certainly keep the account because of the Regular Saver.

Katiehound

colsten wrote: »

I have the M&S current account as they paid me £220 to have it, and because I love their 5% Regular Saver. They also paid me an extra £25 when I took out their credit card which I had only taken out because they had a signup-offer. Their secure code gadget is a PITA and I would never use the account as a regular current account whilst they insist on this hideous contraption but I will certainly keep the account because of the Regular Saver.

Ditto!
Plus I had no real intention of using their CC but at Christmas they were giving extra points on outside M&S shopping and it was a better deal than other cards I had- so I used it for a couple of months.
It is certainly not my main a/c, but for freebies- well, a goodie

Mchambers

I am in the process of transferring one of my bank accounts to M&S for their transfer bonus. I am transferring across 2 DDs so I should get their £50 bonus gift card. After that, I will create a SO for £1000 per month in order to get £5 per month added to my gift card.

I will also get their 5% regular saver account,

Doing very well at moment as I have got £100 bonus for transferring to H/fax, should get £110 bonus for transferring to Coop, getting over £4 per month for the Co-op everytime awards, getting £3 per month with H/fax rewards and I have just asked for 1.05% Saisnburys esaver savings account. My only DDs are payable to my bank accounts at Tesco.

Thanks MSE for the advise.

Snakey

While I like the introductory offers from all these banks I am looking forward to them all running out so that I can go back to the simpler, easier days of having all my money and bills in one place.

Whether it's worth keeping them all open for the regular savers alone, I don't know. (On my "to do" list is to check the T&Cs for all these accounts to see whether I have to keep paying the two direct debits and minimum pay-in for the whole time I have the regular saver, or whether that just has to be true on the day I open it.)

Having tried several banks over the last year or so in the quest for free money and free stuff, I can say that M&S is not one of my favourites for ease of use. However, if you have never tried to open and switch to an HSBC Advance account you honestly don't know you're born.

isasmurf

Mchambers wrote: »

I have just asked for 1.05% Saisnburys current account.

Huh? Sainsburys don't have a current account. :huh: