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M&S Bank switch - 2 active Direct Debits?
Jaxer
Posts: 204 Forumite
I'm in the process of applying for the M&S bank account.
I've just opened a new donor account to switch over and set up a couple of direct debits but they won't pay out before the switch goes through.
Does anyone know who's switched recently know if "active" direct debits means ones that have been physically paid in the last 12 months, or if the fact they're "live" is enough?
(I've had a search through the board but can't see anything recent on M&S)
I've just opened a new donor account to switch over and set up a couple of direct debits but they won't pay out before the switch goes through.
Does anyone know who's switched recently know if "active" direct debits means ones that have been physically paid in the last 12 months, or if the fact they're "live" is enough?
(I've had a search through the board but can't see anything recent on M&S)
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Comments
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When I switched to them I set up two new DDs to savings accounts. They had only had one payment when the switch occurred.Paid off the last of my unsecured debts in 2016. Then saved up and bought a property. Current aim is to pay off my mortgage as early as possible. Currently over paying every month. Mortgage due to be paid off in 2036 hoping to get it paid off much earlier. Set up my own bespoke spreadsheet to manage my money.0
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Live is active as far as I know. What if they are annual direct debits for instance? Still a Direct Debit. I think Active means 'Live' furthermore as they are new direct debits and should the day come that they are called upon, they will successfully be taken.
Or rather, when you switch, they will become 'Active' - Or so I have been led to believe. Someone more knowledgeable will be around shortly.
Just my thoughts on it.0 -
had direct debits with E.On, and NPower switched across when I switched accounts from Lloyds to M&S Bank.
NOw I've changed gas and electric suppliers. is it okay to have new Direct debits and cancel the old ones?0 -
had direct debits with E.On, and NPower switched across when I switched accounts from Lloyds to M&S Bank.
NOw I've changed gas and electric suppliers. is it okay to have new Direct debits and cancel the old ones?
You can change DDs as much as you want, you just need to have two/four active on the account at any one time in order to remain eligible for the £5/monthly top up for the gift card (depending on which T&Cs your switch offer falls under). If you don't want/care about the extra top ups and want to just take the £125 and run, then you can cancel the DDs once you've received the gift card.0 -
To return to the OPs post: Best let the DDs draw before the switch date to be on the safe side.0
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