M&S Current Account

Jeems

Mchambers wrote: »

Be careful. I spoke to M&S, who told me the CCs need to pay out before you switch.

I meant once you'd switched. Do they need to pay out each month for you to get the £5 top up or do they just need to remain active on the account?

eskbanker

Jeems wrote: »

I meant once you'd switched. Do they need to pay out each month for you to get the £5 top up or do they just need to remain active on the account?

http://bank.marksandspencer.com/current-accounts/mands-current-account/:

Once you have your M&S gift card, we'll top it up with £5 each calendar month as long as a minimum of £1,000 is paid into your current account and two Direct Debits remain active – for a period of 12 months following the switch.

http://bank.marksandspencer.com/pdf/CACass.pdf:

for a period of 12 months starting with the month after the month in which the Switch completes, if between the first and last day of that month you pay £1,000 or more into your Qualifying Account (excluding internal transfers from other accounts held with us), retain two active Direct Debits from your Qualifying Account and do not breach the terms and conditions of your Qualifying Account or any associated overdraft facility, we will top up your Gift Card with £5 by the 15th of the following month.

HamsterHeaven

With the £1,000 pay in, does it mean that you can pay it in one day (say Monday) then have it transferred out the day/a few days after (eg Tues/Wednes?).

I don't want to change the a/c my salary of roughly £1000 pcm goes into

(sorry for thread hijacking

binaryuniverse

Yes. All that needs to register is that you've paid in at least £1000 over the month. It doesn't have to be £1000 all in one go either. It can be 10 x £100.

HamsterHeaven

Smashing - thanks for your help binaryuniverse

Katiehound

HamsterHeaven wrote: »

With the £1,000 pay in, does it mean that you can pay it in one day (say Monday) then have it transferred out the day/a few days after (eg Tues/Wednes?).

I don't want to change the a/c my salary of roughly £1000 pcm goes into

(sorry for thread hijacking

The £1K only needs to touch base- it doesn't actually need to stay there. I keep approx £100 residing all the time!That will cover the monthly DDs of £2.50

Once a/c is open you can take advantage of the regular saver with decent % interest.