M&S DD's for bonus and regular saver ?

buyhighselllow

Hi

DAK if the 2 direct debits have to be monthly for this account..? Its says "2 active direct debits" so wandering if I could get away with a quarterly or annual one's as getting a short of ones I can shuffle.

Also, do you need to have 2 DD's to get the 5% regular saver ?

Cheers

Katiehound

Active DDs can be annual, quarterly, monthly....... whatever for M&S.
T&cs- I don't know! But I still have £1k circulating and 2 x annual DDs to keep account open with access to their RS.

badger09

buyhighselllow wrote: »

Hi

DAK if the 2 direct debits have to be monthly for this account..? Its says "2 active direct debits" so wandering if I could get away with a quarterly or annual one's as getting a short of ones I can shuffle.

Also, do you need to have 2 DD's to get the 5% regular saver ?

Cheers

You definitely need 2 active DDs when you open the Monthly Saver.
You also need to have switched a current account to them

https://bank.marksandspencer.com/save-invest/monthly-saver/

There is nothing in the T&Cs which says you have to keep the DDs paying regularly, but as Katiehound says, they only have to be active.

In which case, why take the chance - just use annual DDS;)

sparkiemalarkie

Just this minute spoken to M&S bank re DD's.
The direct debits need to pay out at least once in every 12/13 months to keep them 'active'.
They don't need to pay out every month.


HTH


sparkie


ps you must have 2 dd for the regular saver

buyhighselllow

cheers !

got some wriggle room then when the switch is complete

buyhighselllow

Finally got this account open..DAK if the DD's have to transfer in with the switching account or can they be set up separately to get the £125 in vouchers ?

Mchambers

Nice and easy for my M&S gift card.

YorkshireBoy

buyhighselllow wrote: »

Finally got this account open..DAK if the DD's have to transfer in with the switching account or can they be set up separately to get the £125 in vouchers ?

Answered in condition 2(b) of the incentive T&Cs.

Rich2808

You need to have 2DDs as well to use the regular saver - and they need to stay active for the 12 month period or they could in theory close the account. One of mine is for monthly payment for my M&S credit card which has 32 months interest free on purchases!