M&S Switch

vernall

Hey guys,

Just want to check I am reading something correct.

The only bank I have not done a switch to is M&S,I have an account I can switch to it that has 1 direct debit that pays out monthly and another direct debit that pays out every 12 months......Does this meet their criteria to get the £125 gift card and monthly £5 top up(for paying in £1000) and access to their regular saver?

radoslaff

If both DDs have been paid at least once in the last year, you qualify for the £125 incentive. For the monthly £5 you'll have to keep the DDs and pay in at least £1000 every month. If you don't do it, you won't get the £5. Easy and simple, isn't it? You don't need the pay in for the 5% reg sav though.

beefturnmail

Do you need the active dds for the Regular Saver?

binaryuniverse

beefturnmail wrote: »

Do you need the active dds for the Regular Saver?

You need them for the switch. Once it has been set up, I don't think it would matter. But it's best to keep them on your account to keep getting the £5 gift card top up. They don't need to pay out monthly to be active for M&S.

radoslaff

You don't need the DDs for the Reg Sav. You definitely need them together with the monthly £1000 for the £5 though.

AirlieBird

radoslaff wrote: »

You don't need the DDs for the Reg Sav.

Erm... Yes you do.

M&S Monthly Saver
Conditions: You must have an M&S current account (which you switched from another provider through the Current Account Switch Service and which has a minimum of two active Direct Debits in place) and be resident in the UK.

If you don’t meet all conditions at any time, we’ll close your M&S Monthly Saver and pay your savings into your M&S Everyday Savings Account or, if you don’t have one, your M&S current account before we close it.

https://bank.marksandspencer.com/pdf/CAandMSTermsAndConditions.pdf

binaryuniverse

Well shut my mouth.