M&S bank switch now requires 4 DDs

PRAISETHESUN

FYI - I just noticed that the T&Cs for the M&S bank switching bonus have changed... they now require FOUR active direct debits! Not sure how this will affect existing customers... they sure don't want to make things easy for us anymore

The 5% regular saver seems to still only need 2 DDs for now, but you need to switch to be eligible for it anyway...

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

beefturnmail

Yes, the ship is slowly sailing on the using current accounts for savings game

radoslaff

I was just on the phone with M&S Bank. They assured me that if you've applied and switched before the change you'll still be eligible under the old conditions.

PRAISETHESUN

radoslaff wrote: »

I was just on the phone with M&S Bank. They assured me that if you've applied and switched before the change you'll still be eligible under the old conditions.

It'd be good to get that in writing so they can't backpedal on it later, but that's still a relief

radoslaff

PRAISETHESUN wrote: »

It'd be good to get that in writing so they can't backpedal on it later, but that's still a relief

Well, I don't think they will backpedal on it for the existing customers. My situation was a bit different though as my switch just went through today and I was quite shocked when I realized there was such a change. I'll just wait and see if I'll get the gift card. If so, everything's perfect.

Sea_Shell

The cynic in me thinks they've delayed account openings...so I've been unable to initiate a switch yet, but applied weeks ago.

*** em.

aj23_2

Yeah this won't apply if you're already with them.

I opened my Tesco Bank current account before they imposed 3 DD's and £750 pay in and I wasn't affected by the changes made.

alandaniel132

just message them via internet banking message to confirm this

alandaniel132

they replied: Don't worry, the new T&Cs changed recently, so no changes for you

alandaniel132

settled, stick back to 2 DDs for old customer

telemarks

Ws just looking to apply for this myself, and glad I spotted the new requirement of 4 DD's, which as well as the £125 bonus, also applies to the £5 monthly bonus for new switchers.

£185 M&S gift card. Once you’ve switched using the Current Account Switch Service, including four active Direct Debits, we'll send you a £125 M&S gift card. But that's not all. Once you have your M&S gift card, we'll top it up with £5 each calendar month as long as a minimum of £1,250 is paid into your current account and four Direct Debits remain active

https://bank.marksandspencer.com/current-accounts/mands-current-account/landing/apply-now/
https://bank.marksandspencer.com/pdf/CASwitchingguide.pdf



Looks like the MSE page needs an update:
https://www.moneysavingexpert.com/banking/compare-best-bank-accounts/#mands