M&S bank switch now requires 4 DDs

PRAISETHESUN

l966dpy wrote: »

I am looking to go for the £125 give card just opened a new account to use for the switch for the 4 active DD's ill need to set them up does it matter if they have never paid out yet or never will for example if I set up a direct debit for my credit card that has a £0 balance will that class as an active DD thanks

M&S Bank classes a DD as active if it has paid out at least once in the last 13 months. If the DD has just been set up and hasn't paid out, I suspect it won't count for the switch incentive. Easiest way would be to make a low value transaction on your credit card and let the balance repayment DD pull, prior to making the switch.

Cotta

The four DDs rules me out, is there anyway to create a dummy 4th? I have three at present.

PRAISETHESUN

Cotta wrote: »

The four DDs rules me out, is there anyway to create a dummy 4th? I have three at present.

https://forums.moneysavingexpert.com/discussion/5734632

Might have a few ideas that you've not thought of

System

so looking at https://littledebits.co.uk/Direct-Debits-and-Charity


are ASAP Direct Debit 1: Black, ASAP Direct Debit 2: Blue, ASAP Direct Debit 3: Green, ASAP Direct Debit 4: Orange

all classed as different direct debits so it would meet the terms for the 4 active direct debits if I made sure first payment had been took before switching ?

and also is ASAP One Off (Charged Once) still be shown as active after first payment

thanks

PRAISETHESUN

I don't have any experience with littledebits, and I probably wouldn't recommend them as you can set yourself up a few DDs with little effort for free (PO Saver, BM Saver, PayPal and a credit card repayment being four really easy ones to set up).

From my understanding, and a bit of anecdotal evidence from the forums here, you need 4 mandates on your account to qualify for the incentive - I'm willing to be corrected on this however. A single mandate paying out multiple times won't satisfy the conditions for multiple DDs...

Katiehound

for M&S an annual DD will work (doesn't need to be a monthly one) so maybe think TV, breakdown, subs to clubs / charities.

There are lots of small monthly DDs possible: several charities accept £2, Birmingham midshires &/or Saga savings, Park (not covered by financial services, but it only totals £20 over year).........

xylophone

My annual (charity) DD and M&S credit card DD (occasionally used) give eligibility for the Regular Saver.

OceanSound

xylophone wrote: »

M&S require that the DDs be active, not necessarily monthly paying.

PRAISETHESUN wrote: »

M&S Bank classes a DD as active if it has paid out at least once in the last 13 months. If the DD has just been set up and hasn't paid out, I suspect it won't count for the switch incentive. Easiest way would be to make a low value transaction on your credit card and let the balance repayment DD pull, prior to making the switch.

Has anyone received the gift card top-up this month?
From previous experience, it's usually topped up between 07th - 12th of each month. Terms say 15th latest.
Slightly worried becuase last month only 1 of my DD's actually paid out. Although I have several active (2 active DD's was the requirement when i signed-up).

beefturnmail

OceanSound wrote: »

Has anyone received the gift card top-up this month?
From previous experience, it's usually topped up between 07th - 12th of each month. Terms say 15th latest.
Slightly worried becuase last month only 1 of my DD's actually paid out. Although I have several active (2 active DD's was the requirement when i signed-up).

Pointless worrying about it now as there is nothing you can do about it until after the 15th. Then if it still hasn't been topped up, take it up with M&S

OceanSound

I received the SMS notification from M&S bank on 15th. Usually I receive this much earlier.

Anyway, checked gift card balance online today and it has been topped-up by £10.

No need to contact M&S support. Phew!.