M&S Bank Current Account

aj23_2

I'd like to open an account to make use of the regular saver but I'm not interested in jumping through the hoops for the gift cards. I don't meet the DD requirement anyway and not bothered about them. Literally just want to use it to fund the RS.

Can I do this? Or do I still have to pay in £1,250 and have 4 DD to maintain/operate the account?

[Deleted User]

Of course you do

But that means setting up Direct Debits - which are prone to failure (apparently).

I'm not sure if M&S offer cheques either...

You asked the same about FD as well - https://forums.moneysavingexpert.com/discussion/5947395/first-direct-current-account

polymaff

Gosh! We've had many hundreds of pounds in vouchers by jumping through those hoops - plus the attractive Regular Savers.

Forgotten how to actually spend money at Marks.

And don't the DDs only have to be active? If so, no probs.

colsten

aj23 wrote: »

I don't meet the DD requirement anyway and not bothered about them

In which case, you are not eligible for the M&S RS.

aj23_2

colsten wrote: »

In which case, you are not eligible for the M&S RS.

It implies that you need to pay out the direct debits to get the vouchers, but if you don't want the vouchers... ?

"Once you’ve switched using the Current Account Switch Service, including four active Direct Debits, we’ll send you a £100 M&S gift card. And that's not all. If you meet our switch and stay criteria, you will receive an additional M&S gift card. New customers will receive an £80 M&S gift card and existing credit card customers will receive a £120 M&S gift card."

Also, their website says 2 DD but MSE says 4 DD? I wouldn't be looking to switch either, just open a current account.

aj23_2

!!! wrote: »

Of course you do

But that means setting up Direct Debits - which are prone to failure (apparently).

I'm not sure if M&S offer cheques either...

You asked the same about FD as well - https://forums.moneysavingexpert.com/discussion/5947395/first-direct-current-account

Yeah, because this isn't attitude :rotfl: Again if people can't answer a question, why bother replying.

Also, I asked a different question about FD, and I got useful and attitude free answers.

ceredigion

You haven't reed the T&Cs relating to the RS have you.

aj23_2

ceredigion wrote: »

You haven't reed the T&Cs relating to the RS have you.

It's all a bit convoluted. You can only have the RS if you switch a current account which has 4 DD, but only need 2 DD in order to qualify for the RS?

ceredigion

aj23 wrote: »

It's all a bit convoluted. You can only have the RS if you switch a current account which has 4 DD, but only need 2 DD in order to qualify for the RS?

It has been some time since I read them but, I seem to think the requirement for the RS is to switch an account and have two active DDs. That is it, are you reading things that are not there.

aj23_2

ceredigion wrote: »

It has been some time since I read them but, I seem to think the requirement for the RS is to switch an account and have two active DDs. That is it, are you reading things that are not there.

Where am I reading things which aren't there exactly:

Current Account:
"Complete a full switch through the Current Account Switch Service, including a minimum of four active Direct Debits"
https://bank.marksandspencer.com/current-accounts/mands-current-account/

Regular Saver:
"Only available to current account customers who have switched to us using the Current Account Switch Service and have two active Direct Debits."
https://bank.marksandspencer.com/save-invest/monthly-saver/

Silver_Queen

I believe they recently (a couple of months ago) updated it from 2 DD to 4 DD. Could be that they haven't updated the T&C properly or that the T&C for the RS mysteriously remain un-updated.