Which Account to Close via Switch?

Cotta

Hi All,

I have attained two bank accounts via the switching process (a) a basic NatWest account (the non fee account) and (b) a Tesco Current account (Currently paying 3% but due to drop shortly. I am going to switch to M&S but which of these two account should I close as part of the switching process? Both accounts have three direct debits assigned to them so there is no difference in this regards.

Probably a pointless question but I wanted to double check.

Thanks in advance

[Deleted User]

Whichever one you want to

PRAISETHESUN

No difference - but make sure that you have four active DDs for your M&S bank switch, if you care about getting paid the switch incentive...#

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

Socajam

Question: Is switching banks really worth all the hassle, seems to be its the banks that are yanking our chain.
For example M&S switch:

£220 M&S gift card exclusively available for existing M&S Credit Card customers who switch and stay. 19.9% APR representative variable.

Gift card - how is M&S losing if the card can only be used in their stores.
19.9% APR - I am sure one can obtain cheaper rates than this.

What happens if one does not stay - how long is the "stay"?

Zanderman

Socajam wrote: »

Question: Is switching banks really worth all the hassle, seems to be its the banks that are yanking our chain.
For example M&S switch:

£220 M&S gift card exclusively available for existing M&S Credit Card customers who switch and stay. 19.9% APR representative variable.

Gift card - how is M&S losing if the card can only be used in their stores.
19.9% APR - I am sure one can obtain cheaper rates than this.

What happens if one does not stay - how long is the "stay"?

How long? It tells you if you read the offer.

Are switches worth the hassle? Yes, as for most there is no hassle.

M&S is one of the most complex. Meanwhile, over at Santander people are making hundreds of £ simply by making very simple switches in. You don't want hassle? Don't choose M&S, but even that's simple enough to cope with for most.

PS and the credit card apr is not an issue, you don't have to actually use it.

xylophone

You might go over to the referrers' board and benefit from an Amazon voucher through Santander?