M&S Bank switch

Combat66

Hi guys,
Quick question. I would like to switch my HSBC account to M&S account with the switch inventive.
It states that:
** Open an M&S Bank* current account and switch within three months, including four or more active direct debits, and you'll get a £100 M&S gift card.

** You can get another £80 gift card (£120 if you've an M&S Bank credit card) after a year if you deposit £1,250/mth, keep at least four direct debits active, and register for online banking and statements. So keep the account for a year and you could get £180 (£220 if you've an M&S credit card).

So with the 4 DD, does it have to be each month or can it have monthly as well as annual DD? I have a couple which I pay out annually so wanted to know whether they would count towards the 4 Direct Debits.

Also can I take their credit card when open the account or can I take it after the current account is up and running to get the other gift card?

Many thanks for your help.

YorkshireBoy

It seems you've only so far read the MSE article. Suggest you read the incentive T&Cs on the M&S website for full information.

Katiehound

I'm fairly sure that annual DDs are fine for M&S.....but do read the small print!

Combat66

I have checked the T&C's but it just states 4 "active" direct debits. It doesn't specify whether it is monthly or if it can be annually.
As far as I know, an active DD is actually active for 13 months to allow annual direct debits.

That's why I was wondering if someone had done the switch before could shed some light for me.

YorkshireBoy

Combat66 wrote: »

As far as I know, an active DD is actually active for 13 months to allow annual direct debits.

That's correct. If DDs have to actually pay out each month, or in some cases pay out at least once following the switch, then the T&Cs will clearly say so. The M&S T&Cs don't specify, so merely 'existing' on the account, ie not dormant, suffices.

Combat66

Ah right, was thinking so but wasn't certain.
Thank you for your help.

Isaac_:)

Has anyone who switched to M&S with their £100 + £80 gift card offer received the second gift card? I completed the switch just over 13 months ago but haven't received the £80 gift card yet. I've made sure to fulfil all of the conditions so not sure if I should get in touch with them or if I just need to be patient.