M & S Bank have cut their 5% regular savings rate

sheffieldeagle

Fingerbobs wrote: »

I'm in the same boat, gradually struggling through the treacle that is the M&S application process.

I'll ask them if they'll honour the rate in force at the time of application, but my hopes aren't high.

Slightly off-cheesing, but not unexpected.

I'm also in this over-crowded boat. Applied for a regular saver on the 13th but received no confirnation of receipt of my application since. Spoke to a customer service guy yesterday but he was unable to confirm progress on my application or in deed confirm they have received it. I did read on these forums that someone managed to get them to honour the application rate so there is some hope.



Cheers

where_are_we

Why would you give M&S monthly saver the chop when it comes up for renewal. OK the interest rate will drop from 5% to 2.75%, but you have done all the hard work to set it up originally and it is a quick process to set up a new one. The new rate is still better than the average regular saver.

Katiehound

where_are_we wrote: »

Why would you give M&S monthly saver the chop when it comes up for renewal. OK the interest rate will drop from 5% to 2.75%, but you have done all the hard work to set it up originally and it is a quick process to set up a new one. The new rate is still better than the average regular saver.

Absolutely true but for anyone about to bail out maybe consider keeping the account ticking over (the current a/c I mean not the RS!) until a shiny new switch offer comes along because then you'll be able to hopefully get a welcome bonus.
Never close a current account- keep them, then groom according to the new t&cs!

sheffieldeagle

Hi


Anyone hoping to have got their application in before the change in rate and like me were thinking they may have missed out due to the delay. I've just had an e-mail confirming my account is open (I opened mine on the 13th) and looked online to find it's at the old rate of 5%.


Cheers