Regular Savings Accounts: The Best Currently Available List!

KTF

Thats what I thought as its just a re-skinned HSBC/FD system and thats how they work.

Not sure how they can do that when you open both the current account and monthly saver at the same time online as you wont be able to fund it.

Frogletina

Ed-1 wrote: »

Nothing like following their own terms and conditions...

"You must open your M&S Monthly Saver account with an initial deposit on the day of account opening of between £25 and £250 by direct transfer from a M&S Current Account or an Additional Account."

I would have been happy to do that as I had the money in my account already - will check that it opens ok on Monday.

Vortigern

mrssjs wrote: »

All done, just a quick 5 minute phonecall. Thanks.

Lucky you! I was on the the phone for 13 boring minutes.:mad:

KTF wrote: »

Thanks. Online it lets you set the payment date so I will pick one less than 8 so the first one goes out next month.

Unfortunately, those who already have the free M&S account, with online access, can't apply online for the regular saver. Clicking the link to open a regular saver leads to a page that asks you to ring, or visit a branch.

anoncol

Ed-1 wrote: »

Nothing like following their own terms and conditions...

"You must open your M&S Monthly Saver account with an initial deposit on the day of account opening of between £25 and £250 by direct transfer from a M&S Current Account or an Additional Account."

How can you fund it considering you can open both at the same time?

colsten

anoncol wrote: »

How can you fund it considering you can open both at the same time?

May be use the overdraft? By default, there is a free £500 overdraft on the current account.

Ken68

Just been accepted for M&S account (having switched the original to Halifax) and 6% regular saver. No problems and received a "thank you "for coming back. Have agreed to deposit £500 to get things going.
No incentive this time. Same security number.

anoncol

I've just switched my current account to Yorkshire! I'll have to open another note, hope they accept me .

Ken68 wrote: »

Just been accepted for M&S account (having switched the original to Halifax) and 6% regular saver. No problems and received a "thank you "for coming back. Have agreed to deposit £500 to get things going.
No incentive this time. Same security number.

What is the security number? CVV?

Ken68

Hi Anon...the security number given on first contact and used for telephone banking. NOT the 3 digit number on the back of debit card.

badger09

KTF wrote: »

Is this like the FD one where the money is taken on the day that you open the account from the current account or can you specify the start date?

On the M&S apply for a bank account page it says you can open a regular saver at the same time but I am not sure when they will take the first payment (it says a SO will be setup for the payment and an additional 11 months) as I would need to fund the current account first.

mrssjs wrote: »

They let you choose the date, I chose today, just for ease, but he said that they will send out paperwork for you to check once the S/O is set-up.

Ed-1 wrote: »

Nothing like following their own terms and conditions...

"You must open your M&S Monthly Saver account with an initial deposit on the day of account opening of between £25 and £250 by direct transfer from a M&S Current Account or an Additional Account."

I opened my Monthly Saver yesterday. I wanted to deposit £250, but balance in current account was only around £40 Adviser was happy to wait while I transferred funds in using a mobile app, and the account appeared online approx 2 hours later

Call took 20 minutes in total. Around 12 to get to the right adviser, 7 for the T&C and FPI, and 1 for the attempted credit card sale

gt94sss2

badger09 wrote: »

I opened my Monthly Saver yesterday. I wanted to deposit £250, but balance in current account was only around £40 Adviser was happy to wait while I transferred funds in using a mobile app, and the account appeared online approx 2 hours later

Ditto - my call yesterday took 12 minutes - including requesting a new internet banking key and changing advisor to open the monthly saver - who was also happy to wait until I transferred £250 to my current account while I was on the call..

Regards
Sunil