M&S monthly saver account

ffiscool

so on tonight's show, Martin mentioned about M&S paying 2.75% gross on monthly savings accounts.  One of the conditions however is that you have switched totally to m&s bank and have 2 DDIs set up already.  I did switch to them a few years ago. Does that count, plus I cannot see on their site anywhere it says, you have to have switched recently.. any thoughts?  I can call them tomorrow but if it is not showing and Martin did not mention it, then presumably the switch does not have to have been recent?

YorkshireBoy

If you switched to them via the CASS, ie your old account was closed automatically as part of the switch,  you qualify. If you switched pre-CASS you don't.

born_again

ffiscool said:

so on tonight's show, Martin mentioned about M&S paying 2.75% gross on monthly savings accounts.  One of the conditions however is that you have switched totally to m&s bank and have 2 DDIs set up already.  I did switch to them a few years ago. Does that count, plus I cannot see on their site anywhere it says, you have to have switched recently.. any thoughts?  I can call them tomorrow but if it is not showing and Martin did not mention it, then presumably the switch does not have to have been recent?

https://bank.marksandspencer.com/save-invest/monthly-saver

• Exclusive access to our high rate monthly savings account for existing and new M&S current account customers.
• Earn an impressive 2.75% AER/gross interest

I do not even bank with them...

colsten

ffiscool said:

so on tonight's show, Martin mentioned about M&S paying 2.75% gross on monthly savings accounts.

What he mentioned is that they are withdrawing that account next week. They have been offering their RS for the last 6 years, and it paid 5% in the beginning. 

vernall

colsten said:

ffiscool said:

so on tonight's show, Martin mentioned about M&S paying 2.75% gross on monthly savings accounts.

What he mentioned is that they are withdrawing that account next week. They have been offering their RS for the last 6 years, and it paid 5% in the beginning. 

ahhhhh, the good old day of 5%

garmeg

colsten said:

ffiscool said:

so on tonight's show, Martin mentioned about M&S paying 2.75% gross on monthly savings accounts.

What he mentioned is that they are withdrawing that account next week. They have been offering their RS for the last 6 years, and it paid 5% in the beginning. 

I got firstdirect regular saver rates of 6% and even 8% one year too.

surreysaver

ffiscool said:

so on tonight's show, Martin mentioned about M&S paying 2.75% gross on monthly savings accounts.  One of the conditions however is that you have switched totally to m&s bank and have 2 DDIs set up already.  I did switch to them a few years ago. Does that count, plus I cannot see on their site anywhere it says, you have to have switched recently.. any thoughts?  I can call them tomorrow but if it is not showing and Martin did not mention it, then presumably the switch does not have to have been recent?

You should be able to.  I switched about three years ago, and have been opening a Regular Saver each year based on that switch.  Have you still got the paperwork from the switch to prove it in case there's an issue?

colsten

garmeg said:

colsten said:

ffiscool said:

so on tonight's show, Martin mentioned about M&S paying 2.75% gross on monthly savings accounts.

What he mentioned is that they are withdrawing that account next week. They have been offering their RS for the last 6 years, and it paid 5% in the beginning. 

I got firstdirect regular saver rates of 6% and even 8% one year too.

Yeah, I am old enough to remember the 6% RS account, too......The only 8% one I can recall is an ICESAVE ISA but I don't want really want to think about that traumatic experience.........

xylophone

I can remember an 8% from HSBC.

xylophone

One of the conditions however is that you have switched totally to m&s bank and have 2 DDIs set up already. 

I switched a few years ago and open the RS each year on the back of that.

I have just made the first payment into a new one - the last one by the looks of it!

Another bank account will bite the dust.....

garmeg

colsten said:

garmeg said:

colsten said:

ffiscool said:

so on tonight's show, Martin mentioned about M&S paying 2.75% gross on monthly savings accounts.

What he mentioned is that they are withdrawing that account next week. They have been offering their RS for the last 6 years, and it paid 5% in the beginning. 

I got firstdirect regular saver rates of 6% and even 8% one year too.

Yeah, I am old enough to remember the 6% RS account, too......The only 8% one I can recall is an ICESAVE ISA but I don't want really want to think about that traumatic experience.........

xylophone said:

I can remember an 8% from HSBC.

Yes, it appeared on a brief window one November. I closed a 6% after 2 months and opened an 8% one instead. It soon dropped to 6% for new accounts. May have been in 2015.