M&S Bank closing all current accounts

quirkydeptless

Hmm, well mine, closed supposedly Yesterday, didn't appear in my current account, and in a follow up query I was told it was 'queued'. Today it disappeared, like it does when M&S Regular Savers normally close. So it probably won't appear till Monday I expect, due to weekend.

Let's see what random amount of interest I get 

[EDIT For some reason I thought it was Friday Today. Doh!]

Ed-1

I got £46.32 interest as an "account transfer" into my current account but my monthly saver is now overdrawn for that amount!

hoc

Other than calling and speaking to someone how else can the regular saver be closed? Can it be done with online chat? Can it be done with telephone banking (automated not talking to a human)? Does a CASS close the saver and add the balance to the current before switching completes or does the 45 odd quid get sent separately later?

MrsShazbat

Deleted User said:

MrsShazbat said:

I also thought this was a scam when I first read it, not least because I got the email twice.  So I checked, found the story on MSE and sent the link to my mum to confirm it wasn't a scam (as we both have our main current accounts with M&S and I'm joint account-holder on hers).  Ironically, she'd read it before me and it never entered her head that it wasn't genuine LOL! 
I've got a small Monthly Saver due to expire in November, but I'm also currently using my overdraft so will have to get that paid back before I can look into changing anything.  I could use my other current account with Santander but of course I'd have to switch everything myself which is a pain.  So I'm just going to hang on till the next update in May and see what's what at that point.

Why would you have to do a manual switch?

If you aren't intending to open another account then CASS/auto switch would be the logical option.

As I already have a current account with Santander they wouldn’t do the switch for me. I’ve asked before, unless that policy has changed.

Anyway I’ve started a switch to Nationwide - applied for an account with overdraft but decided to be an adult and paid it back from some savings. The switch is due to complete on 19th so will see what happens with my saver.

xylophone

Other than calling and speaking to someone how else can the regular saver be closed? Can it be done with online chat? Can it be done with telephone banking (automated not talking to a human)? Does a CASS close the saver and add the balance to the current before switching completes or does the 45 odd quid get sent separately later?

https://forums.moneysavingexpert.com/discussion/comment/78136484/#Comment_78136484

hoc

xylophone said:

Other than calling and speaking to someone how else can the regular saver be closed? Can it be done with online chat? Can it be done with telephone banking (automated not talking to a human)? Does a CASS close the saver and add the balance to the current before switching completes or does the 45 odd quid get sent separately later?

https://forums.moneysavingexpert.com/discussion/comment/78136484/#Comment_78136484

So no, no, no, yes ?

soulsaver

hoc said:

xylophone said:

Other than calling and speaking to someone how else can the regular saver be closed? Can it be done with online chat? Can it be done with telephone banking (automated not talking to a human)? Does a CASS close the saver and add the balance to the current before switching completes or does the 45 odd quid get sent separately later?

https://forums.moneysavingexpert.com/discussion/comment/78136484/#Comment_78136484

So no, no, no, yes ?

Spot on....:)

SPOWER

This thread shows me why the bank would close down.  It was a cheque account I have and this whole thread is gloing on about a savings account.  It is extremely tedious.

quirkydeptless

Well this morning, my Regular Saver was increased by £45.78

To the list of unsolved problems in mathematics, we can add M&S Regular Saver calculations

masonic

MrsShazbat said:

Deleted User said:

MrsShazbat said:

I also thought this was a scam when I first read it, not least because I got the email twice.  So I checked, found the story on MSE and sent the link to my mum to confirm it wasn't a scam (as we both have our main current accounts with M&S and I'm joint account-holder on hers).  Ironically, she'd read it before me and it never entered her head that it wasn't genuine LOL! 
I've got a small Monthly Saver due to expire in November, but I'm also currently using my overdraft so will have to get that paid back before I can look into changing anything.  I could use my other current account with Santander but of course I'd have to switch everything myself which is a pain.  So I'm just going to hang on till the next update in May and see what's what at that point.

Why would you have to do a manual switch?

If you aren't intending to open another account then CASS/auto switch would be the logical option.

As I already have a current account with Santander they wouldn’t do the switch for me. I’ve asked before, unless that policy has changed.

Anyway I’ve started a switch to Nationwide - applied for an account with overdraft but decided to be an adult and paid it back from some savings. The switch is due to complete on 19th so will see what happens with my saver.

I've switched 4 current accounts into the same existing Sandander current account by phone for this offer a couple of years ago: https://www.santander.co.uk/about-santander/media-centre/press-releases/santander-introduces-a-refer-a-friend-offer-for-current-accounts