M&S Bank closing all current accounts

masonic

SPOWER said:

This thread wants closing and moved to savings area cause that is what it is all about.  I am bored of it all.  I called the bank and asked for compensation and was told under no circumstances would that be paid, that the instruction came from above.   Now can we keep this about Marksies current accounts and anymore comments about these silly monthly savers and £40 interest, GO TO SAVINGS AREA.  Thank you.

If this thread is boring you, you don't have to continue reading it. Meanwhile, I want to hear more about the consequences of people switching the current account, including the consequences on the linked RS. The linked RS is the most important feature of the current account in my view.

hoc

Very difficult to communicate with the call centre, poor line.

soulsaver

hoc said:

Very difficult to communicate with the call centre, poor line.

If it's a query regarding interest (ie after closing the RS) you could use secure messaging. Worked for me in 24 hours.

ALB38_2

If credit card customers are "not affected", does that mean that anyone with a credit card as well as a current account will not have their current account closed?

Ed-1

ALB38_2 said:

If credit card customers are "not affected", does that mean that anyone with a credit card as well as a current account will not have their current account closed?

No. It means they won't have their credit card closed.

jimjames

SPOWER said:

RS is a savings account.  Go over to savings and talk about that.

Rather than keep moaning, maybe you could answer the question? What are you expecting compensation for?

datlex

I have set up my switch to go through on 1st April.  I am switching to the Lloyds club account.  Tried Virgin Current account but got an error and could not get back on.  Have decided not to wait until August due to changes to who is going to be paying me at work.

Hamster43

I’ve just spent a week trying to switch my M&S current account to Barclays. M&S only allow a partial switch under the Current Account Switch Service, not a full switch. This means that although all your direct debits etc are transferred, you still have to transfer any credit balance and close the old account yourself. Pointless. Talk about half a job. Interestingly, the Barclays advisor I spoke to said I was the second customer she’d spoken to today who had exactly this issue.  Come on M&S. You’ve sacked us off despite being loyal customers for years, the least you can do is let us go the most convenient way under the CASS scheme which is specifically designed for this purpose.

Vortigern

Hamster43 said:

I’ve just spent a week trying to switch my M&S current account to Barclays. M&S only allow a partial switch under the Current Account Switch Service, not a full switch...

M&S is a full member of the current account switching service and should allow a full switch.  Did you instruct Barclays to do the switch? Or did you ask M&S to do it?

masonic

Hamster43 said:

I’ve just spent a week trying to switch my M&S current account to Barclays. M&S only allow a partial switch under the Current Account Switch Service, not a full switch. This means that although all your direct debits etc are transferred, you still have to transfer any credit balance and close the old account yourself. Pointless. Talk about half a job. Interestingly, the Barclays advisor I spoke to said I was the second customer she’d spoken to today who had exactly this issue.  Come on M&S. You’ve sacked us off despite being loyal customers for years, the least you can do is let us go the most convenient way under the CASS scheme which is specifically designed for this purpose.

This doesn't seem correct - I believe others have managed to initiate a full CASS switch.