M&S Bank closing all current accounts

alandaniel132

veggieblob said:

Divorced_Daddy_001 said:

MSE_Helen_K said:

Hi everyone, just an update to confirm that all M&S Bank customers can now switch to HSBC and First Direct regardless of how long they've been with M&S. M&S had previously said customers wouldn't be able to switch to its sister banks if they'd joined the group since 1 January 2018. But it's now U-turned on this decision...

Read the full story:
'All M&S Bank customers can now switch to HSBC and First Direct - regardless of how long they've held their account'

Click reply below to discuss. If you haven’t already, join the forum to reply.

This sounds like great news!  Thanks for letting us know about it.  Hopefully First Direct will soon update the wording on their website.  At the moment is still excludes people who opened a M&S current account after 1st January 2018, from receiving the £100 switching bonus.

First Direct website now only excludes HSBC accounts from the bonus.  I started my switch from M&S this morning.  First switch date available was 13th April.  Still waiting for final confirmation so fingers crossed.

Can you give us the link? Cannot find it stated 

veggieblob

First Direct website now only excludes HSBC accounts from the bonus.  I started my switch from M&S this morning.  First switch date available was 13th April.  Still waiting for final confirmation so fingers crossed.

Can you give us the link? Cannot find it stated 

https://www1.firstdirect.com/banking/current-account/  then towards the bottom of the page -

*£100 to say hello

To get the £100 cash offer you need to open a 1st Account, switch your everyday banking to us using the Current Account Switch Service and pay in at least £1,000 within three months of opening the account.

This offer is limited to one payment per customer or joint account, and you'll get the money within 28 days of all the criteria being met. Sorry, we can only offer this to people who haven’t previously held an account with us, and/or has not opened a HSBC current account on or after 1 January 2018. You may hold a HSBC current account and still qualify for the offer, as long as the current account was opened before 1 January 2018. We reserve the right to refuse your application and withdraw this offer at anytime. Credit is subject to status and an assessment of your financial circumstances

Hope this helps

alandaniel132

veggieblob said:

First Direct website now only excludes HSBC accounts from the bonus.  I started my switch from M&S this morning.  First switch date available was 13th April.  Still waiting for final confirmation so fingers crossed.

Can you give us the link? Cannot find it stated 

https://www1.firstdirect.com/banking/current-account/  then towards the bottom of the page -

*£100 to say hello

To get the £100 cash offer you need to open a 1st Account, switch your everyday banking to us using the Current Account Switch Service and pay in at least £1,000 within three months of opening the account.

This offer is limited to one payment per customer or joint account, and you'll get the money within 28 days of all the criteria being met. Sorry, we can only offer this to people who haven’t previously held an account with us, and/or has not opened a HSBC current account on or after 1 January 2018. You may hold a HSBC current account and still qualify for the offer, as long as the current account was opened before 1 January 2018. We reserve the right to refuse your application and withdraw this offer at anytime. Credit is subject to status and an assessment of your financial circumstances

Hope this helps

So if I have First Direct account before, i am not eligible for this £100 bonus if I close my M&S current account and switch to First Direct.

colsten

Correct...

alandaniel132

schiff said:

I've got an M&S current account, still open but with nothing in it, and with no DDs nor SOs set up. I was not intending to use it again. Does this mean that I can switch it to First Direct (where I already have their 1st account which is used only once a month to cycle the RS £300 through it) and get cash-back? This sounds like the ultimate in MSEism.

You will not get the bonus £100, because you already have their 1st account. 

djpailo

I am pretty surprised by the news.

jimjames

djpailo said:

I am pretty surprised by the news.

That was long delayed surprise!

Some of us have already switched to a new bank and got full interest on RS balance since the news was announced!

[Deleted User]

I closed my Marks and Spencer Bank current account in mid March. My linked Monthly Saver was due to mature on 17 April but closed early (or so I thought) along with the current account. The balance on the MS was £2750. Interest of £43-odd was added and the whole balance transferred out to my nominated account. So far, fine. I have now received a closing statement for the MS showing that interest of £38 was added on 17 April (the original maturity date) and my account now has a credit balance of £38. I logged on to internet banking and the account is still showing there with a credit balance of £38. Seems to be a mistake, Just wondered if anyone else has  had this happen? I can't withdraw the £38 as there is no M and S current account into which to move it and you can't seem to withdraw online from the MS to an external account. Not that I'm entitled to it!

colsten

Open one of these https://bank.marksandspencer.com/save-invest/everyday-savings-account/

[Deleted User]

Would it be legal to withdraw cash which has been credited by mistake? Or is it their fault in law? Ethical considerations aside.