M&S DD's for bonus and regular saver ?

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buyhighselllow
buyhighselllow Posts: 243 Forumite
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Hi

DAK if the 2 direct debits have to be monthly for this account..? Its says "2 active direct debits" so wandering if I could get away with a quarterly or annual one's as getting a short of ones I can shuffle.

Also, do you need to have 2 DD's to get the 5% regular saver ?

Cheers
Over £2K made from bank switches and P2P incentives since 2016 :beer:

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  • Katiehound
    Katiehound Posts: 7,557 Forumite
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    Active DDs can be annual, quarterly, monthly....... whatever for M&S.
    T&cs- I don't know! But I still have £1k circulating and 2 x annual DDs to keep account open with access to their RS.
    Being polite and pleasant doesn't cost anything! --
    Many thanks
    -Stash bust:in 2022:337
    Stash bust :2023. 120duvets, 24 bags, 43 dog coats, 2 scrunchies, 10 mittens, 6 bootees, 8 glass cases, 2 A6 notebooks, 59 cards, 6 lav bags,36 angels,9 bones, 1 knee blanket, 1 lined bag,3 owls, 88 pyramids = total 420 total spend £5. Total for 'Dogs for Good' £546.82

    2024:23 Doggy duvets,30 pyramids, 6 hottie covers, 4 knit hats,13 crochet angels,1 shopper, 87cards=164 £86 spent!!!
  • badger09
    badger09 Posts: 11,211 Forumite
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    buyhighselllow wrote: »
    Hi

    DAK if the 2 direct debits have to be monthly for this account..? Its says "2 active direct debits" so wandering if I could get away with a quarterly or annual one's as getting a short of ones I can shuffle.

    Also, do you need to have 2 DD's to get the 5% regular saver ?

    Cheers

    You definitely need 2 active DDs when you open the Monthly Saver.
    You also need to have switched a current account to them

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

    There is nothing in the T&Cs which says you have to keep the DDs paying regularly, but as Katiehound says, they only have to be active.

    In which case, why take the chance - just use annual DDS;)
  • sparkiemalarkie
    sparkiemalarkie Posts: 896 Forumite
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    Just this minute spoken to M&S bank re DD's.
    The direct debits need to pay out at least once in every 12/13 months to keep them 'active'.
    They don't need to pay out every month.


    HTH


    sparkie


    ps you must have 2 dd for the regular saver
  • buyhighselllow
    buyhighselllow Posts: 243 Forumite
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    cheers !

    got some wriggle room then when the switch is complete
    Over £2K made from bank switches and P2P incentives since 2016 :beer:
  • buyhighselllow
    buyhighselllow Posts: 243 Forumite
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    Finally got this account open..DAK if the DD's have to transfer in with the switching account or can they be set up separately to get the £125 in vouchers ?
    Over £2K made from bank switches and P2P incentives since 2016 :beer:
  • Mchambers
    Mchambers Posts: 1,054 Forumite
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    Nice and easy for my M&S gift card.
  • YorkshireBoy
    YorkshireBoy Posts: 31,541 Forumite
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    buyhighselllow wrote: »
    Finally got this account open..DAK if the DD's have to transfer in with the switching account or can they be set up separately to get the £125 in vouchers ?
    Answered in condition 2(b) of the incentive T&Cs.
  • Rich2808
    Rich2808 Posts: 1,332 Forumite
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    You need to have 2DDs as well to use the regular saver - and they need to stay active for the 12 month period or they could in theory close the account. One of mine is for monthly payment for my M&S credit card which has 32 months interest free on purchases!
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