M&S bank

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  • getting-sorted-sarah
    getting-sorted-sarah Posts: 723 Forumite
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    I applied in Jan and am also regretting it - the phone calls (2, totaling well over an hour), the endless paperwork and the stupid pin machine mean this is not a convenient account for me. The account appears to be run by HSBC (not First Direct). The customer service once I finally got through to someone was faultless (unlike my precious dealings with HSBC), but this is a very old fashioned system. I want emails and texts not letters, phone calls and a pin machine that I have to carry around with me! I will be leaving as soon as I have received my voucher - will not be hanging around for the monthly incentive.
  • durod
    durod Posts: 4 Newbie
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    I have plenty of current accounts but was refused by First direct, HSBC and M&S. Shame.
  • jamesmoneysaving500
    jamesmoneysaving500 Posts: 7 Forumite
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    Does M&S offer many good advantages with opening an account with them?
  • colsten
    colsten Posts: 17,597 Forumite
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    getting-sorted-sarah wrote: »
    I applied in Jan and am also regretting it - the phone calls (2, totaling well over an hour), the endless paperwork and the stupid pin machine mean this is not a convenient account for me. The account appears to be run by HSBC (not First Direct). The customer service once I finally got through to someone was faultless (unlike my precious dealings with HSBC), but this is a very old fashioned system. I want emails and texts not letters, phone calls and a pin machine that I have to carry around with me! I will be leaving as soon as I have received my voucher - will not be hanging around for the monthly incentive.

    It's not any old account - it's an M&S current account (imagine the music along the words).

    You are absolutely right, they do not make it exceedingly easy to earn the £100 switching bonus. But how long would you normally have to work to earn £100 after tax? For most people, it is considerably longer than the time it takes to bag the MS gift card.

    The same applies to the 12 x £10 = £120 monthly gifts. It is just about no effort to set up the appropriate SOs, and you earn a free night out at Tiger Tiger or wherever your fancy takes you on a weekend. How long would you have to work for £120 after tax?
  • No_6
    No_6 Posts: 835 Forumite
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    The pin machine makes it slower to log into online banking but not much longer than NON-PIN accounts, when you get used to it.

    Also the 6% saver is handy if you have anything spare up to £250 a month for one year.
  • colsten
    colsten Posts: 17,597 Forumite
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    No_6 wrote: »
    The pin machine makes it slower to log into online banking but not much longer than NON-PIN accounts, when you get used to it.
    It can take weeks to log in if you have mislaid the damn key-generating thing and have to re-request one.

    It's a mystery to me why M&S can't let you at least log in, and make payments to existing payees, without that horrible keypad.
  • MARTYM8`
    MARTYM8` Posts: 1,212 Forumite
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    colsten wrote: »
    It can take weeks to log in if you have mislaid the damn key-generating thing and have to re-request one.

    It's a mystery to me why M&S can't let you at least log in, and make payments to existing payees, without that horrible keypad.

    Yes – its very odd.

    HSBC and First Direct – effectively the same banks – allow you to login without the secure key and do basic transactions for existing set up payees but M&S does not. I would hate to rely on M&S as my main account and lose that key – you are totally stuck and are then forced to do phone banking (waiting times can be long) or go to a branch (ideal for some but they don’t have that many).
  • badger09
    badger09 Posts: 11,206 Forumite
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    colsten wrote: »
    It can take weeks to log in if you have mislaid the damn key-generating thing and have to re-request one.

    :naughty::naughty::naughty:
  • diamonds
    diamonds Posts: 6,048 Forumite
    Debt-free and Proud!
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    Opened a M&S current and 6% saver, 6 days after opening the Halifax £5 Reward Current Account.

    Was refused a HSBC account 7 months ago for the 6% saver.


    I think the fact my TSB current account may have been showing £5000 on my credit file balance and 7 months ago was £1500 max has a lot to do with it.


    When I applied online I got no decision and they would write to me, assumed I failed credit check as per previous HSBC decision but last Friday 'please sign and send back these two bits of paper' to open your account.


    6% saver, 5% TSB, Halifax Reward, 2016 really is becoming the year of savings for me :)
    SO... now England its the Scots turn to say dont leave the UK, stay in Europe with us in the UK, dont let the tories fool you like they did us with empty lies... You will be leaving the UK aswell as Europe ;)
  • colsten
    colsten Posts: 17,597 Forumite
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    diamonds wrote: »

    I think the fact my TSB current account may have been showing £5000 on my credit file balance and 7 months ago was £1500 max has a lot to do with it.
    Any positive balance of your current accounts will show as £0 on your credit file.

    Why do you have £5K in a TSB Plus when you only get interest on £2K?
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