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  • FIRST POST
    • buyhighselllow
    • By buyhighselllow 12th Feb 18, 3:17 PM
    • 70Posts
    • 36Thanks
    buyhighselllow
    M&S DD's for bonus and regular saver ?
    • #1
    • 12th Feb 18, 3:17 PM
    M&S DD's for bonus and regular saver ? 12th Feb 18 at 3:17 PM
    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
Page 1
    • Katiehound
    • By Katiehound 12th Feb 18, 3:54 PM
    • 4,271 Posts
    • 38,649 Thanks
    Katiehound
    • #2
    • 12th Feb 18, 3:54 PM
    • #2
    • 12th Feb 18, 3:54 PM
    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!
    If you found my posting helpful please hit the "Thanks" button!
    Many thanks

    2018 Wombling : Entrant 8 ..39 cc+.840mm(84p) + RK 3.07= 4.30
    • badger09
    • By badger09 12th Feb 18, 4:13 PM
    • 5,941 Posts
    • 5,281 Thanks
    badger09
    • #3
    • 12th Feb 18, 4:13 PM
    • #3
    • 12th Feb 18, 4:13 PM
    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
    Originally posted by buyhighselllow
    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
    • By sparkiemalarkie 12th Feb 18, 4:28 PM
    • 463 Posts
    • 148 Thanks
    sparkiemalarkie
    • #4
    • 12th Feb 18, 4:28 PM
    • #4
    • 12th Feb 18, 4:28 PM
    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
    • By buyhighselllow 12th Feb 18, 4:34 PM
    • 70 Posts
    • 36 Thanks
    buyhighselllow
    • #5
    • 12th Feb 18, 4:34 PM
    • #5
    • 12th Feb 18, 4:34 PM
    cheers !

    got some wriggle room then when the switch is complete
    • buyhighselllow
    • By buyhighselllow 5th Mar 18, 5:02 PM
    • 70 Posts
    • 36 Thanks
    buyhighselllow
    • #6
    • 5th Mar 18, 5:02 PM
    • #6
    • 5th Mar 18, 5:02 PM
    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 1500 made from bank switches and P2P incentives since 2016

    Mortgage free. Still enjoy the good things but save where possible.

    Aim to retire by 55.
    • Mchambers
    • By Mchambers 5th Mar 18, 6:06 PM
    • 738 Posts
    • 232 Thanks
    Mchambers
    • #7
    • 5th Mar 18, 6:06 PM
    • #7
    • 5th Mar 18, 6:06 PM
    Nice and easy for my M&S gift card.
    • YorkshireBoy
    • By YorkshireBoy 5th Mar 18, 6:22 PM
    • 30,122 Posts
    • 17,978 Thanks
    YorkshireBoy
    • #8
    • 5th Mar 18, 6:22 PM
    • #8
    • 5th Mar 18, 6:22 PM
    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 ?
    Originally posted by buyhighselllow
    Answered in condition 2(b) of the incentive T&Cs.
    • Rich2808
    • By Rich2808 5th Mar 18, 6:35 PM
    • 598 Posts
    • 452 Thanks
    Rich2808
    • #9
    • 5th Mar 18, 6:35 PM
    • #9
    • 5th Mar 18, 6:35 PM
    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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