Footnote 1* [1]£185 M&S gift card. Once you’ve switched using the Current Account Switch Service, including two active Direct Debits, we'll send you a £125 M&S gift card. But that's not all. Once you have your M&S gift card, we'll top it up with £5 each calendar month as long as a minimum of £1,000 is paid into your current account and two Direct Debits remain active – for a period of 12 months following the switch. So you could enjoy spending up to £185 in M&S. Terms and conditions apply.
Footnote 2** [2]M&S Monthly Saver: Access to the M&S Monthly Saver is available when you switch to us using the Current Account Switch Service and include two active Direct Debits. You can save from as little as £25 up to a maximum of £250 a month. If you pay in the maximum monthly contribution of £250 on the same date each month, for 12 months, you could earn gross interest of around £81. Partial withdrawals not permitted. Interest is paid at the end of the 12 month term. If you save less than £250 in any given month, you can carry over any unused allowance to the following months. Monthly Saver interest is calculated daily and credited annually at the end of the 12 month term. Rate is subject to change.
6 comments
Gabi
4 Oct 17#1
Ear overdraft....?
Anon32 to Gabi
4 Oct 17#3
Equivalent annual rate
m1chaels
4 Oct 17#2
Presumably still no previous customers :smile:
vwguy
5 Oct 17#4
I moved to M&S bank for a current account last month.
I'm a little disappointed overall, every time I want to log into my bank account online I have to generate a pin code using a pin generator they sent me. So if I want to log into my account whilst out of the house I have to take the pin generator with me everywhere I go otherwise I can't make online transactions. Also the M&S app only lets you check your balance, you can't send/make payments on the app, you have to go to the proper website.
I used to bank with TSB and all I had to do was insert my fingerprint to log into my account and I had all banking options there.
M&S Bank (whose parent company is HSBC) feels like a bank of the 90s still. That's surprising as I think HSBC customers don't have to go through the same set up.
myjess
5 Oct 17#5
bank says app will be updated November, but yeh, pain in the rear end that pin code thing.
ran123ran
7 Oct 17#6
Can someone advise how this works? I have gone through application process to switch and not once did it ask for details of my current "current account"
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Opening post
- Access to a 5% AER/gross fixed rate for 12 months with the M&S Monthly SaverFootnote 2**
- Minimum £500 overdraft – with the first £100 interest free. 15.9% EAR variable(subject to status)
- Earn 1 point for every £1 spent on your M&S Visa Debit Card in M&S (in store and online) through the M&S Loyalty Scheme
-
Preferential rates on selected M&S Bank products
- No monthly fee
Representative example (assumed overdraft £1,200): 0% EAR variable on the first £100, 15.9% EAR variable thereafter.Footnote 1* [1]£185 M&S gift card. Once you’ve switched using the Current Account Switch Service, including two active Direct Debits, we'll send you a £125 M&S gift card. But that's not all. Once you have your M&S gift card, we'll top it up with £5 each calendar month as long as a minimum of £1,000 is paid into your current account and two Direct Debits remain active – for a period of 12 months following the switch. So you could enjoy spending up to £185 in M&S. Terms and conditions apply.
Footnote 2** [2]M&S Monthly Saver: Access to the M&S Monthly Saver is available when you switch to us using the Current Account Switch Service and include two active Direct Debits. You can save from as little as £25 up to a maximum of £250 a month. If you pay in the maximum monthly contribution of £250 on the same date each month, for 12 months, you could earn gross interest of around £81. Partial withdrawals not permitted. Interest is paid at the end of the 12 month term. If you save less than £250 in any given month, you can carry over any unused allowance to the following months. Monthly Saver interest is calculated daily and credited annually at the end of the 12 month term. Rate is subject to change.
6 comments
I'm a little disappointed overall, every time I want to log into my bank account online I have to generate a pin code using a pin generator they sent me. So if I want to log into my account whilst out of the house I have to take the pin generator with me everywhere I go otherwise I can't make online transactions. Also the M&S app only lets you check your balance, you can't send/make payments on the app, you have to go to the proper website.
I used to bank with TSB and all I had to do was insert my fingerprint to log into my account and I had all banking options there.
M&S Bank (whose parent company is HSBC) feels like a bank of the 90s still. That's surprising as I think HSBC customers don't have to go through the same set up.