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M&S bank closure [the merged thread]

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seagles
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M&S bank closure [the merged thread]

#392580

Postby seagles » March 5th, 2021, 8:36 am

Just got notification that my branch and account is being closed. I moved to them when my local branch of NatWest closed. In my village we have had HSBC, Lloyd's and recently Barclays shut their branches. We still have Nationwide. During lockdown my M&S branch shut as it was in the middle of the store. I still have the need to pay in cash on a regular basis. Have till End of July to find an alternative source.

https://bank.marksandspencer.com/curren ... t-account/

swill453
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M&S bank closure [the merged thread]

#392598

Postby swill453 » March 5th, 2021, 9:12 am

seagles wrote:Just got notification that my branch and account is being closed. I moved to them when my local branch of NatWest closed. In my village we have had HSBC, Lloyd's and recently Barclays shut their branches. We still have Nationwide. During lockdown my M&S branch shut as it was in the middle of the store. I still have the need to pay in cash on a regular basis. Have till End of July to find an alternative source.

You can pay cash into many high street banks at a Post Office using a debit card.

(Doesn't help if you don't have a Post Office of course...)

Scott.

Arborbridge
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M&S bank closure [the merged thread]

#392608

Postby Arborbridge » March 5th, 2021, 9:35 am

This is a blow! Just settled down into Marks banking for a few years, now it's going.

I've had quick look on moneysavingexpert but the accounts all seem to be gimmicky and make you jump through hoops if there's some moneyback or regular saver.

Is there something more vanilla I can switch to? Any recommendation for one with user-friendly website? (I have a Smile account, but the web site really gets annoying - you have to get a code sent to your phone when inside the site to even look at past statements! - and if you decide not to bother, you cannot return to the home page so you must log in again).

Arb.

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Re: M&S bank closure [the merged thread]

#392611

Postby didds » March 5th, 2021, 9:49 am

does that affect credit cards? Just off for a google...

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Re: M&S bank closure [the merged thread]

#392612

Postby didds » March 5th, 2021, 9:50 am

ah - found it ...

"It's only our current accounts, associated Monthly Saver and in-store bank branches, that will close. We want to reassure you that if you have an M&S Credit Card, loans, insurance products or other savings with us, or you use our travel money service, these products and services will continue as normal."

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Re: M&S bank closure [the merged thread]

#392622

Postby Arborbridge » March 5th, 2021, 10:16 am

didds wrote:ah - found it ...

"It's only our current accounts, associated Monthly Saver and in-store bank branches, that will close. We want to reassure you that if you have an M&S Credit Card, loans, insurance products or other savings with us, or you use our travel money service, these products and services will continue as normal."



Does that imply I'll still receive cash back vouchers for using the card? If so, that's not so bad as I thought.

Arb

Dod101
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Re: M&S bank closure [the merged thread]

#392634

Postby Dod101 » March 5th, 2021, 10:27 am

Since it was a joint venture with HSBC it is surprising that M & S are not offering to transfer you to them. In fact the HSBC credit card gives a choice of vouchers in the way you seem to be describing although I seldom use it.

Dod

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Re: M&S bank closure [the merged thread]

#392638

Postby Arborbridge » March 5th, 2021, 10:32 am

Dod101 wrote:Since it was a joint venture with HSBC it is surprising that M & S are not offering to transfer you to them. In fact the HSBC credit card gives a choice of vouchers in the way you seem to be describing although I seldom use it.

Dod


I have a First Direct account and it's very good. The Marks account was mainly a secondary one for receiving my dividends and behaved as a "header tank". The FD account is my everyday one.

I could just open a second FD account - that might be easiest.

Mrs Arb has a similar decision, but does not want another FD account as she will get "confused". Her Marks account was for BTL transactions, to be kept separately from day to day stuff.

Arb.

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Re: M&S bank closure [the merged thread]

#392644

Postby Dod101 » March 5th, 2021, 10:37 am

Arborbridge wrote:
Dod101 wrote:Since it was a joint venture with HSBC it is surprising that M & S are not offering to transfer you to them. In fact the HSBC credit card gives a choice of vouchers in the way you seem to be describing although I seldom use it.

Dod


I have a First Direct account and it's very good. The Marks account was mainly a secondary one for receiving my dividends and behaved as a "header tank". The FD account is my everyday one.

I could just open a second FD account - that might be easiest.

Mrs Arb has a similar decision, but does not want another FD account as she will get "confused". Her Marks account was for BTL transactions, to be kept separately from day to day stuff.

Arb.


Yes I can see all that you say. I have a savings account for dividend collection and another for my Travel Fund, aka State Pension. Building up very well at the moment. I wish it weren't.

Dod

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Re: M&S bank closure [the merged thread]

#392685

Postby staffordian » March 5th, 2021, 11:54 am

I've been with the Co-op Bank for decades and am very happy with them.

I have a straightforward "Current Account Plus" which has no fees and pays £2 per month as long as certain conditions are met (forget now, but pretty basic such as having a couple of direct debits, paying in a modest regular amount and using the app once a month). It also pays 5p each time the debit card is used. It comes with a linked savings account currently paying a huge 0.09% interest (down to 0.06% from May)

The website and app are pretty easy to use and surprisingly don't suffer the issues you mention with smile.

seagles
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M&S bank closure [the merged thread]

#392691

Postby seagles » March 5th, 2021, 12:11 pm

M&S did not have an agreement with PO, so recently have been visiting HSBC branch.
The local PO closed a few years back when the Post Mistress died. As supposedly the largest "village" in the UK we lack basic services like this, but have loads of coffee shops and hairdressers?

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Re: M&S bank closure [the merged thread]

#392703

Postby Arborbridge » March 5th, 2021, 12:37 pm

staffordian wrote:
The website and app are pretty easy to use and surprisingly don't suffer the issues you mention with smile.


As you say, strange as its part of the same family. Maybe it'll come to you later... :cry:

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Re: M&S bank closure [the merged thread]

#392724

Postby didds » March 5th, 2021, 1:14 pm

Arborbridge wrote:
didds wrote:ah - found it ...

"It's only our current accounts, associated Monthly Saver and in-store bank branches, that will close. We want to reassure you that if you have an M&S Credit Card, loans, insurance products or other savings with us, or you use our travel money service, these products and services will continue as normal."



Does that imply I'll still receive cash back vouchers for using the card? If so, that's not so bad as I thought.

Arb



I hope so Arb, cos its the only reason we have that particular card anyway!

Arborbridge
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Re: M&S bank closure [the merged thread]

#393154

Postby Arborbridge » March 6th, 2021, 5:18 pm

Well, after today, I am rather glad they are closing this banking service!

I've had no joy amending a standing order or even sending a message to let them know about my problems. This wsated 40 minutes of my time this morning having achieve precisely nothing.

Took up the problem this afternoon... still cannot amend an existing STO. The sequence does not complete and sends me back to "my Accounts". I tried amending using a couple of different amounts in case that was the problem, with no change. How difficult can it be to have software which allows amendment of an existing STO?

Then I wrote a message which would not "send" - I was returned to a "log in to your account" box.
On trying to log in again I received various nonsense messages - like "bad request". In the end, I tried a different browser which got me into the account. This time I managed to send a message - the only difference being that I didn't fill in the section asking for a phone number.

BTW, not only have I found their software very "touchy" since there upgrade last year (?) but there are stupidities in it, in my view. For example one is not allowed to punctuate a message properly: it will not accept punctuation marks beyond full stops and commas. And I note from a previous message exchange that I had trouble last year paying my tax bill. How that was resolved I don't actually know (though it was paid months after that message) but the message pointed out that the software will not accept anything but numbers for the reference.

In short, I am probably better off out of it because looking back on the past year, I have certainly had many "oddities" happen, mainly difficulty in logging in, which I do not have with my First Direct account.

Arb.

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Re: M&S bank closure [the merged thread]

#393164

Postby Lootman » March 6th, 2021, 5:50 pm

didds wrote:"It's only our current accounts, associated Monthly Saver and in-store bank branches, that will close. We want to reassure you that if you have an M&S Credit Card, loans, insurance products or other savings with us, or you use our travel money service, these products and services will continue as normal."

Interesting because, at least in my local M&S store, the travel FX counter is within their banking centre, so it will be interesting to see how they close the one without the other.

I have their credit card and find M&S handy for FX when I travel. For buying anyway, not selling.

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Re: M&S bank closure [the merged thread]

#393482

Postby AJC5001 » March 7th, 2021, 11:24 pm

Arborbridge wrote:Took up the problem this afternoon... still cannot amend an existing STO. The sequence does not complete and sends me back to "my Accounts". I tried amending using a couple of different amounts in case that was the problem, with no change. How difficult can it be to have software which allows amendment of an existing STO?
Arb.


HSBC don't allow amendment of a standing order - they tell you to cancel the existing one wnd set up a new one instead. Is it possible M&S is the same?
(I don't know as all I've done is cancel my standing orders and direct debits in preparation for cancelling my M&S account.)

For First Direct, when I looked today, it said you can only have a second account if it is a joint account.

HTH

Adrian

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Re: M&S bank closure [the merged thread]

#393484

Postby Mike4 » March 7th, 2021, 11:47 pm

It is trivially easy to set up a new bank account with a "challenger bank" e.g. Starling or Monzo and transfer all your DDs etc to it, in my personal experience.

The level of service from these two is an order of magnitude higher than any of the old skool banks I used to use.

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Re: M&S bank closure [the merged thread]

#393499

Postby Arborbridge » March 8th, 2021, 7:31 am

Mike4 wrote:It is trivially easy to set up a new bank account with a "challenger bank" e.g. Starling or Monzo and transfer all your DDs etc to it, in my personal experience.

The level of service from these two is an order of magnitude higher than any of the old skool banks I used to use.

Thanks for that, I shall have a look. Last time I switched it was a bit of a trial, but that was between a building society and Marks Bank - so a different kettle of fish.


Arb.

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Re: M&S bank closure [the merged thread]

#393500

Postby Arborbridge » March 8th, 2021, 7:33 am

AJC5001 wrote:
Arborbridge wrote:Took up the problem this afternoon... still cannot amend an existing STO. The sequence does not complete and sends me back to "my Accounts". I tried amending using a couple of different amounts in case that was the problem, with no change. How difficult can it be to have software which allows amendment of an existing STO?
Arb.


HSBC don't allow amendment of a standing order - they tell you to cancel the existing one wnd set up a new one instead.
(I don't know as all I've done is cancel my standing orders and direct debits in preparation for cancelling my M&S account.)

For First Direct, when I looked today, it said you can only have a second account if it is a joint account.

HTH

Adrian


Is it possible M&S is the same?
I don't think so, otherwise, why would they have an option in the STO dialogue box for "amend"? - maybe just to annoy me :?

Arb.

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Re: M&S bank closure [the merged thread]

#393506

Postby Mike4 » March 8th, 2021, 8:16 am

Arborbridge wrote:
Mike4 wrote:It is trivially easy to set up a new bank account with a "challenger bank" e.g. Starling or Monzo and transfer all your DDs etc to it, in my personal experience.

The level of service from these two is an order of magnitude higher than any of the old skool banks I used to use.

Thanks for that, I shall have a look. Last time I switched it was a bit of a trial, but that was between a building society and Marks Bank - so a different kettle of fish.


Arb.


Same here. The previous time I switched banks (back in about 1990) the process was so painful and troublesome with ramifications rumbling on for months, that I swore never to do it again. This time though, I had an experience with RBS so bad I felt driven to change again. This time though it was a breath of fresh air. Signing up with Starling took perhaps 60 mins in total, including 30 minutes of wondering if I was really doing the right thing.

Weird experience though. Can't be done unless you have a smartphone as ID involves sending them a short video of you telling them who you are!


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