Got a credit card? use our Credit Card & Finance Calculators
Thanks to gpadsa,Steffers0,lansdown,Wasron,jfgw, for Donating to support the site
M&S bank closure [the merged thread]
-
- Lemon Slice
- Posts: 496
- Joined: August 19th, 2017, 8:37 am
- Has thanked: 154 times
- Been thanked: 242 times
M&S bank closure [the merged thread]
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/
https://bank.marksandspencer.com/curren ... t-account/
-
- Lemon Half
- Posts: 7992
- Joined: November 4th, 2016, 6:11 pm
- Has thanked: 995 times
- Been thanked: 3662 times
M&S bank closure [the merged thread]
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.
-
- The full Lemon
- Posts: 10454
- Joined: November 4th, 2016, 9:33 am
- Has thanked: 3651 times
- Been thanked: 5284 times
M&S bank closure [the merged thread]
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.
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.
-
- Lemon Half
- Posts: 5324
- Joined: November 4th, 2016, 12:04 pm
- Has thanked: 3303 times
- Been thanked: 1036 times
-
- Lemon Half
- Posts: 5324
- Joined: November 4th, 2016, 12:04 pm
- Has thanked: 3303 times
- Been thanked: 1036 times
Re: M&S bank closure [the merged thread]
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."
"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."
-
- The full Lemon
- Posts: 10454
- Joined: November 4th, 2016, 9:33 am
- Has thanked: 3651 times
- Been thanked: 5284 times
Re: M&S bank closure [the merged thread]
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
-
- The full Lemon
- Posts: 16629
- Joined: October 10th, 2017, 11:33 am
- Has thanked: 4343 times
- Been thanked: 7536 times
Re: M&S bank closure [the merged thread]
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
Dod
-
- The full Lemon
- Posts: 10454
- Joined: November 4th, 2016, 9:33 am
- Has thanked: 3651 times
- Been thanked: 5284 times
Re: M&S bank closure [the merged thread]
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.
-
- The full Lemon
- Posts: 16629
- Joined: October 10th, 2017, 11:33 am
- Has thanked: 4343 times
- Been thanked: 7536 times
Re: M&S bank closure [the merged thread]
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
-
- Lemon Quarter
- Posts: 2305
- Joined: November 4th, 2016, 4:20 pm
- Has thanked: 1907 times
- Been thanked: 870 times
Re: M&S bank closure [the merged thread]
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.
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.
-
- Lemon Slice
- Posts: 496
- Joined: August 19th, 2017, 8:37 am
- Has thanked: 154 times
- Been thanked: 242 times
M&S bank closure [the merged thread]
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?
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?
-
- The full Lemon
- Posts: 10454
- Joined: November 4th, 2016, 9:33 am
- Has thanked: 3651 times
- Been thanked: 5284 times
Re: M&S bank closure [the merged thread]
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...
-
- Lemon Half
- Posts: 5324
- Joined: November 4th, 2016, 12:04 pm
- Has thanked: 3303 times
- Been thanked: 1036 times
Re: M&S bank closure [the merged thread]
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!
-
- The full Lemon
- Posts: 10454
- Joined: November 4th, 2016, 9:33 am
- Has thanked: 3651 times
- Been thanked: 5284 times
Re: M&S bank closure [the merged thread]
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.
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.
-
- The full Lemon
- Posts: 19057
- Joined: November 4th, 2016, 3:58 pm
- Has thanked: 643 times
- Been thanked: 6751 times
Re: M&S bank closure [the merged thread]
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.
-
- Lemon Slice
- Posts: 452
- Joined: November 4th, 2016, 4:55 pm
- Has thanked: 161 times
- Been thanked: 159 times
Re: M&S bank closure [the merged thread]
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
-
- Lemon Half
- Posts: 7232
- Joined: November 24th, 2016, 3:29 am
- Has thanked: 1677 times
- Been thanked: 3866 times
Re: M&S bank closure [the merged thread]
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.
The level of service from these two is an order of magnitude higher than any of the old skool banks I used to use.
-
- The full Lemon
- Posts: 10454
- Joined: November 4th, 2016, 9:33 am
- Has thanked: 3651 times
- Been thanked: 5284 times
Re: M&S bank closure [the merged thread]
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.
-
- The full Lemon
- Posts: 10454
- Joined: November 4th, 2016, 9:33 am
- Has thanked: 3651 times
- Been thanked: 5284 times
Re: M&S bank closure [the merged thread]
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
I don't think so, otherwise, why would they have an option in the STO dialogue box for "amend"? - maybe just to annoy meIs it possible M&S is the same?
Arb.
-
- Lemon Half
- Posts: 7232
- Joined: November 24th, 2016, 3:29 am
- Has thanked: 1677 times
- Been thanked: 3866 times
Re: M&S bank closure [the merged thread]
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!
Return to “Bank Accounts Savings & ISAs”
Who is online
Users browsing this forum: No registered users and 14 guests