Free £125 M&S gift card + £5/mth for a year + linked 5% savings. M&S Bank gives new switchers a £125 M&S gift card, and for the first year it'll add another £5/mth. It also offers a 5% fixed regular savings account and to some, a £100 0% overdraft
350°Expired

Free £125 M&S gift card + £5/mth for a year + linked 5% savings. M&S Bank gives new switchers a £125 M&S gift card, and for the first year it'll add another £5/mth. It also offers a 5% fixed regular savings account and to some, a £100 0% overdraft

21
Found 4th Jan
M&S CURRENT ACCOUNT£185 M&S gift card when you switch and stayFootnote 1*, plus…


  • 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.

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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.
Community Updates
Subject to status, credit check and min £1000 paid in per month

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Top comments
Any credit to MSE? I guess not shame may have got you more heat.
Edited by: "cliosport65" 4th Jan
21 Comments
Any credit to MSE? I guess not shame may have got you more heat.
Edited by: "cliosport65" 4th Jan
Original Poster
cliosport6518 m ago

Any credit to MSE? I guess not shame


Its an m&s deal not an mse one and its not exclusive. So no i'm not going to credit mse. Is it a shame i will let you decide
I did this by switching from Halifax. Apart from the sh** online banking and app, the deal is a very good one and the £5 top up on a gift card is very much a draw. Also, I now get 5% interest to a linked in current account which is similar to a deal with Nationwide. Definitely good for at least 1 year.
Anon325 m ago

Its an m&s deal not an mse one and its not exclusive. So no i'm not going …Its an m&s deal not an mse one and its not exclusive. So no i'm not going to credit mse. Is it a shame i will let you decide


I meant you got the info from MSE as it was listed on the weekly email just sent out. Yes from MSE.
cliosport6520 m ago

I meant you got the info from MSE as it was listed on the weekly email …I meant you got the info from MSE as it was listed on the weekly email just sent out. Yes from MSE.


Just a thought maybe they saw it in store and not the MSE email that came out dats ago
Minimum £1000 to be paid in each month 😯
Anyone know if I can switch and transfer to this from a current account that doesn't have any direct debits setup and subsequently setup two DD's from my main (different) current account or does it need to be same current account with at least two DD's in place? Hope my question makes sense lol.
cheaperbythe121 h, 31 m ago

Anyone know if I can switch and transfer to this from a current account …Anyone know if I can switch and transfer to this from a current account that doesn't have any direct debits setup and subsequently setup two DD's from my main (different) current account or does it need to be same current account with at least two DD's in place? Hope my question makes sense lol.


The DDs need to be active on the account you switch before switching it - info states 'Once you’ve switched using the Current Account Switch Service, including two active Direct Debits' so they need to be active first. To be fair this is standard on most accounts paying a switching bonus.
eslick10 h, 26 m ago

Just a thought maybe they saw it in store and not the MSE email that came …Just a thought maybe they saw it in store and not the MSE email that came out dats ago


Would agree with you but the wording is the same as MSE so I would think the info came from there
pete_1019 h, 47 m ago

The DDs need to be active on the account you switch before switching it - …The DDs need to be active on the account you switch before switching it - info states 'Once you’ve switched using the Current Account Switch Service, including two active Direct Debits' so they need to be active first. To be fair this is standard on most accounts paying a switching bonus.



Thanks. I'll add a couple of my DD's to the redundant account then switch to this M&S account. Thanks again.
daz196912 h, 11 m ago

Minimum £1000 to be paid in each month 😯



I can't see that it says a minimum of £1000 deposit in a single transaction.
Transfer in £500, after a couple of days it gets transferred back out. Pay it in again and voila, £1000 total paid in.
Rinse and repeat monthly.
Indebt22 h, 1 m ago

I did this by switching from Halifax. Apart from the sh** online banking …I did this by switching from Halifax. Apart from the sh** online banking and app, the deal is a very good one and the £5 top up on a gift card is very much a draw. Also, I now get 5% interest to a linked in current account which is similar to a deal with Nationwide. Definitely good for at least 1 year.


I switched to M&S Banking just over a year ago - got the £125 Giftcard and they topped up with £10 per month for 12 months. Also got the house insurance with them last year and got £50 in M&S Vouchers. They've improved the App recently and I've never had any problems with them.
They give you a small plastic press button gadget, which you need to use generate a new pass number EVERY time you access your online account. It's very irritating if you don't want to carry it around with you for fear of losing it, yet you want to access your account from different computers.
Just switched from HSBC, mobile app must be better than theirs.
Been posted countless times before, same old same old.
The monthly saver is only £250, so hardly an incentive.

Rather than the gift card, give me the "cheddar" and not from the dairy isle, ya get me
of course, it's easy to get the money but it's just as easy to miss out:

i joined up and left it over a month to sort out the DD, missed out... moved my mother's and my joint account (keep an eye on the old folk's spending habits) and because i already have an account, missed out again.

royal pain in the marks!
I looked into this a few months whilst lookingfor a new bank. Short of asking for your inside leg measurement they ask for an awful lot of information which to be honest put me off.
I switched a few months back. Gift card paid for Xmas good, will do same this year.
Thanks. I did this a few months ago. Gift card sent within a month, and £5 credited to gift card every month. Savings also set up, and earning 5% (£75 pa).
Yes, it takes a bit of effort, and they do a follow up call with questions, but you do get a free £125 M&S card for it.
Internet Banking is a hassle with the small disk they give you to enter a code each time, and as I have other banks, that encourages me to not use their bank for daily banking.
Will switch out again when year is up, but that's what has to be done to get any 'interest' from banks at the moment.

The OP took time to post this, and the description is almost the same as the M&S website, where she may have got it from. It is also advertised elsewhere, so the flack about not mentioning MSE are a bit unfair....they are not exclusive for switching deals.
Bestbitter18 m ago

Thanks. I did this a few months ago. Gift card sent within a month, and £5 …Thanks. I did this a few months ago. Gift card sent within a month, and £5 credited to gift card every month. Savings also set up, and earning 5% (£75 pa).Yes, it takes a bit of effort, and they do a follow up call with questions, but you do get a free £125 M&S card for it. Internet Banking is a hassle with the small disk they give you to enter a code each time, and as I have other banks, that encourages me to not use their bank for daily banking.Will switch out again when year is up, but that's what has to be done to get any 'interest' from banks at the moment.The OP took time to post this, and the description is almost the same as the M&S website, where she may have got it from. It is also advertised elsewhere, so the flack about not mentioning MSE are a bit unfair....they are not exclusive for switching deals.


Your missing the point too its not about it been been an exclusive switching deal BUT where the source of the information came from that's all
Obviously, giving you a M&S card...isn't real cash, as it forces you to buy from their store...thus it's probably only worth £25 in real cost to them.
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