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Thread: changes to Marks monthly saver account

  1. #1
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    Default changes to Marks monthly saver account

    At the moment, as I expect we all are, I am drowning in letters from banks and building societies about changes to terms and conditions following on from the changes to UK tax rules etc

    so this morning rather than them all festering in the In Tray until they went yellow and curling I decided to plough through them reading, filing if need be or dumping in the paper recycling.

    Tagged onto the one from Marks I found some changes to the M & S Monthly saver.

    If you have one now attached to your Marks current account everything continues as normal so if you are thinking of doing a switch through the Current Account switch service do it before April 6th 2016.

    If you have an ongoing Monthly saver when it comes to its maturity date then you will need to have a current account and 2 active direct debits.

    at the moment all I have is a standing order which sends 250 from our main account to Marks current and from there it goes into the monthly saver.
    I now in month 9 so my anniversary date is in the next tax year.
    I don't use the current account for anything else so rather than wait for the anniversary date I need to be setting up some direct debits now.

    Not sure what is classed as active - could this just be once a year? What would happen if you cancel your direct debit a few months later I wonder.

    I seem to think there is a Tesco easy access account you can open and then have money go into each month - have I made this up?

    any advice please
    Achieved Gold award for my 50th blood donations in12/11. Now 07/03 just given my 62nd blood donations

  2. #2

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    Also received a letter from m&s credit card as from 28thfeb only 1 point for every 5 spent whereas currently 1 point for everything 2 spend. Just applied for nationwide credit card which has a good offer to tempt you in of 25 off first spends. Shall use for a year and then ditch.

  3. #3
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    Quote Originally Posted by Matty17r View Post
    Also received a letter from m&s credit card as from 28thfeb only 1 point for every 5 spent whereas currently 1 point for everything 2 spend. Just applied for nationwide credit card which has a good offer to tempt you in of 25 off first spends. Shall use for a year and then ditch.
    also with nationwide credit card you get cashback which accumulates through the year and it comes off the December bill automatically

    and you can sign up to nationwide rewards

    https://nationwide.visaoffers.eu/portal/edo/home
    Achieved Gold award for my 50th blood donations in12/11. Now 07/03 just given my 62nd blood donations

  4. #4

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    Quote Originally Posted by Matty17r View Post
    Also received a letter from m&s credit card as from 28thfeb only 1 point for every 5 spent whereas currently 1 point for everything 2 spend. Just applied for nationwide credit card which has a good offer to tempt you in of 25 off first spends. Shall use for a year and then ditch.
    Same letter for me too.

    Have already got the Nationwide credit card (had it for a few years) and cash back of .25% so a fraction better than the new M & S equivalent cash back from 28th Feb

  5. #5
    Join Date
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    Are you sure that your Nationwide card is only paying 0.25% cashback? If so, you should be able to improve on that - the latest T&Cs for their Nationwide Select card pay 0.5% cashback, as does the Asda Money credit card. Various AMEX cards pay more but 0.5% is pretty much the best percentage rate available for Visa/MasterCard now; the Halifax Clarity Reward card flat rate (5/month) is also worth considering if you spend 300pcm on the card.

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