Marcus is live!

HardCoreProgrammer

I converted my Santander 123 account (£5 charge per month) to Santander 123 Lite (£1 charge per month) and moved everything except £1000 to Marcus.
I am now getting the same interest rate (1.5%) and saving £4 per month in fees, with no 20K upper limit.
Santander will need to up their game soon, or a lot of people will be doing as I have just done.

Rheumatoid

HardCoreProgrammer wrote: »

I converted my Santander 123 account (£5 charge per month) to Santander 123 Lite (£1 charge per month) and moved everything except £1000 to Marcus.
I am now getting the same interest rate (1.5%) and saving £4 per month in fees, with no 20K upper limit.
Santander will need to up their game soon, or a lot of people will be doing as I have just done.

Do you still get access to the 123 5% regular saver?

ColdIron

Rheumatoid wrote: »

Do you still get access to the 123 5% regular saver?

Yes

From the 1|2|3 Lite T&Cs

• When you open a 1I2I3 Lite Current Account you become part of 1I2I3 World

From the Regular eSaver summary

• The account offers you 3% AER/gross (fixed) for 12 months or 5% AER/gross (fixed) for 12 months if you’re a 1|2|3 World or Santander Select customer.

Kernel_Sanders

I'm presuming withdrawals to your nominated account can't by made by direct debit.
I've looked at the 'top 5 best buy' tables in the Money supplement of today's Telegraph and the account features in neither the 'with bonus' nor 'without' tables for instant, penalty-free access. All ten accounts listed are paying under 1.5% p.a

RG2015

Kernel_Sanders wrote: »

I'm presuming withdrawals to your nominated account can't by made by direct debit.
I've looked at the 'top 5 best buy' tables in the Money supplement of today's Telegraph and the account features in neither the 'with bonus' nor 'without' tables for instant, penalty-free access. All ten accounts listed are paying under 1.5% p.a

Heads will roll at the Telegraph!

masonic

Kernel_Sanders wrote: »

I'm presuming withdrawals to your nominated account can't by made by direct debit.

Do you mean "from your nominated account" or do you fundamentally misunderstand how direct debits work?

Kernel_Sanders

masonic wrote: »

Do you mean "from your nominated account" or do you fundamentally misunderstand how direct debits work?

Sorry yes, I meant 'from', as with my PO Online Saver (issue 31) whose interest rate (to answer my own earlier question) is 1.32%.

If I open a Marcus this evening and fund it from my 4 BoS/Lloyd's accounts, will I benefit from two days extra interest? If not, I'd rather wait until Monday.

masonic

Kernel_Sanders wrote: »

If I open a Marcus this evening and fund it from my 4 BoS/Lloyd's accounts, will I benefit from two days extra interest? If not, I'd rather wait until Monday.

You'll earn interest from the same day the money is received, and reports suggest money sent today has been received near instantly.

...and no, DD is not a funding option for the account.

Sallyforth

Hilarious - Marcus rejected me. Possibly because my credit rating is trashed. Pity they don’t realise I have a half million inheritance I’m trying to invest sensibly! Their loss.

soulsaver

Sallyforth wrote: »

Hilarious - Marcus rejected me. Possibly because my credit rating is trashed. Pity they don’t realise I have a half million inheritance I’m trying to invest sensibly! Their loss.

You were planning to invest £1/2 mill with them..?
I'd advise you to get some advice..