Marcus is live!

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..

veryintrigued

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.

They perform a credit check?

Zero_Sum

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.

Even before this account, you'd have been better off going for the lite version & sticking cash into one of the previous best payers of 1.30 - 1.40% as the £4 reduction does eat into the interest rate quite a bit. The full 123 account is a bit of a con really.

karlie88

veryintrigued wrote: »

They perform a credit check?

Nope, they don't perform a credit check.

They'll check your identity electronically but this is not via a credit check. The previous poster is mistaken - you're applying for a savings account; you're not applying for credit.

veryintrigued

karlie88 wrote: »

Nope, they don't perform a credit check.

They'll check your identity electronically but this is not via a credit check. The previous poster is mistaken - you're applying for a savings account; you're not applying for credit.

Was tongue in cheek