Marcus is live!

Xenon

I have just opened my account

It was simple quick and easy

Did not need or receive a text to open or verify just used my email address (which arrived in seconds)

1st impressions - nice clear and simple website

Just the way banking web sites should be i might add

Zero_Sum

murphydavid wrote: »

I thought the lite account did not pay interest? So with full 123 the £4/£5 is balanced by cashback then you get 1.5% interest on your balance.

It doesnt. The point is the £4 isnt worth the 1.5%
You can get a better deal elsewhere

Zero_Sum

AnotherJoe wrote: »

Exactly. So that posters comment was incorrect.

Nope. You're now making up things.
I said it gets same cashback. This is true. Ive not said interest. You're effectively paying £4 for the interest. Its a rip off

tel_

Terry_Towelling wrote: »

Are you sure the BM account is a 'regular saver' that has a maturity date? I have a BM internet saver paying that rate but it is just an easy-access saver and the bonus rate ends after 12 months rather than matures.

Sorry, you're correct, it's an 'Internet Saver' easy access account. But where it gives the anniversary date it says maturity date - not that I expect to get anything.

intalex

ColdIron wrote: »

Monthly anniversary (monthiversary?) of account opening apparently

And is it paid into the Savings account itself, or out to the linked current account?

RG2015

intalex wrote: »

And is it paid into the Savings account itself, or out to the linked current account?

"Interest will be calculated on the balance in your Marcus account at the end of each day. Interest will be paid monthly into your Marcus account."

https://www.marcus.co.uk/content/dam/mosaic/savings/pdf/Marcus_Terms_and_Conditions.pdf

RG2015

Zero_Sum wrote: »

Nope. You're now making up things.
I said it gets same cashback. This is true. Ive not said interest. You're effectively paying £4 for the interest. Its a rip off

There has been a lot of discussion on the true value of the Santander 123 current account but this post has fully clarified it.

Now that you can get the same 1.5% easy access with Marcus as you do with the Santander 123 account you are effectively paying £48 per year for no benefit whatsoever.

AnotherJoe

RG2015 wrote: »

There has been a lot of discussion on the true value of the Santander 123 current account but this post has fully clarified it.

Now that you can get the same 1.5% easy access with Marcus as you do with the Santander 123 account you are effectively paying £48 per year for no benefit whatsoever.

The same?
Can I have direct debits out of this account ?
Can I have a debit card ?
Can I get cash from a cash point?
Can I add money into this account from any other account?
Can others send money to this account ?
Can I use this account to pay bills ?
Can I use it to buy things online ?

Other than that, what have the Romans ever done for us ?

ColdIron

You can do all of the above with the 123 Lite. After over 6 years with my 123 I'm downgrading it to Lite as it doesn't make sense for me any more. I'll still get the cashback and access to the Regular eSaver but save myself £48 pa. What's not to like?

IanManc

ColdIron wrote: »

You can do all of the above with the 123 Lite. After over 6 years with my 123 I'm downgrading it to Lite as it doesn't make sense for me any more. I'll still get the cashback and access to the Regular eSaver but save myself £48 pa. What's not to like?

I downgraded mine by phone yesterday for the same reasons. Once I'd been put through to "Sales" who deal with downgrading, it took about ten minutes.