Marcus is live!

george4064

All working fine for me and no issues whatsoever so far.

katies_mum

Its working fine for us as well and we are very impressed with the speed of deposits from our bank to Marcus accounts, its a matter of minutes. We withdrew money from our AA savings yesterday and it has still not made it to our banks!!!

Bobby4puddings

I opened a Tesco savings account in Jan 2018 with 1.3% interest which includes the bonus rate.
If I close the account will I still be paid the full 1.3% interest or do I have to wait the12 months before the bonus is paid?

System

ColdIron wrote: »

£48 a year, the difference between the £60 123 fee and the £12 123 Lite fee.

And more than recouped if you have your bills come out of the 123 account. I currently get £10.64 a month cashback from gas, electric, water, phones, mortgage, council tax. If you remove the £4.28 mortgage it still more than covers the £60 a year fees.

1.5% on a savings account is pitiful especially when inflation is almost double that. I can't see why everyone is getting so enthusiastic about it when any money sat in it is going to be buying you less year on year. If your interest isn't at least the same as the rate of inflation you're setting fire to your money.

EachPenny

Tarambor wrote: »

And more than recouped if you have your bills come out of the 123 account. I currently get £10.64 a month cashback from gas, electric, water, phones, mortgage, council tax. If you remove the £4.28 mortgage it still more than covers the £60 a year fees.

You still get your cashback with the Lite account, for £48pa less fee.

Tarambor wrote: »

1.5% on a savings account is pitiful especially when inflation is almost double that. I can't see why everyone is getting so enthusiastic about it when any money sat in it is going to be buying you less year on year. If your interest isn't at least the same as the rate of inflation you're setting fire to your money.

As you are if you are paying an extra £48pa to earn the same amount of cashback.

ColdIron

Bobby4puddings wrote: »

I opened a Tesco savings account in Jan 2018 with 1.3% interest which includes the bonus rate.
If I close the account will I still be paid the full 1.3% interest or do I have to wait the12 months before the bonus is paid?

You'll get both the standard rate and the bonus rate when you close your account

SpanishBlue

Tarambor wrote: »

1.5% on a savings account is pitiful especially when inflation is almost double that. I can't see why everyone is getting so enthusiastic about it when any money sat in it is going to be buying you less year on year. If your interest isn't at least the same as the rate of inflation you're setting fire to your money.

If you know of another instant access account with full FSCS protection that uses the faster payments system and you don't have to pay in a certain amount or have some direct debits paid every month and it has a better interest rate, please tell us where!

littlemissbossy

wallofbeans wrote: »

Ive tried to sign up with Marcus today. Got through to them sending me a verification email. Waited a while to get one. Typed it in correctly but it said I hadn't. Resent it. Again, waited a while to get it. Again, didn't work. Tried same code again but still didn't work. Resent it again. Got third one a little quicker. Typed it in correctly. And now it says I'm locked out and need to call them.

I typed all three verification codes into the browser correctly as soon as I got them via email. So it must be something wrong their end. Perhaps the codes taking so long to get to me that they are no longer valid, the third got to me within 15 minutes though...

Has anyone else had this problem? I don't even know if I'm on their system yet. Might be worth trying again. I can't call them today as I'm working. All very frustrating.

You are using the UK site rather than the US one ??

Masomnia

Hi. Does anyone know if you can produce pdf statements on the Marcus platform?

ColdIron

Tarambor wrote: »

And more than recouped if you have your bills come out of the 123 account. I currently get £10.64 a month cashback from gas, electric, water, phones, mortgage, council tax. If you remove the £4.28 mortgage it still more than covers the £60 a year fees.

You can get the same cashback from the 123 Lite account so let's remove that from the equation. You can get the same 1.5% from Marcus as your 123 so let's remove that from the equation too. All that's left is the £48 difference in fees. You are paying more money than you need to

1.5% on a savings account is pitiful especially when inflation is almost double that. I can't see why everyone is getting so enthusiastic about it when any money sat in it is going to be buying you less year on year. If your interest isn't at least the same as the rate of inflation you're setting fire to your money.

A curious argument. Is your 1.5% interest from your 123 the same as the rate of inflation? One presumes that you are also setting fire to your money and also the additional £48 difference in fees