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Marcus is live!

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Comments

  • ColdIron
    ColdIron Posts: 9,990 Forumite
    Part of the Furniture 1,000 Posts Hung up my suit! Name Dropper
    RG2015 wrote: »
    Be prepared for a long wait to speak to someone and then another wait to get to the sales team and then 10 minutes answering endless questions before the downgrade is completed.

    All in all it took me 35 minutes on the phone. Good job I have inclusive minutes!
    All done and dusted, quite quick and painless as I used the Select team (0800 number, I wonder if that will survive, I suspect I was only offered it as I did use my 123 as a hub for other paying pre-reqs so had a large monthly transfers). Acccont No, debit card and overdraft remain unchanged and I took the opportunity to move my statement date back a week as it suits me better. CS did confirm that any interest accrued would be paid so no need to wait and pay an extra fiver. Thanks again for spurring me into action
  • ColdIron
    ColdIron Posts: 9,990 Forumite
    Part of the Furniture 1,000 Posts Hung up my suit! Name Dropper
    Good luck, let us all know how you get on.
    Easy peasy :)
  • NoviceAngel
    NoviceAngel Posts: 2,274 Forumite
    Part of the Furniture
    edited 8 October 2018 at 9:53AM
    ColdIron wrote: »
    Easy peasy :)

    Thanks for the update, I’ll be doing the same later this month as I have just paid the monthly fee. I also have a select account so hopefully will also get the same level of CS.

    It will take quite a bit of messing around to keep a minimum balance on my new 123 lite. I’ll transfer my large no cashback DDs to another current account that does pay interest and just leave the smaller cashback DDs at Santander.

    I wouldn’t normally bother all the admin for a saving of £4 a month, but the fact Marcus can do 1.5% without a fee, tells me Santander are not exactly playing fare anymore, shame because I’d had that account since Abbey days albeit with a different name and it’s always been my main current account.

    Now I better give Marcus a call and see if I can speed up my account verification before I jump ship.

    EDIT :- just phoned Marcus and it’s taking them longer than expected to verify some accounts that are selected for a random extra security checks, can take up to 10 days at the mo.
    After reading PtL Vaubans Guide , please don't desert us, hang around and help others!

    Hi, we’ve had to remove part of your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE ForumTeam
  • ColdIron
    ColdIron Posts: 9,990 Forumite
    Part of the Furniture 1,000 Posts Hung up my suit! Name Dropper
    edited 8 October 2018 at 9:40PM
    It will take quite a bit of messing around to keep a minimum balance on my new 123 lite. I’ll transfer my large no cashback DDs to another current account that does pay interest and just leave the smaller cashback DDs at Santander.
    I plan to keep my balance at a minimum with standing orders from my Tesco current accounts. Tesco SOs fire on the date you say even if it's a weekend, my bills, Regular eSaver and the £500 are very predictable. To mitigate any problems I've set up a small overdraft as belt and braces

    I closed my 2nd 123 a while back and although I only used my 123 accounts for savings and cashback I've had them since 2013 and quite like the account. Santander have gone from the heady days of £1,200 interest a year with only a £48 fee, to a low value account useful only for a few quids worth of cashback
  • soulsaver
    soulsaver Posts: 6,725 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    Comments about phoning in to change to Lite? You can do it on line:
    After login on rh side click on upgrade/our current acs/123lite/apply/select transfer Santander ac.

    Or here:
    https://www.santander.co.uk/info/current-accounts/123-current-account-range?cm_mmc=xsrhnapply-_-obx-_-obx-_-transfer&icid=OLB-RHN-Upgrade current account

    Then select apply/transfer
  • mattytun
    mattytun Posts: 13,920 Forumite
    Rampant Recycler Xmas Saver! Savvy Shopper! Energy Saving Champion
    I opened my "Marcus account" when it first launched on MSE with £1

    today I just transferred 83k and was showing within 5mins.;)
    Can't sleep, quit counting sheep and talk directly to the shepherd :cool:
  • Tom99
    Tom99 Posts: 5,371 Forumite
    1,000 Posts Second Anniversary
    mattytun wrote: »
    today I just transferred 83k and was showing within 5mins.;)


    Out of interest which bank did you transfer £83k from, or did you pay for a CHAPs payment?
    Most of mine have a £20k or £25k limit.
  • mattytun
    mattytun Posts: 13,920 Forumite
    Rampant Recycler Xmas Saver! Savvy Shopper! Energy Saving Champion
    edited 8 October 2018 at 3:47PM
    Tom99 wrote: »
    Out of interest which bank did you transfer £83k from, or did you pay for a CHAPs payment?
    Most of mine have a £20k or £25k limit.

    Tesco > Marcus (I phoned them up and done it over the phone)
    Can't sleep, quit counting sheep and talk directly to the shepherd :cool:
  • Tom99 wrote: »
    Out of interest which bank did you transfer £83k from, or did you pay for a CHAPs payment?
    Most of mine have a £20k or £25k limit.


    Nationwide have a £10,000 transfer online limit. However you can transfer £10,000 as many times as you like in one day.
  • talexuser
    talexuser Posts: 3,540 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    When I downgraded I also got interest up to the date of swapping with no pro-rata higher fee.
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