Marcus is live!

Steve_xx

andy265 wrote: »

I opened an account yesterday and transferred over £1 as a test that still hasn't arrived, did yours get there eventually?

It should get there if you got the details correct, of course!

However, it is not unknown for new payees to suffer delays. I've noted this problem with new payees setup from Santander and HSBC.

Oddly enough, small amounts seem to attract more attention than middling amounts. A £1 payment to a new payee might attract more attention than say £250 I guess this may be because fraudsters are known to attempt to move small amounts before going for the kill! But that's just my thoughts on it, I've no hard evidence to back this.

andy265

Looking at the details on my online banking, it definitely went to the right place. I'll wait until tomorrow and contact them then if it still hasn't arrived.

Makes sense what you say about small amounts being more likely to be checked (especially to new payees) than bigger amounts.

YorkshireBoy

andy265 wrote: »

I'll wait until tomorrow and contact them then if it still hasn't arrived.

Presumably you haven't yet read the help files on their website?...

If you’ve transferred money over the weekend, it can take until the end of Monday to show in your account depending on when we receive it.


https://www.marcus.co.uk/uk/en/public-site/help

andy265

YorkshireBoy wrote: »

Presumably you haven't yet read the help files on their website?...

Thought I had, but didn't see that Thanks!

Ballard

NoviceAngel wrote: »

That really does seem odd, as the source of any funding is really nothing to do with them!

Banks have a legal obligation to ascertain the source of significant funds so it is very much their business I’m afraid.

NoviceAngel

Ballard wrote: »

Banks have a legal obligation to ascertain the source of significant funds so it is very much their business I’m afraid.

I certainly wasn’t aware of any ‘legal obligation’ so thanks for that info.

It does seem bizarre though that whether ‘significant’ funds are either inherited, earned or simply saved over the years, that the source of any savings or investment needs to be declared. Isn’t an individual entitled to any privacy these days?

NoviceAngel

YorkshireBoy wrote: »

Presumably you haven't yet read the help files on their website?...

I wasn’t aware of that either, I wonder if the funds need to be manually credited then ?

I’ve noticed a few hours delay normally, but generally when I use faster payments between the major banks, they are mostly instantaneous - even at the weekends.

masonic

NoviceAngel wrote: »

It does seem bazaar though that whether ‘significant’ funds are either inherited, earned or simply saved over the years, that the source of any savings or investment needs to be declared. Isn’t an individual entitled to any privacy these days?

You only need to share these details with those you give the money to look after. You can keep the information private from others.

RG2015

NoviceAngel wrote: »

It does seem bazaar though that whether ‘significant’ funds are either inherited, earned or simply saved over the years, that the source of any savings or investment needs to be declared. Isn’t an individual entitled to any privacy these days?

They have to follow the rules of the market.

Steve_xx

RG2015 wrote: »

They have to follow the rules of the market.

You mean the market as in the "bazaar"?