Marcus is live!

Wheres_My_Cashback

AnotherJoe wrote: »

What about the interest on it !

There wouldn't be any because your funds would hopefully be in a higher paying interest account where you'd be receiving more than you did from a 123.

Krinkle

I only applied for a Coventry 1.4% account the day before yesterday...any reason not to get this one and just not bother with the Coventry one? I assume it may affect my credit rating??

Wheres_My_Cashback

Krinkle wrote: »

I only applied for a Coventry 1.4% account the day before yesterday...any reason not to get this one and just not bother with the Coventry one? I assume it may affect my credit rating??

Ever heard of a savings account that gives you credit ?

Krinkle

Wheres_My_Cashback wrote: »

Ever heard of a savings account that gives you credit ?

I was referring to opening 2 different savings accounts within a couple of days. Is there a 'cooling off' period so that I can ditch the coventry one...no real need for it now?

redux

Krinkle wrote: »

I was referring to opening 2 different savings accounts within a couple of days. Is there a 'cooling off' period so that I can ditch the coventry one...no real need for it now?

The point of the other answer is purely savings accounts (as distinct from bank accounts with reasonable interest) aren't listed with credit reference agencies, so no impact there, choose as you see fit.

bowlhead99

Krinkle wrote: »

I was referring to opening 2 different savings accounts within a couple of days. Is there a 'cooling off' period so that I can ditch the coventry one...no real need for it now?

And Wheres My Cashback was referring to the fact that opening 2 different savings accounts which do not have credit facilities will not be taken into account by a credit reference agency when providing info which is used in assessing your ability to responsibly and apply for and use credit facilities within your means.

That's because, your application for a Coventry savings account, and any application for a Marcus savings account, is not a recent application for credit and should not show as such when a credit provider asks to see your credit file.

If your Coventry account does not have a fixed term and allows you to withdraw without penalty, you can do that and put your money somewhere else (or simply not send the Coventry your money if you haven't already done so).

MrWizard

This is great to have. I've simply run out of Direct Debits for any other accounts and have most of the current account / savers out there. I do want to keep a bit of cash easy to access so even with my BM at 1.45% I'm in for an extra 0.05%

It's hardly a lot but it is current the most so to have the best which will reduce the effect of inflation is great.

darren72

MrWizard wrote: »

This is great to have. I've simply run out of Direct Debits for any other accounts and have most of the current account / savers out there. I do want to keep a bit of cash easy to access so even with my BM at 1.45% I'm in for an extra 0.05%

It's hardly a lot but it is current the most so to have the best which will reduce the effect of inflation is great.

It is also a benefit that transfers in and out of the Marcus account are almost instant - unlike many others.

MrWizard

Oh yes. Birmingham Midshires is hard to manage waiting hours or the next day for something to appear.

This Marcus one was within 10 minutes - amazing.

Kernel_Sanders

darren72 wrote: »

It is also a benefit that transfers in and out of the Marcus account are almost instant - unlike many others.

Such as the Post Office so-called 'Instant' Saver. Is it (issue 31) still paying 1.15%, and does anyone know the time limit (today) for getting money out of it and into my linked account tomorrow?