The Top Easy Access Savings Discussion Area

2010

EssexHebridean said:

2010 said:

Eirambler said:

Hopefully that's Marcus working their way back to being more competitive now. They often do a rate increase just before an interest rate meeting, so if they do that again next month that would get them back up near the top of the table.

Not much chance, the rise today is the rise before BoE 11th May meeting.

In fairness people have been saying for months that there is no chance of Marcus increasing their rates, since before the last time in fact, and the time before that too...

Their usual pattern has seemingly been to make an increase on the morning of a BoE meeting, so this one if it is the "one before BoE 11th May meeting" is very early compared to previous. 

Marcus have always been slow to respond to BoE increases.
Once it was done the day before the meetings and once on the morning but they were actually catching up from the previous BoE rise a month before.
Even today they are not at the top of the tree.

Another downside is their ISA transfer from them.
They are still using paperwork and cheques.

One good thing about them is, they are as "instant" as you can get for accessing your money.

RedImp_2

Just logged into my Marcus, wasn’t any option to increase bonus rate (not via app at least)

refluxer

RedImp_2 said:

Just logged into my Marcus, wasn’t any option to increase bonus rate (not via app at least)

You need to open the account, go to the 3 dots in the top right corner and select 'View bonus options', scroll down, check the new rate compared with the old one and, if you're happy to proceed, click 'Renew your bonus'.

That's on the Android app at least but I'd imagine the iOS app would be similar.

RedImp_2

refluxer said:

RedImp_2 said:

Just logged into my Marcus, wasn’t any option to increase bonus rate (not via app at least)

You need to open the account, go to the 3 dots in the top right corner and select 'View bonus options', scroll down, check the new rate compared with the old one and, if you're happy to proceed, click 'Renew your bonus'.

That's on the Android app at least but I'd imagine the iOS app would be similar.

Cheers that’s worked.  Wasn’t obvious if I didn’t read this forum wouldn’t know about it

ForumUser7

Newbury BS mentioned they would review rates at the end of April, nothing will be changing:

Update 25 April 2023: We continue to review our savings interest rates, considering a number of factors, including the current market conditions. There will be no changes to saving interest rates at this time. However, we will continue to monitor this and if any future changes are made we will update this page.

Source ~ https://www.newbury.co.uk/news-knowledge/news/bank-of-england-base-rate-change-23-march-2023/

Kazza242

According to Moneyfacts, Sainsbury's Bank are launching Defined Access Saver (issue 42), paying 3.37%.

3.37% on £1000 and above
1.15% on £1 - £999

The minimum opening deposit is £1.

Three penalty-free withdrawals permitted per year.  

The account is now available via the Sainsbury's Bank website: 

https://www.sainsburysbank.co.uk/savings/sav_definedsaver_skip

10_66

Can someone remind me, please, what the timelines are for Zopa and Tandem for withdrawals and payments in?

Bigwheels1111

10_66 said:

Can someone remind me, please, what the timelines are for Zopa and Tandem for withdrawals and payments in?

Tandem was less than 10 minutes for withdrawals, that was for 85k.
Just as quick going in.
Make a small payment first if that makes you happy.
Not got a Zopa account.

jaypers

10_66 said:

Can someone remind me, please, what the timelines are for Zopa and Tandem for withdrawals and payments in?

Zopa generally takes around 20mins for me. Once took around 2 hours. I think the processing they use is slightly different where payments are batched internally and some sort of process runs every half hour or so, as opposed to somewhere like Atom or the big banks where Faster Payments SIP is used and it’s pretty much instant. All good though. 

10_66

Thank you Bigwheels1111 and jaypers, I should've added, are w/d and payments operated over non-bank working days, please?