The Top Easy Access Savings Discussion Area

Nick_C

I-LOV-MONEY wrote: »

Not over-happy with the security to access the Marcus account. E-mail and password only.

But you can only withdraw money to your own linked account, so why is that a problem?

ColdIron

I-LOV-MONEY wrote: »

I recently opened a new Tesco Savings account at 1.31% interest. Now I see it has gone up to 1.36 so have opened another one! When did it increase the second time?

Maybe I should forget Tesco and use Marcus instead? I would like it to 'settle down' first, after every saver has put their 10/- (!) in to see if they maintain their interest rates.

The 1.31% rate started 04/09 and the 1.36% on 26/09, gotta be quick with Tesco. Marcus is a variable rate account just like Tesco. I can't see Marcus dropping their market entry rate in a hurry, Tesco changes at the drop of a hat. All you are achieving by waiting is getting less interest

I-LOV-MONEY

masonic wrote: »

You can "enhance" your security by clearing your cookies after logging out (in case you are worried about someone transferring your money to your linked bank account).

Thanks. I suppose the fact that monies can only be transferred to / from linked account makes it relatively safe .... unless someone accesses both accounts ?!!!

darren72

I-LOV-MONEY wrote: »

Not over-happy with the security to access the Marcus account. E-mail and password only.

If someone managed to login to your Marcus account though the worst they could do would be to transfer your funds to your own nominated bank account - They couldn't get their hands on the money.

I-LOV-MONEY

ColdIron wrote: »

The 1.31% rate started 04/09 and the 1.36% on 26/09, gotta be quick with Tesco. Marcus is a variable rate account just like Tesco. I can't see Marcus dropping their market entry rate in a hurry, Tesco changes at the drop of a hat. All you are achieving by waiting is getting less interest

I missed out on Tesco going to 1.31%. I have been languishing on 1.2% for sometime. It is a nuisance that everytime they up their rate you have to create a new account, and then transfer some funds into it. I then have to wait for a time before it will let me withdraw from the new account. (Perhaps I should change my user name to I-Used-To-Lov-Money !!!)


If Marcus decides it has received 'too much' money, might they then drop their rate?

masonic

I-LOV-MONEY wrote: »

Thanks. I suppose the fact that monies can only be transferred to / from linked account makes it relatively safe .... unless someone accesses both accounts ?!!!

Yes, and they'd need your email address, password, and access to a computer/device you'd previously used to log in even to do that much. You'd be best to focus on the security of your linked account as this is probably the gateway to several risks.

A useful compromise is for them to require a device to be re-authorised every 30 days or so. Perhaps they do this already.

colsten

sully1311 wrote: »

If I were to close my AA Easy Saver account early, will I still get the full amount of interest earned up to the close date?

I've scanned through the Ts&Cs and can't see anything regarding this.

It's an instant access saver, with no notice periods or minimum time limits. Thus you can take out your money, and close the account if you wish, whenever you like. In common with all instant access accounts, you will be paid any interest that you have earned up to the withdrawal/closing date.

sully1311 wrote: »

I'm at the minimum threshold now.

That's £100. So over 12 months, you are talking about £1.36 versus £1.50 in interest.

ColdIron

I-LOV-MONEY wrote: »

If Marcus decides it has received 'too much' money, might they then drop their rate?

Of course, just like Tesco or any other bank. The difference is that Goldman Sachs is a gigantic company with deep pockets trying to buy a slice of the UK savings market. Hard to imagine what they would consider 'too much' money would be in those circumstances

jayship

I opened a Marcus account yesterday and when I tried to log in today they sent a code to my mobile which I had to enter. The code lasts for 15 minutes only.

I-LOV-MONEY

jayship wrote: »

I opened a Marcus account yesterday and when I tried to log in today they sent a code to my mobile which I had to enter. The code lasts for 15 minutes only.

I had that earlier. Maybe it sends a code once a day?