The Top Easy Access Savings Discussion Area

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?

darren72

I-LOV-MONEY wrote: »

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

I opened my account on 26/09 and logged in each day since but have never been asked for a code ?

masonic

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.

That means you have 15 minutes to enter the correct code, or it times out and you need to request another. It doesn't say anything about what happens after you enter the correct code. It could ask to re-authenticate your device again after a few days, a month, or longer/never.

Stompa

darren72 wrote: »

I opened my account on 26/09 and logged in each day since but have never been asked for a code ?

I've been asked several times, you can choose for it to be sent by email or SMS.

SpanishBlue

I-LOV-MONEY wrote: »

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 !!!)

I agree. Not only that, the only way you can close the old one is by speaking to them on the phone and there can be quite a wait to do that sometimes.


It would be much easier if you could just convert your old account into the latest one online.

I-LOV-MONEY

SpanishBlue wrote: »

I agree. Not only that, the only way you can close the old one is by speaking to them on the phone and there can be quite a wait to do that sometimes.


It would be much easier if you could just convert your old account into the latest one online.

TBH I leave the old one dormant with 0 balance. The only problem, what happens to any end of year interest which was for the old account? Do they automatically send it to the new account or send you a cheque???

ColdIron

There are two interest payments. The bonus interest payment is credited to your account after the 1 year bonus period ends. The standard interest payment is credited to your account on 31st March every year. If you leave the account open both of the above will happen. If you close the account they will pay both payments to wherever you ask them to, e.g. your new internet saver. Obviously they won't pay the bonus payment twice