The Top Easy Access Savings Discussion Area

colsten

Apparently, if you close your Marcus account, for some weird reason you cannot get another one in the future. I have kept mine with £1 in it.

I-LOV-MONEY

colsten said:

Apparently, if you close your Marcus account, for some weird reason you cannot get another one in the future. I have kept mine with £1 in it.

They are not taking on new customers, so if you close the account and want to start again, you would be like a new customer.

Where do you get 0.6 / 0.78% from  Is it worth moving for a few pence more each year?

Consumerist

I-LOV-MONEY said:

. . . Where do you get 0.6 / 0.78% from  Is it worth moving for a few pence more each year? . . .

Lloyds group current accounts presently pay 0.6% on first £4k + 1.5% on £4k - £5k.

No telling how much longer this may last so might not be worth the bother.

colsten

I-LOV-MONEY said:

colsten said:

Apparently, if you close your Marcus account, for some weird reason you cannot get another one in the future. I have kept mine with £1 in it.

Where do you get 0.6 / 0.78% from  Is it worth moving for a few pence more each year?

Not sure whether you are asking me but the 0.6% in Lloyds/BOS is obvious, and many people are still getting twice as much, or at least above 1%  (famous last words!)  in instant access accounts that are no longer available to new applicants. I think it's mainly those who never even jumped on the Marcus bandwagon as they weren't actually ever the top instant access provider. But hey, it's all history now.

MoneyLovesCompany

I believe that HMRC is currently paying 0.50% on overpaid tax. Plus it is tax free interest. Keep it there as long as you want and claim a refund when you need it. Simples!

I-LOV-MONEY

I tend to pay exactly the amount due.   Unfortunately they never contact me to say I have overpaid (unless it is a spam call !).

BigBlueSky

MoneyLovesCompany said:

I believe that HMRC is currently paying 0.50% on overpaid tax. Plus it is tax free interest. Keep it there as long as you want and claim a refund when you need it. Simples!

I hadn't even thought about this - Not a bad idea.

colsten

Marcus re-opens to savers with an also-run 0.5% instant access account.

nottsphil

colsten said:

Marcus re-opens to savers with an also-run 0.5% instant access account.

It's the same account. 

nottsphil

I-LOV-MONEY said:

colsten said:

Apparently, if you close your Marcus account, for some weird reason you cannot get another one in the future. I have kept mine with £1 in it.

Where do you get 0.6 / 0.78% from  Is it worth moving for a few pence more each year?

It's a few extra pounds, not pence. 14, in fact on £5,000.