The Top Easy Access Savings Discussion Area

RG2015

typistretired said:

Probably Marcus have too much money in their savings accounts and don’t want anymore. 

Surely with Virgin Money offering 1.00% on up to £25k per account, the current Marcus 0.60% will lead to a massive outflow.  

Molehusband

BigBlueSky said:

canaldumidi said:

Getting slowly dragged into the 21st C. So can't access Atom on my laptop? Phone lives in the car for emergencies...!

That is the really annoying thing about app only banks such as Atom - No way to access from a regular computer/laptop, which I would prefer over using my mobile.

I agree and I suspect that's why this bank is called "Atom" because it expects customers to operate their accounts using phones with microscopic keyboards. I don't mind using my phone to view information about my account including validation codes etc. However I'm not interested in using them for things like setting up detailed information about payments I want to manage. I need the comfort and security of a PC on my desk accessing a website to enter complicated data.

typistretired

A iPhone is better for security than a laptop

intalex

RG2015 said:

Surely with Virgin Money offering 1.00% on up to £25k per account, the current Marcus 0.60% will lead to a massive outflow.  

And the longer they wait to announce something, the bigger the incentive they'll need to offer to turn it around into inflows. I personally do prefer Marcus to Atom as it has both app and web interfaces, which is important for contingency, but they really do unnecessarily complicate things with the rate bonus which one can currently renew perpetually. Unless they plan to use this for time limited promotional rate bonus offers once competition on savings hots up (it's already started)...

MDMD

veggieblob said:

From Virgin Money.  
Breaking news!

From 1 March we'll be boosting our M Plus linked saver to a red-hot and market-leading interest rate of 1% AER (variable) on balances up to £25,000. Even better, we’re also increasing the interest rate to 0.50% AER (variable) on balances above £25,000.

If you don't already have an M Plus Account, don’t miss out, apply now: https://virg.in/4umW

According to this Reddit thread they have also introduced a restriction on the number of accounts that can be opened. I can’t find a reference anywhere in the terms though 

https://www.reddit.com/r/UKPersonalFinance/comments/svvjjz/virgin_money_announces_1_linked_savings_account/


Edit: https://forums.moneysavingexpert.com/discussion/comment/78999225/#Comment_78999225

What is the maximum number of accounts I can have? From 18 February 2022, you are only able to open 1 of these accounts in your own name. Accounts opened in your own name after this date that take you over this maximum number will have to be closed. If we close your account, we’ll return any money due to you. Any accounts already opened before this date will remain unchanged even if you exceed the maximum now allowed. 

Section62

typistretired said:

A iPhone is better for security than a laptop

Any device is only as secure as the person using it.

I'd suggest that the PC I do my online banking on is more 'secure' than many iPhones. (not that I'd expect any banks to acknowledge this though)

Molehusband

typistretired said:

A iPhone is better for security than a laptop

Please explain that comment. The security features which I have installed on my personal computer makes it significantly more secure than the average smartphone. Also my PC has a normal sized keyboard which avoids al the problems associated with keying in the wrong characters due to a phone's usual microscopic virtual keyboard.

My PC also has the advantage over my phone of not unexpectedly receiving an incoming phonecall or text message to disrupt me while I'm in the middle of working on a complicated financial transaction.

masca

Molehusband said:

typistretired said:

A iPhone is better for security than a laptop

Please explain that comment. The security features which I have installed on my personal computer makes it significantly more secure than the average smartphone. Also my PC has a normal sized keyboard which avoids al the problems associated with keying in the wrong characters due to a phone's usual microscopic virtual keyboard.

My PC also has the advantage over my phone of not unexpectedly receiving an incoming phonecall or text message to disrupt me while I'm in the middle of working on a complicated financial transaction.

Statistically your laptop/desktop is more likely (and hugely so if you use Windows!) to be affected by malware than a smartphone, and an Iphone slightly less likely than an Android device: 
https://uk.pcmag.com/encryption/128367/windows-computers-account-for-83-of-all-malware-attacks-in-q1-2020

Molehusband

masca said:

Molehusband said:

typistretired said:

A iPhone is better for security than a laptop

Please explain that comment. The security features which I have installed on my personal computer makes it significantly more secure than the average smartphone. Also my PC has a normal sized keyboard which avoids al the problems associated with keying in the wrong characters due to a phone's usual microscopic virtual keyboard.

My PC also has the advantage over my phone of not unexpectedly receiving an incoming phonecall or text message to disrupt me while I'm in the middle of working on a complicated financial transaction.

Statistically your laptop/desktop is more likely (and hugely so if you use Windows!) to be affected by malware than a smartphone, and an Iphone slightly less likely than an Android device: 
https://uk.pcmag.com/encryption/128367/windows-computers-account-for-83-of-all-malware-attacks-in-q1-2020

I don't have a "statistical" PC. I have PC fitted with a very high level of security. This, together with a proper keyboard and freedom from being interrupted by unexpected incoming calls & texts, makes it significantly more secure than waving around a phone and struggling to carry out complicated financial transactions using a microscopic virtual keyboard..

cx6

I am interested - what is your very high level of security please?