The Top Easy Access Savings Discussion Area

k_man

Zerforax said:

AlwaysLearnin said:

Marcus appear to have now increased to 1.15% (with bonus)

Does that apply to new accounts or all? We opened a Marcus account about a month ago at 1% as was debating if we should switch to another provider but if it's 1.15% now its less of a gap..

The interest rate shows on your account in the app or website.
Shows as 1.15% today for mine, which is a few years old.

Malchester

Zerforax said:

AlwaysLearnin said:

Marcus appear to have now increased to 1.15% (with bonus)

Does that apply to new accounts or all? We opened a Marcus account about a month ago at 1% as was debating if we should switch to another provider but if it's 1.15% now its less of a gap..

Yes. It applies to existing accounts as well as new ones. One thin I like about Marcus (amongst others) is that when they increase the rate they do so for all accounts - new and existing, unlike others such as Tesco Bank who bring out a new issue at the better rate and leave the older issues at the lower rate and if you want the higher rate with Tesco you have to open a new account. That's basically why I don't bother with their accounts now.

murphydavid

Zerforax said:

AlwaysLearnin said:

Marcus appear to have now increased to 1.15% (with bonus)

Does that apply to new accounts or all? We opened a Marcus account about a month ago at 1% as was debating if we should switch to another provider but if it's 1.15% now its less of a gap..

Also note that with Marcus; to advance your bonus expiry date; you need to update it. They don't do that for you automatically. 

jaypers

Wonder how many people are pulling money out of their Virgin M+ accounts. Not long ago was market leading, and now falling behind. Chase will be in this position in a few months time I suspect……..pretty sure loss leaders are launched in the hope that people just leave their money in. If more of us jumped ship for the best deals, providers would up their rates quicker. 

Daliah

jaypers said:

Wonder how many people are pulling money out of their Virgin M+ accounts. Not long ago was market leading, and now falling behind. Chase will be in this position in a few months time I suspect……..pretty sure loss leaders are launched in the hope that people just leave their money in. If more of us jumped ship for the best deals, providers would up their rates quicker. 

My 1% VM accounts have been at £0 since the day Chase launched their Saver, and I would be surprised if any MSEer still has money in their 1% VM accounts now. I won't be pulling any money out of my 2% VM accounts for quite a while yet, though  . 

BigBlueSky

Whoops! - I have the full £2,000 in my Virgin Money account.  I thought it was 2% for some reason ??

Molehusband

murphydavid said:

Zerforax said:

AlwaysLearnin said:

Marcus appear to have now increased to 1.15% (with bonus)

Does that apply to new accounts or all? We opened a Marcus account about a month ago at 1% as was debating if we should switch to another provider but if it's 1.15% now its less of a gap..

Also note that with Marcus; to advance your bonus expiry date; you need to update it. They don't do that for you automatically. 

What precisely do you have to do to "update" your account to advance the bonus expiry date?

RG2015

BigBlueSky said:

Whoops! - I have the full £2,000 in my Virgin Money account.  I thought it was 2% for some reason ??

It's up to £1,000 in the VM current account that earns 2.00% interest and up to £25,000 in the VM saver that earns 1.00%.

There is no £2,000 limit anywhere.

RG2015

Molehusband said:

murphydavid said:

Zerforax said:

AlwaysLearnin said:

Marcus appear to have now increased to 1.15% (with bonus)

Does that apply to new accounts or all? We opened a Marcus account about a month ago at 1% as was debating if we should switch to another provider but if it's 1.15% now its less of a gap..

Also note that with Marcus; to advance your bonus expiry date; you need to update it. They don't do that for you automatically. 

What precisely do you have to do to "update" your account to advance the bonus expiry date?

Precisely that, the bonus expiry date which is 1 year from when you update it.

Look for "Can I review the bonus?"

https://www.marcus.co.uk/uk/en/public-site/help

Daliah

Molehusband said:

murphydavid said:

Zerforax said:

AlwaysLearnin said:

Marcus appear to have now increased to 1.15% (with bonus)

Does that apply to new accounts or all? We opened a Marcus account about a month ago at 1% as was debating if we should switch to another provider but if it's 1.15% now its less of a gap..

Also note that with Marcus; to advance your bonus expiry date; you need to update it. They don't do that for you automatically. 

What precisely do you have to do to "update" your account to advance the bonus expiry date?

You have to "review your savings". Look in the bottom right corner in your online view of your Marcus account.