Marcus Bank - Easy Access Savings Account

afis1904

kev2009 said:

Hi all,
If i opened a Marcus account, do they need any forms to fill in or verify anything by post or receive anything via post before I am up and running? or is it just setup in a few minutes and ready to go?
I recently opened a Coventry RS and it was all setup online BUT i needed to wait for the login ID & grid card before i could access the account, they didn't need any ID verification so i presume whatever checks they did, it was all ok.
Thanks
Kev

I opened mine on a 25-minute train journey and still had 15 minutes left after I had added some money.

colsten

kev2009 said:

Hi all,
If i opened a Marcus account, do they need any forms to fill in or verify anything by post or receive anything via post before I am up and running? or is it just setup in a few minutes and ready to go?
I recently opened a Coventry RS and it was all setup online BUT i needed to wait for the login ID & grid card before i could access the account, they didn't need any ID verification so i presume whatever checks they did, it was all ok.
Thanks
Kev

I got online at Marcus in just about no time (and have not had reason to complain since), but user Puffer above reports a nightmare - so it's not the same for everyone. You can find out for yourself in a couple of minutes, without making any commitments.

where_are_we

No problems with Marcus. Log in is quick and moving money out quick (no codes sent to phone,grid cards or card machines as with current accounts) as it is a savings account with only one nominated account. The issue is how long they will keep at 1.3% variable.

bargainhunter888

how does the nominated account thing work?
so if i open a marcus account, i will have an account number / sort code, but i need to link it with another bank account? so it means i can only pay in and transfer between 2 accounts?
i have a Halifax regular saver only paying 0.2% so if i open a marcus account can i link it to a savings account, or does it have to be linked to a current account?

eskbanker

bargainhunter888 said:

i have a Halifax regular saver only paying 0.2% so if i open a marcus account can i link it to a savings account, or does it have to be linked to a current account?

https://www.marcus.co.uk/uk/en/savings/online-savings-account

You can pay money to and from your Marcus account from your linked account, which must be a UK current account in your name.

General_Grant

bargainhunter888 said:

how does the nominated account thing work?
so if i open a marcus account, i will have an account number / sort code, but i need to link it with another bank account? so it means i can only pay in and transfer between 2 accounts?
i have a Halifax regular saver only paying 0.2% so if i open a marcus account can i link it to a savings account, or does it have to be linked to a current account?

Though the link needs to be to a current account once you are up and running you can change the linked account (still a current account but can be with a different institution).

bargainhunter888

General_Grant said:

bargainhunter888 said:

how does the nominated account thing work?
so if i open a marcus account, i will have an account number / sort code, but i need to link it with another bank account? so it means i can only pay in and transfer between 2 accounts?
i have a Halifax regular saver only paying 0.2% so if i open a marcus account can i link it to a savings account, or does it have to be linked to a current account?

Though the link needs to be to a current account once you are up and running you can change the linked account (still a current account but can be with a different institution).

so i can't transfer money from a UK savings accounts basically.
i need to transfer funds from my savers account into a current account into a Marcus account

kev2009

Thanks all so they don't write to you to verify anything etc before the account is operational? Just apply online and its up and running? Sounds perfect!
Kev

ColdIron

kev2009 said:

Thanks all so they don't write to you to verify anything etc before the account is operational? Just apply online and its up and running? Sounds perfect!
Kev

Like many banks, not if you pass the electronic checks

surreysaver

kev2009 said:

Thanks all so they don't write to you to verify anything etc before the account is operational? Just apply online and its up and running? Sounds perfect!
Kev

I opened one last week. Although they sent a letter confirming the details, I could use the account immediately