Marcus Bank - Easy Access Savings Account

vernall

Elderone said:

Hi has anyone transferred from the Marcus easy access savings account into the Marcus 1 year fixed saver? How easy was it? 

I did it a few weeks ago and was instant. The 1 year fix showed underneath original account on online banking

Elderone

vernall said:

Elderone said:

Hi has anyone transferred from the Marcus easy access savings account into the Marcus 1 year fixed saver? How easy was it? 

I did it a few weeks ago and was instant. The 1 year fix showed underneath original account on online banking

Thanks. Then I dont have to worry about the 14 days to fund the fixed account if I just move bits I need into the easy access first. 

colsten

Elderone said:

Thanks. Then I dont have to worry about the 14 days to fund the fixed account if I just move bits I need into the easy access first. 

That's right. The only risk you run if you do it that way is that the 1-year fixed bond won't be available any longer to new applicants. This may or may not happen, I don't have any insider knowledge, but nothing surprises me these days.

Zanderman

colsten said:

Elderone said:

Thanks. Then I dont have to worry about the 14 days to fund the fixed account if I just move bits I need into the easy access first. 

That's right. The only risk you run if you do it that way is that the 1-year fixed bond won't be available any longer to new applicants. This may or may not happen, I don't have any insider knowledge, but nothing surprises me these days.

Just for info:

We (Mrs Z-man and I) have just been reviewing what to do with cash savings we might, or might not,  need this year (we have some significant spend on the horizon, just don't know when we'll reach it) and have decided to go for a spread across multiple Marcus/Saga fixed rate savers (funded easily via easy access savers).  

The accounts are fixed at 1.45% for 12 months - so it looks like a lock-up fund - but Marcus and Saga do allow money to be removed early by closing the account and losing 90 days interest.  So we can get at the dough.

The snag is that the whole account must be closed and you're only allowed one fixed account per person. Plus a joint one. 

But as Saga, which is just a re-branded Marcus, offers exactly the same terms  we realised we can spread the balance we want over 6 accounts.   1 each in Marcus, plus a joint in Marcus and and 1 each in Saga plus a joint in Saga.   

So we get a fixed 1.45% over the whole 6 balances and if we need to cash in early, which means closing the account, we can chose which to close and probably keep some open, still on 1.45%.  

Plus we also now have multiple easy access accounts with Marcus and Saga on 1.2% (variable, obvs). Which may be useful too.

Now wondering whether to add more to our new 1.45% fixed rates - we have 14 days to top 'em up....

Eco_Miser

pearl123 said:

I do wish Marcus would have another layer of security when it comes to passwords. A passcode or texts.

When I set up my Marcus account, (middle of last year), you could choose to get a OTP by email or text.  I got a few emails in the early months, but not recently, as they recognise your device, by cookie, and probably by other means as well.

ischris85

I've had a Marcus account for over 6 month. I would say a word of warning, if you make a withdrawal Sunday evening/Saturday morning, these typically arrive in my account Sunday morning/afternoon.

Zanderman

ischris85 said:

I've had a Marcus account for over 6 month. I would say a word of warning, if you make a withdrawal Sunday evening/Saturday morning, these typically arrive in my account Sunday morning/afternoon.

?                       

wiseonesomeofthetime

ischris85 said:

I've had a Marcus account for over 6 month. I would say a word of warning, if you make a withdrawal Sunday evening/Saturday morning, these typically arrive in my account Sunday morning/afternoon.

I have made withdrawals at those times, and they definitely arrived in my account!  🤣

Frogletina

ischris85 said:

I've had a Marcus account for over 6 month. I would say a word of warning, if you make a withdrawal Sunday evening/Saturday morning, these typically arrive in my account Sunday morning/afternoon.

Time travel?

lippy1923

Sorry if this has been asked before, whats the name of the Marucs app? I can't find it in the apple store.