Marcus Interest Date

20SmthngSver

I opened a Marcus Online Savings Account on 10th July and I know interest is paid monthly. Given that 10th August was Saturday, and no interest was paid on 31st July so it can't be paid end of month, I assumed that interest would be added today instead, as the next working day 1 month on from account opening.

I haven't received any interest though today though? Anyone know when they actually do pay it?

fiestaman87

My experience of Marcus is that you won't see the interest until the day after you expect it although it's usually dated the previous day.

HTH.

eskbanker

Not sure exactly when it'll show on your online banking (maybe tomorrow, i.e. after/at the end of the first working day) but when it does it'll be backdated to the 10th - looking at my statement, every interest payment is dated for the same day of the month (corresponding to date of first opening/funding), even though some of these will have been weekends where the payment may not have been visible until later.

20SmthngSver

Thanks.

Have you ever renewed your bonus? Does it change the date of interest each month if so, depending on which date you renewed? Or is it always the anniversary date of the month you opened the account?

sully1311

I wondered this too when i renewed my rate by the date stays the same.

20SmthngSver

Interest was added today.

badger09

20SmthngSver wrote: »

Thanks.

Have you ever renewed your bonus? Does it change the date of interest each month if so, depending on which date you renewed? Or is it always the anniversary date of the month you opened the account?

sully1311 wrote: »

I wondered this too when i renewed my rate by the date stays the same.

No, it stays the same

Discussed on the 'main' Marcus interest thread - eg post 34

https://forums.moneysavingexpert.com/discussion/60298222