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Marcus coming to the end of my bonus

Marcus are offering to renew my savings bonus with a reduction of 0.05% making the total 1.45% AER

I didn’t think that was bad ?

Anybody got options?

Thanks
After reading PtL Vaubans Guide , please don't desert us, hang around and help others!

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Comments

  • TBC15
    TBC15 Posts: 1,503 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
  • roddydogs
    roddydogs Posts: 7,479 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    You can't do that anymore unless you accept the lower 1.45% rate.
  • TBC15
    TBC15 Posts: 1,503 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    Your right, they seem to have changed things quite recently.
  • Thanks all, Mines not due to finish until late November and I know they’ll only let you have a single account, I might stay at 1.5%AER with Marcus - thinking the 1.45% might disappear before Nov.

    Thinking of opening a Cynergy and banking the 1.45% then if rates drop further then at least I’ve got one on standby! Doesn’t stop them altering the underlying rate though - they always win :T
    After reading PtL Vaubans Guide , please don't desert us, hang around and help others!

    Hi, we’ve had to remove part of your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE ForumTeam
  • soulsaver
    soulsaver Posts: 6,736 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    edited 12 September 2019 at 10:45AM
    Thanks all, Mines not due to finish until late November and I know they’ll only let you have a single account, I might stay at 1.5%AER with Marcus - thinking the 1.45% might disappear before Nov.

    Thinking of opening a Cynergy and banking the 1.45% then if rates drop further then at least I’ve got one on standby! Doesn’t stop them altering the underlying rate though - they always win :T
    You could grab the Cynergy and put the £min in hopefully hold the rate; they are still honouring the 1.5%for takers they had available a few weeks ago .

    Assuming you've got TSB 3% & had Nationwides 5%, to do better than that in banks atm you'd need to go for reg savers or notice/fixed accounts - the rate trend is deffo DOWN atm.
  • NoviceAngel
    NoviceAngel Posts: 2,274 Forumite
    Part of the Furniture
    edited 12 September 2019 at 11:55AM
    Not a good start Cynergy website down for “maintenance’ last hour lol

    EDIT - ohh we’re back on line Cynergy- not for me I’m afraid!

    I decided to renew Marcus at the very slightly lower rate.
    After reading PtL Vaubans Guide , please don't desert us, hang around and help others!

    Hi, we’ve had to remove part of your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE ForumTeam
  • TBC15 wrote: »
    Your right, they seem to have changed things quite recently.


    Very recently. I remember reading on the forums about this about a month ago and going into my account and clicking to extend the 1.5% for another year. Glad I did. The news this week has not been great for Marcus savers.
  • EdSwippet
    EdSwippet Posts: 1,671 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    falcieri wrote: »
    The news this week has not been great for Marcus savers.
    The news this past decade has not been great for any savers. :-(
  • eskbanker
    eskbanker Posts: 38,022 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    falcieri wrote: »
    Very recently. I remember reading on the forums about this about a month ago and going into my account and clicking to extend the 1.5% for another year. Glad I did. The news this week has not been great for Marcus savers.
    Just in case anyone is misunderstanding this, there has never been an option to guarantee 1.5% for a year with Marcus!

    The 0.15% bonus component (now 0.1%) is fixed for 12 months but the vast majority of the Marcus rate is variable and can be changed at any time....
  • Terry98
    Terry98 Posts: 1,155 Forumite
    Seventh Anniversary 1,000 Posts Combo Breaker
    EdSwippet wrote: »
    The news this past decade has not been great for any savers. :-(

    From this weeks newsletter 'And in the last week, first easy-access best-buy Marcus, which held firm at 1.5% for 11mths, shaved down its rate, then its fellow top payer Cynergy followed suit.

    The worry (though no one knows) is this signals the start of a race to the bottom. Similar happened in 2016. Seemingly no bank wanted to top the best buys, scared of the huge wads desperate savers pumped in when they did. Rate cut followed rate cut'.
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