Marcus cutting rates

jamei305

To put this in perspective if you have £85,000 in your account this announcement will see you worse off by £3.54 a month.

1882

Myself and a relative both have Marcus accounts, they've received the email and I haven;t. We have the same surname!

shamin

I have had a personal account for over a year and have 1.45% with 0.10% bonus rate

Received the interest rate cut email on this account

Recently opened up a joint account with my partner at a rate of 1.35%

Did not receive the interest rate cut for this

Presume they just want to bring all the original investors down to keep in line whilst new accounts may be left untouched at the lower rate anyway?

ColdIron

It's a reduction in the variable rate and will affect all account holders on 10th March. It's probable that you just haven't received the email for the other account yet

chelseablue

I got the email today too. 
Might as well keep it under the mattress these days 

ianthy

They are all at it this week. In the last few days I got emails from Marcus and Ford Money about rate cut in savings rates.

Vet

Looks like lots of banks are doing the same anyway! A minor change of only 0.05%

tempus_fugit

Whilst this is not good news (I only opened an account last month), it’s not nearly as bad as it could have been. It’s still one of the best easy access options available at the moment.

Incidentally, neither I nor OH have received any emails notifying this to us yet and our surname is in the middle of the alphabet. So I think the timing of the email batches must be random, or related to account number or something.

andreww111

tempus_fugit said:

Whilst this is not good news (I only opened an account last month), it’s not nearly as bad as it could have been. It’s still one of the best easy access options available at the moment.

Incidentally, neither I nor OH have received any emails notifying this to us yet and our surname is in the middle of the alphabet. So I think the timing of the email batches must be random, or related to account number or something.

Me neither. I also opened account January

fred246

chelseablue said:

I got the email today too. 
Might as well keep it under the mattress these days 

When I was younger we had children and I was the only one working. I had a good job and plenty of savings. But what if I lost my job? I would be excluded from all the means tested benefits. I seriously considered 'hidden savings'. I definitely would on current interest rates. I wonder how many do?