Marcus closes easy-access savings account to new customers - MSE News 10 June 2020 at 9:44AM in Savings & Investments 6 replies 1.3K views

Former_MSE_Naomi

Savers in the UK can longer open new Marcus easy-access accounts, in a fresh blow after months of cuts...

Read the full story:

'Marcus closes easy-access savings account to new customers'

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Freecall

I think you mean 'no longer'.

burner03

Just how long were these accounts before the change?

2010

Goldman Sachs closed the account today, citing British banking rules. 

It has seen an influx of around £4billion from savers looking for a decent home for their money since March and April as stock markets crashed and the Bank of England twice cut its base rate to a record low of 0.1 per cent.

Retail deposits totalling more than £25billion must be ring-fenced, so Marcus would have to be a separate legal entity in the UK.

wiseonesomeofthetime

It's not really headline news as it's only a temporary measure.

From their website:

We’ll accept new Online Savings Account customers in the future

This is just a temporary change and we hope to make our Online Savings Account available again soon. While we can’t say exactly when, we hope the account will be available in the coming months. Keep an eye on our website and social media channels for updates.

 

 

New accounts and services

We’re turning our attention to launching an app, to give our customers more ways to manage their money. At the same time, we’re looking to the future and working on exciting plans for the UK in the long term.

Looking forward to an app version 

veryintrigued

wiseonesomeofthetime said:

New accounts and services

We’re turning our attention to launching an app, to give our customers more ways to manage their money. At the same time, we’re looking to the future and working on exciting plans for the UK in the long term.

Looking forward to an app version 

Web version works superbly for me.
Easy and simple to log in and clear display.

Also means I don't have to add yet another app to my phone slowing it down further.

george4064

There’s already a thread on this: https://forums.moneysavingexpert.com/discussion/6154724/marcus-easy-access-no-longer-accepting-applications#latest