Marcus taking on new customers again

Alexland

epm-84 said:

Anyone with a workplace pension just needs to look at the value of their pension over the past 24 months with the impact of COVID causing a big drop to many in Spring 2020.  

I worry that the very fast recovery from last year's crash and subsequent gains might give people an unrealistic sense of security about the risk of future crashes which might take many years to recover. Not saying that people shouldn't invest in equities but worth keeping a realistic view on how cash might help ride our rough periods.

nottsphil

2010 said:

Older folk haven`t got time on their side waiting for the market to bounce back after a big drop.
1000 points off the FTSE 100 since covid.
.05% may be lousy but it`s better than a 10% drop overnight in their capital.

It's .5%. 

2010

nottsphil said:

2010 said:

Older folk haven`t got time on their side waiting for the market to bounce back after a big drop.
1000 points off the FTSE 100 since covid.
.05% may be lousy but it`s better than a 10% drop overnight in their capital.

It's .5%. 

Put the dot in the wrong place but thanks
0.5%

RG2015

2010 said:

nottsphil said:

2010 said:

Older folk haven`t got time on their side waiting for the market to bounce back after a big drop.
1000 points off the FTSE 100 since covid.
.05% may be lousy but it`s better than a 10% drop overnight in their capital.

It's .5%. 

Put the dot in the wrong place but thanks
0.5%

The banks have also been doing this quite a lot recently 

Ballard

epm-84 said:

Ballard said:

[Deleted User] said:

Top easy rate, 0.5%? Per year? So if I put there £10k, I will earn £50 after 12 months? Is that what people chase nowadays?

Sounds like a waste of time. Just use whatever account is more convenient for you, has best customer support, and stick with it. Choosing poor bank just because they offered 0.1% more than our usual choice is unnecessary risk of annoyance and stress. What is new bank (speaking in general) has poor customer service, always busy telephone lines, no nearby branches when we need one? Is it worth £20 extra saving on £10k example? No. Just stay with whoever you are comfortable with, instead of transferring (or opening) your account once again because they are offering 0.1% or 0.2% more than competitor.

Completely agree. I think that sometimes people focus too much on the rate without thinking how much actual cash difference between two accounts. Even moving the maximum protected £85k between accounts with a 0.15% difference will make about the cost of a half decent meal for two after a year. I can obviously see why people would want to do it and fair play to them but in the big scheme of things I can no longer be bothered.

0.15% interest on £85,000 is £127.50.  I don't think many people on a money saving forum would spend that much on a meal for two, even if you might consider it a small amount in relation to the investment amount.

Just because people like getting good deals doesn’t necessarily make that amount a big outlay for a decent meal with good wine. 

nottsphil

Ballard said:

epm-84 said:

Ballard said:

[Deleted User] said:

Top easy rate, 0.5%? Per year? So if I put there £10k, I will earn £50 after 12 months? Is that what people chase nowadays?

Sounds like a waste of time. Just use whatever account is more convenient for you, has best customer support, and stick with it. Choosing poor bank just because they offered 0.1% more than our usual choice is unnecessary risk of annoyance and stress. What is new bank (speaking in general) has poor customer service, always busy telephone lines, no nearby branches when we need one? Is it worth £20 extra saving on £10k example? No. Just stay with whoever you are comfortable with, instead of transferring (or opening) your account once again because they are offering 0.1% or 0.2% more than competitor.

Completely agree. I think that sometimes people focus too much on the rate without thinking how much actual cash difference between two accounts. Even moving the maximum protected £85k between accounts with a 0.15% difference will make about the cost of a half decent meal for two after a year. I can obviously see why people would want to do it and fair play to them but in the big scheme of things I can no longer be bothered.

0.15% interest on £85,000 is £127.50.  I don't think many people on a money saving forum would spend that much on a meal for two, even if you might consider it a small amount in relation to the investment amount.

Just because people like getting good deals doesn’t necessarily make that amount a big outlay for a decent meal with good wine. 

  I note that the half decent meal  is now a decent meal with good wine added to it. Why don't you just admit that you got the arithmetic wrong?