NEW! Marcus Bonus Rate 0.1% giving 0.5% for 12m

jbrassy

Massive thanks to the OP for flagging this. Rather sneaky of Marcus not to let anyone know.

Billycock

Thread header isn't quite correct. 
Actually giving a guaranteed 0.1% for 12 months, the current 0.4% is variable. I do get your point though.

RG2015

where_are_we said:

Rather disingenuous of Marcus. Why do you have to be proactive to get this bonus? There will be many who don`t realise that you can apply this increase to an existing account. I realise that the underlying rate (.4%) would have to change for everyone to benefit automatically.

It is less than 24 hours since the bonus was re-introduced and it is clearly noted on their website. They may still send a personal notification.

However, when it was previously available, there was no personal notification to existing account holders.

Don't lose sight of the fact that Marcus are a bank offering a very decent rate for a good savings account.

callum9999

where_are_we said:

Rather disingenuous of Marcus. Why do you have to be proactive to get this bonus? There will be many who don`t realise that you can apply this increase to an existing account. I realise that the underlying rate (.4%) would have to change for everyone to benefit automatically.

Isn't it obvious why they may want to give the bonus to people proactive about their savings but not to people who don't care? 

Seems like a waste of money to pay out the extra interest to a bunch of people who wouldn't notice whether it's there or not!

RG2015

sausage_time said:

Thanks!   New bonus will expire on 29/06/2022.
Sad times when we all get so excited about 0.1%, but happy to take it.

Me too, but just calculated that you would need to hold £1,000 there for a year to get an extra £1 which is about 8p per month.

PRAISETHESUN

Bonus rate unlocked! Thanks to OP for pointing this out

born_again

123vindaloo321 said:

Have just managed to add the 0.1% bonus onto my existing account :-)

Thanks...

Just shows that checking your accounts does pay off....

MrsWenger

I’d like to add my thanks to the OP too.

Thank you!

GalacticaActual

Just applied the bonus rate, thank you to the OP. 👍🏻

No mention of it in the Marcus ‘App’ but it is now shown on the front page of the Marcus website. The bonus rate is also available to new customers:

george4064

RG2015 said:

george4064 said:

I wonder what would happen if Marcus decide to offer 0.55% on their easy access account? Would us people locked into our 0.1% bonus be stuck until June next year or would we be able to move onto the new higher bonus rate?

I imagine (and hope!) it would be the latter, let’s hope we find out!

I think the account only has one underlying rate, currently 0.40% pa. Based on past performance, they would not separately offer an account with 0.55% pa.

Any new rate would be applied to all existing accounts and the bonus would continue to be managed online separately.

Apologies, I didn’t word my post very well.

I meant to say, what if Marcus were to offer a 0.15% bonus next week rather than a new base rate of 0.55%.