Marcus - increase to the underlying interest rate

Biggus_Dickus

Billycock said:

Thanks, just looked at my account and it's now 0.60%. Not sure why though, possibly because I've had my account over a longer period.

If you have an existing account your interest rate will already show the new enhanced rate of 0.6%,...but it's adviseable to apply for the new fixed 12-months 0.1% bonus .

The  ‘new’  bonus rate of 0.1% (which is fixed for a year ) needs to be applied to the  existing account by entering “Review Your Savings” etc etc. Selecting/applying  the new 0.1% bonus rate extends it for a further 12 months. Otherwise your old 0.1% 12-months bonus rate will still apply.

I think??  the date the old 0.1% bonus rate expires is dependent on when the account was opened;

...something like that anyway. It’s a bit confusing.

My wife’s old 0.1% bonus would have expired in May 2022 if she hadn’t renewed it;...however, her  new bonus rate (which is exactly the same as the old bonus rate @  0.1%) now runs till 29 Sept 2022.

wiseonesomeofthetime

I have done the same.

Extended from 29/06/2022 to 29/09/2022

refluxer

I applied for the Marcus account this morning and have been getting the following message ever since, when I log in...

"Your application is being processed, please check back later

We're just reviewing your information and will get back to you soon."

Never had issues opening accounts before and my finances are sound, so that won't be the issue - are they extra-cautious or perhaps they had an influx of new customers which has caused a backlog ? Either way, it seems there is some human involvement in the account-opening process. 

[Deleted User]

I've decided not to open any more fixed rate Regular Savers (unless rate is exceptional) as I think interest rates will rise soon and there will be better ones coming along. Many of the fixed rate RS's don't let you close  and then re-open at a higher fixed rate immediately, or they penalise you for closing early.

schiff

Can't log on this morning - anyone else?

ColdIron

Fine here 

Hal17

Thanks Biggus_Dickus, I was not aware of the bonus. Just updated our 2 accounts only took a minute.

Malchester

I have a Marcus account (little in it) but also have Investec Easy Access paying 0.58%. They are superb with instant movement of money for withdrawals and deposits and no bonus rate. Worth a try, would recommend

NameWithheld

Hal17 said:

Thanks Biggus_Dickus, I was not aware of the bonus. Just updated our 2 accounts only took a minute.

Don't forget you can extend the bonus at any time. So every so often, log on and renew the bonus, which will extend its expiry date to 12 months from when you renew. 

soulsaver

Malchester said:

I have a Marcus account (little in it) but also have Investec Easy Access paying 0.58%. They are superb with instant movement of money for withdrawals and deposits and no bonus rate. Worth a try, would recommend

Got a link?