The Top Fixed Interest Savings Discussion Area

DRS1

Rollinghome said:

DRS1 said:

katejo said:

mebu60 said:

refluxer said:

I'd recommend anyone interested in that Marcus fixed rate saver to open one sooner rather than later because, just like their last one, it may not hang around for long due to it being a decent amount higher than anything else available.

As long as you haven't got a Marcus Fixed Rate Saver already. This matches the 4.55% I got with them back in October. Would've definitely added another if I had been able to. 

I haven't used Marcus before. Can I make a further addition to the account once started or is it just the initial lump sum?

You have a 14 day funding window so you can add in that window but not afterwards.  I just opened one and got a message saying I can pay in until 27 January .

I notice that "14 days" can be slightly less in practice.

I opened an account at noon today and they say I've got until the 30th to fund.  That looks like 13.5 days to me.  At times, I've waited right to the wire to see what the MPC announce and most institutions give the full number of days starting from midnight.  Will remember not to count on that any more.  I note that the next day is a Saturday. At least Marcus is clear.

I haven't tried to transfer anything in this weekend but maybe they are like some other institutions and don't do transfers over the weekend so put the cut off date to the Friday?

soulsaver

I've transferred (a small amount) in today. There was warnings that FP was down for planned maintenance so I'm leaving the big transfers until Monday.

Rollinghome

All things being equal, I prefer to make big transfers in the morning, on a weekday, early in the week. Then if something goes wrong, my loot isn't hanging around somewhere for days losing interest, and there should be someone around to contact.

Now that some offer 24/7 FP and others use carrier pigeons, there are so many variables.

bucksman

Has anyone been able to open the Marcu FTB in the recent hours/days, looks like an issue or it's been withdrawn?

ccluedo

bucksman said:

Has anyone been able to open the Marcu FTB in the recent hours/days, looks like an issue or it's been withdrawn?

1 Year Fixed Rate Saver

We're sorry, but the 1 Year Fixed Rate Saver is currently unavailable.

I managed to open late Tues night. 

nomorekids

Marcus Fixed Rate 4.55% one year

I've managed to open one, from carrying on with a previous saved application 

now wish to fund but now lost track of the T&C's for this one, anyone got the key facts copy? remind me of the min? (for now whilst I think about more) and max? (actually forget that, wishful thinking), end of the term roll over to instant access? (I hope and not another fix). I should have downloaded keyfacts I know, can't believe I didn't as usually diligent about keyfacts copies.

mills112

https://forums.moneysavingexpert.com/discussion/comment/81855876#Comment_81855876

i don't tend to read the t&c, lol. generally they will contact you a month or two weeks before maturity and you can give them your maturity instructions. no one can force you to open another fixed rate account when the existing one ends. Natwest will automatically transfer to another bond as default but you have plenty of time to tell them you don't want to do that.

i looked at their welcome email and it says minimum is "£1", which is quite low as most bonds need minimum of "£1,000"

Here is a clip from my email:-

Start growing your savings
You must add money to your 1 Year Fixed Rate Saver during its 14-day funding window, which ends 29 January 2026. You can make multiple payments up to your £250,000 account limit during this time and you'll start earning interest from the moment we receive your first payment. Please note that any funds received after the window closes will be returned. To add money to your account, simply make a bank transfer of £1 or more to your Marcus account using the account number and sort code - you can find these by logging into your Marcus account online or in the app. Deposits need to be made from your linked account, which is the account you gave us when you joined, or from another Marcus account in your name. If you try to add money from a different account, we'll have to send the payment back.

DRS1

https://forums.moneysavingexpert.com/discussion/comment/81855876#Comment_81855876

As @mills112 suggests you should have had a welcome email which will give you the min and max figures. It will also tell you when your funding windows ends which should be 14 days from when you opened the account but do check because they will give you a specific date.

refluxer

https://forums.moneysavingexpert.com/discussion/comment/81855876#Comment_81855876

This is what happens as you approach the maturity of a Marcus Fixed Rate Saver…

"We’ll contact you before your term ends to explain your options for what to do with your savings. We’ll ask you to tell us what you want to do. If you don’t tell us, we’ll transfer your money and any interest into a Maturity Saver.
You’ll earn interest at the then current rate for that product, which may be lower, but you’ll be able to access your
money at any time."

ccluedo

I managed to open Marcus b4 it was pulled and my funding window closes on 2nd Feb. I opened it in preparation of a one year fix account maturing today, payable tomorrow. However I forgot that my Bank of Scotland daily withdrawal limit is 25k, meaning I won't be able to move all the funds to Marcus b4 window closes.

Been looking for next best alternative on MSE site and see Al Rayan via Prosper offering a ONE YEAR FIXED @4.5% which is slightly better than Marcus.

However I'm a bit confused that it's a one year FIX "made up of a 4.22% VARIABLE underlying rate, plus a 0.28% fixed boost".

I'll call them tomorrow but in the meantime wondered if anyone here had any insight?