Marcus monthly interest

vernon

Dear Forum. I rely on monthly interest on easy access savings. My Marcus interest is usually credited on the 27th of each month, which this August was a Saturday. No interest paid, neither Sunday or so far today Bank Holiday Monday. Is it because of the Bank Holiday long weekend and can I expect it on Tuesday August 30th? A slight worry for me. Yes, I could phone Marcus but I am not very good at speaking on the phone. Thank you for any replies.

[Deleted User]

Hi,

from Marcus T&Cs,

We'll add the interest to your account at the end of the day, not at the beginning. When your interest payment date falls on a weekend or bank holiday, the interest will usually be paid in by the very end of the next business day instead.

Daliah

If you are relying on monthly interest, you could do better than having your money with Marcus.

Although all of them will have the same payment rules as Marcus does.

ZeroSum

Just in response to above ^

Atom bank's easy access pays the same as Marcus. I know that their fixed rate accounts, you can actually choose what day you get paid interest & also pays on weekends. No idea if easy access is the same, but would be surprised if it wasn't. So might be worth looking into. 

Although, you can get better rates elsewhere. Most like Marcus are set days (and working days at that)