Marcus saver? You can boost your rate to 3.3% with a few clicks – here's how

etienneg

Nobody has commented, though, that it would be a lot easier if Marcus just put the interest rate up for all savers, rather than requiring you to log in and renew the bonus. OK, so it isn't a terrible inconvenience to have to do this, but it could be no inconvenience at all.

Sometimes I log into a building society web site where I have savings and am pleasantly surprised to find the interest rate is more than I thought, and I hear about the increase a few days later somewhere. That's my preference, anyway.

dealyboy

@etienneg ... it is curious isn't it , especially the fact that you can keep renewing it.

subjecttocontract

Well the reason is obvious to me. Marcus don't want to increase the rate automatically, they just want to have a competitive rate with limited account holders. The more people who dont , wont, can't be bothered to upgrade their account is more profit for them.

adindas

Time is money. I will not be chasing a small interest increase for instant access saving account any more.

Just be patient Al Rayan Bank will match them, in less than a month no need to apply a new account.

gesdt50

adindas said:

Time is money. I will not be chasing a small interest increase for instant access saving account any more.

Just be patient Al Rayan Bank will match them, in less than a month no need to apply a new account.

Al Rayan has a terrible rated app access that wants you to give, allow the app to make phone calls, which I said to the representive for Al rayan that I am making and now talking on the phone so why would the app need to make phone calls; can't see why the app would need to make phone calls except for nefarious purposes. Over the last few years I have had to uninstall the app and reregister 30-40 times and sometimes just give up for a few days as it still wouldn't work.

refluxer

gesdt50 said:

adindas said:

Time is money. I will not be chasing a small interest increase for instant access saving account any more.

Just be patient Al Rayan Bank will match them, in less than a month no need to apply a new account.

Al Rayan has a terrible rated app access that wants you to give, allow the app to make phone calls, which I said to the representive for Al rayan that I am making and now talking on the phone so why would the app need to make phone calls; can't see why the app would need to make phone calls except for nefarious purposes. Over the last few years I have had to uninstall the app and reregister 30-40 times and sometimes just give up for a few days as it still wouldn't work.

I don't have the app myself but is there some kind of link or facility to contact Al Rayan's customer services from within the app, hence the permission needed ? Either way, the majority of the apps on your phone will have access to one (or other) of your camera, contacts, dialler (etc) and of those, an FSCS-protected bank should be among the safest and most secure apps you've installed.

poppystar

poppystar said:

techno12 said:

Didn't get the email either, so good job I read this today.

A little odd as I've always received emails about bonus rates or underlying interest rate changes. Maybe they'd have told me when my bonus was due to expire in June.

I didn’t get an email either for my Saga but suspect that might be because as soon as I saw the post on here I logged on and updated the bonus and may have beaten them to it! I then got a confirmation email so that might have overridden a notification of bonus available email. 

And I was wrong! The email telling me of the new bonus rate appeared in my inbox this morning 😐