Marcus Bank new higher bonus rate

mr_accountant

Received an email today from Marcus of a new bonus rate which has increased by 0.15% to 0.49% and the new AER is 4.75%, to receive the new bonus rate log into your account and add it to your account to overwrite the old rate. Not the highest but marcus is fast and reliable

Malchester

mr_accountant said:

Received an email today from Marcus of a new bonus rate which has increased by 0.15% to 0.49% and the new AER is 4.75%, to receive the new bonus rate log into your account and add it to your account to overwrite the old rate. Not the highest but marcus is fast and reliable

Yes not the best rate but agree they are fast and reliable. I like them (similar to Investec)

Reed_Richards

When Marcus launched, their interest rate was amongst the best you could get for an instant access account.  Now they seem to be resting on their laurels. 

Richard1212

I liked Marcus ever since they started, not just because they were so competitive for so long but because they were quietly efficient and helpful and without absurdly complex security obstacles. I kept a full £85k with them for quite a while.

BUT, I withdrew all savings some time ago, for the reasons mentioned by other posts, and recently I actually cancelled my account entirely-------I don't believe in shifting savings around every time a new saver goes to the top of the interest rate : instead I keep full accounts with what I regard as the consistently top 6 saving banks over a year/18 months. So it was not a normal step for me to cancel all contact with Marcus.

Marcus are owned by Goldman Sachs who have given up on their subsidiary and plan to dismantle it. We will never see Marcus as it was ever again IMO. They are no longer a haunt of savers who want the best % rates. 
  

subjecttocontract

I'm not impressed. I have a Marcus account with £1 in it.......that's about where it's going to stay.

penners324

Richard1212 said:

I liked Marcus ever since they started, not just because they were so competitive for so long but because they were quietly efficient and helpful and without absurdly complex security obstacles. I kept a full £85k with them for quite a while.

BUT, I withdrew all savings some time ago, for the reasons mentioned by other posts, and recently I actually cancelled my account entirely-------I don't believe in shifting savings around every time a new saver goes to the top of the interest rate : instead I keep full accounts with what I regard as the consistently top 6 saving banks over a year/18 months. So it was not a normal step for me to cancel all contact with Marcus.

Marcus are owned by Goldman Sachs who have given up on their subsidiary and plan to dismantle it. We will never see Marcus as it was ever again IMO. They are no longer a haunt of savers who want the best % rates. 
  

That is Richard's opinion and not actual fact

george4064

Too little, too late for me.

However, when I did have savings with them I found them to be efficient and provide a good service.

Johnjdc

penners324 said:

Richard1212 said:

I liked Marcus ever since they started, not just because they were so competitive for so long but because they were quietly efficient and helpful and without absurdly complex security obstacles. I kept a full £85k with them for quite a while.

BUT, I withdrew all savings some time ago, for the reasons mentioned by other posts, and recently I actually cancelled my account entirely-------I don't believe in shifting savings around every time a new saver goes to the top of the interest rate : instead I keep full accounts with what I regard as the consistently top 6 saving banks over a year/18 months. So it was not a normal step for me to cancel all contact with Marcus.

Marcus are owned by Goldman Sachs who have given up on their subsidiary and plan to dismantle it. We will never see Marcus as it was ever again IMO. They are no longer a haunt of savers who want the best % rates. 
  

That is Richard's opinion and not actual fact

Which bit? I think that GS see their move into retail banking as basically a mistake is quite a widespread understanding of the position.

https://www.ft.com/content/b69bb541-927b-494a-a038-98a44f46797c

Cashmygiro

I still have cash in Marcus, I also use Tandem, CovBS, RCI and Ford. All rates at the top end of the scale but one can't continually open accounts which happen to be at the very top of the list every week. Especially the smaller BS's who require you to send forms and ID in the post. 

Middle_of_the_Road

Cashmygiro said:

I still have cash in Marcus, I also use Tandem, CovBS, RCI and Ford. All rates at the top end of the scale but one can't continually open accounts which happen to be at the very top of the list every week. Especially the smaller BS's who require you to send forms and ID in the post. 

This is exactly what many on here do. 

How many accounts do you have? - Page 4 — MoneySavingExpert Forum

Of all the accounts I've opened, none have required posting documents.

MSE_Molly_G

Hi everyone! We've just published a story on this: Marcus Saver? You can now boost your rate to 4.75% in seconds – here's how. Thanks!