Getting two interest pay-ins in my Barclays Everyday Saver account?

xylophone

Try

https://www.marcus.co.uk/uk/en

taihai

Thanks @ColdIron

I can see that the email addresses related to the two unauthorised firms on the FCA webpages are messed up, which is useful as then you will be wary if you ever come across these URLs again. 

Just in case it's not clear, the reference numbers I put into the FCA websites for these two firms are actually copied and pasted from the bottom of these two web pages. These websites feel genuine, and in fact they both pay for Google Ad. But the FCA findings make me unsure.

https://www.marcus.co.uk/uk/en
https://www.chase.co.uk/gb/en/

The ones in your links above are genuine. If you use the Financial Services Register number from them they will find the authorised site (but recall my warning above). You can trust the web address reported by the FCA

Goldman Sachs and JP Morgan are very large and reputable US companies and fully authorised. I've used both for quite some time

Actually, how do you know they are genuine? Can you point me out where the web address reported by the FCA is on the website? I don't seem to find it? I can see the JP Morgan web address in here and can also see Chase is under Trading Names, but can't see www.chase.co.uk/ anywhere?

taihai

AmityNeon said:

I cannot replicate your findings. The reference numbers from the bottom of those two web pages are 124659 (Marcus) and 124579 (Chase). When those two reference numbers are searched in the FCA register (https://register.fca.org.uk), the following results appear (only one result per reference):

• Marcus: https://register.fca.org.uk/s/firm?id=001b000000MfF0NAAV
• Chase: https://register.fca.org.uk/s/firm?id=001b000000MfFBzAAN

What did you do that caused only clones to be found or appear so prominently as to obfuscate the genuine firms?

If you open the link you shared for Marcus, Marcus by Goldman Sachs appears within the Notices area if you just scrolled down a little from the top of the page. When you click on that link, you will see what my link is. Same applies to Chase.

eskbanker

taihai said:

AmityNeon said:

I cannot replicate your findings. The reference numbers from the bottom of those two web pages are 124659 (Marcus) and 124579 (Chase). When those two reference numbers are searched in the FCA register (https://register.fca.org.uk), the following results appear (only one result per reference):

• Marcus: https://register.fca.org.uk/s/firm?id=001b000000MfF0NAAV
• Chase: https://register.fca.org.uk/s/firm?id=001b000000MfFBzAAN

What did you do that caused only clones to be found or appear so prominently as to obfuscate the genuine firms?

If you open the link you shared for Marcus, Marcus by Goldman Sachs appears within the Notices area if you just scrolled down a little from the top of the page. When you click on that link, you will see what my link is. Same applies to Chase.

So your original question about whether the firm was genuine was asked when you were looking at this wording?

Clones of this firm

Individuals are using the details of this firm to suggest they work for the genuine firm. We call this a cloned firm and it is typically part of a scam.

To contact the genuine firm you should call the switchboard number listed on the Register - and contact us if it is not provided. Find out more about the clone firm(s):

• Goldman Sachs (clone of FCA authorised firms)
  Added to the FS Register on 14 Jun 2019.
  
• Marcus by Goldman Sachs (clone of FCA authorised firm)
  Added to the FS Register on 28 May 2021.

ColdIron

taihai said:

Actually, how do you know they are genuine?

That's a perennial problem with the internet and nothing new. The usual methods apply. Padlock in your browser, verified SSL certificate, https connection, authoritative source, expected address construction, no dodgy top level domains like .ru, spelling mistakes, dead links etc etc. You can take this as far as you like and obvious scam sites don't put in a lot of effort to trap the unwary

Can you point me out where the web address reported by the FCA is on the website? I don't seem to find it? I can see the JP Morgan web address in here and can also see Chase is under Trading Names, but can't see www.chase.co.uk/ anywhere?

I said that the web sites were trustworthy but not necessarily useful (or present)

Chase is an app only bank so the site is for information and just instructs you to get the app. The website for Goldman Sachs (Marcus) is their global one as that's what they chose to register. You wouldn't use it to use the UK Marcus product

The point I was making was that the FCA won't give you the address of a clone firm. You could use the trustworthy phone number on the FCA

AmityNeon

taihai said:

AmityNeon said:

I cannot replicate your findings. The reference numbers from the bottom of those two web pages are 124659 (Marcus) and 124579 (Chase). When those two reference numbers are searched in the FCA register (https://register.fca.org.uk), the following results appear (only one result per reference):

• Marcus: https://register.fca.org.uk/s/firm?id=001b000000MfF0NAAV
• Chase: https://register.fca.org.uk/s/firm?id=001b000000MfFBzAAN

What did you do that caused only clones to be found or appear so prominently as to obfuscate the genuine firms?

If you open the link you shared for Marcus, Marcus by Goldman Sachs appears within the Notices area if you just scrolled down a little from the top of the page. When you click on that link, you will see what my link is. Same applies to Chase.

Of course, when I was on the page of the genuine and authorised firms, I read the notice warning of cloned/unauthorised firms. What’s confusing is why you focused and linked only to the unauthorised clones, and then asked whether they were genuine?

Using the details published in the register (for authorised firms), you can ascertain whether a website is genuine. It may involve a phone call or an email, or additional clicks, e.g. starting from both jpmorgan.com and jpmchase.com (email domains), it’s possible to eventually navigate to chase.co.uk.

taihai

So your original question about whether the firm was genuine was asked when you were looking at this wording?

Clones of this firm

Individuals are using the details of this firm to suggest they work for the genuine firm. We call this a cloned firm and it is typically part of a scam.

To contact the genuine firm you should call the switchboard number listed on the Register - and contact us if it is not provided. Find out more about the clone firm(s):

• Goldman Sachs (clone of FCA authorised firms)
  Added to the FS Register on 14 Jun 2019.
  
• Marcus by Goldman Sachs (clone of FCA authorised firm)
  Added to the FS Register on 28 May 2021.

That's correct.

taihai

If you open the link you shared for Marcus, Marcus by Goldman Sachs appears within the Notices area if you just scrolled down a little from the top of the page. When you click on that link, you will see what my link is. Same applies to Chase.

Of course, when I was on the page of the genuine and authorised firms, I read the notice warning of cloned/unauthorised firms. What’s confusing is why you focused and linked only to the unauthorised clones, and then asked whether they were genuine?

Using the details published in the register (for authorised firms), you can ascertain whether a website is genuine. It may involve a phone call or an email, or additional clicks, e.g. starting from both jpmorgan.com and jpmchase.com (email domains), it’s possible to eventually navigate to chase.co.uk.

To your first comment - Intuitively that's what makes you wary the most right? I get that FCA tells you a domain name of the genuine and authorised firm, and also the domain names of the unauthorised clones. However, it doesn't tell you all the other genuine domain names of the genuine and authorised firm. In the case of JP Morgan, you can only tell jpmorgan.com is the genuine domain name, without telling you chase.co.uk is also a genuine domain name of JP Morgan. What's even more confusing is that, FCA tells you Chase UK is a clone of this FCA authorised firm, which looks very similar to chase.co.uk (though not directly linked, but intuitively you feel they are somewhat linked), and that immediately makes me cautious about chase.co.uk.

To your second comment - yes that's where the problem is. FCA just doesn't tell you chase.co.uk is a genuine domain name of JP Morgan. I went away and did a few clicks on www.jpmorganchase.com, and eventually ended up in chase.co.uk, which is good. But as a consumer looking for a genuine firm approved by FCA, I would expect FCA just tells me all the genuine domain names associated with that specific firm.

boingy

Coming back to the original topic...

Now that you've established that you are not getting double interest payments from Barclays you should definitely move your money to somewhere paying better interest. Ideally your target rate should be over 5% but you might want to accept slightly less to get a more familiar bank or one that is easy to access by your preferred method (some folks don't want/like apps).

taihai

boingy said:

Coming back to the original topic...

Now that you've established that you are not getting double interest payments from Barclays you should definitely move your money to somewhere paying better interest. Ideally your target rate should be over 5% but you might want to accept slightly less to get a more familiar bank or one that is easy to access by your preferred method (some folks don't want/like apps).

Yes, thanks - as recommended by one of the folks here, I have opted for Marcus. It feels safer to have my interests compounding in a Goldman Sachs' saving account (mostly because the rate is better than Chase).