Marcus 4.55% fixed rate savings account

Redwinelover

Currently, a top pick. Seems easy to set up. Anyone had any issues in the past either setting up, during the term or at maturity?

ColdIron

Marcus are very easy to deal with. I opened the previous 4.55% in minutes and I expect maturity to be equally hassle free

dosh37

Interesting.

I have had a few Marcus savings accounts in the past.

Never any problems - although interest rates have been poor for the last few years.

4.55% for 1 year is not bad right now.

Rheumatoid

Really easy to open and operate.  My 89 year old Mum finds it straightforward and she messed up her login once and they were great on the phone talking her through putting it right. 

EthicsGradient

Not a problem for most, but several years ago, I applied to Marcus, and the process asked me if I had ever been a US taxpayer - I had, having worked on assignment there several years before that. When I truthfully answered 'yes', the process said they couldn't accept me as a customer. I contacted them, and they said they really did mean that. Perhaps they've come to their senses now; or perhaps I'd lie if asked again and I really, really wanted an account with them, since no other bank thinks this is a problem.

dgpur

EthicsGradient said:

Not a problem for most, but several years ago, I applied to Marcus, and the process asked me if I had ever been a US taxpayer - I had, having worked on assignment there several years before that. When I truthfully answered 'yes', the process said they couldn't accept me as a customer. I contacted them, and they said they really did mean that. Perhaps they've come to their senses now; or perhaps I'd lie if asked again and I really, really wanted an account with them, since no other bank thinks this is a problem.

Lie. They’ll never check (and how could they?). It’s a broad question that really isn’t meant to apply to someone like you. So tell a fib, a porky pie, some economical truth telling.

Section62

dgpur said:

EthicsGradient said:

Not a problem for most, but several years ago, I applied to Marcus, and the process asked me if I had ever been a US taxpayer - I had, having worked on assignment there several years before that. When I truthfully answered 'yes', the process said they couldn't accept me as a customer. I contacted them, and they said they really did mean that. Perhaps they've come to their senses now; or perhaps I'd lie if asked again and I really, really wanted an account with them, since no other bank thinks this is a problem.

Lie. They’ll never check (and how could they?). It’s a broad question that really isn’t meant to apply to someone like you. So tell a fib, a porky pie, some economical truth telling.

Lying on an application for a financial product is a really silly idea.

They can check - pretty obviously by comparing the new application details with one made in the past, less obviously by using one of the agencies set up to help detect application fraud across different firms.  And at best the 'ban' for life would be confirmed, at worst the applicant could be flagged as making a fraudulent application.

"It was an honest mistake" is less likely to wash when the applicant has previously been in touch with the bank to clarify the question.

Risking getting a marker for the sake of a small fraction of a percent extra interest just isn't sensible.

Redwinelover

Having signed up, transfers 'in' take around 15 mins and there is no app notification when it arrives. In fact the app doesn't appear in the list of apps under Notifications in Settings. Appear to be unable to transfer out to Linked Account (must be a current account) during 14 day funding window e.g. to check it works, so be sure before you do it. Otherwise, all good. 

where_are_we

All our non ISA cash savings are in a mix of RS`s and Edge savings accounts. 
These have an average interest rate of a little over 6%.
This average will probably reduce over the next 12 months.
However I don`t envisage it dropping below the Marcus 4.55% offer.
I have decided to continue with our present mix and not put some of our cash in Marcus 4.55% though it is a good rate for such a product.
RS`s require quite a bit of effort, so I understand some savers going for this Marcus product due to the certainty of return and it being easy to manage.
We also have 1 year fixed ISA`s so "each to their own" comes to mind.

MACKEM99

where_are_we said:

All our non ISA cash savings are in a mix of RS`s and Edge savings accounts. 
These have an average interest rate of a little over 6%.
This average will probably reduce over the next 12 months.
However I don`t envisage it dropping below the Marcus 4.55% offer.
I have decided to continue with our present mix and not put some of our cash in Marcus 4.55% though it is a good rate for such a product.
RS`s require quite a bit of effort, so I understand some savers going for this Marcus product due to the certainty of return and it being easy to manage.
We also have 1 year fixed ISA`s so "each to their own" comes to mind.

It would be a strange world if we all thought the same way.😃

Isthisforreal99

Does Marcus take longer at weekend to ahow incoming transfers? Seen 15 minutes stated earlier but did a transfer a couple of hours ago and not showing.