Marcus 4.55% fixed rate savings account

soulsaver

FP under maintenance.

cloud_dog

I thought under usual circumstances Marcus doesn't process transfers out at weekends? 

Ocelot

cloud_dog said:

I thought under usual circumstances Marcus doesn't process transfers out at weekends? 

I transferred money yesterday (Saturday) to this account, and it was in when I checked an hour or so later.

Redwinelover

What are the maturity options? Specifically, can you transfer back to your linked account at maturity? 

cloud_dog

Ocelot said:

cloud_dog said:

I thought under usual circumstances Marcus doesn't process transfers out at weekends? 

I transferred money yesterday (Saturday) to this account, and it was in when I checked an hour or so later.

Yes, they receive payments in over the weekend but, I don't think they process withdrawals at the weekend, well that was my understanding.  Haven't actively used Marcus for a number of years now (rates pants).

refluxer

Redwinelover said:

What are the maturity options? Specifically, can you transfer back to your linked account at maturity? 

That's pretty standard for a fixed rate account in my experience.

It'll normally tell you what to expect at maturity in the Summary Box / account T&C's.

DRS1

refluxer said:

Redwinelover said:

What are the maturity options? Specifically, can you transfer back to your linked account at maturity? 

That's pretty standard for a fixed rate account in my experience.

It'll normally tell you what to expect at maturity in the Summary Box / account T&C's.

All that says is that they will let you know the maturity options closer to maturity.  If you don't pick something then it goes into a Maturity Saver.

molerat

DRS1 said:

refluxer said:

Redwinelover said:

What are the maturity options? Specifically, can you transfer back to your linked account at maturity? 

That's pretty standard for a fixed rate account in my experience.

It'll normally tell you what to expect at maturity in the Summary Box / account T&C's.

All that says is that they will let you know the maturity options closer to maturity.  If you don't pick something then it goes into a Maturity Saver.

From where you can just punt it into your linked account - you can only have one linked account across all Marcus accounts and any new account will automatically be linked.

Eco_Miser

Redwinelover said:

What are the maturity options? Specifically, can you transfer back to your linked account at maturity? 

They're not listed, presumably because they depend on what accounts Marcus are offering at maturity.

The T&C's specific to this account include the phrase "If you want to put your money into another 1 Year Fixed Rate Saver when the term ends", so presumably transfers to other Marcus accounts are possible, there's no reason to think a transfer to your linked account would not be available, particularly since, as already mentioned the default Maturity Saver allows such transfers.

michael1234

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.

I would too. Let those who enjoy rules for rules sake tell us who has ever been prosecuted when denying ever being a US taxpayer when opening a UK bank account.