Move money from easy access ISA to Marcus 1 year fix at 4.55%?

AuntyShell42

Hi, I’ve opened a Marcus savings account but nervous about moving money as Barclays unable to identify the account paying to. Is this usual for this bank please? 

AltruisticPie1544

AuntyShell42 said:

Hi, I’ve opened a Marcus savings account but nervous about moving money as Barclays unable to identify the account paying to. Is this usual for this bank please? 

It's been a while since I last used my Marcus account but I had a similar thing with Natwest a few years ago. Everything worked out fine though. If you're nervous then send a small amount first to make sure it goes through before transferring the rest of it.

DRS1

AuntyShell42 said:

Hi, I’ve opened a Marcus savings account but nervous about moving money as Barclays unable to identify the account paying to. Is this usual for this bank please? 

Yes I think it even qualified for its own thread.

What have you put as the payee?  Goldman Sachs? or your own name?  Personally I put Goldman Sachs with the payment reference being my name.  It still gets a warning notice but the payment goes through OK.

MrWannabe

AuntyShell42 said:

Hi, I’ve opened a Marcus savings account but nervous about moving money as Barclays unable to identify the account paying to. Is this usual for this bank please? 

To put your mind at rest, maybe check/test all is OK by transferring only a small mount (£1) to start with.   If the £1 arrives in your Marcus account, you will know all is good and will be more comfortable about transferring a larger sum