Marcus by Goldman Sachs Bank

[bad company]

Flooble said:

bad company said:

funinhounslow said:

I don’t know why they persist with these “bonus rates” can’t they just give the same rate to all account holders?

I don’t understand why anyone’s still using Marcus rather than Chase?

FSCS limits?

Yes, that’s a valid reason. Particularly on PH.

[bad company]

Shnozz said:

5pen said:

funinhounslow said:

For those who haven’t jumped ship to Chase Marcus are now offering a 0.25% “bonus rate” that you can activate via the app.

Why they persist in doing this rather than just increasing the rate for everyone I have no idea…

Thank you!

I would not have spotted that without this thread.

Likewise, many thanks.

They clearly prefer it if people don’t notice and stick with the lower rate.

[bad company]

5pen said:

steveo3002 said:

Shnozz said:

Yeah, poor form really to hide it away like that.

think last time it happened they emailed a few days later explaining it was available

In their defence, I did receive an email notification from them today, but a few hours after seeing it here.

Why don’t they just increase the rate and send you an email saying that’s happened?

[bad company]

Simpo Two said:

bad company said:

Why don’t they just increase the rate and send you an email saying that’s happened?

I can only think that because by doing it the way they did, they are honouring the ethical need to tell you, but hoping you don't get the e-mail or can't be bothered to do it 'cos it's only 0.25%.

It would be interesting to see how much money they save by not paying the bonus to people who didn't activate it.

Anyway, I've jumped through the hoops like the required performing seal and got my extra 56p.

I didn’t bother as I have a zero balance now having moved to Chase. The great deal at Chase won’t last forever though so I may return.

[bad company]

LuS1fer said:

I only got my email today! Have upped the rate on my ISA via the app but, as noted, surely it should be automatic.

At least it narrows the gap as Chase don't do an ISA and I have all my other savings with Chase at their 1.5 % rate. Maybe they will increase theirs too.

Why would Chase increase their rate when they’re already the highest and there’s a ‘waiting room’ for people opening new accounts with them.

[bad company]

snoopy25 said:

a311 said:

Another bonus with Chase which I hadn't realised is the zero fees for spending abroad. Will be trying ot out next month.

Currently in France at the moment and confirm it's a near perfect rate when using it

We’re just back from the USA where both Marcus and Chase cards worked well enough. Happily we bought some $’s from Marcus before travelling so got a better exchange rate. After we spent those $’s we switched to Chase which was fine, good rate, 1% back, free cash withdrawals from Chase ATM and the ability to buy gas/petrol easily without having to input a zip code.

[bad company]

paulw123 said:

FriedMarsBar said:

paulw123 said:

Marcus up to 1.55 for me. Not sure I CBA to transfer funds over or not as I much prefer the chase banking app.

Does that include a bonus? I'm getting 1.8% from Marcus, from memory I had to "enable" the bonus of .25%.

Ah, Thanks for that, yes just logged in and yes it’s 1.8. I had the bonus enabled but the email this morning confused me! Right yeah I’ll pop it back all back to Marcus tonight then I think.

Hope chase follows suit as I much prefer it’s app

Edited by paulw123 on Thursday 22 September 13:04

I also find the Chase app much better and hope they’ll also increase the rate. I’ll give it a day or so.

[bad company]

Annoying having to apply to get the bonus rate. Shabby way of doing business imo.

[bad company]

LuS1fer said:

bad company said:

Annoying having to apply to get the bonus rate. Shabby way of doing business imo.

When I went to apply mine, it had already been done automatically.

Mine wasn’t. I had to apply for the bonus rate on the app.

[bad company]

I just closed my Marcus account. I’ll carry on with Lloyds as my main bank, Chase for small transactions and deposits and Revolut occasionally.