Marcus by Goldman Sachs Bank

[paulw123]

3.2%? Money stays with Santander then.

[time waster]

Invested 3.26 if you want a little more

[time waster]

Investec

[Simpo Two]

daddy cool said:

The rate has just gone up... so i thought i'd check the thread and see whos the first knob that complains about it

For a fraction of a percent I can't be bothered to perpetually shuffle money about from place to place. But I do object to the way Marcus operate the bonus, witness:

To add the bonus rate from your web browser:

Log into your Marcus account at marcus.co.uk
Select ‘View’ to access your Online Savings Account or Cash ISA
Select 'View bonus options' under your account information
When there’s a bonus available, you’ll see the bonus rate and expiry date
Select ‘Renew your bonus’

So you have to get the e-mail, then jump through lots of hoops to get the bonus. Does every bank do this, and how much do they save by putting hurdles up rather than just adding the bonus?

[RicksAlfas]

Simpo Two said:

For a fraction of a percent I can't be bothered to perpetually shuffle money about from place to place. But I do object to the way Marcus operate the bonus, witness:

To add the bonus rate from your web browser:

Log into your Marcus account at marcus.co.uk
Select ‘View’ to access your Online Savings Account or Cash ISA
Select 'View bonus options' under your account information
When there’s a bonus available, you’ll see the bonus rate and expiry date
Select ‘Renew your bonus’

So you have to get the e-mail, then jump through lots of hoops to get the bonus. Does every bank do this, and how much do they save by putting hurdles up rather than just adding the bonus?

That's strange. No hoops or hurdles here. Mine have always been automatic.

[RammyMP]

RicksAlfas said:

Simpo Two said:

For a fraction of a percent I can't be bothered to perpetually shuffle money about from place to place. But I do object to the way Marcus operate the bonus, witness:

To add the bonus rate from your web browser:

Log into your Marcus account at marcus.co.uk
Select ‘View’ to access your Online Savings Account or Cash ISA
Select 'View bonus options' under your account information
When there’s a bonus available, you’ll see the bonus rate and expiry date
Select ‘Renew your bonus’

So you have to get the e-mail, then jump through lots of hoops to get the bonus. Does every bank do this, and how much do they save by putting hurdles up rather than just adding the bonus?

That's strange. No hoops or hurdles here. Mine have always been automatic.

Mine too, both both the normal savings and the ISA account.

[alscar]

I don’t get the bonus automatically but it only takes a few clicks to extend it each time I get the email.
I’m sad so I make a diary note to check every few months anyway.
No other Bank or BS make you do this afaik but I’m happy enough with the account.

[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.

[LuS1fer]

Email saying it's now 3.3%.

I' m not sure that the 0.1% over Santander is worth the shift.

I'll wait

[ReallyReallyGood]

Just seen Marcus have upped their bonus by 0.1 if you renew it

[Tagteam]

ReallyReallyGood said:

Just seen Marcus have upped their bonus by 0.1 if you renew it

Thanks

[SlimJim16v]

Thanks, so 3.3% now.

[paulw123]

Have just transferred across even though it’s by far the worst banking app of the main banks

[RicksAlfas]

paulw123 said:

Have just transferred across even though it’s by far the worst banking app of the main banks

The website's good though, as is the customer service if you need to talk to someone.

[brickwall]

Make sure you enable the new bonus in the app though.

[funinhounslow]

ReallyReallyGood said:

Just seen Marcus have upped their bonus by 0.1 if you renew it

Just renewed but why Marcus persist in this ridiculous system is baffling

As a customer it is a faff to log in and navigate to the renew bonus section- I can never quite remember where it is. And do it twice.

And there must be a cost to the business of building the “add bonus” functionality to the app and website and to send those emails.

I cannot see anyadvantage of this to Marcus. Wouldn’t it be simpler cheaper and easier to have everyone on the same rate and avoid annoying people who for whatever reason don’t see the email and renew their bonus?

[alscar]

funinhounslow said:

Just renewed but why Marcus persist in this ridiculous system is baffling

As a customer it is a faff to log in and navigate to the renew bonus section- I can never quite remember where it is. And do it twice.

And there must be a cost to the business of building the “add bonus” functionality to the app and website and to send those emails.

I cannot see anyadvantage of this to Marcus. Wouldn’t it be simpler cheaper and easier to have everyone on the same rate and avoid annoying people who for whatever reason don’t see the email and renew their bonus?

I guess very few people have closed their accounts because of this and so Marcus " gain " a bit when people don't take advantage of the bonus rate.
In fairness other aspects /functionality of their website portal is good in terms of the ease of printing off tax certificates and the like.
RCI Bank has a very good portal but Nationwide's is like going back decades !

[Your Dad]

3.50% now with bonus rate, and interestingly mine was showing as 3.39% before accepting the bonus this morning although yesterday it was 3.20% with a bonus applied.

[LH.]

Shame they are consistently behind the market leaders now...

Shawbrook Bank 3.65% is looking interesting.

[LuS1fer]

Chase are increasing to 3.3% from the 22nd but it looks like Marcus will now get the money.