Marcus by Goldman Sachs Bank

[steveo3002]

Joey Deacon said:

steveo3002 said:

bit lame when others are at 2.75 no?

Yes, just moved all my money from Marcus to Santander as they are paying 2.75%

tried to myself but they want all manner of i.d sending over , thinking there will be another better account by the time theyve accepted me

[LuS1fer]

Bowser87 said:

Similarly chase moving to 2.10% next week.

Back it will go then. Like ping pong

[LH.]

steveo3002 said:

tried to myself but they want all manner of i.d sending over , thinking there will be another better account by the time theyve accepted me

Same here,told them to remove all my details from the system.

[steveo3002]

LH. said:

ame here,told them to remove all my details from the system.

how did you do this ?

[LH.]

steveo3002 said:

how did you do this ?

Santander UK/Customer service
0800 912 3123

[RammyMP]

I moved a few thousand into a Vanguard share ISA to avoid paying tax on my interest, it’s dropped in value by 15%!

[LuS1fer]

Just had an email from Chase to say they are increasing their rate to 2.1% from 24 October so I'll move my savings back then.

[paulw123]

LuS1fer said:

Just had an email from Chase to say they are increasing their rate to 2.1% from 24 October so I'll move my savings back then.

Mines staying firmly in Santander at 2.75. Try harder chase and Marcus!
Marcus online banking is pathetic so it would need to be a good rate to get me back there. Chase was great but 2.1 isn’t nearly close enough to Santander

[LuS1fer]

paulw123 said:

LuS1fer said:

Just had an email from Chase to say they are increasing their rate to 2.1% from 24 October so I'll move my savings back then.

Mines staying firmly in Santander at 2.75. Try harder chase and Marcus!
Marcus online banking is pathetic so it would need to be a good rate to get me back there. Chase was great but 2.1 isn’t nearly close enough to Santander

True. I've just applied for an account. I can keep my Chase account lightly funded to get the 1% cashback.

Amazingly, that took about 5 minutes to open as I've had other accounts with Santander in the past. Job done. And you're right, Marcus banking app is pathetic but Chase is very good.

Edited by LuS1fer on Sunday 16th October 10:58

[steveo3002]

anyone else getting an error message when trying to pull some funds , tried a few times over the weekend

[LuS1fer]

steveo3002 said:

anyone else getting an error message when trying to pull some funds , tried a few times over the weekend

I pulled some funds on Saturday night and it didn't appear in the destination account until midday on Sunday.

[wibble cb]

I don't have any daags in this fight, but GS are signalling a possible withdrawal from consumer banking...maybe not now, but its coming...

https://ca.finance.yahoo.com/news/analysis-goldman...

[steveo3002]

whats the minimum i can leave in marcus bank to keep the account alive? id like to keep a fiver in there if possible incase they up the interest in the future

[LuS1fer]

steveo3002 said:

whats the minimum i can leave in marcus bank to keep the account alive? id like to keep a fiver in there if possible incase they up the interest in the future

Mine was nil for many months though I still had my ISA account with them.

[LH.]

steveo3002 said:

whats the minimum i can leave in marcus bank to keep the account alive? id like to keep a fiver in there if possible incase they up the interest in the future

Start saving with £1

[Graveworm]

wibble cb said:

I don't have any daags in this fight, but GS are signalling a possible withdrawal from consumer banking...maybe not now, but its coming...

https://ca.finance.yahoo.com/news/analysis-goldman...

It's a shame they don't have any Fixed accounts for more than a year as I would take a punt - we have been lucky recently with a couple of these, with other institutions, where they pulled out of consumer and paid up early.

[ChevronB19]

Worst bit about Marcus is you appear to have to know about bonus rates to apply them yourself, rather than them being applied automatically

[ChevronB19]

paulw123 said:

LuS1fer said:

Just had an email from Chase to say they are increasing their rate to 2.1% from 24 October so I'll move my savings back then.

Mines staying firmly in Santander at 2.75. Try harder chase and Marcus!
Marcus online banking is pathetic so it would need to be a good rate to get me back there. Chase was great but 2.1 isn’t nearly close enough to Santander

Only if it’s up to £200 a month though? Mine varies, some months it can be £50, others £1k. Marcus (for all its faults) allows bigger flexible deposits and instant access. However I am a n00b at this.

What I want is an instant access (or at best 1 month) account with flexible deposit (in all reality, never any more than 1k per month) and unlimited withdrawals, at the best interest rate given those conditions. Just how I like to ‘manage’ (ha) my money. 2% from Marcus seems reasonable given my circumstances, or am I totally wrong? (Genuine question)

Any tips?

[LuS1fer]

ChevronB19 said:

Only if it’s up to £200 a month though? Mine varies, some months it can be £50, others £1k. Marcus (for all its faults) allows bigger flexible deposits and instant access. However I am a n00b at this.

What I want is an instant access (or at best 1 month) account with flexible deposit (in all reality, never any more than 1k per month) and unlimited withdrawals, at the best interest rate given those conditions. Just how I like to ‘manage’ (ha) my money. 2% from Marcus seems reasonable given my circumstances, or am I totally wrong? (Genuine question)

Any tips?

They HAD (until very recently) a Limited Edition Esaver account which was instant access and 2.72% (I opened mine last week) but looking at it now, it seems it's now been lowered to 2% and is only available to 1 November.

They also have a Regular esaver at 2.72%, saving up to £200 a month, fixed for 12 months (whereas other accounts may go up or down).

I also have a Chase account with a linked current and savings account. The current account gives 1% cashback so I deposit a smaller amount in the savings account (presently 1.5%) but soon to be 2.1% from the 24th (Marcus currently 2%) and move it to the current account as and when required. This seems your best bet.

I assume you have taken advantage of your ISA allowance though Marcus is still only 2% on that and these days, you have to earn more than £1000 in interest a year to make any difference.

Edited by LuS1fer on Wednesday 19th October 16:14

[kingston12]

ChevronB19 said:

paulw123 said:

LuS1fer said:

Just had an email from Chase to say they are increasing their rate to 2.1% from 24 October so I'll move my savings back then.

Mines staying firmly in Santander at 2.75. Try harder chase and Marcus!
Marcus online banking is pathetic so it would need to be a good rate to get me back there. Chase was great but 2.1 isn’t nearly close enough to Santander

Only if it’s up to £200 a month though? Mine varies, some months it can be £50, others £1k. Marcus (for all its faults) allows bigger flexible deposits and instant access. However I am a n00b at this.

What I want is an instant access (or at best 1 month) account with flexible deposit (in all reality, never any more than 1k per month) and unlimited withdrawals, at the best interest rate given those conditions. Just how I like to ‘manage’ (ha) my money. 2% from Marcus seems reasonable given my circumstances, or am I totally wrong? (Genuine question)

Any tips?

I think paulw123 was referring to the Santander eSaver Limited Edition which was until recently paying 2.75% on any balance up to £250k, rather than the Regular eSaver which only paid that on a fixed monthly deposit.

I notice that has now gone down to 2%:

https://www.santander.co.uk/personal/savings-and-i...

I opened one on Monday and that is now showing a rate of 2.72%

Edited by kingston12 on Wednesday 19th October 16:14