Marcus by Goldman Sachs Bank

[GrizzlyBear]

LH. said:

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

I have left £1 in mine whenever they have fallen behind the best, never had an issue. Mine is sitting in the Santander 2.75% acc, so Marcus needs to pull up his socks if he wants to see my "emergency" money again.

[paulw123]

kingston12 said:

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

Yes that’s the one, 2.72 rate is due to interest being paid monthly rather than annually.

[kingston12]

paulw123 said:

Yes that’s the one, 2.72 rate is due to interest being paid monthly rather than annually.

Makes sense, thanks. I just have missed that when I opened it, I usually always choose the annual option!

Edited by kingston12 on Sunday 23 October 10:07

[steveo3002]

sainsburys bank offering 2.75 if anyone missed it

[XDA]

Anyone seeing a delay withdrawing from Marcus? It’s been two hours since requesting a withdrawal and still not received it.

I know it’s a Sunday so maybe that’s why? I was getting the money from Marcus instantly yesterday.

[Carbon Sasquatch]

Goldmans latest reorganisation seems to indicate it is pulling back a bit on retail banking and focusing on other things. If that's right, then don't expect market leading rates...

[Rob_125]

A fair few times with marcus I had to wait till the next day until it showed in the destined account.

[steveo3002]

XDA said:

Anyone seeing a delay withdrawing from Marcus? It’s been two hours since requesting a withdrawal and still not received it.

I know it’s a Sunday so maybe that’s why? I was getting the money from Marcus instantly yesterday.

yes , been pulling 10k a day and its been instant , but todays hasnt shown up yet

[LuS1fer]

steveo3002 said:

XDA said:

Anyone seeing a delay withdrawing from Marcus? It’s been two hours since requesting a withdrawal and still not received it.

I know it’s a Sunday so maybe that’s why? I was getting the money from Marcus instantly yesterday.

yes , been pulling 10k a day and its been instant , but todays hasnt shown up yet

It used to be instant with mine to Barclays but now it goes out of the Marcus account and the delay seems to be with Barclays who insist o9n sending me texts about whether I made it, am I being scammed etc. Because of daily limits, I had to make two and got a call from their fraud department asking if I was being coerced, despite the destination account being in my name... Annoying.

[XDA]

steveo3002 said:

XDA said:

Anyone seeing a delay withdrawing from Marcus? It’s been two hours since requesting a withdrawal and still not received it.

I know it’s a Sunday so maybe that’s why? I was getting the money from Marcus instantly yesterday.

yes , been pulling 10k a day and its been instant , but todays hasnt shown up yet

Finally came though for me after 2.5 hours.

[XDA]

LuS1fer said:

steveo3002 said:

XDA said:

Anyone seeing a delay withdrawing from Marcus? It’s been two hours since requesting a withdrawal and still not received it.

I know it’s a Sunday so maybe that’s why? I was getting the money from Marcus instantly yesterday.

yes , been pulling 10k a day and its been instant , but todays hasnt shown up yet

It used to be instant with mine to Barclays but now it goes out of the Marcus account and the delay seems to be with Barclays who insist o9n sending me texts about whether I made it, am I being scammed etc. Because of daily limits, I had to make two and got a call from their fraud department asking if I was being coerced, despite the destination account being in my name... Annoying.

I always get the same with HSBC when moving large amounts out despite the destination account being in my name and an account I’ve sent and received from multiple times over the past 2 years.

The HSBC fraud department in Asia are very patronising and arrogant.

[gibbon]

2.5% now.

[RicksAlfas]

gibbon said:

2.5% now.

[lizardbrain]

2.25 without the 12 month intro bonus

[steveo3002]

gibbon said:

2.5% now.

too little ,too late

ive kept £1 in there incase they ever match the others

[brickwall]

steveo3002 said:

gibbon said:

2.5% now.

too little ,too late

ive kept £1 in there incase they ever match the others

Given Sainsburys and Santander 2.75% are now unavailable, it’s probably the best option for those that didn’t manage to jump on either of those bandwagons.

Sainsburys also had withdrawal limits, but you could have up to £2M in there.

So the order for east access cash savings now goes:
- First £250k in Santander 2.75% (if you got in in time)
- Next £250k in Marcus 2.5%
- Next £250k in Chase 2.1%

[RicksAlfas]

I'm happy to "lose" .25% so I don't have to deal with Santander.

[steveo3002]

hoping this will all be old hat by next week /month

[LH.]

Got a quid left there

went to Sainsbury's month ago 2.75%

[the tribester]

brickwall said:

steveo3002 said:

gibbon said:

2.5% now.

too little ,too late

ive kept £1 in there incase they ever match the others

Given Sainsburys and Santander 2.75% are now unavailable, it’s probably the best option for those that didn’t manage to jump on either of those bandwagons.

Sainsburys also had withdrawal limits, but you could have up to £2M in there.

So the order for east access cash savings now goes:
- First £250k in Santander 2.75% (if you got in in time)
- Next £250k in Marcus 2.5%
- Next £250k in Chase 2.1%

I'd kept a Cynergy Bank account ticking over because they can be ahead of the pack, and they went to 2.75% before Santander.



Marcus are too little too late for me, and Chase well behind, but I still like their cashback and round-up though.