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Post by MrHappyGoLucky on Sept 13, 2019 21:45:00 GMT
I tried applied the Al Rayan savings account yesterday. But it needs to send identify documents for further verification. So can't be bother. Not sure why some banks still needs to go through this manual process.
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sd2
Member of DD Central
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Post by sd2 on Sept 19, 2019 9:45:22 GMT
Pays 1.5% (incl .15% bonus for a year) on £1-250,000. Savings account, deposits/withdrawals to nominated account. Instant access, FP
Sign up took about 5min
Thank you for this info. Very quick indeed, took me less than 5 min. I've recently opened M&S so I can use their 5% reg saver, that took almost two months. Marcus looks like the best out of instant access products ATM. Closest I have is BM (1.44%), but withdrawals aren't really instant (next working day), so I use Tesco (1.34%) for quick transactions, now it will be Marcus. Reference M&S have started filling in the internet form twice but they are sooo nosey. So many questions. Their income questions, what other bank accounts have you got (not sure about the latter) defenetly foriegn bank accounts and the nationality. I am a dual national , the worst one! I would love the account just for the £180 shopping and the 5% is a great bonus. How many pages of form filling was there? My "real"bank account is first direct they have 5% regular saver which I restart every year £300 a month. Had it for about 10 years although it used to be 6%. Sweet! The
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sd2
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Post by sd2 on Sept 19, 2019 10:12:10 GMT
A small tip courtesy of MSE forums. If you log in to your Marcus account, go to the detail of your account and look in the bottom right hand corner you'll see a little field called 'review my savings'. Go there, and it will let you refresh your bonus rate for another full year. So, if the variable aspect remains the same, you'll stay at 1.5% for another year from today rather then reverting to 1.35% a year after you opened it. Start at dashboard, the normal start point when you log on, to the right of your Current balance is view. Click on. Or from their HELPPP page; Log into your online account. Select ‘View’. Select ‘Review your savings’, displayed underneath your interest rate details. Interest rate (AER/gross) 1.45% / 1.44% Interest rate details (gross) 1.34% underlying interest rate 0.10% bonus rate Bonus rate expires on 18/09/2020 ➜ Review your savings ; click on If you do it now you will get 1.45% for a year. If the interest rate goes up (I know, a bit far fetched) then I assume you can do the same!! Unless someone comes up with significantly better offer the fast pay facility wins, for me.
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r00lish67
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Post by r00lish67 on Sept 19, 2019 10:42:39 GMT
A small tip courtesy of MSE forums. If you log in to your Marcus account, go to the detail of your account and look in the bottom right hand corner you'll see a little field called 'review my savings'. Go there, and it will let you refresh your bonus rate for another full year. So, if the variable aspect remains the same, you'll stay at 1.5% for another year from today rather then reverting to 1.35% a year after you opened it. Start at dashboard, the normal start point when you log on, to the right of your Current balance is view. Click on. Or from their HELPPP page; Log into your online account. Select ‘View’. Select ‘Review your savings’, displayed underneath your interest rate details. Interest rate (AER/gross) 1.45% / 1.44% Interest rate details (gross) 1.34% underlying interest rate 0.10% bonus rate Bonus rate expires on 18/09/2020 ➜ Review your savings ; click on If you do it now you will get 1.45% for a year. If the interest rate goes up (I know, a bit far fetched) then I assume you can do the same!! Unless someone comes up with significantly better offer the fast pay facility wins, for me. Not quite sure why you're flagging this again now? This was worth doing when the rate was 1.5%, but for anyone who's held a Marcus account for longer than a couple of weeks, you'd actually lowering your rate by doing this.
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registerme
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Post by registerme on Feb 19, 2020 15:40:52 GMT
Rate reduction just announced .
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aju
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Post by aju on Feb 19, 2020 15:52:16 GMT
Rate reduction just announced . Where was this, Mrs Aju did not get eMail notification, mind you her 1.5% rate lasts until next August 31st so not sure if they would flag that.
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registerme
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Post by registerme on Feb 19, 2020 16:08:16 GMT
Email I just received. Apparently "savings rates have declined over the last few months". As a result my Marcus rate will be going down by 0.05% starting March 10th.
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aju
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Post by aju on Feb 19, 2020 16:14:50 GMT
Email I just received. Apparently "savings rates have declined over the last few months". As a result my Marcus rate will be going down by 0.05% starting March 10th. Perhaps Mrs Aju has it and not copied it to her Financial Advisor yet. (Too busy making out her next shopping trip list I guess). That "savings rates have declined over the last few months" comment says it all. They are just acting like all the other lemmings after all. It's quite interesting how they come onto the market in a blaze of glory and praise and after all that end up just like the rest, shame but predictable i suppose. Thank for the clarification.
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cb25
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Post by cb25 on Feb 20, 2020 14:25:20 GMT
Rate reduction just announced . Where was this, Mrs Aju did not get eMail notification, mind you her 1.5% rate lasts until next August 31st so not sure if they would flag that. My 0.15% bonus expires Aug 2020 and I got the email today saying the underlying rate will reduce from 1.35% AER to 1.30% AER on 10/3/20
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aju
Member of DD Central
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Post by aju on Feb 20, 2020 14:56:54 GMT
Where was this, Mrs Aju did not get eMail notification, mind you her 1.5% rate lasts until next August 31st so not sure if they would flag that. My 0.15% bonus expires Aug 2020 and I got the email today saying the underlying rate will reduce from 1.35% AER to 1.30% AER on 10/3/20 Mrs Aju got the email this morning so she will have 1.30 Aer/1.29 Gross + 0.15 = 1.45 AER /1.44 Gross, a reduction 0.05 in percentage terms. (Approx 24p less on £1000 sum finishing on 31/8) In her case she will lose just over £14 in interest if her current sum saved stays the same!.
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Post by df on Feb 20, 2020 16:51:58 GMT
Email I just received. Apparently "savings rates have declined over the last few months". As a result my Marcus rate will be going down by 0.05% starting March 10th. Perhaps Mrs Aju has it and not copied it to her Financial Advisor yet. (Too busy making out her next shopping trip list I guess). That "savings rates have declined over the last few months" comment says it all. They are just acting like all the other lemmings after all. It's quite interesting how they come onto the market in a blaze of glory and praise and after all that end up just like the rest, shame but predictable i suppose. Thank for the clarification. I received e-mail the morning. For me it will mean 1.4% from March until September. I have £0 on my account because I found a better (1.6%) alternative. Don't know how long it will last, so there's a chance I will put some cash in Marcus - 1.4% is still the bast available rate for this kind of account. It's true, savings rates have recently declined across the board. Santander is dropping down to 1%, TSB to 1.5%, Lloyds/BoS already reduced to 1.2%. Regular savers dropped the rates too. There are few switch bonuses on the market, but I've used up all I could already. So this Marcus announcement didn't come as a surprise.
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cb25
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Post by cb25 on Apr 2, 2020 9:23:37 GMT
Marcus now have a 1-year fixed term savings account ( here), no withdrawals permitted, but early closure with fee allowed. Pays 1.45%, which isn't a huge rate.
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daveb
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Post by daveb on Apr 2, 2020 10:08:43 GMT
I think premium bonds are now at 1.3% tax free, the rate has fallen less than most things
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aju
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Post by aju on Apr 2, 2020 10:20:41 GMT
Marcus now have a 1-year fixed term savings account ( here), no withdrawals permitted, but early closure with fee allowed. Pays 1.45%, which isn't a huge rate. I seem to recall from a read a few days ago that their fee is 90 days interest, this I think would reduce the 1.45% rate to about 1.08% if one released it on day 364 - I think! If I understood it correctly. Edit: I noticed a direct link in previous comments and it would seem I wasn't quite correct just taking 25% of the headline interest.
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jonno
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nil satis nisi optimum
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Post by jonno on Apr 17, 2020 11:18:32 GMT
0.1% reduction on the way
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