Yup. Nice reminder why I still carried on using Atom after the Marcus rate went up and the bonus came back.
Tried withdrawing from Marcus at around this time Saturday. Hasn’t arrived yet. Just remembered I have savings in Atom too. Just withdrawn it, arrived immediately.
Given how it always seems to be Saturdays when I need to access a large chunk of savings, the higher rate over atom just isn’t worth the hassle. Gone back to 50/50ing my standing orders.
I do the same. I have the bulk of my savings in Marcus but kept a bit in Atom just for that immediate easy access.
Just received it!
Got mine about an hour ago too!
Looking at the Marcus app it appears they might make a bid into normal banking and offer a debit card (their app appears to be very optimised to add this, just a complete speculation rn)
Thoughts? Do we think they’d do this? (I love speculating btw this is 100% speculation)
I think they actually had planned to, but scaled those plans back for the UK.
it’s important to note, the app is nothing more or less than a port of their US app, where they already offer more services. Doesn’t necessarily mean we’ll get them, but they do plan to launch investing and wealth management products here early next year which is their reasoning for launching the app to prepare for those products.
Current accounts may happen at some point, and I’d love to see it happen, but as far as I know, right now, because of the way things work here in the UK, they walked those plans back in favour of wealth management products.
edit to add: an article from Reuters where GS talk about some of this
this bit in particular is why no current account:
Goldman is shifting the focus of Marcus UK to wealth management to stay within UK banking rules which demand retail deposits totalling more than 25 billion pounds ($35 billion) be ring-fenced.
Ring-fencing would require Marcus UK to become a separate legal entity and restrict how much capital could be shared with the rest of Goldman’s business in the country.
Yes please! Another card to add to the collection! Although I’m starting to run out of Apple Pay card slots😆
I’m curious when it will come and how it will compete with Nutmeg/Vanguard. I’m still filling up my emergency fund but once that’s done I’ll start investing little bits
HAH! Apple Pay gets reserved for the cards currently in use so I don’t fill up all the slots.
I suspect we’ll see something similar to what’s on offer in the US. These sort of products tend not to differ much across borders, so if you check those out, it’ll give you a decent idea of what to expect!
Forgot I had a Marcus account, was looking for something else to stick some savings in. Just got app downloaded and logged into, submitted a request to change my linked account, it’s been a while.
It’s a pretty good app. I only downloaded it today, but it’s nice(r than Chase).
Really? In what sense? I have both, but Marcus doesn’t actually do anything, does it? It’s a Basic Thing from Basic Town, surely.
Well, apart from pay interest, I suppose.
The Marcus app is very basic. It’s a fancy wrapper for their website and not much else.
Weird thought of the day, because Marcus doesn’t do transactions does that mean they have a very light-ship when it comes to financial crime detection? I presume there isn’t much to analyse other than “money in from 1 specified account, money out to that specified account”?
Not a bad thing, it just came to me in the shower 
Sounds like a good question for @Dan5 !
I suspect you’re right though, and is presumably why many savings account impose similar restrictions. It never made sense to me and was always more of an annoyance, not being able to pay in from and withdraw to any account.
Freetrade are the same too, I think, but weirdly, Nutmeg buck the trend and aren’t fussed which account the money comes from.
Tesco Bank savings accounts allow this.
There’s a lot of variation across providers.
HL allow deposits from any debit cards, but withdrawal to nominated account only. Coventry allow payments in from anywhere, but out only to nominated.
I think it’s a business decision, otherwise they’d all be forced to do the same thing
Just had an email to say my rate is increasing from today. 0.6% is the new base rate. Totalling to 0.7% if you have the bonus. Good reminder to renew it whilst it still exists.
Just had an email to say the rate is going up to 0.9% so that’s 1% with the bonus. Still nowhere near Chase but good to see others raising their rates now.
Tandem went up to 1.1% yesterday.
Marcus is now 1.15% interest. Creeping up.