Marcus only offers one account type – an easy-access savings account. It comes with the following features:
Easy access. Unlike with some other banks, this account gives you unlimited withdrawals and deposits. It won’t affect your interest and you won’t be charged.
Competitive interest rate. A really competitive interest rate of 1.5% AER. This is a leading rate in the easy-access account market.
Anyone can get it. This is a savings account for everyone and anyone. Minimum savings deposit is £1.
Maximum savings amount. This is £250,000.
Online. Open and manage the account online.
Telephone support. This is available during weekdays.
Monthly interest. Interest is calculated daily but applied monthly. The interest will be added on the day of the month you opened your account. So if you opened it on the January 23, your Marcus account will be credited on the 23rd of each month.
Is the account online?
Yes – open and manage the account online. If you wish to withdraw then log into your Marcus account and transfer money to another UK account in your name (your linked account).
Likewise, if you want to deposit money you have to transfer it in from your linked account.
What you need to open a Marcus account
You must be aged 18 or over
Have a UK address and be resident in the UK for tax purposes
Have a UK current account with a sort code and account number
Have a UK mobile phone
Is Marcus safe?
Goldman Sachs International is authorised and regulated by the Financial Conduct authority. In addition, it is covered by the Financial Services Compensation Scheme (FSCS) so your savings are covered for up to £85,000 if Goldman Sachs goes bust.
Who is this savings account for?
It’s probably not for you if you can afford to put money away for a while or you have enough to make regular deposits. Regular savings or fixed-rate savings accounts typically offer better rates.
However, if you’re looking at getting an easy-access account then this one is seriously worth considering. Some other easy-access accounts will give you one or two withdrawals a year before penalising you but Marcus gives you unlimited withdrawals and deposits. In addition, its interest rate is among the best. There is one string attached: there is a 0.15% bonus for the first 12 months so your interest rate will drop after the first year. When it does, you might consider swapping to another easy-access savings accounts.
Frequently asked questions
Unfortunately, no. Marcus requires you have a UK address and be a UK resident for tax purposes.
Moving money from your linked account is the only way you can add money to your Marcus account. Your linked account is your main UK bank account from which you pay into your Marcus account. So as long as the cheque is drawing on your linked account, then you can.
1. Make the cheque payable to Goldman Sachs International Bank. 2. Write your Marcus sort code and account number on the bank. 3. Post it securely to:
Felix Thompson is a freelance writer at Finder. He covers everything from digital banking to car insurance and, whatever the topic, he aims to make it easy for consumers to get straight to the best deal. Felix has a postgraduate qualification in international journalism and is also a broadcast journalist. In his spare time, he loves to cycle.
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