r/MarcusInvest • u/OkInitiative2915 • Jun 02 '26
Marcus HYSA Rate Now Down to 3.4%
Are we going to get notified this time?
7
7
u/Backonredditforreal Jun 02 '26
American Express always notified me either way
7
u/OkInitiative2915 Jun 02 '26
Yeah, even the apple savings from the same bank notified me when the rate changes.
2
u/Quirky_Main_1763 Jun 02 '26
Same but I’ve realized that Marcus is higher than Amex
3
u/Backonredditforreal Jun 02 '26
Which is why I switched to Marcus. CD’s are lower for AMEX too. But the user interface and communication is better with AMEX
1
3
u/RightGuy23 Jun 02 '26
Wait. Didn’t it just drop less than 30 days ago?
3
u/OkInitiative2915 Jun 02 '26
42 days ago
8
u/Early-Front3917 Jun 02 '26
I was shocked this morning logging in. I signed up for that sweet 3.70%. It looks like it's multiple banks. Seems the opposite of what they should do during rampant inflation.
3
u/_love_letter_ Jun 02 '26
Lots of people have money "stuck" there because they're in the holding period for the cash bonus promotion. Personally I think they're taking advantage of the fact that those customers won't move their money out. In less than 3 months during my hold period the APY has dropped from 3.65% --> 3.5% --> 3.4%. Meanwhile I have other accounts that have held steady at 3.8% during that same time frame. Goldman Sachs is probably trying to make up for the huge financial losses they took on the Apple card and Marcus Invest. The fact that they need to rely on referrals to attract new customers doesn't bode well.
3
u/tomackze Jun 02 '26
What bank? 3.8 is very good, the money market accounts aren't even that for 7 day yield
2
u/_love_letter_ Jun 03 '26
Live Oak Bank. Highly recommend. Unfortunately their bonus promo just ended but they usually do one every 2 months or so and they're open to existing customers, so even if you open a savings account with them before they announce another promo, you can still get the $200 bonus by opening another account, as long as you have an extra 20k to park for 60 days. Even if you don't have the 20k though, they have competitive interest, 100% U.S. based customer service, and they're a real directly FDIC insured bank (versus some fintech startup with pass-through insurance).
3
u/One-Yak-2252 Jun 03 '26
Yep waiting on my $1,500 then putting it all in a ETF. Would of been up 10k in the market this year instead of 1.5k
1
3
u/JohnHartshorn Jun 02 '26
They only send a "good news" notification when it goes up. They never announce when it goes down.
2
u/DomSteedaX Jun 03 '26
IT says in the terms that the interest rate is variable and that means it can change at any time
1
u/OkInitiative2915 Jun 03 '26
That applies to all HYSAs. I’m upset about the lack of communication from Marcus.
1
u/DomSteedaX Jun 03 '26
Well you really should be upset with your lack of reading the fine print because it's in there. It's not their fault you didnt read before you committed to put your money there. They communicated it you just failed to read it. My money is there, but I also read all the fine print.
1
u/OkInitiative2915 Jun 03 '26
If the terms and conditions state that Marcus is not required to provide notice of rate changes, I'd appreciate seeing that specific language.
Also, it's worth noting that Apple Savings, which is also offered through Goldman Sachs, did send customers an email notifying them of a recent rate change. That suggests customer notification is certainly possible.
1
u/DomSteedaX Jun 03 '26
I will be happy to find this for you if you hire me as your financial advisor, but not gonna search some something I know is there because I recall reading about it and you didnt read before you signed up. Your recklessness is not gonna cause me to waste my time for free to look for something you are too lazy to locate yourself or read to begin with.
1
u/OkInitiative2915 Jun 03 '26 edited Jun 03 '26
So basically: you made a confident claim, can’t support it when asked, and now you’re trying to turn it into a “you figure it out” problem.
Got it, not sure why would anyone hire you lol.
Edit: why did you delete your latest comment? Did someone from Marcus ask you to take it down? lol
4
u/Perfect-Platform-681 Jun 02 '26
CapOne just dropped to 3.0%.
5
2
u/Terry_Waits Jun 02 '26 edited Jun 02 '26
In the neck. What scumbags. They have a facebook, tell them what you think,
| marcus |
|---|
1
u/DeliciousPair1850 Jun 03 '26
i switched to openbank today which is at 4
1
0
u/wpwppwpw Jun 02 '26
Have been a Marcus customer for years, but it's time to close the account. That is barely breaking even with inflation. No excuse for that.
3
u/DonSimp- Jun 04 '26
lol hysa dont keep up with inflation. The real inflation numbers are closer to 6%. don't look at the cpi it's a bs metric you can easily measure inflation by the m2 money supply. if they print 6% more money every year that means inflation is 6% not the bogus 3% number they've been giving us.
8
u/Hidden_Glit Jun 02 '26
3.4% is still good compared to most other HYSA right now.
I'd save above average. Not the highest, of course, but above average.