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Marcus Bank: $100 bonus for Savings accounts (10K Deposit)

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It's been ages since I've posted deals here, so please be kind if I am forgetting any details. Anyway, ran across this offer today --


Boost your savings with a $100 Bonus

We want to help you get even closer to your savings goals! Get $100 when you deposit $10,000 or more in new funds into a new or existing Online Savings Account within 10 days of enrollment, and maintain those funds plus your current balance for 90 days. Must enroll by 3/18/19.

https://www.marcus.com/us/en/savi...vingsbonus


Now there are better checking/savings offers, but this is one of the few I have seen for Marcus. I also think current customers are eligible so long as the 10K is new money.

Savings rate is 2.25%, which isn't the highest out there, but it's not bad either. I signed up earlier today, although the site was having some technical issues ... ended up getting the acct via phone. It was super easy though, just took a couple of minutes. Set up an ACH transfer, and it should be a quick $100 (well, quick to earn, 90 days of waiting).
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#2
Bummer. Just deposited last week
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#3
Nice, this is equivalent to a ~6.25% APY over the 90 day period (2.25% base APY, + $100, over the $10k amount).

Also, joint account holders can claim the deal on the same account (if they also deposit $10k).
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#4
Thank you! Was planning to open an account with them.
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03-11-2019 at 01:55 AM
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#6
Quote from IgorK2492
:
$100 bonus from $10,000, that takes a bit over 100 days to hit, means that you are foregoing 100 days of 2.45% interest from CIT Bank ($67.12) in order to earn this reward. This $100 deal is really just a $32.88 deal.
Don't know how you calculate your math bro... Your getting 2.25% from marcus plus the $100!
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#7
Any confirmation that you're enrolled for the bonus? I signed up as new customer through that page and didn't see any mention of it.
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Last edited by poohbie March 11, 2019 at 03:47 AM.
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#8
Quote from IgorK2492
:
$100 bonus from $10,000, that takes a bit over 100 days to hit, means that you are foregoing 100 days of 2.45% interest from CIT Bank ($67.12) in order to earn this reward. This $100 deal is really just a $32.88 deal.
In reality, using a 2.45% account as you stated, you are only giving up $5.50 of opportunity cost (.0245 - .0225) over 100 days so the $100 bonus is still worth at least $94.50 (pretax).
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#9
Thanks. Higher than I'm getting with Ally. May as well move it over and collect the bonus.
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#10
Quote from poohbie
:
Any confirmation that you're enrolled for the bonus? I signed up as new customer through that page and didn't see any mention of it.
No confirmation email but if you log in and view your account, towards the bottom right under Account Details it will say: Offer Enrolled: marcus100
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#11
Quote from IgorK2492
:
$100 bonus from $10,000, that takes a bit over 100 days to hit, means that you are foregoing 100 days of 2.45% interest from CIT Bank ($67.12) in order to earn this reward. This $100 deal is really just a $32.88 deal.

As others have stated, you are overlooking the 2.25% from the savings acct. CIT is a little higher, and there are other options out there too if willing to go with credit unions (which to be honest, most of the time it sounds like more of a pain than it's worth).

But if someone has money to park and likes to chase rates, I do see Purepoint has a 2.6% no penalty CD, so that would be a little better than the 2.45% from CIT. Of course it's not a savings acct though, so you need to park it, not subtract or add to it. But I've also read of some folks having issues transferring money out of Purepoint (no idea if it's true or not).

In regard to this deal, I want to also mention not to dawdle with transfers, as I think Marcus just gives you 10 days to fund the acct. I did an ach pull yesterday from Marcus against my Discover acct and was surprised to see the money already arrived. Usually when I do it the other way, push from Discover, it takes like 4-5 days.
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#12
Thanks OP, signed up for the bonus.
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#13
Quote from brettatk
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No confirmation email but if you log in and view your account, towards the bottom right under Account Details it will say: Offer Enrolled: marcus100
Thank you, repped!
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#14
Quote from Namelessme
:
As others have stated, you are overlooking the 2.25% from the savings acct. CIT is a little higher, and there are other options out there too if willing to go with credit unions (which to be honest, most of the time it sounds like more of a pain than it's worth).

But if someone has money to park and likes to chase rates, I do see Purepoint has a 2.6% no penalty CD, so that would be a little better than the 2.45% from CIT. Of course it's not a savings acct though, so you need to park it, not subtract or add to it. But I've also read of some folks having issues transferring money out of Purepoint (no idea if it's true or not).

In regard to this deal, I want to also mention not to dawdle with transfers, as I think Marcus just gives you 10 days to fund the acct. I did an ach pull yesterday from Marcus against my Discover acct and was surprised to see the money already arrived. Usually when I do it the other way, push from Discover, it takes like 4-5 days.
Any other suggestions of non-CU places that have consistently high rates and with good reviews? (vs the places that will have a limited time promo on a great rate and then go back to not being competitive)

Ally, Synchrony, and Marcus are the 3 I know of.
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#15
Hmm I just opened an account and deposited more than enough last week. It says this special runs 3/4-3/18, but to get the offer you must go through the link. I am going to call and see if I can get this.

Edit: I don't know of any CU places with higher interest. I know Marcus isn't the highest, but it is one of the least painful places. This is just a little extra on top. Fortunately I hadn't put all my funds in it yet. What I ended up doing was making a new savings account under the same account with this special and put the 10k in it. This leaves the rest of my funds liquid.
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Last edited by zablon March 11, 2019 at 05:48 PM.
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